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PROPOSALS for raising Money for the NATIONAL LAND-BANK.
I Have been very often earnestly importuned by divers Persons, to permit them to sub∣scribe a Sum of Money to the National Land-Bank, in lieu of Land, which I did not then think proper or convenient to accept of: But since the said Bank is designed for a General and extensive Good, and several Persons still renewing their Solicitations to sub∣scribe Money to the said Bank; that none therefore may be excluded from taking part of the many Advantages that will arise thereby; and in regard it may be a means to unite the Owners of Land and Money in point of Interest, it is thought necessary to receive Subscripti∣ons for a Million of Money on the following Terms and Conditions, still reserving to my self what I have yet to offer for raising any farther Fund of Money or Credit that may be needful for the said Bank.
That any Persons may subscribe what Sum of Money they please in the present Subscription-Books, until the Value of one Million in Money shall be subscribed.
That every fifteen hundred Pounds in Money that shall be subscribed, shall be esteemed equal to two thousand Pounds in Land, the same being the full Value for which such Land may be en∣gaged, and shall have an equal Vote in all Elections with one hundred Pounds per annum, or two thousand Pounds worth of Land, and in like proportion for a greater or less Sum.
That the whole Million to be subscribed shall be paid in specie, in manner as is herein after appointed.
That each Subscriber, his Heirs, Executors, Administrators, or Assigns, shall pay to the Treasurer or Treasurers of the National Land-Bank, to be hereafter chosen, one tenth part of his or her said Subscription-Money on the 29th Day of September next, or within ten Days af∣ter; one other tenth part on the five and twentieth Day of December next, or within ten Days after; and the like tenth part on the five and twentieth Day of March th••n next following, or within ten Days after; and so to continue the like Paiments quarterly, upon the four most usual Feast-days or Terms of the Year successively, or within ten Days after each and every such Feast-day or Days of Paiment, until all and every the said tenth Pa••ts shall be paid to the Treasurer or Treasurers of the Bank in manner aforesaid.
That all and every the Subscribers, their Executors, Administrators or Assigns, shall re∣ceive from the Treasurer or Treasurers of the said Bank, after the rate of 3 l. per cent. per annum, for all the Money they shall from time to time pay into the said Bank, pursuant to their 〈…〉〈…〉 part of the Profi••s or the Bank: The said 3 l. per cent. per annum to be paid them in two equal Paiments, 〈◊〉〈◊〉 upon the 25th Day of March, and 29th Day of September every Year.
That each and every Subscriber shall receive his or their Part or Propo••tion of the Profits of the Bank for the whole Sum by them subscribed, the same to be comp••ted from the time they shall pay their first tenth Part or quarterly Paiment.
That if any Subscriber shall fail to pay his first tenth Part or quarterly Paiment upon the 29th Day of September next, or within ten Days after, such Subscriber's Subscription shall be void.
☞ That the said Bank may be a safe Repository for the Money of all Widows and Orphans, it is thought sit likewise to publish, That all such Money of Widows or Orphans which shall not be subscribed towards the raising the aforesaid Sum of ten hundred thousand Pounds, shall at any time (upon Application first to be made to the Directors) be received into the Bank, who will pay them after the rate of 3 l. per cent. per annum, for interest, and their Principal Money on Demand.
7th August, 1695.
John Briscoe.