OBJECTIONS Answer'd.
Obj. I. THIS is a new Project; and England has long been a Glorious Na∣••••on, without this Proposal; and new Methods will not be easie,
Answ. This Objector should then wear a Ruff and Trowses, in lieu of Rowling-Breeches, and a Cravat, which his Great Grandfather never wore; and, that we have now alter'd our Habit, is, because the Habit we now wear, is easier than formerly were worn: Nay, a Government is alterable, when not easie; and alter'd for the Better.
Obj. II. Some think this Credit will lessen the Value of Houses and Lands.
Answ. These Objectors allow then the Credit to be good, and better than Houses or Lands.
Let these Men make the Titles of their Lands and Houses to be Clear and Good, then this Credit will do them no harm, but the contrary; if we have more Trade and Credit, Men will become more able to buy Lands and Houses, which are always preferrable.
Holland has vast Sums standing out in Obligations, or Bonds, transferrable, but Currant; yet so valuable, that I have sold them in London, at 6¼ per Cent. and this does not hinder Lands to be at 40 and 50 Years purchase: And it was this kind of Credit, or Obligations, that raised that State, and supported it.
Obj. III. How secure us against the Misfortune of the Bankers, or a Strong Hand?
Answ. The Bankers Money was in the Exchecquer; These Bonds will be in the Hands and Possession of the People: And I have already said, the Crown may as easily call back the Money, paid out of the Exchecquer, as stop what is paid out for Money, and made currant by a Law. Secondly, The Office will have little in it, worth seizing; and we may as well fear the Plundering of Lombard-street, or the City.
Obj. IV. We shall have nothing but Paper-Money.
Answ. If it does the same Duty, it is as good. By adding this Currant Credit, we do not Banish Gold nor Silver, but make it more Free and Com∣mon amongst us; and Men will rather hoard up these Bonds than Money, because this Species increaseth in their Coffers.
Obj. V. My own Objection is, That Men will hoard up these Bond••, as the Best and Securest-Treasure, and so spoil my Design of making them run in Trade.
But, if they do, they must purchase them with Money or Goods; which then will turn to the same Account.
If more Objections arise, They shall be readily Answer'd by William Killigrew.