Page:William Petty - Economic Writings (1899) vol 1.djvu/409

Rh above mentioned, I conceive what was proposed, is competently proved, at least until something better be held forth to the contrary. |[112]|

 

OW for the further incouragement of Trade, as we have shewn that there is mony enough in England to manage the Affairs thereof; so we shall now offer to consideration, Whether there be not a competent, and convenient Stock to drive the Trade of the whole Commercial World. To which purpose it is to be remembred, That all the Commodities, yearly Exported out of every part of the last mentioned World, may be bought for forty five Millions; and that the Shipping employed in the same World, are not worth above fifteen Millions more, and consequently, that sixty Millions at most, would drive the whole Trade above mentioned, without any trust at all. |[113]| But forasmuch as the growers of Commodities, do commonly trust them to such Merchants or Factors, as are worth but such a part of the full value of their Commodities, as may possibly be lost upon the sale of them, whereas gain is rather to be expected; it follows that less than a Stock of sixty Millions, nay less than half of the same summ, is sufficient to drive the Trade above-mentioned: It being well known that any Tradesman of good Reputation worth 500l. will be trusted with above 1000l. worth of Commodities: Wherefore less than thirty Millions, will suffice for the said purpose; of which summ, the Coin, Shipping, and Stock, already in Trade, do at least make one half.

And it hath been shewn, how by the Policy of a Bank, any summ of mony may be made equivalent in Trade, unto