THE COMPANY'S CASE Briefly Stated.

MOST part of the said Company's Revenue is charged with yearly Charities to several Parishes, Places, and Ʋses, amounting to near the yearly Profits they receive; most part whereof consisted of Houses in London, which were all consumed by the late dreadful Fire, when they expected to have ad∣vanced great Summs of Money, by way of Fines, on renewing of Leases, towards Payment of their Debts.

They had also heretofore many and great Summs of Money paid into their Hands, as a Fund for the Ʋses following, (viz.)

To pay yearly Summs in Coals, Faggots, and Money, to several Parishes and Wards about London, and elsewhere.

To several Prisons for Redemption and Release of Prisoners,

To the Poor Members of the Company.

To be lent to Young Men that had served their Times to Members of this Com∣pany on Security, with little or no Interest, to set up, and to be returned again.

To buy Impropriations, for maintenance of Ministers, where their Livings are small. And

To maintain several Schools and Alms-Houses.

They complyed punctually with all their Trusts, continuing in very great Credit and Reputation, until the sad Effects of War and Fire rendred them uncapable to discharge their yearly Charities, where they have no Fund left. And

The remaining part of their great Debts which they contracted, as followeth, viz.

Anno 1640. To accommodate the late King Charles the First, in his Exigencies, on Security of some of his Peers, — 4500 l.

Anno 1642. To Subdue the Rebellion in Ireland, and Relieve his said late Ma∣jesty's Protestant Subjects there in distress, — 9000 l.

Anno 1643. They were compelled to lend the City, for which they had their Common Seal, — 4500 l.

All which they took up on the Company's Seal, nor were singular therein, but necessitated thereto, in compliance with all other Companies, and indeed with the whole City.

Page  [unnumbered]Ʋpon their taking up this Money, they made a By-Law to levy the same on them∣selves, if their Stock fell short; and so they continued payment of their Interest; and as one Creditor called for his Money in, they took up of others, and paid them off, depending upon getting in their said Principal; all which failed them, till at last their sole hope was of advancing Money by renewing of Leases, many whereof were nigh expired; but the Fire in 1666. consumed their whole Revenue in London; they having already paid for Interest of Money, between 1640. and 1666.—30000 l.

As their Debts exceeded any other Companies, so their loss herein was exceeding great, so that now they were uncapable any longer to pay Debts or Charities.

They applied themselves to the Parliament, then sitting, on their said By-Law, but were rejected, as binding to no more than were Parties to it, most of whom were dead.

They had then no means to raise Money, but by letting their Ground to Builders for Fines, on long Leases, great part whereof they were compelled to, by decree of the Judges at Clifford's-Inn.

And by voluntary Subscriptions, both which were set on foot soon after the Fire; and to encourage Subscriptions, Sir John Cutler, erected the first Building in the Garden.

They raised considerable Summs, and propounded to pay their Creditors their Prin∣cipal, part thereof down, and the rest at two Payments.

And after many Meetings, most of their Creditors inclined to accept of such Pro∣posals, finding how it must be advanced; but some of their Members being backward, and some Creditors ill advised, Sued the Company, and seized their Hall in Ruines, which put a stop to all, though those Creditors themselves repent this; afterwards loosing their Charges, and glad to comply on lower terms, than at first offered.

Afterwards the Company raise Money, what they could of kind Members them∣selves, and take up the residue on the Assignment of the Sequestration and Conveyance of all their Estate, to pay off the Creditors that Sequestred, and some other remaining proportions to Creditors, who had not yet received any: And to supply what was wanting, they let their Land in Ireland, on Fine, sinking their Rent to 10 l. per Annum. But the Hall continuing in Ruines, the Company was thereby rendred reproachful.

The Apprentices bound at other Halls, and turned over.

The Freemen take their Freedoms of other Companies.

And all Benefactors decline as despairing of any good to Posterity.

So that the Members every year dying and failing, and many removing into the Country, and none to succeed in their Places,

It must needs follow, that the Company in few years must dissolve for want of a Succession of Members, which would most reproachfully have rendred the Members then living, who were numerous, and equal, if not more eminent, than any other Company, not only most ungrateful to their Predecessors, who have been so liberal Benefactors, and have left such Grounds (though the Buildings were so consumed by Fire) yet now built on, gives a great hope to Posterity, but also obnoxious to Poste∣rity.

Page  [unnumbered]The consideration whereof alone, moved Sir John Moore, another Worthy Mem∣ber, (then next in course to succeed in the Chair,) to repair the Body of the Hall, and also Sir James Edwards, and other kind Members, to enlarge it with Com∣modious Buildings for the Seat of a Chief Magistrate; that it might not only encou∣rage the Freemen, Apprentices, and Benefactors, to preserve the Company a Nur∣sery of Charity, and Seminary of good Citizens, but also answer the Charge of the Building, in improving the yearly Revenue of the Company; and is indeed (if rightly considered) in the Company's present Circumstances, of greater advantage to the Company, than any one thing that hath been done for them. For

I. It hath much incouraged the Apprentices and Freemen, so that whereas there used to be bound one, two, or three Apprentices in a Month, and one or two made free before, and those but poor Artificers; they encreased afterwards to a far greater Number, as well of Freemen, as Apprentices; and many of them of good Quality.

II. It hath given great satisfaction to several Eminent Members, who have de∣clared themselves very inclinable to contribute largly towards discharge of the Com∣pany's Debts and Charities, if they see but any Encouragement from the rest of the Members.

III. This Building, though it amounts to much more than what it was at first de∣signed, yet a great part thereof hath been freely laid down, on purpose for this work; and whatever is farther laid down towards it, (which it is hoped the whole will be raised by kind Members to answer these good ends,) would never have been so given, but for this very purpose.

And that the Building and Beautifying the Hall, may not be a bait to Creditors again to seize it, so again to discourage the Members,

The Hall, and the Company's Revenue, is, by advice of Counsel, settled by Con∣veyance and Decree.

I. Subject to secure the Money so taken up to discharge the Sequestrations, &c. And when those, and what Monies they should be so necessitated to take up to compleat the Buildings, shall be discharged.

II. Then to secure (so far as the same will extend) the yearly Charities where∣with the Company is chargeable, by many Benefactors who so heretofore left Money in their Hands, as a Fund to secure the same; no part whereof now remains; as being a trust they are liable in the first place, as a Duty incumbent on them, both to avoid a Curse, and in order to obtain a Blessing from God upon their Endeavours; and also to avoid prosecution of the Commissioners, upon the Statute for Charitable Ʋses, who have yearly put the Company to vast expences already upon that Account.

And these things having been made known to their Creditors, who were also con∣vinced (by the ill success of others) how vain and fruitless it would be to put them∣selves and the Company to trouble and charge, whereby they might hazard the loss of their Debts, but not in the least better secure them; the Company have been not only free from Suits and Prosecutions, which they were not at any time before, since their troubles began, but also the Wardens and Assistants have been (in a great mea∣sure) freed from those daily Clamours, which disturbed them in the Company's Service.

Page  [unnumbered]And now so fair an opportunity being offered to deliver the Company, and to give Encouragement to Benefactors; it is hoped there is no Member but will chearfully embrace it, whereby they shall not only draw others on, by their Example, to preserve this Society still a Nursery of Charity, and Seminary of good Citizens; but also encourage Benefactors for the future, some in their Lives, and others at their Death, liberally to extend their Kindness towards this Company; and without all doubt, such works as these are acceptable to God, in times of greatest Trouble and Danger; and such Benefactors may hope (on no less Security than God's own Word) for Ease and Comfort on a Sick Bed, and Deliverence in time of Trouble.

And moreover their Creditors (being now made sensible of the Truth of the Com∣pany's Condition) are inclined to comply with any reasonable Proposals shall be made by any on the Company's behalf, and (as some have already done) others are willing, and ready to embrace such Terms, as may be agreeable to the Company's Condition in their present Circumstances, for their Satisfaction.

I have thus abstracted the Company's Case in these four Pages: To the end all Persons concerned (whether Members, Creditors, or Benefactors) whose time will not permit them to read the following Sheets, may be more readily informed upon all Occasions of the Truth of their Condition: And for their ease, who shall desire farther Satisfaction in any particular, I have added marginal Notes in the following Pages for their Direction.

And now having at last by God's assistance, and with unwearied industry, accomplished my design; and having also traced their Revenue to the Ori∣ginal Donors and Purchasers, I did (by order of the Assistants) prepare and cause the several following Tables to be set up in their Hall, which I have here inserted, (as a Monument more lasting) to the end the Names of their Friends and Benefactors, from whom they have received All, may be kept in Memory, that the Generations to come, as well as the present Age, may not only bless God for such a Foundation, but be quicken'd from their Example to build and enlarge thereupon, that their Names may in like man∣ner survive in the blossom of a sweet smelling savour, when their Bodies are turned to dust.