The trades-man's jevvel: or a safe, easie, speedy and effectual means, for the incredible advancement of trade, and multiplication of riches;: shewing how men of indifferent estates, may abundantly increase both their own and other mens trading and riches, without parting with money, or any stock out of their own hands: by making their bills to become current instead of money, and frequently to revolve through their hands, with as much in money as the sums therein mentioned do amount unto.

SECT. VIII.

IF the difficulty of producing security for borrowing of these Bills, be pleaded;

I answer, When any of the Halls of London proffer to lend Money to yong beginners gratis, it is ac∣compted so great an advantage, as there are few but will make all possible shift to procure any security that shall be demanded.

Yet I say, That the Loan of these Bills shall be much greater advantage to the borrowers, then if they were proffered the Loan of so much Money gratis.

For hereby the deal in such a kinde of Money, as will be sure not to go far about, without returning with as much in other Money upon their own hands (they being the onely persons that are engaged to take it;) whereas those that borrow the usual currant Money now abroad, so soon as ever they lay it out, are never like to see it again.

Now this quick and thick Revolution of Bills (with as much in Money) through their hands, shall multi∣ply their Trading to the utmost degree that they are possibly able to manage, as is fully cleared in my aforesaid Treatise.

If the hazzard of being bound each for other, be objected:

I answer, The hazard is no whit greater then to be bound for the Chamber of London, or Bank of Am∣sterdam, in any thing wherein a whole Company of Insurers should be bound to save them harmless: For,

1. The whole Company of Undertakers have suf∣ficient Security from each particular Member.

2. If one Member amongst many should fail, both in himself and Sureties, the Insurers must save the Un∣dertakers harmless.

3. It is not to be doubted, but the Insurers will be careful enough to take such Security as the one per Cent. given for Insurance, shall on time with another, more then make good all the losses incident to this un∣dertaking; The contrary to which must not be granted.

4. If it might be admitted, that any such thing could happen once in an age, wherein neither the one per Cent. nor yet the whole estates of the Insurers,

would be able fully to make good the loss, yet not any one person alone, but the whole Company of Under∣takers, are to discharge the rest proportionably, where∣in each mans share would scarce be considerable.

5. The ordinary way of Trading upon Trust, is lia∣ble to much greater hazard, which by this means will be made altogether needless.

For in the said ordinary way of Trading, men use not either to take Security from their Debtors (much∣less to insure that Security) or to have any to bear the least share of the loss, that frequently happens by trust∣ing them.

Whereas those of this Engagement, seeing they may have as much Trading with ready pay in Money and Bills, as they are able to manage, shall not need to trust any man whosoever.

Yet if the difficulty of procuring Security, and the hazard of being bound each for other, do stick in mens mindes;

I shall propose a way for removing of both, to those whom it concerns, when need requireth.