A Reprint of Economic Tracts Edited by JACOB H. HOLLANDER, PH. D. Professor of Political Economy Johns Hopkins University Jacob Vanderlint _ // 1 Money Answers all Things 1734 V3 1914 COPYRIGHTED 1914, BY THE JOHNS HOPKINS PRESS BALTIMORE, MD., U. 8. A. INTRODUCTION Jacob Vanderlint figures in the history of economic literature as the author of one book. Nothing is known of the circumstances under which "Money Answers All Things" was composed, nor indeed of the life of the writer. The extreme rarity of the volume suggests that the edition was small, and the infrequent reference to it in economic literature indi- cates that the essay exercised no considerable influence upon contemporary thought. In 1 8 10 Dugald Stewart exploiting the Earl of Lauderdale's "curious and valuable collection of rare English Tracts relating to Polit- ical Economy" noted that Vanderlint 's name "has been frequently referred to of late years." But, added Stewart, the essay "never seems to have attracted much notice till long after the publication of the Wealth /Nations."* Vanderlint, as the name betrays, was of the Dutch-Flemish stock whose implanting in England in the seventeenth century exercised so marked an influence upon English economic development. The dedication of the essay to "the Merchants of Great Britain," and the author's hope of making himself understood "with that Perspicuity and Evidence which may be expected from an ordinary Tradesman" suggest that the author was actually engaged in mercantile life. He disclaims "the Accuracy and Conciseness of a Scholar" but he seems well read in current literature, and his pen if untrained is none the less clear and vigorous. The essay is one of the most important of the flood of economic writing evoked, directly and indirectly, by Walpole's excise scheme. A series of writers, as far back as Lauderdale*, credit Vanderlint with authorship of the project of the single tax on land either independently or jointly with Locke, to whom Vanderlint is certainly indebted in other respects as in- deed for his title. 3 McCulloch concurs with Dugald Stewart that in advocacy of commercial freedom, Vanderlint will bear "a comparison both, in point of good-sense and of liberality," with Hume. 4 More 1 "Collected Works of Dugald Stewart" fed. Hamilton) , vol. x, pp. 2, 88-89. *"An Inquiry into the Nature and Origin of Public Wealth" (1804), p. nsn. "Further Considerations concerning Raising the Value of Money" (1695), p. 2. "The Literature of Political Economy" (1845), p. 162. 4 INTRODUCTION recently Mrs. Rhys Davids speaks of Vanderlint having "initiated scientific socialism in England." 5 Whatever be the accuracy of such estimates, certainly no careful study of either French or English eighteenth century economic thought can overlook Vanderlint's performance. In the present reprint the general appearance of the title page of the original edition has been preserved, and the original pagination indicated. 6 BALTIMORE, November, 1913. 5 "Dictionary of Political Economy" (ed. Palgrave), vol. iii, p. 610. "The reprint has been made from an original text in the possession of the editor. The formal collation of the tract is : Title, verso blank, i f.; dedication, i f.; preface, i-ii; pp. 1-170. 12 mo. The notation of pp. 57-64 is omitted and that of pp. 65-72 duplicated. Mrs. Homer A. Stebbins, of Columbia University, is engaged upon a study of Vanderlint's work and influence, and has courteously supplied information. MONEY anfwers all Things : O R, A N ESSAY TO MAKE MONEY Sufficiently plentiful Amongft all Ranks of PEOPLE, AND Increafe our Foreign and Domeftick TRADE; Fill the EMPTY HOUSES with Inhabitants, Encourage the MARRIAGE STATE, Leflen the Number of HAWKERS and PEDLARS, AND, In a great meafure, prevent giving long CRE- DIT, and making bad DEBTS in TRADE. Likewife fhewing, The Abfurdity of going to War about TRADE ; and the moft likely Method to prevent the Clandestine Exportation of our WOOL: AND ALSO To reduce the NATIONAL DEBTS, and eafe the TAXES. By JACOB .VANDERLINT. The Deftruction of the Poor is their Poverty. Prov. x. 15. LONDON: Printed for T. Cox; and Sold by J. WILFORD, at the Three Flonuer de Luces behind the Chapter- Houfe in St. PauV s-Cburcb- Yard. M.DCC.XXXIV. [Price i /. 6 . 3 a - R 5-S - n e ** c n o 3 c t> > JO C 3 fa. 2 rt = js O V M "o S 8 - J ^ *- i 5 Is" ^ ot.2 wj - r J= c x 3 t JJ -t oo -n | vo r*.r^r.r^i^fr^ co oo O OO M ON VO CO t~. >*. f- O N 00 N O N N *** P *s 2 = Ji ^s J!J ON ' N IOO\O-iONOOhx ^ *i O Q 'C ra ^s '-5 R -e 5 X 2 ? 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Now I of so large a Body, as the People of this Kingdom, must needs have a vast Influence on the Trade of it, if we consider them, as being little more than half the Consumers they might and ought to be; which I shall shew, by the following Estimate for a labouring Man and his Family; and though this Estimate is made for a labouring Man's Family in London, yet since the Wages of the labouring People in the Country are as much less than Wages in London, as the Country People can subsist cheaper, it will still hold that the labouring People 75 in general are but half the Consumers they ought || to be, as the following Estimate will sufficiently prove. MONEY ANSWERS ALL THINGS 77 An Estimate of the necessary Charge of a labouring Man and hit Family in London, consisting of a Man and his Wife and four Children, which I take to be a middling Family; however, since they often may have more Children, this must at least be a needful Allowance for a labour- ing Man and his Family. Daily Expence per Head. d a Daily Expence of the whole Family. / s d Weekly Ex- pence of the whole Fa- mily. / /. d. Yearly Expence of the whole Family. /. /. d. Bread for six PerO 4 sons, J Butter, i \\ 10 J Cheese, i * si Meat, i 6 3 6 Small Beer, 2 3 i 9 Roots, Herbs, Flower, Oat- meal, Salt, Vine- i l| ioi gar, Pepper, Mustard, Sugar, Soap, J i Si Threads, Needles, ~| Pins, Worsteads, Tapes, &c. for re- > i t Si pairing Cloaths, Milk one Day with 1 another, for the r \ Si whole Family, A Candle one Day ") with another, J \ Si Coals one Day "1 with another, J 2 I 2 Strong Beer, i reft 13 76 JACOB VANDERLINT Weekly Ex- pence of the whole Fami ly. /. /. d. Brought over Repairs of Household-Goods, as Bedding, Sheets, Table-Linnen, Mops, Brooms, Brushes, Pots, Pans, &c. guess'd to make the Pence even, at Schooling for the Children. Rent of two Rooms, which is as little as such a Family can or ought to ihift with. A Woman's Victuals and Wages in Lyings- in, and Illness, with extraordinary Charges on such Occasions, guess'd at Cloaths, Linen, Woollen, Shoes, Stockings, &c. for the Man, guess'd at Ditto, for the Woman. Ditto, for the four Children at i /. per Annum per Head. Physick for the whole Family one Year with another. The necessary Yearly Charge of such a Family. 13 16 Yearly Expence. /. /. d. 43 2 2 IO 2 10 54 10 If any think the Article of Cloaths too much, let them consider to what Purpose the Manufactures are made, if I of the People can't be allowed to be such inconsiderable Consumers. And if any think the other Part of the Estimate too large, let them shew how such a Family can with any Decency have their Wants supplied with these Things, cheaper than I have put them. But if any please to strike any of these Things out of the Estimate, I would advise, that those Things should not be raised in the World at all, since I of 77 Mankind can't be allowed to partake of them. || For high as this Estimate runs, it is not half so much as such a Family will cost in the very next MONEY ANSWERS ALL THINGS 79 Station of Life above the labouring Mechanick's Rank, whilst at the same time it's certain, as the Prices of Necessaries now are, the labouring Me- chanick can hardly earn enough to purchase half these Things. For whatever Wages a working Man may some- times earn, 10 or 12 Shillings per Week, when all Deductions are made of lost Time for want of Work and Illness, is the utmost one Man with another can get for himself and Family, which being but 26 or 30 /. per Annum, is but about half what is necessary for the Support of such a Family, in the meanest Manner it can be decently done. This therefore shews the Usefulness and Neces- sity of making the Plenty so much greater, that every thing may be thereby made much cheaper, that there may be more Work to employ the Poor, and their Wants may be better supplied, which will necessarily make so much more Trade and Busi- ness amongst others. This Estimate also shews, that a Principle I have gone upon, and hitherto taken for granted, is true, in the Nature of the Thing itself, viz. that the Wants of Mankind, if fully supplied according to their several Ranks in Life only, are sufficient to give full Employment to all that must get their Living by their Diligence and Labour. For if I of the People, were, as they might and ought to be, double the Consumers they are, which, I think, appears by this Estimate; it would rather be a Question,whether Mankind || are able to supply 78 all their Wants, than whether the Wants of Mankind are sufficient to give full Employment to those that want it. And this is an invincible Argument for a free and unrestrained Trade, since if any Nation makes 8o JACOB VANDERLINT Goods for us, we must be making others for them or some other Nation, and so mutually for each other, provided our Goods are made cheap enough to maintain such Commerce. And if so, what a Number of People will every Nation thus be able, by means of maritime Com- merce, with all its Appendages, to sustain, more than any such Nation could do, without this Way of employing and supporting them. For if the People had not this Way to employ them, they must fall into Agriculture for Employment; in which Case, the same Number of People would require a vastly greater Extent of Territory to support them, than in the former Case; and their Affluence* would in general be vastly less likewise; besides, that such a Nation would not be near so formidable; the Reasons of which I shall endeavour to shew. If any certain Quantity of Land well cultivated and improved will produce Corn and Cattle, and all other Necessaries for the Use of Man, when only $ of the People, suppose, are immediately employ'd this Way, whilst the other f are employed in mari- 79 time Affairs, and Affairs thereunto re || lating, and otherVocations; if the People can be so subsisted, as they undoubtedly are, at the same Time that their maritime Commerce is not only so useful, to employ so very great a Part of them, as subsist in any Re- lation to it, but brings them Gold and Silver, who have no other Way to procure any amongst them, which Gold and Silver, by being made the Medium of all Transactions, circulates swiftly through every *To convince us of this, we need only compare the Magnificence and Splendour of a City or Town, whose maritime Trade is considerable, with the Rusticity and Meanness of the Country People; for let them set up Coaches, and build fine Seats, as many Merchants and Tradesmen in uch Towns are continually doing, and then I'll acknowledge that Afflu- ence and Power are so immediately connected with the Plow, that no Na- tion need concern themselves at all about maritime Commerce. MONEY ANSWERS ALL THINGS 81 Hand, in suitable Proportion to the Business each Particular transacts, leaving also amongst many of them a Surplus, greater than what their particular Occasions require, which constitutes the Wealth of such Particulars, and which, when many of the People are thus enriched, constitutes what is called national Affluence; I say, a Nation doth thus become properly affluent, and that includes Strength and Power. All Interruptions therefore of this Commerce, whilst it continues gainful (i. e. increases the Na- tion's Cash) will no doubt be allowed to lessen this Affluence, Strength and Power. Therefore when any Branch of Commerce lessens the Cash of a Nation, I expect it will be thought fit by high Duties or Prohibitions to restrain or suppress it; but this I shall take the Liberty to deny, because it will hence become fit for other Nations to lay such Restraints or Prohibitions, as never to let us have a gainful Trade, if they can help it, it being just so far a los- ing Trade to them as it's gainful to us; and as mari- time Commerce must be, and certainly now is, very much lessened by these mutual Restraints, so many People must have lost their Employment in every such Nation, and where they will find || Employment, go but in Tillage and Cultivation of Land, I can't ima- gine; wherefore, if they must employ such, or an equal Number of others this Way, which indeed the rising Generation will best and most naturally supply for that Purpose, as they can't be employed on the Land before cultivated, so it's certain they must have so much larger Territory to support the same Num- ber of People, whereby, as their domestick Trade will languish as their maritime Trade decreases, because domestick Trade doth very much depend on maritime Trade, so their maritime Force will decrease together with them; for the Truth of which, 82 JACOB VANDERLINT I appeal to Experience and Fact, whether every Nation be not more or less formidable, as their maritime Commerce is more extensive or less con- siderable; whence it's plain, Affluence and Strength are so connected with the maritime Trade of a Na- tion, that they must increase or diminish together. But if every Nation, instead of such Restraints, would make their Produce, &c. cheap enough, which they can always do, and that to the real Advantage of every Part of the Community, their good and cheap Goods would force themselves by these Qualities (which are inseparably connected) on some other Nations at least, and, I think, on them too who endeavour to restrain them, and thus extend as well as preserve their maritime Commerce, and with it their Affluence and Prowess. And this might perhaps demonstrate to others the Folly of restraining Trade in any Degree what- soever, and be a Means to point the Way to make 81 their People happy in Trade without || such Re- straints, or ever going to War with each other about it; for War, I am sure, is always in its Consequences, as destructive of Trade as it is of the Peace and Happiness of Mankind. But the above Estimate shews, that if the Produce of the Earth were doubled, it would certainly be consumed, since the Wages of the labouring People, who are the Bulk of Mankind*, are not sufficient to purchase above half the Necessaries such a Family doth require. If it be said, every one hath not so large a Family; I answer, that many have larger; and as it is reasonably expected, every Man should provide for his own Family, how large soever it may be; it hence becomes fit, that every Man should be *The labouring People being so great a Part of the whole as I, for Argument Sake, I take them here for the whole. MONEY ANSWERS ALL THINGS 83 capable to earn, at least, as much as will provide for such a middling Family, as the Estimate is made for. But I must observe, that the Produce of the Earth could not be doubled, unless the Quantity of Land in Use were also doubled; for the Land in Use doth certainly, generally, produce as much as it can well be made to bear; therefore it follows, there must be twice as much Land to bear twice the present Quan- tity of Produce, which the Estimate shews would be consumed, without altering the several Ranks and Stations of Man in any Respect, but that of being comfortably supported in the several Ranks and Stations of Life. But to double the Produce, there must be double the Number of People employed in Cul || tivation82 of Land. Now, I think it self-evident, that Trade, Manufactures, &c. could not possibly spare half such a Number of People out of them, without making Trade, Manufactures, &c. much too profitable, and encouraging, to suffer half so many People to em- ploy themselves any other Way. For as it is the Demand, which governs and fixes the Price of every thing, if so many People were to be taken out of Trade, Manufactures, &c. as half the Quantity of Land, we have now in Use, would require to culti- vate and improve it, and go through all the Parts of Business arising thereby, the Manufacturers, Traders, &c. would undoubtedly be able to exact almost what Price they pleased for their Work and Business. Upon the whole then, we may see, that all the Produce of the Earth and Manufactures would be wanted and used, if Things were to be put on so happy a Foot, as I am pointing out; and that the Wants of Mankind are full as great, as both their Abilities, and the Earth too, are capable of supplying; whence it follows, that any Want of Em- 84 JACOB VANDERLINT ployment or Trade amongst the People, is solely owing to this, that we have not Land enough in Use to employ and support them. Again, I would observe, that if the present Quan- tity of Produce were to be augmented only one Fourth at most (and perhaps People enough might be spared out of Trade, Manufactures, &c. to do this) it would certainly fall the Price of the Produce half. For since Farms must, in this Case, be one Fourth 8 3 more numerous than they are, the Rents || of Lands would thereby necessarily be considerably lowered; and if the Produce of the Earth would, in this Case, be augmented to so great a Degree, as a fourth Part also, as I suppose it certainly would; these Things taken together, I think, could not fail to lower the Price of the Produce half, and then Labour would of Necessity be lowered also, because the working People would be under no less Necessity than they are now, to work as cheap as they possibly can. For if, as it hath been shewn, the Produce can't be doubled, to enable the working People to be double the Consumers they now are, as the Estimate shews they certainly would, if they could get it, and that without bringing them at all out of the Rank and Condition of working People: Nay, if the Pro- duce can't be increased half, nor perhaps hardly one Fourth neither, would not absolute Necessity oblige the working People to work as cheap as they pos- sible can, that they may be able to supply their Wants as far as they can, which yet, it appears by the Estimate, must be considerably abridged, not- withstanding the Plenty, which a fourth Part more Land than we now have in Use would produce; and notwithstanding too, that there would, in this Case, MONEY ANSWERS ALL THINGS 85 be so much more Employment for the working People, as would fill up the whole Time they have to labour in: So true is the Proverb, and so true 'twill always be, That nothing is cheap, but poor Folks Labour. But this Estimate shews, how much the Neces- saries of Life ought to be lowered in Price, in order to reduce the Wages of the labouring || People, so as to 84 make much more Employment for them, and at the same time increase the Consumption of every thing to such a Degree, that there may be a great deal more Business amongst the trading Part of the People. The labouring People, I am sure, and do insist on it, notwithstanding my Estimate, can make about 1 6 Shillings per Week support such a Family, as the Estimate is made for, though I know not, nor desire to know, how to make an Estimate thereof; and I have heard them that have such Families, declare they should think themselves happy, if they could get so much one Week with another; where- fore it appears to me, that in order to reduce Labour, the Necessaries of Life should be lowered about half, that 8 Shillings might purchase as much as 16 will now do; and then Labour might be lowered at least one Fourth, and the labouring People be ena- bled, notwithstanding, to purchase near half as many more Necessaries as their present Wages of 10 or 1 2 Shillings per Week will do, at the Rates these Things now go; and, I think, any one who considers the Pittances allowed in the Estimate, must think it fit, that the labouring People, if they will be indus- trious, should notwithstanding any manner of Pre- tences or Suggestions to the contrary, have it in their Power to obtain half as many more Necessaries for their Support and Comfort, as their present 86 JACOB VANDERLINT Wages will now purchase, and then there would be almost half as much more Trade and Business amongst the People in general, as there now is, or 8s can be till this be done; || besides all other mighty Advantages, inseparably connected with it; of which, the Removal of many of those Temptations, which contribute to the Destruction of the Poor, and which would, in this Case, in a great Measure be certainly removed, is no small one. For I take the great Number of Brandy-shops and Ale-houses, which have multiplied so mightily of late Years, to be one of the greatest Snares and Temptations that could be laid in the Way of the labouring People, and which introduces most of the Calamities and Vices they fall into; these which are so great a Snare to the poorer Sort, as Taverns also are to many in better Stations, would, I think, soon be very much reduced in their Numbers (though I suppose we shall always have enough of them) if so much new Employment were produced for the People in general, as would arise by the Execution of this Proposal. For since it hath been shewn, that the full Exe- cution of this Proposal will create as much Employ- ment and Trade as the People can possibly perform, I think the trading People would soon find more honourable, if not more profitable Ways to subsist, than by enticing and encouraging the working People to spend the Money they know should be saved for and laid out on their Families; and instead of suffering them to disorder themselves, and waste that Time, which should be employed to gain a Support for their Families, or if they have none, to provide against the Infirmities of Age, and other 86 Accidents of Life, or for near and helpless Relati- 1| ons, they would even turn such disorderly People MONEY ANSWERS ALL THINGS 87 out of their Houses, or at least not sell them Liquors so vastly injurious to them, and all the Relations they stand in to others. For there are Instances of Brandy-Shops and Publick-houses.who having pretty good Trades will not suffer such Excesses in their Houses, notwithstanding the many Examples, and State of Trade in general are bad enough to justify any Means of attaining a Livelihood, not absolutely unlawful. But there is a Necessity to lower the Ne- cessaries of Life to about half the present Price, if we would reduce Labour only one fourth Part lower than it now goes; for as it is the Demand alone, which gives the Value, and fixes the Price to every thing, any slender Attempts to employ the Poor, and make more Business this Way arise to others, would by encreasing the Demand for Labour, &c. rather tend to raise the Wages of the labouring People, and augment the Profits of the trading Part, than to lower either of them; for I believe the trad- ing People in general (and their numerous Com- plaints to the Parliament, shew as much, as well as an Estimate I have subjoined) stand in need of larger Profits, as the first Estimate also shews the labour- ing People do of larger Supplies, than their present Wages will now procure them. But perhaps it may be asked, How Labour can be reduced the Way I propose, since the Demand for it (which always advances the Price of every thing) will be greater: To which I answer, that it is the present Rates of Labour only that || will be re-g 7 duced my Way, but its Value, according to the above Maxim will be greater, when the Necessaries of Life are rendered so much cheaper, that a fourth Part less Wages will purchase near half as many more Necessaries as the present Rates of Labour will do; and as this is all the Reduction of Labour I 88 JACOB VANDERLINT am aiming at, or which in the Nature of the Thing is possible, so, that I may be clearly understood, let it be supposed, that such a labouring Man's Family can be decently maintained (as it most certainly may) with about 16 Shillings per Week, and that the Ne- cessaries of Life were lowered to half their present Price; as 8 Shillings would then purchase as much as 1 6 will now do, which is at least a third more than their present Wages of 10 or 12 Shillings will now purchase; so Labour would then really be about \ Part more valuable than it is now, though its Rate at the same time be lowered about \ Part also. But if we would really effect this, we must un- doubtedly, as fast as possible, improve such large Tracts of waste Land, as will employ all the Hands, Trade, and Manufactures will possibly suffer to be employed this Way; for a Nation is a great Body of People, and if we would do Things they may all feel the good Effects of, we must do great Things indeed; and a very great Thing it will be to reduce the Price of Necessaries half, which, I think, I have shewn to be absolutely needful to reduce the present Rates of Labour, and at the same time supply the labour- ing People with the Things needful to that Station of Life, and thereby make so much more Business 88 amongst others, without || which, Trade in general cannot flourish, because all Trade depends solely on the Consumption; and yet, I think it appears, by what I have said, that Trade will flourish, before the Poor will find in their Power to attain the Supplies I wish them, since the Labour of the Poor is the Wealth of the Rich; and if it was unreasonable to muzzle the Ox that trod out the Corn, what Name shall I give the Measures that render it so difficult for the Bulk of Mankind, to answer the great End of Life, that of raising Families to stand in their MONEY ANSWERS ALL THINGS 89 Room when they are removed, as all soon must be to give Place to succeeding Generations ? But there is another Thing, which would mightily contribute to the Reduction of Labour, which is, the bringing Fish out of the Sea at such cheap Rates, as that the Poor might be induced, by its being cheaper than Meat, to make it a good Part of their common Food; and as we are inviron'd by the Sea, which will furnish never the less, how much soever we fetch thence; beside, that this Food requires no Land, except to grow the Timber, &c. to build the Vessels with; and this Food is no sooner caught, but it is fit for Use, and therefore requires neither the Time nor Labour, that all other Food Mankind use requires, to raise, and fit it for Use; I say, since we are inviron'd with the Sea, we might certainly bring Fish so cheap to a Multitude of inland Places, if the Charge of catching them, and Carriage could be very much lessened, as would make it a much larger Part of the Food of the common People than it is. || 89 But though this will, in the first Place, somewhat depend on the Reduction of Labour, yet I appre- hend it to depend as much at least on making Timber so plentiful, that, if possible, the Charge of the Vessels they fish with, may be lessened about half in building, and fitting them to Sea; for the greatest Part of the Price of Fish, is constituted of the Charge of building and maintaining the fishing Vessels and Tackle, together with the Interest of the Sums such Vessels, &c. cost, which are employed in the Fishery. Wherefore could these Charges be considerably lessened, which a great Plenty of Timber, &c. with somewhat cheaper Rate of Labour would certainly effect, we might make Sea Fish so much cheaper Food than Meat, as would contribute 90 JACOB VANDERLINT very much to lowering the Price of Provisions in general, and might hereby support a much greater Number of People on less Land than we can other- wise do; and it's certain the Diitch, who have about two Millions and an half of People, upon about a Million of Acres of Land, do by this Means, besides others, very much contribute to the supporting such a vastly greater Number of People in respect of their small Territory, than we, who have but about eight Millions of People, and hardly less than twenty Millions of Acres now in Use to support them*; 9 besides, that such an Encouragement || to our Fishery would be a most useful Nursery for able Seamen, and a Benefit in respect of our Exportation of Fish, greater than I shall attempt to represent. But this Estimate further shews, that the fit Rule to judge and determine when the Necessaries of Life should be denominated cheap or dear, is solely that of the general Earnings or Wages of the labouring People, which undoubtedly ought to be such as will procure so many of those Things as are needful to support such Families, as is the Lot of * Benjamin Matte's Philosophical Transactions abridged, 11 Part 4. Page 24. demonstrate England or South "Britain to contain 72,000 square Miles, or 46,800,000 Acres; he also says, the Province of Holland is computed to contain about a Million of Acres, which is said to contain 2,400,000 Souls, so that England, to be proportionably populous, must have no Millions of People; but he says, to allow Room enough for Persons of all Degrees under our 'British Monarchy, if England were half as populous as Holland, with only 55 Millions of People, it were a good Proportion, and would be near five times our present Number; so that according to him, we must have about eleven Millions of People in England. He further says, that to people England with this Number, viz. 55 Millions, there are sundry Ways very practicably, by which he hath com- puted, the present Number may be doubled in 24 or 25 Years, and prob- ably quadrupled in about 36 Years; but I think England is not capable to sustain double its present Number of Inhabitants, because it is un- doubtedly at present above half cultivated and improved, yet I think I have made it evident, we have not near Land enough in Use to support its present Inhabitants. Dr. John Lawrence in his new System of Agriculture, Page 45, says, 'tis believed that almost one half Part of the Kingdom is Commons. MONEY ANSWERS ALL THINGS 91 many of the labouring People to have. From hence therefore we may also see, when Money is, or is not sufficiently plentiful amongst the People in general, or which is equivalent thereto, when there is, or is not Land enough in Use to support them, for hence only can these Things be brought and kept near to- gether, as is absolutely needful to put the Affairs of the World, and Condition of Mankind in the best and happiest Situation they can possibly be in. For whilst a Mechanick, or labouring Man can't possibly earn so much, as will provide de || cently for 91 a middling Family, suitably to that low Rank of Life; it's plain, Money, which is the sole Medium of procuring any Thing, is so much too scarce amongst i of the People at least; or which, as I said, is the same Thing in Effect, that there is not Land enough in Use to support them, and consequently, there is in this Case, so much less Business and Employ- ment amongst the People in general, than there ought to be; whence the Distress of great Numbers is unavoidable: And Gentlemen should consider, if I of the People must labour under the Penury this Estimate holds forth to them, what a Probability here is, that many of their own Offspring, in a Gene- ration or two, if not much sooner, will find them- selves in no better Circumstances. And hence I can't help reflecting how good human Nature is, that can support under the Hardships, we, by the Estimate, see the Bulk of Mankind lies under; which Hardships, I think, I have now suffici- ently shewn, cannot be any Way justly attributed to the all-wise and infinitely gracious Creator, but solely to those, who for want of thus looking thro' the Nature of Things, and from a mistaken Judg- ment, that the more Money they receive for their Estates, the richer they are (the contrary of which 92 JACOB VANDERLINT I have proved) do prevent the People from thus continually proceeding in the Business of Cultivation and Tillage, whence alone every thing they have is derived, and whence only whatsoever they want can be supplied, and whence all the Employment and Trade of the World do proceed; and to which End 92 it was, that Man was sent || into the World, as I shall further confirm, by the Authority of the Holy Scrip- tures, Gen. iii. 23. Therefore the Lord God sent him forth to till the Ground whence he was taken. But I shall proceed to shew from Fact, that it is the Interest of the landed Gentlemen to cause so much more Land to be added and improved, as will effect the Things I am aiming at, by comparing the present Rents of Lands, and Prices of Necessaries, with the Rents of Lands, and Prices of Necessaries some Centuries ago. Now though the Rents of Lands are very different, according as the Soil or Situation is better or worse *, yet it's certain the present Rents of Lands in general are hardly four times as much as they were about four Centuries ago; but the Prices of Necessaries differ vastly: For the Price of the fat Ox, which was a Noble, is now about i o or 12 Pounds ; the fat Sheep, which was 6 Pence, is now about 16 Shillings; the fat Goose, which was 2 Pence, is now about 3 Shillings; the fat Pig, which was i Penny, is now about 4 Shil- lings; the Price of 6 Pidgeons, which was i Penny, is now about i Shilling and 6 Pence; and Wheat, which was 2 Shillings per Quarter, is now about 24 or 26 *If we take the Rents of good Lands in England, at a Medium, to be about 10 Shillings per Acre, and the Rents of bad Lands, at a Medium, to be about two Shillings and Sixpence per Acre, and that their Quantities are near equal, then the Rents of Lands will be about 6 Shillings per Acre now at a Medium; and as far as I can learn 6 or 7 Shillings per Acre at Medium, is as much as the Lands of England are now worth; and I believe I may be bold to say, the Lands of England, at a Medium, have not let for less than one Shilling and Six-pence per Acre for four hundred Years backwards. MONEY ANSWERS ALL THINGS 93 Shillings per Quarter; and all other Things differ in such Proportion. Whence it appears, these || Things 93 are now higher in Price then they were then, from about 20 to 30 Times and upwards, except Wheat, which I suppose Eras. Phillips, Esq; in his State of the Nation, &c. Page 52. accounts for, where he says, It's observable, Corn hath not risen in propor- tion to other Commodities, because by a new- fashioned Industry the same Quantity of Ground is more productive than it was. Therefore it's plain in fact that Gentlemen are vast Losers by this Advance of their Rents, since they, in common with all other Consumers, now pay on the Par above 20 times as much for every thing as was paid for the same Things about four Centuries ago, whilst their Rents are not above four times as much as they were then; therefore it must be mightily for the Interest of the landed Gentlemen, to cause Land enough to be added and improved, to put Trade into a flourishing State, since it must be equally certain, that every thing will fall in as much greater Proportion than the Rents will fall, as it's certainly Fact, every thing is risen in so much greater Proportion than the Rents have been raised. But I can't pass over this Fact without remarking, that it must be beneficial to Trade, that our Princes, Nobility, and Gentry, should wear the richest Gold and Silver Cloathing, and use such Utensils, and adorn their Palaces and Houses with these shining Metals, as much as the Revenues of the Crown, or Income of the Estates of the Nobility and Gentry will admit; only with this Difference, that crowned Heads may lay out this Way, whatever the Extent of their Revenues will allow; but the Nobility and ((94 Gentry must act in this, with such Regard to their Families, that they may all be properly provided 94 JACOB VANDERLINT for, whilst the Heir only should fill up such splendid Appearances. The Reason of which is this, that it appears plainly from this Discourse, that as the Gold and Silver (i. e. Money) increases in greater Proportion than the People increase, so will the Prices of every thing advance, and that in much greater Proportion than the Rents will or can rise; wherefore it can't but be beneficial even for Trade, that as much of these Metals be used in Splendor, as is consistent with the abovementioned Circumstances; because by thus keeping so much of those Metals out of Trade, the more just Distinction will it keep up amongst the several Ranks and Stations of Men *, whilst at the same time it will give so much greater Employment, and that in the most nice and curious Arts, to Mechanicks, &c. and prevent our Markets from rising so high, as to hinder the Exportation of our Commodities, or give too great Encouragement to the Importation of foreign Goods. I am induced to make this Remark, from the Practice of the East-Indians, who, as I have often heard, carry this Matter so far, as to bury the Money 95 they get by Trade; as E. Phillips, || Esq; Page 7. also says, that they have since the Year 1602, buried above 1 50 Millions of Silver, which hath been brought 96 in to Europe^. || * Money is the Tradesman's working Tools, without which he can't proceed in Trade at all; therefore, since the Increase of Money amongst the People will increase the Price of Things in greater Proportion than the Rents can be raised, the more Money circulates in Trade, the more must the Traders have in their Hands to carry it on; and this will neces- larily raise Tradesmen so much nearer the Rank of Gentry, as the Quantity of Cash they circulate is greater in Proportion to the Rents, than it would be if the Prices of Things were kept lower, the Way above suggested. 1 1 would by no means have us follow their Example of burying our Money, any further, than that every Man should be his own Banker, that is, I would have no publick Banking any ways encouraged; nor any Com- panies ever incorporated; because, besides many Evils that necessarily adhere MONEY ANSWERS ALL THINGS 95 'Tis by this Practice they keep^all their Goods and Manufactures at such low Rates, that all Europe thinks it not only worth while to trade with them, but to carry prodigious Quantities of Silver* to to all trading Corporations, their Stock and Bonds have the same Effects as banking, -z'/'z. operating two Ways at the same time, in their Trade, and in our Markets; so that any thing can always be bought with them, just as if such Paper were Gold and Silver; I say, I would therefore have none of these Things encouraged; and then if Property were but sufficiently diffused amongst the People in general, we might sleep very safe with large Sums under slender Fastenings; for it is Necessity which makes Thieves. Now if every Man were his own Banker, and Trade put on so good a Foot, as to diffuse Property so effectually, that every industrious and prudent Tradesman, though his Circumstances were not great, might get Money, there would soon be Millions locked up in the Hands of the People of this Kingdom; and as this is the fit and natural Way of burying Money, so this would reduce the Price of our Goods below the Kates, which the Cash, if it were all afloat, would support them at; and which now by Banking and other artificial Moneys, /. e. Paper Effects having the Operation of Money, are certainly, vastly above the Kates which the real Specie itself, which we have now amongst us, would support them at. But perhaps the Merchants may object, they can't do so much Business without more Hands, if there were no Banking at all;to which I answer, that such as have so much Business as to require a Hand the more on that Account, must employ one; yet I will mention a Practice in Holland well known to many of our Merchants. The Merchants in Holland, frequently make large Payments in a coarse, and therefore a bulky Sort of Specie, called Ses d'Halve, which they deliver each other in Bags unopened, con- taining 375 Guldens, and numbered, or ticketed without Side so many, and also weighing so much, which they may tell over at home if they please, and if any thing is found short, the Merchant that paid it, on tell- ing him how much it fell short, immediately, without any Questions, makes it good; and if there be an Overplus, they always reckon themselvesobliged to carry that Overplus to the Owner. This honourable Way of dealing in the valuable Article of Money, may possibly seem strange to us, who are not used to it; but I believe if we had no Banking, and our Specie were as coarse and bulky as theirs, the Merchants would soon find it convenient to introduce this Practice amongst them, and no doubt would discharge it as honourably; and then large Payments might be made almost as quick as Draughts on the Bankers with the Entries they occasion, and the neces- sary Settlements with the Bankers about them afterwards; besides, that the vast Damage arising by Failure of Bankers, would this Way be intirely prevented. * The Indians are so politick, as to take only or chiefly Silver, because it's next to impossible it should ever be so plentiful, as to reduce its Value in respect of Gold, which to be sure they know to be continually growing so plentiful in Europe, as to lower its Value in respect of Silver; besides Silver being of so much less Value than Gold can't be much diminished but it will be obvious; nor is there near the Temptation to counterfeit it. What is it therefore, which infatuates us and other Nations to such a Degree, as to carry the Indians almost all our Silver? The Author of the 96 JACOB VANDERLINT purchase their Commodities, whilst our Goods can- not possibly find much Vend with them, being so much dearer than theirs, as we see the great Circu- lation of Gold amongst us, makes our Goods in re- spect of the Prices of theirs, who this Way prevent the Money they gain by Trade from raising the Prices of their Commodities. Thus will they not only always preserve the Bal- ance of Trade in their Favour, but make many other Nations carry their Money to them; besides what Use they may make of such immense Wealth, if any Exigence or Design should oblige them to use it; which Wealth is as many times more power- 9?ful to them than it || would be to us, as the Wages of their labouring People are lower than ours. But an Objection arises here, which though it allows, that if all the Things our Gentry consume and use were our own natural Produce, they would, as I have proved, be the richer for executing this Proposal; yet since they consume so many foreign Goods, as perhaps constitute half their Expence, viz. Teas, Sugars, Fruits, Linens, Cambrick, Laces, Wines, &c. the Prices of which depend so much on what they cost at the Places they are brought from, that they can receive but little Alteration by the Execution of this Proposal; the Gentry therefore will not be the richer for such a Reduction of Labour, and Prices of our natural Produce, as would hereby be effected. To which I answer, That all Nations have some Commodities peculiar to them, which therefore are Plan of the English Commerce, zd Edition printed 1730," will answer this Question for me; for Page 65, he says, China and India, and other Eastern Countries have the most extended Manufactures, and the greatest Variety of them in the World; and their Manufactures push themselves on the World by the meer Stress of their Cheapness, which causes their Consump- tion; and Page 66, he says, the Wages of their labouring People do not exceed two Pence Sterling per Day. MONEY ANSWERS ALL THINGS 97 undoubtedly designed to be the Foundation of Commerce between the several Nations, and pro- duce a great deal of Employment by maritime Affairs, &c. for Mankind, which probably, without such Peculiarities, could not be; and in this Respect, I suppose we are distinguished, as well as other Nations; and I have before taken Notice, that if one Nation be by Nature more distinguished in this Respect than another, as they will by that Means gain more Money than such other Nations, so the Prices of all their Commodities and Labour will be higher in such Proportion, as my fourth Maxim demonstrates; and consequently, they will not be a Jot the richer or more powerful for having more Money than their Neighbours. || 9 g But if we import any kind of Goods cheaper than we can now raise them, which otherwise might as well be raised at home; in this Case, undoubtedly, 'tis indispensably necessary for us to practise the Method I prescribe, which is the only one, by which we ever can be enabled to raise all such Commodi- ties at home, and thereby furnish so many new Branches of Employment and Trade for our own People, and remove the Inconvenience of receiving any Goods from abroad, which we can any ways raise on as good Terms our selves; and as this should be done to prevent every Nation from finding their Account with us, by any such Commodities whatso- ever, so this would more effectually shut out all such foreign Goods than any Law can do. And as this is all the Prohibition and Restraint, whereby any foreign Trade should be obstructed, so if this Method be continually observed and prac- tised, as it most certainly ought, our Gentry would find themselves the richer, notwithstanding their Consumption of such other foreign Goods, as being 98 JACOB VANDERLINT the Peculiarities of other Nations, we may be obliged to import. For if, when we have increased our Pro- duce to so great a Degree, as to reduce the Rates of Labour considerably too, and have thereby ena- bled ourselves to raise many Kinds of Goods, which we now import, cheaper than we now import them, which is the necessary Consequence of executing this Proposal; I say, when we have thus raised all we can at home, and thereby put our Trade into a flourishing State, the Goods we import after this is 99 done, being cheaper || than we can raise such Goods ourselves, which they must be, or we shall not im- port them; I say, it's plain the Consumption of any such Goods cannot occasion so great an Expence, as they would if we could shut them out, by an Act of Parliament, to raise them ourselves. If therefore it would be true, as the Objection allows, that the Gentry would be the richer for executing this Pro- posal, if all the Goods they consume and use were the natural Produce of our own Country, they must be so, notwithstanding their Consumption of any Quantity of foreign Goods, which we can import and sell at cheaper Rates than we can possibly raise them ourselves; for none but such cheaper foreign Goods, can ever find a Vend in any Nation, except they be the Peculiarities of other foreign Nations; to which I have given a full Answer above. From hence therefore it must appear, that it is impossible any body should be the poorer, for using any foreign Goods at cheaper Rates than we can raise them ourselves, after we have done all we possibly can to raise such Goods as cheap as we import them, and find we cannot do it; nay this very Circumstance makes all such Goods come under the Character of the Peculiarities of those Countries, which are able to raise any such Goods cheaper than we can do; for they will necessarily operate as such. MONEY ANSWERS ALL THINGS 99 8t/ify, The full and sufficient Execution of this Proposal, is the only Means by which Property can be reasonably and sufficiently diffused amongst all Ranks of People. For whilst the working People have not sufficient and full Em || ployment*, their 100 Labour, like all other Things, whose Quantity is greater than the Demand for them, must be disposed of below its true and just Value; which I have shewn is, or ought to be, as near as possible, so much as will produce a comfortable Subsistence for a Family, suitable to that Rank of Life: Now so long as these in general work so considerably below this Point, that their Wages are generally insufficient to support such a Family, as the Estimate supposes them to have, Property is evidently not so much diffused, as in the Nature and Reason of Things it ought to be; which will necessarily be attended with many Kinds of Evils, in Proportion to the Degree, which the working Peoples Wages fall short of the Point abovementioned: For hence the Wealthy having the working Peoples Labour and Skill so much too cheap, do not only engross that Property, in which the labouring People have a just and natural Right, so far as their Wages fall short of the End aforesaid, but they hereby accumulate a great deal of Wealth, in which the middling People have a reasonable and natural Property; and many of them who understand Trade, are enabled by the Force of such unequal Wealth, to trade on Terms too low to admit many of the middling People to get a Livelihood, suitable * If there were full Employment for the working People, their Wages would as certainly rise to the just Value of Labour, as we know every thing else doth, for which the Demand is equal to the Quantity; and therefore I deny that there is Work enough to employ the People, or that Property is reasonably or sufficiently diffused, till Necessaries are rendered so plenti- ful, and thereby so cheap, that the Wages of the labouring Man will pur- chase as many of them as the decent and comfortable Support of a middling Family requires in that Station of Life. ioo JACOB VANDERLINT ioito their Rank and || Station: For instance, suppose a Man in Trade worth 10000 /. and the Reduction of Interest hath actually brought too many such into several Retail Trades; I say, suppose such a one, in order to turn his Stock once in the Year, will vend his Goods at 10 per Cent, profit, this will produce 1000 /. per Annum-, now let another in the same Way of Trade worth 1000 /. sell at the same Rate (as he must, or have very little Business) and let him be supposed (because a less Stock may commonly be oftener return'd than a greater) to turn his Stock twice a Year; which, since giving Credit is become so general, is as often as such a Stock in Retail Trade can generally be returned; this though it produces 20 /. per Cent, on this Capital, or 200 1. per Annum, shall hereafter be shewn to be very insuffi- cient to bear all Charges of Trade, and support a middling Family, so as it is undoubtedly reasonable such a Family should live, for whose Support 1000 /. of their own Money is employed in Trade: Whilst the other making 10 per Cent, on his large Capital, may still more and more encrease it, at the same time that he is bringing on the Ruin of many that have but middling Capitals. Hence therefore it must appear, that not only the labouring Mechanicks, but many of the middling People must with them be dispossessed of that Property, which their Rank in Life, and the Good of the Community, naturally in- title them too, for that Community will always be most powerful, and most happy, that abounds most with middling People; and as there is no Means, by which Property can be diffused amongst the People 102 in || general, except that I am pointing out, so I think it self-evident, that this Means cannot fail of diffusing Property, amongst all Ranks of People, to such a Degree, as that all, that will be industrious, MONEY ANSWERS ALL THINGS 101 and careful, may be comfortably supported accord- ing to the several Ranks and Stations, in which Providence may think fit to cast them; and when- ever Property is thus diffused, it is not only suffi- ciently diffused, but involves all the Happiness the Nature of Things is capable of producing to Man- kind; so that whatever Difference there shall then be in the Circumstances, Conditions, and Ranks of Men, they will only be such as the Author of Nature designed, and such as are inseparably connected with civil Government, in which there must neces- sarily be high and low, as long as Government subsists. gtkly, The full and sufficient Execution of this Proposal, is the only natural or possible Means, by which Luxury, so far as it is injurious to Society, can be removed. I don't call that State, Equipage, or Way of Liv- ing, which is suitable to the Rank or Condition of a Man, Luxury hurtful to Society, how pompous so- ever, if it be contained within the Limits of his Estate, to such a Degree, as will admit of his mak- ing such Provision for his Family, as his Rank and Dignity requires; for I think such State and Way of Living necessary and useful to Society, whilst it's confined within the Bounds aforesaid. Therefore as that Man only can be called luxurious, in a Sense hurtful to Society, who exceeds these Bounds; so a Nation only can be || said to be luxu- I03 rious, when the People too generally exceed in this Respect. That this may possibly be the Case of a Nation, I shall take for granted, and admit, that one must be reduced to Distress, as sure as the other. Now the Cause of such general or national Luxury, is solely owing to too great an Inequality of Property, by which too many are enabled to live excessively IO2 JACOB VANDERLINT splendid, whilst the rest, having much less than they want, are too much depress'd and sunk; so that whilst one Side are almost adored for their Wealth, the other are almost abhorred for their Poverty; and as this makes the Gap much too wide between these Extreams, it can't be expected, but that the adored Part of Mankind will necessarily be imitated, beyond proper Limits, by most of those between these Extreams; and this compleats the Notion of Luxury hurtful to Society. But were Property to be so diffused, as I have shewn it may and ought, the Labour, &c. of the People would not come on Terms so unreasonably low, as to support such Excess on the one Hand, or to depress and sink the rest too much on the other: Nay, diffusing Property as aforesaid, will not only remove Luxury so far as it is hurtful to Society, but will in general extinguish all Kinds of Vice to- gether with it. For this too great Inequality of Property, I have now represented, is the sole Source, whence they all spring; and Solomon, the wisest of Men, hath determined this of the Poor, who are the Bulk of Mankind, when he says, as in the Motto I have chosen to this Essay; The Destruction of the l *Poor is their Poverty. But sure, Destruction || was never justly attributed to any other Cause than Vice; wherefore Poverty and Vice must according to Solomon be necessarily connected; and, I think, Ex- cess of Affluence must be so too, since it is but changing Solomons Determination to the other Ex- tream. But that I may fully prove, that the Execution of this Proposal will certainly remove Luxury, so far as it's hurtful to Society, which is all the Concern we need in the present Case have about it; I assert, that a middling Family in London, will in a very MONEY ANSWERS ALL THINGS 103 moderate Way of Living, in the middling Station of Life, require about 400 /. per Annum to maintain and make Provision for them, as by a subsequent Estimate shall be made appear: Now this Sum is undoubtedly as much more than the People in the middling Rank of Life can generally get, as the Wages of the labouring People are less than the Estimate for such a Family shews to be needful; therefore I insist, as I have before shewn, that if the Produce of the Ground were augmented about half, the Wants of the People are great enough to con- sume it all, and that without living in the least luxu- riously; since by both Estimates it appears, only necessary Things are allowed for the two Stations of Life, in which almost all Mankind are included. For the Number of those above the lower and mid- dling Stations, are undoubtedly few in Comparison to the Numbers, which must be included within the Bounds of these Estimates: If therefore the Produce of the Earth would be wanted and consumed, though it were augmented to so great a Degree as half; and if, as I have before shewn, || it is perhaps not 105 possible to increase it so much; and if, however, what we can do to augment it makes Plenty, and the Nature of Plenty be such as necessarily to bring those Things into the Power of the middling and lower People, who are those only that stand in need of them; if these Things are so, how is it possible there should be any general or national Luxury amongst the People, since we can't make the Earth produce so much as will support or cause it? Nay, since the Method of increasing the Produce, natur- ally and necessarily diffuses the Increase amongst the lower and middling People who alone want it; it must be plain, that this must remove Luxury, so far as it's hurtful to Society; and also, that Luxury iO4 JACOB VANDERLINT is founded in too great an Inequality of Property, as I have asserted: And hence also it must appear, that Luxury is not the Cause but the Effect of a Decay of Trade, since a Decay of Trade is nothing else but the Bulk of the Peoples wanting many Things, which they ought to have, and which, for want of sufficient Employment and Business, it is out of their Power to procure. lothly, The full and sufficient Execution of this Proposal, will prevent too great a Reduction of the Interest of Money; because the continual inclosing and improving so much waste Land, as will be need- ful for the Purposes laid down in this Essay, will not only make abundance of Estates to be purchased, which are now not worth one fourth, perhaps, of what they will be when improved, but will raise such vast Quantities of Produce, and consequently Manu- io6factures, to invest that Money in, which the Go- || vernment may from Time to Time be paying off; which Money, if this Way be not provided for em- ploying and investing it, must again come to Market to find Interest; whereby the Plenty of Money, seek- ing Interest, will be so great, that Interest must sink, or, which is equivalent, the Premiums on Money at Interest advance, in such Proportion as the Plenty of Money seeking Interest shall increase; which Premiums, with the Interest thereof, must in the End be lost, in consideration of receiving three or four per Cent, for a Time, instead of such Interest, as the Plenty of Money seeking Interest would naturally bear. But the executing this Proposal is absolutely need ful, as it is the only Means, whereby the Price of all Things can be lowered in such Proportion as the publick Securities shall be paid off: For these having now the Operation of Money, keep up the Price of MONEY ANSWERS ALL THINGS 105 all Things in Proportion to their Quantity, which, as they shall from Time to Time be paid off and annihilated, will be found to have just the same Effect in lowering the Price of every thing, as as if the Nation had really lost so much Gold and Silver. And though I think this self-evident, yet I shall quote E. Phillips, Esq; to support me, who, Page 42, says, there can be no doubt, that in the Year 1750, or thereabouts, when we may suppose the whole national debts paid off, and all the Paper Effects, which now have the Operation of Money, annihilated, all Goods will fall in their Price; because these Paper Effects being then sunk, their Opera- tion must cease of Course. For as the Value of Commodities has || risen, by the Increase of Gold and Silver within these 1 50 Years, so would they of Necessity fall in their Price, if our Gold and Silver were considerably diminished; the Consequence must be the same, if there is a Diminution of that which hath the Operation of Money. 'Tis true, as he further says, That as the Taxes will be abated, as the national Debts are paid off, so the Prices of Goods will fall in Proportion to the Abatement of the Impost on them; yet this will by no means suffer the Prices of Things to fall in Pro- portion to the sinking such a prodigious Value of Paper Effects, as at present operate with the full Force of Money amongst us; for these being several Times as great as our real Specie, must, by the aforesaid Rule, when sunk, make all Things fall in such Proportion, unless our real Specie can be aug- mented in the Interim to prevent it; and this, I doubt not, but it certainly will, if the Way I have pointed out, be heartily and sufficiently persued. \\thly, The full and sufficient Execution of this Proposal, will enable the Government to reduce the national Debts, and ease the Taxes. io6 JACOB VANDERLINT For as the Produce of the Earth, and Consump- tion thereof, will certainly be greatly encreased, which Things always go together, the Revenue must, I think, increase too ; since the Malt Tax, Excise on Beer, Duty on Leather and Tallow, and whatever other Parts of the Produce are taxed, would evidently be as much augmented as the Produce and Con- sumption of these would be augmented ; and if at the same time the Circumstances of the People will be generally a || mended, as I hope I have sufficiently made out ; as they will thereby be better able to pay these and all other Taxes, so every thing being by the full and sufficient Execution of this Proposal made considerably cheaper, which will as certainly attend the Execution thereof, it's plain, the Govern- ment will be able to effect every thing with as much less Money as the Price of Labour and Goods of all Kinds will hence be reduced, and therefore will certainly have a Surplus of Revenue arising not only by the Augmentation thereof, but by being enabled to effect every thing, that they may have Occasion to do, with much less Sums than they can now effect those Things ; and sure this Difference, which will certainly be very considerable, if suffi- ciently pursued, may be applied to reduce the national Debts, and ease the Taxes. But perhaps it will be objected; that to effect this Proposal, the Land-tax will lessen with the Rents of Lands, whence the Revenue must in this Branch of it diminish. I answer; that most of the Counties are able, with f of the Tax on Land, to raise the Quota's assess'd on them. And Eras. Phillips, Esq ; p. 44, supposes all the Lands in the Kingdom not to be assess'd at above half their Value; and if so, their Quotas, notwithstanding the Fall of Rents, may be still kept up ; but if we add the Land-tax, MONEY ANSWERS ALL THINGS 107 that may be further raised on so great an Addition of Land, as must every Year be further put into Use and cultivated, to hold the needful Proportion to the natural Increase of Mankind, and effect the Things I am contending for ; this Addition of the Land-tax will, undoubtedly, con || tribute so much to I0 9 the preventing any Diminution of this Branch of the Revenue, that, I think, we need have no Apprehen- sions about this Matter. And if the People will encrease as Trade is relieved and enlarged, which is a Truth known even to a Maxim, there can be no doubt that the Revenue will certainly, in the whole, soon be augmented, and also in this Branch of it. But because the Land, that shall be further put to Use, will be more in Proportion in some Counties than others, perhaps this may make a new Assess- ment of the Land-tax needful ; which therefore in such Case should be done. I can't dismiss this Head without shewing, that if all the Taxes were taken off Goods, and levied on Lands and Houses only, the Gentlemen would have more nett Rent left out of their Estates, than they have now the Taxes are almost wholly levied on Goods. The national Debt is supposed to be near 50 Millions ; the Interest of which, at 4 per Cent, is two Millions: And I further suppose, two Millions more may be near as much as is raised for the current Service of the Year, in these times of Peace; this together makes four Millions per Annum, which must be raised nett for the Government. The Rental of the Kingdom, though it's at present assess'd but at 10, is well known to be 20 Millions per Annum*; so that if the Land were fully assess'd * E. Phillips, Page 44, says, I believe I shall be allowed to compute the Rents of the Kingdom at 20 Millions. io8 JACOB VANDERLINT (as it certainly ought if it can be proved that the Land must pay all the Taxes, however the Manner no of collecting them || be varied) four Shillings in the Pound would raise the whole Supply of four Millions, except the Charge of collecting it, which by Way of Land-tax being found to be but about 6 Pence in the Pound, or i\ per Cent, will make but 100,000 /. more. But let us see what it will cost the Nation to raise four Millions per Annum on Goods. I suppose we have hardly less than 1 5,000 Persons employed, in the Kingdom, and upon the Coasts thereof, to collect, manage, and look after the Reve- nue in every Respect, besides a considerable Number of Vessels ; the Charge of which, and Salaries of all these Officers of every Class, together with the Per- quisites they receive from the People, which affect the Price of Goods just as if it were all nett Duty paid into the Treasury ; all these Charges taken together, I suppose, may very moderately be rec- koned equal to 100 /. per Annum, at a Medium, for each of those Persons. So that the Nation is thus necessarily put to a Million and an half Charge by these Officers; and if we suppose the Duties on Goods, and the Charge of collecting them, to be equal to \ of the gross Value of them, then the gross Value will at this Rate be 33 Millions. Now since those that disburse the Duties, and Charge of collecting them, must have a suitable Profit to every Hand through which the Goods pass to the Con- sumers, I will suppose these Profits to inhance the Value of the Goods to the Consumers 8 per Cent*'. * All Taxes on Commodities of universal Consumption raise, at least, 10 per Cent, more than their Rate on the People, because the Dealers in those Commodities exact that Interest for the Money advanced for the Tax: If I put this Exceeding at 15 per Cent. I believe Experience will justify me. See Fog's Journal of February the zoth, 1732 3. MONEY ANSWERS ALL THINGS 109 this will occasion a further Charge to the || Nation m of 2,640,000 /. per Annum. So that collecting four Millions for the Government on Goods, puts the Nation to above four Millions more Charge, than would be sufficient to raise the same Supply by way of Land-tax only. And I verily believe, I have not exceeded in any of my Suppositions ; or if I have, I doubt not that I am still in the whole Charge enough within Compass, and that this Way of Reasoning is just. But before I proceed to shew that this whole Charge of 8 Millions, which is equal to 8 Shillings in the Pound on the Rental of the Kingdom, will all fall ultimately on the Land, it is needful to shew that the Land gives all we have. That the Land gives all we have, would be self- evident, if we did not import many Goods which are the Produce of other Nations : But this makes no Alteration in the Case; since the Quantity of foreign Goods we import, can't continually be of greater Value than the Goods we export, because this, in the End, must exhaust all our Cash, and so put an End to that Excess. Therefore the Goods we import stand only in Place, and in Stead of those we export ; consequently the Land gives not only all we have of our own Produce, &c. but virtually all we re || ceive from other Nations; since it pro-i* duces and delivers, at least, a Quantity equal in Value to the Quantity of Goods we import. And as I have now proved that the Land gives all we have, notwithstanding the Importation of any Quan- tity of foreign Goods, I will next shew that it must If we consider that Taxes on Goods inhance the Charge of Living, and consequently of Labour, in some Degree at least, we can't doubt but that the Taxes on Goods must inhance their Price to the Consumer, at least as much as I have supposed, because Labour enters so essentially into every thing, as to constitute the chief Value thereof. no JACOB VANDERLINT pay all the Taxes, levy them how we will. I might, without going any further, insist on it, as a self- evident Principle, that that which gives all must pay all ; but I will shew how this comes to pass in this Case. It hath been laid down as a certain Principle, That the Price of Goods to the Consumers in general, depends on, and is governed by, and will always be more or less, according as the Quantity of Cash circulating amongst the People is more or less, in Proportion to their Numbers. And as the Rents of Lands depend also on this Principle, I will shew what the Rents of Lands will be in Consequence thereof. Now the Rents of Lands can be no greater (nay they ought not to be so great) than the Overplus which remains to the Farmers, after all Charges, together with their own Subsistence, are deducted out of the Price or Sum, the Produce of the Land they rent fetches at Market; and Experience shews, the Rents of Lands will always be very near as much as this, since the Farmers in general, as well as every body else, find it as much as they can well do to pay their Rents. But to proceed. Suppose the Cash, amongst the People in general, to be what it now is ; and that all the Taxes were taken off Goods ; it's evident, this would not, in the "3 End, lower the Price of || Goods to the Consumers; since that Price, by the Principle laid down, depends on the Quantity of Money circulating amongst the People : But if the Duties were taken off Goods, they must cost as much less than they do now, as the Taxes now on them, with the Charges of collect- ing, &c. now inhance them; therefore, I think, if the Taxes were taken off Goods, and laid on Lands and Houses only, so much more Money must in this Case come to the Hands of the Farmers for the MONEY ANSWERS ALL THINGS in Produce of the Ground, as would enable them to pay as much larger Rents than they now can do, as would double the Land-tax, if the whole Supply were raised this Way only: and this I conclude must be so, because the Charge of collecting the Duties on Goods is, as hath been shewn, about equal to the nett Supply for the Government, whilst the Charge of collecting the Supply by Way of Land-tax, doth not exceed ? V Part of the Charge of collecting it on Goods, as hath also been shewn. But that I may make it evident that the Taxes, and all Charges which attend collecting them on Goods, must lessen the Rents as much as they amount to, I reason thus : The Produce of the Ground, when fitted for the Consumer, fetches a certain Sum of Money, out of which all Charges, from the raising it out of the Earth to the fitting it for the Consumer, must be deducted, together with the Taxes, and all Charges they occasion by collect- ing them ; and the Overplus, after these are all deducted, is all the Rent that can possibly be paid.|| "4 Now if the Taxes, and Charges they occasion in collecting them on Goods, be equal to 7, 8, or 9 Shillings in the Pound on the Rental of the King- dom, these, which deduct so much out of the Price which the Goods fetch of the Consumers, must deduct it ultimately out of the Rent. And if every thing will always find its true Value, which is a known Maxim in Trade, Land, which is most valu- able of all Things, because it gives all Things, must do so ; therefore if the Taxes were all taken off Goods, the Land would necessarily bear as much higher Rents, as the Taxes substract from the Price of the Goods it produces ; and this will clearly ap- pear, by shewing in what Manner taking the Taxes off Goods will operate, to bring the whole Amount of them into the Landlords Pockets for Rent. H2 JACOB VANDERLINT If the Taxes were taken off Goods, they would come cheaper, and Cheapness would increase the Consumption, as Cheapness of every thing always doth ; and that Increase of the Consumption would increase the Demand for those Things. Now since every thing is the Produce of the Ground, the De- mand for the Produce would increase the Demand for Land, and that would necessarily raise the Rent, even till all the Money now paid for Taxes, together with all the Charge they are necessarily attended with, would come into the Landlords Pockets for Rent. Thus if the Taxes were taken off Goods, the Landlords would receive 8 or 9 Shillings in the Pound more Rent than they now do, if the Taxes on Goods do any way amount to so much ; and if 1154 Shillings in the || Pound or thereabouts would, as hath been shewn, raise the whole Supply for the Government, the Landlords would receive more Rent, by 4 Shillings in the Pound on their whole Estates, after the Taxes are deducted, than they can do whilst the Supply for the Government is raised on Goods. Nor can this possibly be otherwise, unless the Money circulating amongst the People be not suffi- cient to augment the Rents so much : And though I allow it is not, yet I verily believe, if all the Taxes were taken off Goods, the Money we have would be found sufficient to augment the Rents, equal to the Taxes that would be needful to be laid on them ; or, at least, that it would prevent any considerable Fall of the present Rents of Lands in general, even though so much Land were to be added and im- proved, as would be needful to answer the Purposes I am persuing in this Essay. But perhaps it will be asked, if taking the Taxes off Goods will not in the End lower their Prices to MONEY ANSWERS ALL THINGS 113 the Consumers ; as it certainly will not, because the Prices of all Commodities in general do necessarily depend on the Quantity of Money circulating amongst the People : I say, perhaps it will be asked, what Advantage the taking the Taxes off Goods will be to Trade? I answer, First, That all the Hands now employed in raising the Taxes on Goods, would be gained to contribute their Quota of Skill and Labour to encrease the publick Stock, who now, by living on the Publick, eat up so much of it as their whole Maintenance and Support amounts to, and thereby are at least a double || Loss to the Nation "6 of so much. And next, I say, that the Advantages that will arise to Trade by taking the Taxes off Goods, must be measured by the Inconveniencies which the Taxes on Goods occasion to Trade; and as these are felt by all to be prodigiously great, so the Advantages which will arise to Trade by taking the Taxes off Goods, must be found by all to be prodigiously great too, since they are Opposites that just equal each other. And perhaps it may be asked, how the Price of Goods can be so strictly governed by the Quantity of Money circulating amongst the People, since the Prices of them frequently vary very much? I answer, that though the Seasons, and other Circumstances will indeed always vary the Prices of all Sorts of Things, yet it must be allowed that the Rise of Goods will necessarily lessen the Consumption of them, and that the Cheapness of Goods will so much augment the Consumption of them, as in the Event to make the Effect the same, as if they were strictly and invariably governed by the Quantity of Money circulating amongst the People. And perhaps it will be objected ; that if all the Duties were taken off Goods, Goods imported ii4 JACOB VANDERLINT would, in this Respect, have Preference to our own Goods, which in the End must pay both Rent and Taxes ; but foreign Goods would in this Case pay neither. In answer to which, I say ; that since we must deliver Goods of our own Produce, equal in Value at least to those we import, as hath been shewn, the Goods we import should be deemed to have 117 paid Rent and Taxes, since they || stand only in lieu of others of equal Value, which have paid both. I am induced to treat on this Way of raising the Taxes rather than on Goods, because it may seem difficult, if not impossible, to get Hands enough to go into Tillage, &c. to carry this Proposal to its Perfection ; and also because I have before shewn, that Trade, Manufactures, &c. will probably not be able to spare so many Hands, since the Demand for them will certainly cause better Wages to be given to Artificers, and Manufacturers, &c. than Plowing and Sowing will ever do : For Plowing, and Sowing, &c. reduce the Rates of Labour ; but a Demand for Artists in the Manufactures always raises the Rates of Wages ; therefore these will always, of themselves, draw the working People to them, if they are wanted. And hence I conclude it needful, in order to carry this Proposal as far towards the End proposed, as the Nature of Things will admit, that the Taxes should be as gradually taken off Goods, and all the Officers in the publick Revenue, as gradually dis- charged, as this Proposal can be executed ; that they may get their Livelihood in such a Way as will increase the publick Stock of Plenty, and that we may have none to succeed to live on the Labour of MONEY ANSWERS ALL THINGS 115 the Industrious, as Multitudes always must*, as long as any Taxes are raised on Goods. || ll8 This Reasoning holds as to our Laws ; which are multiplied almost to Immensity, but ought to be reduced to so small a Volume, and be so clear and easy, that the meanest Subject may know the Laws of his Country as well as the greatest. This is the Case in Denmark, and might be the same here ; and then a vast Number of Hands would be gained to contribute to the Good of Society, in a Way congruous to the Circumstances of Mankind. And as to the Practitioners in Physick, I am sure many of them must get their Livelihood this useful Way, because most of the Diseases and Vices which Mankind are so generally over-run with, will be prevented : For Industry, and every social Virtue will certainly take Place, and remove those Vices and Corruptions, which have drawn in such pro- digious Numbers, as this Profession is so horribly surcharged with. And many of those who (for want of this useful Way to employ them) are now brought up to Divinity, would soon find the Way to be more usefully em- * In a Mass of People, there is not above one half labouring or manu- facturing. For suppose we have 8 Millions of People, and that the Limits of the Age of Labour be placed between 13 and 63, and that of the People are between these Ages; from these we must deduct at least i, under the following Classes; Females, sequestrated from Labour by the Condition of their Sex; theidle, by Rank or Choice; Men of Professions; such as vend the Manufactures of others, but add no real Value to them; the Sick and Impotent. By this Computation, there only remains one half labouring or manufacturing. I am persuaded I put the Number too high, and that there are not above three Millions of working People. The Price of Labour is raised in proportion to the Scarcity of Labourers; they being somewhat like their Commodities, dear in Proportion to their Scarcity: Any Number of labouring People sitting idle increaseth the Price of Labour, double of the Proportion which that Number bears to the whole. For Example: Suppose three Millions of labouring People, and 30,000 Men carrying Arms, or levying Taxes ; 30 ooo is one per Cent, on 3 Millions, and these living on the Labour of the rest makes another one per Cent, in all two, or double of that Proportion. See Ftg't Journal of January 2oth, 1732-3. n6 JACOB VANDERLINT ployed for their own Comfort and Support, than "9 the Generality of that Pro || fession now are, or ever can be, till such a Demand for their Skill and Industry is produced, as the full and sufficient Exe- cution of this Proposal alone can effect. For can it be imagined, that if so much Business could be made as I am aiming at, such a vast Number as now follows this Profession, the Generality of whom are not only insufficiently but scandalously rewarded, would not prefer the Profit, which, in every Employ, must be necessarily connected with such a Quantity of Business, as leaves it doubtful whether Hands sufficient can be found to perform and transact it ? As to the Sword, I would have every Person in the Kingdom trained to all the needful military Exercises, in the utmost Perfection, and that from their earliest Capacity to receive any such Instruc- tions; which, I am sure, would as effectually preserve us from the unjust Attacks of our Neighbours, as any Body of mercenary Forces we can maintain will ever do. And, I think, we should be less liable to make any unjust Attacks on our Neighbours, in this Case ; since Men will not easily be induced to leave their Families and Livelihoods, to carry War and Destruction to those that have not made it necessary. But War seems now a civil Game, to divert Princes, and employ the numerous Troops they keep in Arms; whilst it is become so general a Practice to keep a standing Force, that they are almost become necessary even to free Kingdoms and States. But if, after all, it should be found true, that we can't get Hands enough into Tillage, &c. to carry izo this Proposal compleatly to the End I || am aiming at, yet this must itself be a cogent Reason for carry- ing this Matter as far as may be ; since it is infinitely MONEY ANSWERS ALL THINGS 117 for the Happiness of Mankind, rather to want Hands to do all the Work that may arise, than to have such a vast Number of Hands to spare, as are now de- generated into Vagabonds, relieved by the Publick, or almost perishing for want of Work enough to render Labour so valuable, as to be a sufficient, fit and natural Motive to make them industrious. But, besides this Difficulty of wanting Hands sufficient to execute this Proposal effectually, 'tis objected, that the working People will not now work above 3 or 4 Days in a Week, but get drunk the other 2 or 3 Days ; and that this would be worse, if Necessaries were rendered so cheap as I am con- tending for. In answer to which I must observe, that Necessaries can't be rendered so cheap, as I am aiming at, without employing more of the labouring Peoples Time and Labour, to raise such a Plenty of them as may make them cheaper. Nor can there be this additional Employment for their Time and Labour, till the Reduction of the Price of Necessaries shall not only be this Way attempted, but proceeded in : If therefore I can prove that, notwithstanding the working People do waste a great deal of their Time, they nevertheless do Work enough, and too much too, as Things now stand ; and that they would do more, if it were provided in a Way that would encourage their Industry ; I hope no such Stress ought to be laid on this Objection, as to hinder the Execution of this Proposal. || ii And, First, I say the working People do work enough ; because there is always such a Plenty of all Kinds of Goods in the Hands of the Venders, that the Consumers can always buy what they want. This being undeniably true, shews that the working People, who alone make all these, do Work enough ; the End of making them being to supply the Wants of the Consumers. I2O JACOB VANDERLINT as to cloath so great a Part of the People of the Kingdom in so short a Time, as we usually see them put themselves in Mourning on such Occasions, it must be plain that the working People not only can, but would do a great deal more Work than they do, if they were but somewhat better encouraged by their Wages to do so. Lastly, The full and sufficient Execution of this Proposal is the only natural Way to extend Do- minion, and introduce Liberty amongst Mankind. For wherever so much Land is continually put to use, as will call for all the Hands, Trade, and Manu- factures will suffer to employ themselves this Way, as this will necessarily give full Employment to all 4the People, and || make such Plenty of every Thing, that the meanest of the People will certainly find a comfortable Subsistence for themselves and Fa- milies, so it will infallibly draw the People out of every Nation round us, that doth not attend to this Point in the same Degree ; and consequently cause the People to forsake every arbitrary and oppressive Government, to find such a Settlement, as the Busi- ness so much Land continually added and improv'd will necessarily provide for them. 'Tis true, this will in Time fill this Island with Inhabitants, and improve every Spot of Ground in it. And I suppose it must be this Way that Benja- min Motte computes that the People may be doubled, in so short a Time as 24 or 25 Years : If this be not the Way, I am not able to conjecture how so great an Increase of People should arise, in the small Space he asserts they may be doubled and quadrup- led ; for I am sure the natural Increase of Mankind will require a vastly longer Term, only to double in. But however, if my 9th and loth Principles are true, and I think them self-evident, then the full and MONEY ANSWERS ALL THINGS 121 sufficient Execution of this Proposal must be a great Advantage to the Government, by increasing the Number and Riches of their Subjects, and their Revenues together with them, which Things are inseparably connected. Nay, this Matter ought most certainly to be carried so far as to fill Ireland with Inhabitants, by granting for a considerable Term, on small Acknowledgments, a proper Quan- tity of any waste Land, that any Person shall choose, and be able to || undertake the full Improvement of. And thus, I think, these Kingdoms would soon be- come vastly more powerful ; since 'tis probable, that in less than a Century there would be double the present Number of People found in them. Nor could this possibly fail, I think, unless the Nations round us, to prevent the Loss of their Subjects, should take the same Measures ; and then the In- crease of each Nation would be only such as the natural Increase of Mankind will produce. But this great Advantage would arise to Mankind by this Means, that Happiness and Liberty would be as general and extensive, as the Method I prescribe shall be practised. And this may shew the Folly and Absurdity of making War, on the ambitious Principle of extending Dominion ; since War, if it be continued a few Years, commonly ruins the Generality of the People of such Nations as are vanquish'd ; as we know the late War did France ; and what we who conquer'd got by it, the Taxes we at present groan under, and from which perhaps we shall never be reliev'd, will amply testify. But the Folly of making War, to extend Dominion, appears, in that War lays waste and de- populates Countries, and thereby puts such Nations to great and extraordinary Charges and Difficulties, to preserve and defend such unpeopled Territories 122 JACOB VANDERLINT from the easy Inroads and Invasions of their Neigh- bours, who have as many more Oportunities of Entrance, as the extended unpeopled Territory of any Potentate doth necessarily afford. If therefore it be absurd to make War to extend 126 Dominion ; I should rather say Terri || tory, for that is all that can be got by it*; and if, as I have before shewn, it be unnecessary on the Account of Trade also ; it will follow that War, except in our own necessary Self-defence, is unnatural and wicked ; since these ordinary Causes, viz. extending Dominion or Trade will not justify it. Yet I think there is one Case, in which making War on other Nations may be justifiable, viz. Fighting for Territory when we are over-peopled, and want Land for them, which our Neighbours have, but will not part with on amicable and reason- able Terms. And as this, and necessary Self- defence is all the just Foundation War can ever have ; so War for any other Cause is Murder, aggravated by the horrible Addition of all the Thousands that are destroy'd on both Sides. This must be so, because it's monstrous to imagine, the Author of the World hath constituted Things so, as to make it any Ways necessary for Mankind to murder and destroy each other : And yet he must have constituted Things thus monstrously, if War be necessary on any other Foundation whatsoever. I will now proceed to shew, that the State of the Nation, in Respect of the Trade thereof, is really very different, and much worse than it was about the Year 1688. Erasmus Phillips says, Page 15, that the Year above mentioned was perhaps the Time, when England was in Possession of the greatest Quantity * See the last Paragraph of the Spectator, No. 200. MONEY ANSWERS ALL THINGS 123 of Wealth she ever did enjoy: She was then inrich'd with the Treasure she had || been accumulating for 1 *? about 1 50 Years ; for so long we may date the Progress of Trade in this Nation. And Page 17, he says, As to the Specie of the Nation, the Re- coining 3 Years afterwards makes that Sum almost apparent as to the Silver; for from 1691 to 1697, there was brought to the London and Country Mints, 8,400,000 /. of dipt, light, and hammer'd Money, and in all Probability there might be a great Sum standing out. The mill'd Silver coin'd in King Charles lid, and King James lid's Reign, might be 2,200,000 /. so that we may suppose subsisting in Silver Money, at that Time, about 1 1 Millions. And the Gold we may reckon thus : Coin'd in Queen Elizabeth's Time, "1 j who reform'd most of the old Specie J Coin'd in King James Ist's Time 800,000 Coin'd in King Charles Ist's Time 1,723,456 And in the Reigns of King "1 ., Charles lid, and King James lid. J ' In all L. 10,523,456 But allowing for Deficiencies and "1 Wastes of all Kinds J 3>( The Gold Specie then remains L. 7,523,456 Silver Specie as above 11,000,000 Total of the Specie circulating in \ r R the Nation about the Year 1688. J J And Page 18, he says, There is Reason to believe this was the State of the Nation in Respect to Trade and Money in the Year 1688. || 128 And I will endeavour to shew, that the Trade of the Nation had really stood on such a Foot, during the whole Period of the Coinage above set forth, 124 JACOB VANDERLINT that it was not likely we had thereby diminished any Part of the Specie abovemention'd, on which however so large a Sum as 3 Millions is allow'd for Deficiencies and Waste. In the Year 1645 there were 7966 Christen'd, and 1 1479 Buried. In the Year 1689 there were 14777 Christen'd, and 23502 Buried. The Christenings and Burials, then, being at the Year 1689, about double the Number they were at the Year 1645, makes it evident that the People in London and Westminster, &c. within the Bills of Mortality, were doubled in about 44 Years, notwith- standing that great Plague which happened in this Period. And Dr. Nichols hath assured us, that the Country increased in the same Time, though not in the like, yet in a considerable Proportion. Now since the Prices of all Things in general were as high, if not higher, when the People were so much increased, than the Prices of the same Things in general were when the Number of the People were so much less (and this I shall take for granted as a Thing sufficiently known;) therefore, since we had at the Year 1688 no considerable national Debts, or Paper Effects operating as Money, and thereby inhancing the Prices of Things above the Rates which the Specie itself would support them at, as every Thing which hath the Operation of Money, 9 though it be not such, will || never fail to do ; I say, this could be only the Effect of a vast Increase of real Specie circulating, which thus supported, if not raised the Prices of Things amongst such a vastly greater Number of People, as there was in London, &c. and in the Kingdom in general, at or about the Year 1688, above the Number there was about 44 Years before. MONEY ANSWERS ALL THINGS 125 And since we (having no Mines) could only have such an Increase of Specie arise, by the Balance of Trade being so mightily in our Favour, as to increase the Money so vastly in so short a Time as about 44 Years ; I think there can be no room to imagine, the Specie, coin'd as above, was at all lessen'd in this Period. But it will still be a Question, Whether the Specie was not diminished before the Year 1645 > since the Beginning of the Coinage goes much further back. To which I answer, that it is well known that our Trade at 1645 was DUt f about 100 Years Date, and therefore I shall say it was but in its Youth. And as it is a Circumstance, always attending the Beginnings of foreign Trade in every Nation, to have the Balance in their Favour ; because such Nations having no Mines, cannot have much Money amongst them,* on which Account || their Produce 130 and Manufactures must needs be low in their Price: And as this is the chief, if not the only Circumstance which lays the Foundation of the Exportation of the Commodities of any Country ; so this being then our Case, must needs be the Means of increasing the Gold and Silver amongst us, from the Time of Reforming the old Specie by Queen Elizabeth, to the Time whence I begin that great Increase of the People. But further to establish this Point, give me Leave again to make use of Dr. Nichols's Author- ity in the beforecited Place, where he says, "To con- sider further how mightily this Nation of ours hath *The Sum coin'd in Queen Elizabeth'* Time, who reform'd most of the old Specie, shews we then had not much Money amongst us ; whereas the Sums coin'd in the Reigns of King Charles lid, and King James lid, being 6 Millions and an Half of G jld, and 2,200,000 in Silver, shew we had a vast Balance in our Favour, near 9 Millions being coin'd during these two Reigns. And this suggests that my Argument is just, that asserts the vast Increase of People during these Reigns, was owing to such a vast Balance of Trade in our Favour. 126 JACOB VANDERLINT "increased within a Century or two, notwithstanding "the many civil and external Wars, and those vast "Drains of People that have been made into our "Plantations since the Discovery of America" If the Nation did really increase so mightily within a Century or two, and it be an undeniable Fact that the Prices of Things advanced too during that Time, we must during that Time have had an Increase of Money, in Proportion both to such an Increase of the People and Prices of Things, as hath been before reason'd on this Point. Therefore I think it appears more than probable, that the Specie coin'd as above, was not diminish'd, but really circulating amongst us about the Year 1688. Let us now see how different the State of the Nation, and consequently the Trade thereof, now is in this Respect. || The Cash of the Nation is by most People, so far as I can learn, esteem'd to be about 10 or 12 Millions. But Erasmus Phillips endeavours to shew that it is* And in his Preface, he says, the ' National Debt is 53 Millions, a sixth Part of which, he says, Foreigners are generally supposed to have ; which, allowing the Debt to be now somewhat lessen'd, can hardly be put lower than I The Balance of Specie, which we may then call our own, will be > L. 15,000,000 L. 8,000,090 L L. 7,000,000 * Mr. Richard Bradley, Professor of Botany in the University of Cam- bridge, and Fellow of the Royal Society, in his Philosophical Inquiry into the late severe Winter, and Scarcity and Dearness of Provisions, printed 1729, Page 5 and 6, says, "It was generally computed that we 'had in England, in the Year 1715, about 13 Millions Sterling Money; MONEY ANSWERS ALL THINGS 127 That is 1 1 Millions and an Half less than we had about the Year 1688. Now whether this great Diminution of our Specie be attributed chiefly to the vast Expence of King William and Queen Anne's Wars, as || without 13* doubt it must in a great Degree ; or that the Balance of Trade since that Time hath been against us, and contributed to this Diminution ; it's evident the State of the Nation, being now so vastly different in respect of real Specie we can call our own, must have a malignant Influence on our Trade ; whilst the Prices of most Commodities and Necessaries of Life, by the Operation of Paper-Effects, are maintain'd at higher Rates than those Things bore before the Year 1688. Therefore I conclude, Since we have so much less Specie we can call our own, and such a vast Value of Paper-Effects operating as Money, and are indebted to Foreigners such a great Sum, the Interest of which they are continually drawing from us, besides a vast National Debt ; that the State of Trade is as much worse than it was in the Year 1688, as the State of the Nation is so: For the Re- lation between these are such, if rightly consider'd, that they ought to be esteem'd as but one and the same Thing, notwithstanding we seem to distinguish them by different Names. Another Point, whence I argue that the Trade of "of which it was reckon'd there were about n Millions circulating: But "since the Year 1720, and from thence to 1724 or 1725, there were scarce "7 Millions supposed to circulate; which, he says, must necessarily hurt "the poorer Sort of People ;" and I say, every other Sort in general with them, though not in the same Degree, perhaps because, we know, as the Proverb says, the weakest must go to the Wall. t Fog's Journal of January 20, 1738 says, the Interest due to Foreigners upon the Publick Funds, may be put at 400.000 /. per Annum: If so, we must owe them at least 10 Millions; for that Sum at 4 per Cent, comes to but 400,000 /. and if we reckon the Interest lower, the Principal must be greater in such Proportion. 128 JACOB VANDERLINT this Nation is in a worse State than it was about the Year 1688, is the different Increase of the People since that Time to the Increase in the preceding 44 Years. In the Year 1730, there were 17118 Christen'd, and 26761 Buried. In 1689, (which I stopt at,) 14777 Christen'd, and 23502 Buried. The Difference increased is, Christen'd 2341 and X 33 Buried 3259, or about | Part of the || Number of the Year 1689; which shews the Increase of the People since that Time to be about so much: Which being so far short of the preceding Period of 44 Years, shews that our Trade is in as much worse State, as the Increase is less in near the same Length of Time. But the great Increase, in the before-mention'd 44 Years, will be partly ascribed to the great Number of French Refugees, that came and settled here in that Period. But I think they could not have found a Settlement with us, if our Trade had not been in a very flourishing State, without improving so much waste Land as their Numbers required, and thereby reducing the Prices of our Produce and Manufactures in such Proportion : Whereas it's certain no such Fall happen'd, and therefore it follows we had so much greater Exports of our Produce and Manu- factures, as were equal to the Imployment so great an Addition of Hands did require to support them. And the great Quantity of Money coin'd in this Period of doubling, which was perhaps equal to all we had before circulating amongst us, shews that this was the Case, since nothing but so much greater Exports than Imports, could have brought us such a Balance of Gold and Silver, or have supported the Prices of Things. MONEY ANSWERS ALL THINGS 129 This therefore shews, that the Increase or De- crease of the People in any Nation, depends more on the Balance of Trade than on any other Con- sideration whatsoever. For where the Balance is considerably in favour of any Nation, there the People finding Employment do || always flow; and 134 contrarywise, if the Balance be considerably against a Nation, the People must forsake it ; a melancholy Proof of which some of our Colonies do furnish, many People of all Degrees, if we can rely on our News-Papers, abandoning them. Nor can they ever be recover'd but by their raising Corn and Cattle, which includes almost every Thing, instead of their Staple of Sugar, &c. which they find will not produce enough of the Necessaries and Comforts of Life for all the People. But if they were to raise these necessary Things, and make them so plenty as to inable them to Work full as cheap as the French, who have now got the Staple of Sugars from them, and thereby that Trade from this Nation ; our Plan- tations would soon bring that Staple back again, or at least come in for their Share in it, and all other Branches of Trade which their Soil and Climate are by Nature most adapted to. And since I have digress'd so far about our Plan- tations, which I have done for their sakes, I must say, I can't think it good Policy to carry our People to them, whilst we have waste Land enough at home to improve and employ them ; since by carrying the People away, we lose so many Consumers of our Produce, &c. and Occupiers of Rooms, if not of Houses ; which necessarily brings a proportionable Loss to the Revenue with it, besides the Charge of transporting and settling them. Instead of which, did we but cause the Trade of our Colonies to be put on such a Foot as I am 130 JACOB VANDERLINT pointing out, People enough would soon forsake 135 arbitrary and oppressive Governments, || to find so happy a Settlement, as such a State of Trade in our Plantations would of itself produce, and is neces- sarily connected with. And this I am as certain of, as that Mr. Corbert in his Answer to the French King {Guardian N 52)" was certainly in the right, when he told his Majesty, That the People will never stay and starve in any Country, if they know of any other where they can subsist themselves comfortably. Another Point, whence I argue the State of Trade to be worse than it formerly was, is the great Number of empty Houses, not only in the Suburbs and new Buildings, but in the Strand, Fleet-street, Ludgate- hill, Cheapside, and Cornhil : For I think Houses shut up in Cheapside and Cornhil, are an unanswer- able Proof of the bad State of Trade in this City ; and I suppose, if the new Buildings were extended further than they are like to be, Cornhil could hardly be affected by them ; since so long as the Royal- Exchange stands there, and Ships can't sail thro' London- Bridge, it should, I think, be the Seat of Trade, as it is certain it hath heretofore been. But how is its State of Trade alter'd ! How many Milliners, Pastry-Cooks, and other inconsiderable Trades fill the Houses, where opulent wholesale Dealers dwelt, whilst several other Houses have been shut up for some Time ! And to me it appears absurd, to impute this to any other Cause than the different State of the Trade of this Metropolis*, *That the Trade of this Metropolis is so much worse than it formerly was, is ascribed to the Peace, which hath open'd the Trade of all the Ports of the Kingdom, so that they can carry on Foreign Trade in most of them, which during the War was chiefly carried on at this Port only, the Trade of the other Ports not being considerable enough to obtain Convoys, without which hardly any foreign Trade could be carried on in MONEY ANSWERS ALL THINGS 131 which || I shall always regard as an Index of the 136 State of the Trade of the whole Kingdom. I have before taken Notice, that the great Number of empty Houses is ascribed to the new Buildings of late Years. But I can't conceive the Buildings in the last forty Years, to have been near equal to what they must have been in the preceding forty Years, when the Buildings must have been so numerous as to equal the whole Number standing in London, Westminster, and the Suburbs thereof before that Time ; because the People having doubled in the next forty Years (as appears by the Bills of Mortality) must needs have double the Habitations to reside in. And here I wave the Buildings which the Fire of London occasion'd, tho' that must have been prodigious, for it happen'd in this Period of doubling. Nay, it must be evident, the Buildings this last forty Years, can't have been near equal to the Buildings in the preceding forty Years, because abundance more Houses wou'd now be empty than there are, if this were the Case, since the People have not increased above |, or thereabouts, for the last forty Years, tho' they doubled in the preceding 40 Years, or thereabouts, as hath been shewn. Another Point, whence I argue, that Trade is in a much worse state than it formerly || was, is that 137 we send Money to Spain, whence we ought most certainly to receive it : For Spain having the Mines of Peru and Mexico, and being so very careful to keep the Riches of them to themselves, that they search all Ships in those Parts, and if they find any Money on Board, confiscate them, and bring all the War time. In answer to which, I shall only observe, that all the Ports in the Kingdom were as open and free to carry on foreign Trade, during most part of the Period in which it hath been shewn the People in Lon- don, Westminster, and Suburbs doubled, as those Ports have been since the Utrecht Peace. 132 JACOB VANDERLINT Treasure of those Mines home to Old Spain, in the King's Ships call'd Galleons, Register-Ships, &c. Therefore Spain being the great Receiver of this vast Treasure, consequently must have the Prices of all Commodities at as much higher Rates than other Nations, as the Wealth these Mines continually furnish, is greater than any other Nation can receive, who have no Mines but their Trade. And as it is this which doth, and which in the very Nature of the Thing should give us and other Na- tions, who have no Mines, the Advantage of vending Goods to Spain, so as to have the Balance on them, and every Country that hath Gold and Silver Mines ; so it will follow, that our Trade is really in a bad Condition, if we pay them any Money at all. And yet by our Bills of Entries it appears, that we Ex- ported to Cadiz in Spain, September 7, 1732 - - 2000 Ounces of Gold 9 - - - - 2000 Novemb. 4 2000 Decemb. 16 3000 19 - - - - looo January 7 - - 3000 In all 1 3000 Ounces of Gold, || or about L. 50,000 in so short a Time. I could produce many more Instances from the Bills of Entry; but these are sufficient to prove that the State of our Trade is not only worse than it formerly was, when we undoubtedly had the Balance in our favour on Spain, but that the Trade of this Nation is in a very bad Way indeed ; unless it can be proved that Gold in Spain, is so much more valuable in respect of Silver, than it is with us, that it will pur- chase so much more Silver in Spain than it will do here, as is sufficient to pay the Freight of the Gold out, and of the Silver home, and the Insurance for MONEY ANSWERS ALL THINGS 133 the Hazard of the Sea out and home, with Postage of Letters, and Commission to the Merchants in Spain, and a Profit sufficient to induce our Merchants to export Gold to bring home Silver for it. And besides all these Articles, together with the Interest of the Sums for the Time such a remote Voyage as Cadiz will require ; for the Return can hardly be put at less than 5 per Cent, that Silver must be cheaper with respect to Gold in Spain, than it is with us ; I think I may be positive that the Difference cannot be so great between these Commodities, since Portugal, which abounds in Gold from the Brazils, would find their Account in this Trade, which by their Neighbourhood with Spain, they cou'd carry on at half the Charge, and for half the Profits, which our great Distance from Cadiz, makes absolutely needful for us. And since the Merchants in Portugal understand getting Money as well as others, can we imagine their Gold would come to us, as we || find by its i 39 Circulation amongst us it doth, if they could buy Silver with it at such cheaper Rates in Spain, as would enable them to send us Silver at so much higher Rates in respect of Gold, as the Silver would thus cost them less than it is worth with us, in respect of Gold? Hence therefore I conclude, that nothing but Spain's having such a Balance upon us, can be the Cause of our sending them this Money. And, I think, nothing but our Paper Effects, which are almost immense, if we consider the publick Secu- rities of every Kind, and Bank Notes, &c. which have the Operation of Money amongst us, could possibly raise and keep our Markets so high, as to cause us to receive more Goods in Value from Spain than they take of us. And yet, I think, this must be our Case, tho' we carry them only Gold. And 134 JACOB VANDERLINT thus it may be said, we carry Coals to Newcastle ; nor can the Event be different, if we go on so, ex- cept that this Matter is of so much more Importance, as Gold is more valuable than Coals. I must own I have heard it supposed, that the Merchants in Spain, to avoid the Delays that of late Years have attended the Delivery of the Money from on Board the King's Ships, and also to elude paying the Indulto thereon, have found means to convey their Money by our Ships to England, and that this occasions the Exportation of Gold to Spain ; but I think this Trade so dangerous, both to the Merchants in Spain, and our Ships too, that I know not how to admit this for a sufficient Reason. Another Point, from whence I shall argue that 140 our Trade is in a much worse State than || it formerly was, shall be the following Estimate of the necessary Charge of a Family, in the middling Station of Life, consisting of a Man and his Wife, four Children and a Maid-Servant ; so as I think a Person that hath such a Family, and employs L. 1000 of his own Money in Trade, ought to live. For if such Families must not have Necessaries enough, and I believe it will appear I have allow'd no Superfluities, I think we ought to give up Trade, and find some other way to live. For Trade terminates ultimately in the Consumption of Things, to which End alone Trade is carried on : Therefore if those that employ L. 1000 of their own Money, shall not be able to supply such a middling Family with needful and common Things, What then becomes of the Consumption of Things? or, in other Words, What becomes of Trade? For, to be sure, not one Person in a good many is the real Owner of such a Sum. If therefore such Families must retrench and abridge themselves of common needful Things, those in Trade below them, in this respect, must 141 much more do so, if they have Families. || MONEY ANSWERS ALL THINGS 135 An Estimate of the necessary Charge of a Family in the middling Station of Life, consisting of a Man, his Wife, four Children and one Maid Servant, which I take to be a middling Family. per Head per Day d. Bread for seven Persons \ Butter f Cheese i 2* Fish and Flesh Meat Roots and Herbs, Salt, Vinegar, "] Mustard, Pickles, Spices and \ Grocery, except Tea and SugarJ Tea and Sugar Soap for the Family Occasions, ~| and Washing all manner of ' Things both abroad and at home Threads, Needles, Pins, Tapes, ^ Worsteds, Bindings, and all j- \ sorts of Haberdashery J Milk one Day with another Candles about 2\ Ib. per Week the Year "I round / H Sand, Fullers Earth, Coal, Brick-dust Whiting, Small 10 Shilling Small Beer, a Firkin and a Quarter per Week Ale for the Family and Friends Coals, between 4 and 5 Chaldron per Annum may be Estimated at - Repairs of Houshold Goods, as Table Linnen, Bedding, Sheets, and every Utensil for Houshold Occasions - 6s. 20". per Head Weekly for seven Persons amounts to near Daily Expence t. d. Weekly Expence I. s. d Yearly Expence I t 3 of i* i oi i 5* 10 2} Si 2 oi 7 4 i ID* 6 ii Si 2 Oj f Si i 3 2 3 ! 2 6 2 6 i 6 L.2 3 1} 112 10;] 142 136 JACOB VANDERLINT Yearly Expence I. s. Brought over 112 10 Cloaths of all Kinds for the Master of the Family 16 Shaving 7 /. 6 d. per Quarter, and cleaning Shoes 2 s. 6 d. \ per Quarter / Cloaths for the Wife, who can't wear much, nor very fine \ , Laces with ] Extraordinary Expence attending every Lying in L. 10, sup- \ posed to be about once in two Years j Cloaths for four Children, at L. 7 per Ann. each Child 28 Schooling for four Children, including every Charge there- ~\ unto relating, supposed to be equal at least to ten Shillings 8 per Quarter for each Child J The Maid's Wages may be 4 10 Pocket Expences for the Master of the Family, supposed to \ be about four Shillings per Week J For the Mistress of the Family, and for the four Children to \ buy Fruit and Toys, &c . at two Shillings per Week j Entertainments in return of such Favours from Friends and \ Relations J Physick for the whole Family one Year with another, and the extraordinary Expence arising by Illness, may be much more than A Country Lodging sometimes for the Health and Recreation 1 of the Family, or instead thereof, the extraordinary Charge I of nursing a Child abroad, which in such a Family is often [ thought needful J L. 225 Rent and Taxes may be somewhat more or less than 50 Expences of Trade with Customers, and travelling Charges, ~| Christmas-Box-Money, and Postage of Letters, &c, for the > 19 sake of even Money, at least J Bad Debts which may easily be more than 2 per Cent, on the \ supposed Capital of L. 1000 .315 There must be laid up, one Year with another, for twenty ~| Years, in order to leave each Child, and a Widow if there > 75 should be one, L. 500 L. looo therefore by this Estimate should gain one Year with "\ '43 another / 39O MONEY ANSWERS ALL THINGS 137 Which for the sake of a round Sum I will call 40 per Cent, per Annum, in order to support such a Family, and provide L. 500 a Piece for four Children, and a Widow, if there should be one left, which if not, will augment each Child's Share but L. 125. And here I suppose a Man to live twenty Years from his Marriage to his Demise, which I take to be about the Term one Man or Woman with another doth live. I don't mean by this that no Man or Woman lives longer from the Time of Marriage than twenty Years ; I know many live much longer ; but I am equally certain that as many never reach this Term as others live beyond it. And it will also many Times happen, that 5, 6, 7, 8 or more Children must be brought up by some Parents, tho' perhaps it will more frequently happen that less than four will be raised by others. But those that shall happen to have seven or eight Children, will find the *]$l.perAnn. supposed in this Estimate to be laid up, in order to provide 500 /. a Piece for four Children, hardly sufficient to bear the extraordinary Charge, which so many more Children will occasion in this Rank of Living. And surely it must be very hard, that the Man who happens to have a numerous Family (and many such there always are) should thereby be render'd not only uncapable to provide any Thing for them to set out in the World with, but be reduced in a Course of Years, as he certainly must, if L. 1000 in Trade will not produce at least 40 per Cent, per Annum. || But I have not produced this Estimate, only to shew what is the needful Charge for the decent Support of such a Family in this Rank of Life, but chiefly to shew that our Trade is in a much worse State than it was about forty or fifty Years ago : 138 JACOB VANDERLINT For then it was a very common Thing for People, from small Beginnings, to raise L. 5000 or more for each Child, tho' the Families were as large as my Estimate supposes : Which is a Truth so well known, that I shall not attempt any Proofs of it, but take it for granted, not doubting that the Ob- servation of the aged and judicious Tradesman will allow it me ; and further concur, that the State of Trade in general will now by no means admit of making 40 per Cent, per Ann. on a Capital of L. 1000, or perhaps hardly more than half as much. Yet I will not say there are no Instances of such Profits ; for perhaps such there will be, as long as there is Trade amongst us : But I am certain they are few, and hard to be found or guess'd at, there being too many People in almost every Occupation to admit of such Gains. And I am as certain, that the In- stances of raising pretty Fortunes for Children, about forty or fifty Years ago, from very small Be- ginnings, were vastly more numerous than any are to be found, at this Time, that can make any thing near 40 per Cent, per Ann. on a Capital of L. 1000. And therefore, I think, I may justly conclude, that Trade is now in much worse Circumstances than it formerly was. But were our Trade to be put on the Foot I am pointing out, less than 30 per Cent, per Annum || on such a Capital, wou'd be as sufficient for the Support and Provision of such a Family, as 40 per Cent, per Ann. is, as the Prices of Things now go: And then the Demand for, and Consump- tion of every Thing would be so much augmented, that it would be as easy to make $oper Cent, per Ann. on such a Capital, as it is now to make 20 ; for then our Trade would be in that flourishing State I am aiming at. But from what I have now said, and also from this MONEY ANSWERS ALL THINGS 139 Estimate, it must appear, that the Wealthy have the Business and Affairs of the trading Part of the People transacted, on Terms as much below the reasonable and just Value thereof, as the Profits such a Sum will generally make, are less than the Estimate shews to be needful for a middling Family in this Rank of Life. Therefore such diffusing Property amongst the People in general, as hath been before in this Essay represented, is absolutely needful, not only for the Sake of the labouring People, but for the trading Part too ; who together undoubtedly are more than 19 Parts in 20 of the People of the Kingdom*; the Generality || of whom, 146 by the several Estimates, appear to be in equal Difficulties, in Proportion to their Stations in Life. And if so, is there any room to wonder at the Misery we see amongst the Poor, or the Ruin which so frequently befals the middling People ; since by both the Estimates it appears, the Nature of Things, in our present Circumstances, is so big with these Evils, that we may much rather wonder the Misery and Ruin are not universal ? Again it must appear by this Estimate, that if 1000 /. employ 'd in Trade, ought to make so large * Let us see how many Gentlemen we may be supposed to have in the Kingdom, by dividing the whole Rental of 20 Millions into L. 500 per Annum, for each Gentleman, at a Medium; which I am sure is cutting it into as many Pieces as it can be reasonably imagin'd there are Gentle- men that subsist solely on their Estates. Now 20 Millions divided by 500 gives 40,000, the Number of Gentlemen which, on this Supposition, live on their Estates in this Kingdom : But if we consider how many large Estates there are, and how few Gentlemen can subsist on L. 500 per Annum, as the Prices of Things now go, it's very unlikely there are near this Number of Gentlemen that subsist solely on their Estates. And yet this Number, which, including their Families, with Servants and all, I shall put at 8 Souls at a Medium, is but 2 VP art f 8 Millions of People, which are supposed to be the least we have in the Kingdom. The rest therefore, except such as have Places under the Government, must neces- sarily be subsisted by Trade or Labour ; and their Number must, by this Rule, be more than ' o of a " tne People in the Kingdom, as I have asserted above. 140 JACOB VANDERLINT a Gain as about 40 per Cent, per Ann. all necessary Means should be used, to make as large a Con- sumption of all Kinds of Goods, as the Nature of Things is well capable of; which, as hath been before sufficiently shewn, can hardly ever be equal to what the Wants of the People, according to their several Ranks and Stations only, will necessarily require. And this should also be done, for the sake of returning the Capitals employed in Trade, as frequently as possible ; since the quicker the Re- turns are made, the cheaper will the Goods come to the Consumer ; and the slower the Returns are made, so much larger should the Profits always be, that is, so much dearer ought the Goods to be sold to the Consumer. If this is not the Case, the Tradesman must suffer, || which is very unreason- able, since all Trade is carried on solely for the Use and Benefit of the Consumer. Again, this Estimate shews, how unfit it is to give or take long Credit in Trade ; since the Advance of the Price of Goods sold on Time, ought not to be reckon'd with any Regard to the Interest of Money on Securities, but by the Rates of the Profits which the Capitals employ'd may require to answer the End of Trade, which is not only the continual Sup- port of Families, but such a Provision for them as may, at least, leave the Children in Condition to fill up the same, if not better Stations in Life, than their Parents were in. For as all below this Point ap- proach so much nearer Poverty, so, if such Descent towards Poverty be too general amongst the trading People, the Rents in general will not only fall, but be lost ; and this, I imagine, is both seen and felt too at this Time. And therefore, I think, giving long Credit in Trade, which is now become much too general, ought to be MONEY ANSWERS ALL THINGS 141 remedied ; since it must affect the Landed-Men, either in the high Price of their Consumables, or in their Rents, or perhaps in both. The last Thing I shall mention, to shew that our Trade really is, and hath been, for some consider- able Time past, growing into a much worse State than it formerly was, shall be the acknowledged Dearness of the Labour of the People in England, to the Price of Labour in most of our Neighbour Nations ; the Effect of which hath been so detri- mental to our Trade, || that the Nations round us 148 have, in less than half a Century, enter'd on, and set up the Fabricating many Manufactures, which they before that Time had from us only : Which hath not only been observed, but lamented by many of our Merchants and Tradesmen, &c. And at length, as is notoriously known, the Dearness of Labour hath been found so burthensome to our Farmers, that the Gentry and Justices of the Peace, in their open Quarter Sessions, have lately, in several Places in the Kingdom, attempted to redress this Evil, by regulating the Rates of Servants Wages. Now this Attempt, though it be unnatural, and impossible to answer the End, is however a publick Acknowledg- ment, that our Trade is in a very bad State. For if our Labour be really too dear, as it most certainly is, then all our Commodities must be so too; which must necessarily greatly lessen the Vend and Con- sumption of them. And hence it will follow, that this publick Attempt to reduce the Rates of Labour, amounts to a publick Declaration that our Trade is in a very bad State. But after all I have offer'd, which I think abun- dantly sufficient to prove that our Trade is in a much worse State than it formerly was, I know it will be objected, that we have, at this Time, as much 142 JACOB VANDERLINT Trade amongst us in the Nation as we ever had ; and that therefore our Trade is not so bad, as I have shewn it to be. Now, tho' I should allow the Objectors their Assertion, yet, I think, I can not- withstanding produce several Reasons, to shew that our Trade is in a much worse State than it formerly 149 was; as, || First, That the People in this Kingdom have in- creased considerably within the last half Century : For I have before shewn that this Town is increased about I Part, in the Space of about forty Years. And Sir William Pettis says, A Nation will double itself in 200 Years, if it be free from War, Pesti- lence, or Draining for distant Colonies. 15 Now 40 Years being \ of the Period he asserts a Nation will double in, it follows, by this Authority, that the People in this Kingdom must be increas'd \ within the last forty Years : If therefore our Trade be not i Part greater than it was about forty Years ago, which I am sure cannot be shewn, it follows, that as our Trade is less, in Proportion to this Increase of People, than it formerly was, it therefore must be so much worse. I am sensible it may be objected, that we have, within half a Century, had two Wars with France, as well as one in Ireland upon King Williams coming in ; and that therefore this Authority will not support so great an Increase as I have deduced from it. But I answer, That we had so good a Trade about the Revolution, and during both those Wars with France, as drew more People from abroad to us, than these Wars did probably destroy. Again, Secondly, allowing that we have now as much Trade in this Kingdom as we formerly had, yet it must also be allow'd, that if Trade be now carried on for less Profit, than it formerly was, as it MONEY ANSWERS ALL THINGS 143 undoubtedly is ; and this I fear not will be generally granted; besides, that I think, what I have said under the last Estimate, doth sufficiently prove as much: I || say, if Trade be now carried on for less 150 Profits ; and if the Charge of Living be likewise grown much greater than it formerly was, which I know will easily be allow'd me too, surely then Trade must necessarily be much worse than it formerly was, notwithstanding we may have as much Trade as we formerly had. But altho' the Proofs I have given, are sufficient to shew that Trade is certainly in a much worse State than it formerly was, especially in this Metropolis, I think it will not be unnecessary to shew how Trade stands in the Country in this respect. Now it hath been long asserted, that many Farmers, in several Parts of the Kingdom, from the Cheapness of the Produce of the Ground, and from the Dearness of Labour have been obliged to throw up their Farms to their Landlords. And of late this is grown so generally the Case, that the News-Papers* have assured us, that most of the Farmers all over the Kingdom must inevitably have been ruin'd, had not Corn, &c. taken a sudden con- siderable and unexpected Rise, which the War now broke out in Italy hath occasion'd. And this seems to be allow'd to be Fact, even by the most sanguine of those that contend for the present most flourishing State of our Trade, whilst they content themselves with assigning this Cause for it, viz. That the Gentry truly do not now live, and spend their Money in the Country, as for || merly. Now this, 151 * Leghorn, Nov. 7. The Emperor hath strictly prohibited the Expor- tation of Corn from Naples and Sicily. Whence we hope the Demand for British Corn in Spain and Italy will be so great, as to save our Farmers from the inevitable Ruin which must otherwise have attended them. London and Whitehall Evening-Posts of Nov. 17, 1733 . 144 JACOB VANDERLINT if it be true, seems to me a very inadequate Cause, either of the late Cheapness of the Produce, or present Dearness of Labour ; to which Causes the Farmers justly attribute the unhappy Dilemma they have for some Time labour'd under. But however ; Fact it seems it is, that the Farmers, generally, were so near inevitable Ruin as is above asserted: Now I would fain know what the State of Trade must be in the Country, when the Farmers in general were in so dreadful a Condition: For the Trade in the Country, I think, turns chiefly, if not entirely, upon the general Prosperity of the Farmers; for I believe the Country People would be able to raise but few Manufactures, if the Farmers in general were so reduced, as to be unable to raise the Prin- ciples out of the Ground, for them to work on ; and yet this must be the Case, if the Farmers were generally ruin'd. For the Gentlemens employing their Farms themselves, would not mend the Matter ; since they find by Experience, those Farms always bring them in Debt, on which the Farmers find they can't get a Livelihood ; which therefore in the End, must ruin the Gentlemen as well as the Farmers. And therefore it follows, that, allowing the above Fact to be true, the Trade in the Country, as well as the Trade in London, is in a much worse Condi- tion than it was formerly, when the Prosperity of the Farmers, and other Circumstances, enabled the Gentlemen almost universally to raise their Rents, as it's well known they have done very considerably, 152 within the Space of 30 or 40 Years last past. || But I shall now proceed to obviate an Objection, which, as Things are now circumstanced, may seem to lie against this Proposal, viz. 'Tis objected, that the Plenty is now so great, as to reduce the Price of the Produce so low, that the Farmers can pay MONEY ANSWERS ALL THINGS 145 no Rent ; and therefore it follows, that we have already broke up and improv'd too much Land ; since such Plenty can arise only from having too much Land in Use. In answer to which, I shall first observe, that the Price of Things may be reduced too low to answer and turn to Account, not only from the Plenty of those Things consider'd in themselves, but from the Inability of the People in general to purchase them, in such Quantities as their Wants may require ; since a considerable Abatement of the Consumption of any Thing, will operate to the Reduction of its Price, more than even Plenty of any Thing, con- sider'd with due Regard to the Wants of the People, will do* ; and whoever considers the two Estimates I have produced, which shew || how much greater 153 the Wants of the People are, than they can in general be supposed to get, must ascribe the present low Rates of the Produce, at least as much to an Abate- ment of the Consumption, as to the Plenty con- sider'd as aforesaid ; since by those Estimates it plainly appears, the Wants of the People are mightily abridged. Again, this Objection is contrary to the Nature of the Thing itself; since it suggests that Plenty is so enormous an Evil, as in general to ruin the * If the Wants of the People are too much abridged, they must on that Account want Employment, and lose Time, which will make the rest of the Time they work more valuable, seeing they must have a whole Sub- sistence, tho* they shou'd be supposed to work but half their Time: Whence the Things they make will become too dear to answer, and turn to Account, because the Want of a sufficient Demand for, and Consump- tion of them, which are Consequences connected with these Circumstances, will at the same Time (that it inhances the Charge of making them) depress the Value of them. On the contrary, if we would make Things cheap, the People must, if possible, lose no Time; because only such full Employment can make every Thing cheap, and put it in the Power of the People to purchase, and consume all the Things they raise, and make. And hence only can the Demand become great enough, to make them answer, and turn to Account. IO 146 JACOB VANDERLINT Farmers and Gentlemen. For if the Farmers can't pay their Rent, they will certainly one time or other be seized on, and torn to Pieces ; and the Gentlemen must also be ruin'd, if they can get no Rent for their Lands, as this Objection suggests. Now since Plenty is in its own Nature a general Good, and a universal Blessing, always promoting and increasing the Con- sumption thereof, nor can possibly ever be other- wise; this Objection, which suggests that Plenty is an Evil, and so great a one too, must be contrary to the Nature of the Thing itself. Again, if it were true, as this Objection suggests, that we have already so much Land in Use, as makes the Plenty so great, as to reduce the Price of the Produce so low, that the Landlords can get no Rent for the Lands ; yet if it can be made appear (as I think by what I have said in this Essay it doth) that more Land is wanted to give full Employment to all the People, and thereby to supply their reasonable Wants, it will follow, whether Gentlemen can or 154 cannot get any Rent for their Lands, that the || People have a just and reasonable Right to have so much more Land put to Use, as shall be needful and sufficient to give them full Employment, and subsist them comfortably; because every Person is, by Nature, as much intitled to all the Land he can cultivate and use, as he is to the Air in which he breathes : For he can no more live without culti- vating the Ground to supply his Wants, than he can breathe without Air. And therefore, since Mankind are all by Nature born equal in this respect, it can never be reasonable to abridge any Part of Mankind of this their natural Right, unless it can be clearly prov'd, that it is for the Good of every Individual to be thus abridged ; and therefore, that they ought either to purchase, or pay Rent for the Land they MONEY ANSWERS ALL THINGS 147 shall use and enjoy. And this indeed, I doubt not, I could clearly make appear, if I were to shew the Preference of Civil Government, rightly administer'd, to a simple State of Nature without Government ; of which the Hottentots seem to me to be the chief, if not the only Instance we have now perhaps in the World ; and yet, I believe, I should prefer their abject Condition to any arbitrary or oppressive Government on Earth. But I deny that there is, or ever was such a Plenty as this Objection suggests; because the Produce of the Ground, when brought to Market by the Farmers, is always sold for ready Money. Now it is impossible that any Thing can properly be said to be too plentiful, for which the Demand is always so great, as to make it a ready Money Commodity. For if the Plenty were really too great for the De || mand, it would, as we know 155 many sorts of Goods and Manufactures are, neces- sarily be sold for Time. And since nothing but a greater Plenty of any Thing, than the Demand for it requires, is the Foundation and Cause of selling such Things on Credit, it follows, that the Produce is not too plentiful, since it's always sold for ready Money. Nay, Victuals and Drink, which are the only Things in this Objection I am properly con- cern'd with, are so far from being too plentiful, that they are generally sold for ready Money, even down to the meanest Consumer. For the Number of those who do not pay present Money for these immediate Necessaries, are not only few in Com- parison, but even those Persons, generally speaking, always pay for these immediate Necessaries in a very short Time, unless when such a one happens to be trusted, that is not able to pay at all. And this, I believe, is so generally known to be true, that I need not fear having the Concurrence of the 148 JACOB VANDERLINT People in general on my side ; by which the Truth of this Argument must stand or fall, no other Proof being possible in this Case. If therefore it be not the Plenty of the Produce, that is the Cause that it is at present sold so cheap, that the Farmers can pay no Rent, as I think I have sufficiently proved it is not, it will be necessarily required to shew what is the Cause of so melancholy a Truth, as this Objection is founded on. For I allow that perhaps there never were so many Farms quitted, and thrown on the Gentlemens Hands in England, as at this Time. || Now this Cause I assert is chiefly, if not solely owing to too great a Scarcity of Money amongst the People in general. And in order to prove this, I must shew what are the Signs of a sufficient Plenty, and of too great a Scarcity of Money amongst the People. Now the Signs of a sufficient Plenty of Money are these ; the Houses well fill'd with Inhabitants, the Rents well paid for them, and Fines exacted ; as also, that the Rents for Lands in general be well and duly paid ; and that we be not over-burthen 'd with Poor ; nor our Roads or Streets infested with Highwaymen and Robbers : When Things are thus circumstanced, Trade may be truely said to be in a flourishing State, or Money, on which Trade floats, may be said to be sufficiently plentiful ; and more plentiful than this it never can be. On the other hand, since it is now notorious that the Number of empty Houses is very great, and instead of Fines for them, as formerly, the Rents are lower'd, and still falling ; besides, that the Land- lords very frequently fit them up too for the Tenants; and our Poor are so very much increased, that we are obliged to transport many of them ; and our MONEY ANSWERS ALL THINGS 149 Roads and Streets are so exceedingly infested with Highwaymen and Robbers, as perhaps the like was never ; and since the Objection says, the Landlords can now hardly get any Rents for their Farms : These Signs therefore, being exactly the Reverse of the former, must needs be as certain and evident Proofs of a Decay of Trade, or, which is tantamount, of too great a Scarcity of Money amongst the People in general, || as the aforemention'd Circumstances 157 were Signs and Proofs of a flourishing Trade, and a sufficient Plenty of Money amongst the People in general ; nor do I know what Kinds of Proofs could be produced, or reasonably required besides, or stronger than these. For if, when the Houses were well fill'd with In- habitants, the Rents were not only well paid for them, but Fines frequently exacted ; and we were not then over-burthen'd with Poor, as we are now ; nor our Roads nor Streets infested with Highway- men and Robbers : If the Rents for the Lands were then likewise well paid, and raised too, as they cer- tainly were ; and if now the Gentlemen can hardly get any Rents for their Lands ; and all the contrary Marks and Signs are upon us : It must be plain that it is not the Plenty of the Produce, but too great a Scarcity of Money amongst the People, which hath reduced Trade to so languishing a Condition, that Tradesmen in general can't get Money to pay the usual Rents for the Houses, nor the Farmers for the Farms. And this squares exactly with what I said to illus- trate my fourth Principle, that if Money decreases amongst the People, they must be distress'd, unless either their Numbers be diminish'd, or the Prices of Things lower'd in such Proportion. And since these Marks and Signs are sufficient Proofs of too great 150 JACOB VANDERLINT a Scarcity of Money amongst the People in general, they must also be equal Proofs that the Cash amongst them in general is considerably diminished, at least that it is not increased in Proportion to 158 their Number, and the Prices of Things. || And hence we may see that whatever hurts Trade to any considerable Degree, will also hurt the Land- lords of Lands and Houses too, if there be any Truth in the Fact contain'd in the Objection I have now answer'd. And if what I have ofifer'd be, as I think it is, a sufficient Answer to the Objection, supposing the Fact to be true, it follows then that the Gentlemen if they would have any Rents for their Farms, are under a Necessity, as fast as possible, to cause so much waste Land to be inclosed and improved, as shall actually reduce the present Rates of Labour, and the Subsistence of the Farmers, so much, that the Price, the Produce of the Earth will fetch at Market, may be sufficient to bear all Charges, and leave an Overplus to pay such Rents as the Lands will then be found to bear. For whilst the necessary Charges of the Labour, &c. and the Subsistence of the Farmers continue so great, as to equal the Price the Produce of the Ground fetches at Market, it is impossible the Gentlemen should have any Rents paid them. The Objection suggests this to be the Case at present ; and I am sure that a Scarcity of the Produce will not mend the Matter, whatever they may think of such a Calamity. Now that the necessary Charges of the Labour, &c. and the Subsistence of the Farmers may be so much lower'd, as to leave an Overplus out of the Price the Produce of the Ground fetches at Market, sufficient to pay some Rent, is certain ; because, when the Produce of the Ground did hardly fetch MONEY ANSWERS ALL THINGS 151 ^ Part of its present Rates, some Rent was as cer- tainly paid, as that j| we always had Gentlemen in i $9 the Kingdom who liv'd on their Estates. And if, as I have before sufficiently made out, the lowering the Rates of Labour will make every Thing fall, in much greater Proportion than the Rents, it must be evident that an Overplus must, in this Case, remain to pay Rent ; and that the Gentlemen will be the richer too, for persuing such Measures, as shall be effectual to reduce the present Rates of Labour, &c. And now, I hope, it doth fully appear, that the Gentlemen have no Reason to fear improving so much waste Land as I am contending for, since perhaps they are not like to get any Rent any other way ; except that I must add, that the taking the Taxes intirely off Goods, would mightily help them in this Point, since it's pretty certain, the Taxes, and Charges of collecting them, together with the Advance on the Price of Goods they occasion, do now absorb near half the Rent of the Kingdom, as hath been before shewn. Nay, I do verily believe, that taking the Taxes intirely off the Things the working People consume, is so absolutely needful, that Labour can hardly be reduced without it. And that which makes me think so, is the pro- digious Augmentation of the Price of Goods by Taxes ; an undeniable Instance of which, the taking the Duty off Salt, and laying it on again hath pro- duced. For Salt, when the Duty was taken off, was cried about Street three Pounds for five Farthings ; and no sooner was the Duty laid on again, but the Price became to the Consumer (as it was before the Duty || was taken off) five Farthings for one Pound. ,60 So that the Duty on Salt hath trebled its Price to the Consumer. This Instance therefore makes me think it impossible to reduce the Rates of Things 152 JACOB VANDERLINT by Tillage, &c. alone, so much as to reduce the Rate of Labour, except taking the Taxes intirely off the Things the working People consume and use, be also brought in Aid. And I dare say this will be found so too, if ever it's tried. But there remains a Difficulty or two, which per- haps it may also be needful to remove, viz. First, That since a great many Estates in this Kingdom are mortgaged, if the Rents of Lands, by the Exe- cution of this Proposal, should be considerably lower'd, many such Estates will hardly be worth more than they are mortgaged for ; which may be a very great Hardship to abundance of People. I would therefore most humbly propose that, when- ever the Wisdom of Parliament shall think fit to make an Act to inclose, and improve so much com- mon and waste Land as shall be needful, and may be effectual to the Purposes this Essay sets forth ; (for I believe it can hardly be effected without such an Act of Parliament ;) I say, I would most humbly propose, that a Clause be added, that all Mortgagees shall be obliged annually, or in any other Manner that may seem meet, to strike off such Sums from the Principal Money lent on such Estates, as shall hold Proportion to the Fall of the Rents of Lands. This can be no Hardship to the Mortgagees, since the Residue of their Money and Interest will do, at least, all the same Things which their || whole Sums, with the Interest, would have done if no such Alter- ation were made, as the full and sufficient Execution of this Proposal will effect. The Mortgagees will be so far from being singular in this Case, that this is what must happen to every Tradesman, whose Stock in Hand being our Pro- duce, or Manufactures of any Kind, will be con- tinually falling, as fast as such Produce or Manu- MONEY ANSWERS ALL THINGS 153 factures shall from Time to Time, by the Plenty of them, be made cheaper. Nor will this be any Pre- judice to any Tradesman, since every Time they buy, in this Case, such Goods will be as much cheaper than when they bought last, as those Commodities have fallen on their Hands ; and the remaining Sums every way as powerful to buy what they may have Occasion for, as the whole Sums would have been if no such Alteration had happen'd, as this Proposal, if executed, will effect. As to foreign Commodities, their Prices depending on the Markets whence they are brought, will hardly be affected by this Proposal ; and as to Book Debts and Notes, the Credit of this Kind being never in- tended to be of any long Duration, I think no Alter- ation should be made, respecting them. But if this Proposal should be executed, a Hardship will fall on many who have Leases of Lands, unless a Clause be likewise made, to give such Tenants Leave to surrender their Leases to their Landlords ; but this must only be at the Option of such Tenants, because if they think fit to hold their Leases, the Covenants must be fulfilled, even as || if no Alteration were 162 made by the Execution of this Proposal. And if another Clause were made to this Purpose, that any Person being willing to inclose, and improve any reasonable and proper Quantity of waste Land, fit for one Person to undertake the Improvement of, wherever such waste or uninclosed Land is to be found,* such Person should have Power to do so, on Condition only of giving Notice in Writing to the Proprietors of such waste Land ; or, if such * Dr. John Lawrence, in his new System of Agriculture, Page 5, says, I can't but admire that the People of England should be so backward to enclose, which would be worth more to us than the Mines of the Indies to the King of Spain. 154 JACOB VANDERLINT waste Land belong to a Parish, to the Vestry, who should receive* such Rents as shall be agreed by two Persons indifferently chosen, one by the Propri- etors or Vestry, the other by the Incloser of such Lands : And if they can't agree, a third Person should be obliged to fix and determine the Rents for any proper Term : And it should be recom- mended by the same Act, that the Referees always have all due Regard to the Good of the Person inclosing and improving such waste Land, because the Riches, Strength, and Honour of a Nation de- pend on the utmost Improvements of their Lands, l6 3 all || other Things being only Consequences of this: I say, if such a Clause were further added, this whole Affair, and all the Benefits I have been representing, would thenceforth execute themselves, so long as we have any waste or unimprov'd Land left. And when we have no more, the People must remove themselves where they can have Land enough to support them ; or our Country will certainly become weak and miserable, by its being more numerous, than the Continent we have can support in an happy Condition. I shall conclude with offering something about the Execution of this Proposal. But shall premise, that since all Trade and Commerce is founded in the Wants of Mankind solely, and that these can be supplied only by Cultivation and Tillage, all other Things depending intirely thereon, it must *The Rent paid to such Parishes or Vestries, should be annually dis- tributed to those who had a Right of Commoning on such Lands as may, from Time to Time, be enclosed and improv'd ; and that in such Pro- portion as their several Rights may intitle them to ; unless the Parliament should think it more useful and beneficial to apply such Rents to the Relief of the Poor, in those and other Parishes that may stand in need of Assistance and Relief, or direct its Application any other fitter Way ; or unless those who have the Right of Commoning, will enclose and improve it in such Parts, as their several Rights may intitle them to. MONEY ANSWERS ALL THINGS 155 clearly appear to what Causes to attribute that Decay of Trade, of which such great Complaints have been made from all Parts of the Kingdom, even to the Parliament ; and that those have not rightly consider'd the Nature and Foundation of Trade, who have so vilely traduced as wise and good a Government as this Nation ever had, when they have insinuated, at least, that this Decay of Trade is owing in any Degree to their Conduct. For, I hope, I have shewn that a Decay of Trade will unavoidably arise from the Course of Things themselves, where such an Addition of Land is not annually cultivated, as shall at least hold Proportion to the natural Increase af Mankind ; and likewise that a Decay || of Trade is the necessary and un-i6 4 deniable Consequence of a Decrease of the Nation's Cash, since the Consumption of every Thing must lessen in such Degree, as the Cash circulating amongst the People lessens, if the Prices of Things in general be not reduced in like Proportion, by the Means I have shewn. For if every Thing bears the same Price, and the Number of Consumers is not lessen'd, it's plain, they having in this Case so much less Money amongst them, must purchase as much fewer Things, as the Want of so much Money will necessarily prevent them from buying ; and this will increase the Number of Poor, and make them miserable, according as the Degree of the Decrease of Cash cuts off more or less Business from amongst the People. The Consequences will be just the same, if the People increase, and Cash doth not increase amongst them in like Proportion. And further, I think it appears, that it is not Luxury which occasions a Decay of Trade ; but 156 JACOB VANDERLINT that such a Decay of Trade, as dispossesses many of that Property their Wants and natural Rights intitle them to, is that alone which possesses a com- parative Few with such Affluence, as both causes and supports their Luxury, and allures and draws in many into such luxurious Excesses, as are beyond their Abilities to support. Therefore, imputing the Decay of Trade to Luxury, must be a very great Error, since it puts the Effect for the Cause. And again, I believe our Paper-Effects have con- tributed as much to this Decay of Trade, as all the 165 rest put together, by inhancing the || Price of every Thing amongst us, above the Rates our real Specie would have supported them at, in such Proportion as the Paper-Effects amongst us are greater than the real Specie we have circulating ; for this is the natural and unavoidable Effect of any Thing oper- ating as Cash, which is not such. But to return : I would most humbly propose that, if possible, 100,000 Acres of Land be for some Years successively taken in, and inclosed, as near London as such a Quantity of Land is to be had, because the labouring People may, I believe, be more easily drawn from hence to cultivate it, than from any other Parts ; and because the Cities of London and Westminster will, I imagine, sooner feel the Effects in the Cheapness of Provision of all Kinds, which will soon put the Inhabitants into Cir- cumstances to occupy more Houses, and cause others to flow to them, and thereby fill the empty Houses ; for where the Trade is, the People will come. Again, I would most humbly submit it to the Consideration and Goodness of His most Gracious Majesty, whether his Majesty might not, by giving his Crown Lands in proper Parcels on quit Rents, MONEY ANSWERS ALL THINGS 157 or any proper Acknowledgments for a Term of Years, begin this good Work, and relieve the poor Artificers and Manufacturers, for whom His Majesty hath from the Throne most graciously expressed great Compassion.* || % i And if His most Gracious Majesty shall please to continue to add, for some Years, such a Quantity of Crown Lands, in several Parts of the Kingdom, to be cultivated on like easy Terms, there will be People enough that will accept and improve them. And if at the End of any proper Term, when such Possessors shall pay Rent for them, an Incourage- ment be given, by allowing such Parcels of Lands on easy Rents, for some further Term of Years, this Incouragement will be attended with the utmost Improvement of such Lands, and Wealth to every prudent and industrious Possessor of them, and will, in a few Years, be a very considerable Estate to the Crown, arising by these Rents ; and hereby, the dismal, and otherwise irremediable Calamity of many will be alleviated and relieved, Tears wip'd from many Eyes, and many broken Hearts heal'd, and Multitudes saved from Imprisonment, Trans- portation, and the Gallows ; besides preventing many from deserting the Kingdom, as they are now continually doing, to seek that Bread, which they can't find in their native Country, to support them with Comfort. Thus will His most Gracious Majesty become a Kind of Deity to his People, whilst he is thus imi- tating the Beneficence of our heavenly Father, whose Representative on Earth he will thus be, in the most exalted Sense. * I look with Compassion upon the Hardships of the poor Artificers and Manufacturers. See his Majesty's most Gracious Speech of January 13, 1729. 158 JACOB VANDERLINT I must, indeed, own myself a Stranger to the Quantity of Crown Lands, that are at present un- cultivated ; though I can't doubt that there are enough to set this useful, and, as I believe, absolutely 167 needful Proposal at Work ; which || will be found to be an inexpressible Benefit to all Ranks and Degrees of Men amongst us, if fully and sufficiently executed. But I must further note, that if so great a Part of the Kingdom as about 30000 square Miles, remain at present uncultivated, as I have supposed in this Essay, it will probably take more than one Century to put it all to Use; so that there will be Land enough to plant Timber on, beside what should be raised in the Hedges and Banks. For the making Timber plenty, is undoubtedly of as great Impor- tance to our Maritim Trade, and Naval Power, as the Cultivation and Tillage, I have been contending for, is to the Support and Happiness of the People ; beside the further Usefulness of such Plenty of Tim- ber for Building, and making our Iron, tanning of Leather, and many other Uses and Purposes, for which it will become absolutely necessary, if ever this Proposal should be executed. But perhaps it may be thought, such an Addition of Land every Year may reduce the Rents of Lands too much. In answer to which I shall only say that, when the Necessaries of Life are reduced so low that we can work as cheap as the Nations round about us, and that the Wages of a working Man will purchase enough to support such a Family, as the Estimate is made for, in the Station of a labour- ing Man's Family ; as none of them can then want Work, which I think I have proved by shewing how great the Wants of the People are ; so the Rent the Lands will then bear, is really that proper and fit annual Rent, which || will be found best for all 168 Ranks and Stations of Men. MONEY ANSWERS ALL THINGS 159 But if Things must not be put on so good a Foot, I cannot help thinking, that it would be much happier for the People, that they were in a State of Nature, where all Men being born equal, have a natural Right to any Quantity of Land they think fit to use, and to put it to what Use they please, provided it be not occupied by any other : For whoever occupies any Land in this Case, is the rightful Possessor and Proprietor, so long as he continues to occupy and use it. For though I don't think a State of Nature to compare with the State of Civil Government, if the Plenty be made great enough to support the People comfortably, yet if the Bulk of Mankind be made miserable by the Oppression of the rest ; as they undoubtedly are, when the Wages of the Labourer, and Price of Necessaries for such a Family as he must often sustain, and which indeed he was chiefly sent into this World to raise, are not very near equal : I say, such an unhappy State of Man- kind is, in my Opinion, worse than a State of Nature itself. For as Men form themselves into Societies or Governments, to make themselves more happy than they would be in a State of Nature, it is but just, that as they, for that End, give up their natural Right to the Land, which by this Principle, that all Men by Nature are born equal, they have an in- defeasable Right to take and possess, wherever it lies unoccupied by any other ; I say, it is but just, so much Land be continually added and improv'd amongst || them, that every Thing thereby be ren- 169 der'd so plentiful, and consequently so cheap, that the Wages of the labouring Men, and Price of Nec- essaries become so equal, that they may all com- fortably support such a Family, as they were sent into this World to raise, and therefore ought to 160 JACOB VANDERLINT support, unless through Sickness or Weakness such an one becomes unable to labour for them ; and then his and his Family's Support becomes a just Debt on the Publick, so long as they really stand in need of it. And, I further say, if so much Land were con- tinually added, and so well improv'd as to keep these Points (viz. the Wages of the labouring Man, and Price of Necessaries for the Support of a Family) together, Trade could never stand in need of any other Care or Concern of any Government, let the Subjects carry it on in whatever Way or Manner they possibly could*. For if the Trade were so gainful, as to increase the Cash amongst the People, in greater Proportion than the People increase, the Prices of Things would only become higher in such Proportion. And if the Cash decreased (which, by the way, I believe would be impossible) as then more of the People must fall into Tillage, &c. from a Want of Business, which is the necessary Consequence of a much greater Importation of Foreign, than Ex- i 70 portation of our own Commodities ; so || employing the People this Way, would bring down the Prices of Things to the Cash amongst them (i. e. to their proper Value), and would soon, by making their Produce and Goods so much cheaper, enable them to export more of their own, and import less foreign Goods, and thereby recover their foreign and mari- time Trade. Thus the Flux and Reflux of Trade, which we hence see is all govern'd by Money, or, in other * This is the sole Rule concerning Trade, to which any Government should ever attend, and which, if sufficiently attended to, will always render them as powerful, and their People as happy, as the Nature of Things is capable of; and is therefore infinitely preferable to any Encour- agements or Restraints in favour of Trade, which ultimately will always terminate in Mischief to Trade. MONEY ANSWERS ALL THINGS 161 Words, by the Prices Goods of all Kinds bear in each Nation, with respect to the Prices of the same Kinds of Goods in each other Nation, would infallibly furnish as much Employment and Happiness, as the State of Mankind is capable of. And thus would Government answer up to the Felicity, Mankind wisely sought by uniting themselves into such Bodies and Societies. Nor could this possibly fail of making Mankind thus happy, unless the Defect be in the Constitution of the World it self to answer the End. And I think none, that have any just Sentiments of the Perfections of the Deity, will ever suppose that. O happy Time ! when shall it once be, that Princes and great Men of the World will let Mankind thus naturally employ, and make themselves happy ! And by thus suffering them to support themselves, remove much of the Misery of the World, and together introduce Knowledge, and Prudence, and Virtue in much larger Degrees than at present ! For Ignorance and Vice are almost inseparably con- nected with Poverty and Want. The Destruction of the Poor is their Poverty. FINIS. NOTES 1 (page 14) Baker, Geoffrey-Le (d. 1358-60). Chronicon Galfridi le Baker de Swynebroke [1303-56], ed. E. M. Thompson. Oxford, 1889. Another edition, J. A. Giles. Caxton Soc. London, 1847. 2 (page 23) "A Conference with a Theist," in five parts, 8vo, 1696 (3rd edit., enlarged to 2 vols, in 1723). For details of Nicholls's life as author and divine, see Dictionary of National Biography, tub nom. 3 (P a S e 35) "Another Essay in Political Arithmetick, concerning the Growth of the City of London," 1683, p. 15 ; reprinted in " Economic Writings of Sir William Petty" (ed. Hull), p. 463. Vanderlint's ac- quaintance with " Sir William Pettis's " opinions were probably derived, as intimated in the text, entirely from William Nicholls's " Conference with a Theist." * (page 39) August 20, 1714. 5 (page 41) October 19, 1711. 8 (page 42) " Physico-Theology : or, A Demonstration of the Being and Attributes of God, from His Works of Creation. Being the substance of sixteen sermons preached in St. Mary-le-Bow-Church, London, at the Honourable Mr. Boyle's lectures, in the years 1711, and 1712. With large notes, and many curious observations." Eighth edition. London, 1732. For the passage in question, see p. 176, note i. 7 (page 44) " New System of Agriculture, being a Complete Body of Husbandry and Gardening," 1726. The author, John Laurence (not Lawrence, as p. 90, below), himself a clergyman, is best known for hi* " Clergyman's Recreation, shewing the Pleasure and Profit of the Art of Gardening," 1714 which reached a fourth edition in 1716 (Dictionary of National Biography, tub nom.). 8 (page 45) "A Treatise of Taxes and Contributions," 1662, p. 59 (Hull, p. 78); "The Political Anatomy of Ireland," 1691, p. 25 (Hull, p. 154); letter of Petty to Southwell, August 20, 1681 (Hull, p. 467). ' (page 48) "The State of the Nation, in Respect to her Commerce Debts and Money." London, 1725. The author's name did not appear on the title-page, but was appended to the dedication "To the King." Modern interest in the tract, which was reprinted in 1726, in 1731 and in 1751, grows largely out of McCulloch's opinion that it contains at least one passage " not surpassed by anything in Smith or Ricardo " (" Litera- ture of Political Economy," p. 351). 164 NOTES 10 (page 63) " State of Woolen Manufactures Considered." By Ben- jamin Ward, Yarmouth. Printed by R. Ford. 1731. 27 J pp. 8vo. The author is not mentioned by McCulloch, Palgrave or the Dictionary of National Biography, but the tract is included in Massie's " Catalogue of Commercial Tracts," (No. 2801). 11 (page 90) "Abridgement of the Royal Society's Transactions, from 1700 to 1720." 3 vols. 410. London, 1721. Originally a printer, Motte developed into bookseller and publisher, and as such brought out " Gull- iver's Travels," and other of Swift's writings (Dictionary of National Biography, sub nom.) . 12 (page 96) [Daniel Defoe], "A Plan of the English Commerce. Being a Compleat Prospect of the Trade of this Nation, as well the Home Trade as the Foreign." London, 1728. McCulloch notes that, "What is called the second edition is merely the first edition with a new title-page and a brief appendix" (" Literature of Political Economy," p. 45). 18 (page 118) See p. 126 note, below. 14 (page 130) May u, 1713. 16 (page 142) See note 8, above. DATE DUE A A 000058795 6