Page:William Petty - Economic Writings (1899) vol 1.djvu/363

Rh Courts, to what summ or value Purchasers have been damnified for this last ten Years, by such fraudulent conveyances as Registries would have prevented; the tenth part whereof at a Medium, is the annual loss which the People sustain for want of them, and then computation is to be made of the annual charge of Registring such extraordinary Conveyances, as would secure the Title of Lands; now by comparing these two summs, the Question so much agitated may be determined; though some think that though few are actually damnified, yet that all are hindered by fear and deterred from Dealing.

Their third Policy is their Bank, the use whereof is to encrease Mony, or rather to |[29]| make a small summ equivalent in Trade to a greater, for the effecting whereof these things are to be considered.1. How much Money will drive the Trade of the Nation.2. How much current Money there is actually in the Nation.3. How much Money will serve to make all payments of under 50l. or any other more convenient summ throughout the Year.4. For what summ the keepers of the Bank are unquestionable Security: If all these four particulars be well known, then it may also be known, how much of the ready Money above mentioned may safely and profitably be lodged in the Bank, and to how much ready current Money the said deposited Money is equivalent. As for example, suppose a Hund. thous. Pounds will drive the Trade of the Nation, & suppose there be but Sixty thousand Pounds of ready Money in the same; suppose also that Twenty thous. Pounds will drive on and answer all Payments made of under 50l. In this case Forty of the Sixty being put into the Bank, will be equivalent to Eighty, which eighty and twenty kept out of the Bank do make up an Hundred, (that is to say) enough to drive |[30]| the Trade as was proposed; where note that the Bank keepers must be responsible for double the summ intrusted with them, and must have power to levy upon the general, what they happen to loose unto particular Men.