appointed their Diets to be made up of such Provisions as were very
wholesome, afforded good nourishment, and were not costly in Price,
_viz._ Beef, Pease, Potatoes, Broath, Pease-porridge, Milk-porridge,
Bread and Cheese, good Bear, (such as we drank at our own Tables)
Cabage, Carrots, Turnips, &c. in which we took the Advice of our
Physician, and bought the best of every sort. They had three Meals
every day, and as I remember, it stood us (with Soap to wash) in
about Sixteen pence _per_ Week for each of the One hundred Girls. We
soon found the effect of their Change of Living, Nature being well
supported, threw out a great deal of foulness, so that we had
generally Twenty down at a time, in the Measels, Small-pox, and other
Distempers; but by the Care of our Physician, and the Blessing of God
on his Endeavours, we never Buried but Two, though we have had seldom
less than One hundred in the House at any time.
Having thus provided for their Dyets, we next appointed their times
of Working; which in the Summer was Ten Hours and a half every Day,
and an hour less in the Winter; by which means we answered the two
Objections raised against the Poor, (_viz._) That they will not Work,
and that they spend what they get in fine feeding.
But we soon found, that the great cause of begging did proceed from
the low Wages for Labour; for after about Eight Months time, our
Children could not get half so much as we expended in their
Provisions. The Manufacturers, who Employed us, were always
complaining the Yarn was spun course, but would not advance above
Eight pence _per_ Pound for Spinning, and we must either take this,
or have no Work. On the other side, we were labouring to understand
how we might distinguish, and put a Value on our Work, according to
its Fineness. This we did by the Snap Reel, which when we were
Masters of, the Committee made an Order, That the Master should buy
in a Stock of Wool, and Spin it up for our own Accounts, and then
proceeded to set the Price of Spinning by the Snap Reel, wherein we
endeavoured to discourage Course Work, and to Encourage Fine, because
we saw the latter was likely to bring more Profit, not only to the
Poor, but to the Kingdom in general. We likewise ordered some things
to be made up of the several sorts of Yarn, at the Rates we had set
them; and on the whole, we found the Commodities made of fine Yarn,
though they were much better than those made of Course, yet stood us
in little more; because what the one exceeded in the charge of
Spinning, was very much made good in abatement of the Quantity used.
We therefore sent to the Manufacturers, and shewed them what
Experiments we had made; but finding them still unwilling to advance
above the old Rate, the Committee Voted that they would give
Employment to all the Poor of the City, who would make application to
them, at the Rates we offered to work, and pay them ready Money for
their Labour.
We soon found we had taken the right Course, for in a few Weeks we
had Sale for our Fine Yarn as fast as we could make it, and they gave
us from Eight pence to Two Shillings _per_ Pound for Spinning the
same Goods, for which a little before they paid but Eight pence, and
were very well pleased with it, because they were now able to
distinguish between the Fine and the Course Yarn, and to apply each
sort to the use for which it was most proper: Since which, they have
given us Two Shillings and Six Pence _per_ Pound for a great many
Pounds, and we Spin some worth Three Shillings and Six Pence _per_
Pound Spinning.
By this means we had the pleasure of seeing the Children’s Labour
advanced, which a little before I came up, amounted to near Six
Pounds _per_ Week, and would have been much more, but that our
biggest Girls, we either settle forth, or put in the Kitchen; and
those we receive in being generally small, are able to do but little
for some time after.
The encouragement we had received on this beginning, put us on
proceeding further: The Court resolved to purchase a great
Sugar-House, out of the Money directed by the Act to be raised for
Building of Work-Houses, and fit it up for the receiving in the
remainder of the Poor, (_viz._) ancient People, Boys, and young
Children; which was accordingly done, and a Committee was appointed
to manage it. This we called the _Mint Work-House_, because it had
been hired by the Lords of the Treasury for that Use.
The Committee began to take in the Boys in _August_ last; these we
Cloathed, Dyeted, and Governed, much after the same manner as we had
done the Girls, but put them on a different Employment, (_viz._)
Spinning of Cotton Wool, and Weaving of Fustians: We have now about
One Hundred of them together, who settle well to their Work, and
every Day mend their Hands; they get us already Six Pounds _per_
Week; they are likewise taught to Read, and we shall hereafter teach
them to Write.
We next took in our ancient People; and here we had principally a
regard to such as were impotent, and had no Friends to help them, and
to such as we could not keep from the lazy Trade of Begging; these we
Cloathed as we saw they needed, and put on such Employments as were
fit for their Ages and Strengths, having our Eyes chiefly on those to
which they were bred; we found it difficult at first to bend them
down to good Orders, but by degrees we have brought them under
Government.
Then we called in all the Children that were on our Poor’s Books,
and put them under Nurses; those who can speak and go, are carried
down into the School, to learn their A, B, C, &c. As they grow up, we
shall put them into the Working Rooms.
The Boys are kept at a distance from the ancient People, who do also
lodge in distinct Apartments, the Men in several Chambers on one
Floor, and the Women on another; all do something, though perhaps
some of their Labours comes to little, yet it keeps them from
Idleness: Both the Old and Young attend Prayers twice a day, (except
the Bedridden, for whom other Care is taken) and go to Church twice
on _Sun days_.
We have now three standing Committees, (_viz._) For the Poor, for the
New Work-house, and for the Mint Work-house: The first gives all
Directions, and makes all Allowances, for the Poor, without whose
Order no Guardian can act any thing considerable, except in Cases of
absolute Necessity, which at the next Meeting of the Committee he
must give an Account of, and desire their Approbation. The other two
Committees have Power to Act in the Affairs of that Work-House for
which they are chosen: They receive in both Old and Young; they bind
forth Apprentices, Correct, order the Dyet as they please, oversee
the Working, Sell the Manufactures when made, order the Payment of
all Moneys, which cannot be done unless the Note be sign’d by the
Chair-man; and generally direct every thing relating to those Houses.
The Accounts are made up thus: The Treasurers Account is audited
every Year, by a Committee chosen for that purpose; at which time he
is succeeded by another Treasurer, chosen by the Court: The Accounts
of the Guardians who pay the Poor in their several Parishes are
audited every Three Months, by a select Committee chosen likewise by
the Court, and are then paid by the Treasurer: The Accounts for each
Workhouse are audited by the respective Committee every Month, when
the Master adjusts, not only his Account of Cash, but also of each
particular _Specie_ of Goods he hath under his Care, the Ballance
whereof is still carried forward to the next, which when allowed of
is signed by the Chairman: And the Account for each House is so
stated, that it shews at one sight, what the House is indebted; what
Debts are outstanding, and from whom; what Goods remain in the House,
and the Quantity of each _Specie_.
At the making up these Accounts nothing (unless very trivial) is
allowed, for which an Order is not produced, or found entered in our
Books, so that ’tis very difficult to wrong the Corporation of any
thing, if the Guardians should endeavour it.
These Committees keep their Journal Books, wherein all they do is
fairly transcribed, and signed by the Chairman.
This is what at present occurs to my Memory touching our Work-Houses
at _Bristol_; I have been as brief as the nature of the thing would
admit: The Success hath answered our Expectation; we are freed from
Beggars, our old People are comfortably provided for; our Boys and
Girls are educated to Sobriety, and brought to delight in Labour; our
young Children are well lookt after, and not spoiled by the neglect
of ill Nurses; and the Face of our City is so changed already, that
we have great reason to hope these young Plants will produce a
vertuous and laborious Generation, with whom Immortality and
Prophaness may find little Incouragement; nor does our hopes appear
to be groundless, for among Three Hundred Persons now under our
Charge within Doors, there is neither Cursing nor Swearing, nor
prophane Language, to be heard, though many of them were bred up in
all manner of Vices, which neither _Bridewell_ nor Whippings could
fright them from, because, returning to their bad Company for want of
Employment, they were rather made worse then bettered by those
Corrections; whereas the Change we have wrought on them is by fair
means. We have a _Bridewell_, _Stocks_, and _Whipping-Post_, always
in their sights, but never had occasion to make use of either.
What is done in that City, I humbly hope may be carried on by the
same steps throughout the Kingdom; The Poor may be set at Work, their
Wages advanced without danger to our Manufactures, and they thereby
enabled to live on their own Labours, whereby the Charge of the
Poor’s Rates may be saved, and a great many worthy Benefactors
encouraged to give, when they shall see their Charity so well
disposed of. This I have great reason to hope, because we have had
near One Thousand Pounds freely given to us within the compass of one
Year, and much thereof by Gentlemen who dwelt at a Distance from us,
only were willing to Encourage a Work they saw likely to be carried
on, which might be of good Example to the Nation.
I am,
Right Honourable
and Honourable,
Your Honours most
Obedient Servant
JOHN CARY.
AN
ESSAY
Towards Setling a
NATIONAL CREDIT.
First Published in the Year, MDCXCVI.
To the Right Honourable the LORDS Spiritual and Temporal, and to the
Honourable the Commons of ENGLAND in Parliament Assembled.
HAVING lately presented your Honours with _An Essay on Coin and
Credit_, the chief Design whereof was to shew the Necessity of
Setling a well-grounded Credit in this Nation, for Support of the
Government, and carrying on its Trade; I do now with all Humility lay
before you Proposals to answer that end, which I have not clogg’d
with Compulsion to the Subject, supposing nothing of this Nature can
be good, where a Common Consent, grounded upon Interest, doth not
make it valuable.
Banks, as I humbly conceive, ought chiefly to be Calculated for the
Use of Trade, and modeled so as may best content the Traders. What
gives them Satisfaction, will answer all other Occasions of the
Kingdom. Money passes through the Hands of the Nobility and Gentry,
only as Water doth through Conduit-Pipes into the Cistern, but
Centers in the Hands of Traders, where it Circulates, and may be said
to be used; and among these, Ease, Profit, and Security, are
Arguments strong enough to keep a Bank always full; Besides, when the
Streights of the Government are taken off, greater Sums will come
into Trade, which are now drawn out, in order to make Advantages,
above what the Profits of Trade will bring in.
The Heads whereon I propose to build this National Credit, are these
which follow:
That a Bank be Erected on the Credit of the Parliament, the Profit or
Loss thereof to redound to the Nation, whose chief Chamber shall be
setled in _London_, but lesser Chambers in other Places of this
Kingdom, at such Distances, as may best Answer the Occasions of the
Country; which Chambers to account with that of _London_, and that to
Commissioners appointed by Parliament.
That this Bank shall take in what running Cash shall be offered, and
shall give their Notes for it; and shall also allow Interest after
the Rate of ### _per Cent. per Annum_, after the first ### days, till
those Notes be paid, and shall also pay it again to the Proprietors,
or any part thereof, when demanded.
That if any Man puts in his Money for a time certain, not less then
### Months, he shall receive Interest from the time of paying it in,
to the time he is repaid.
That this Bank shall let out any Sum again on reasonable Security,
either Real, Personal, or Goods, receiving Interest after the Rate of
### _per Cent. per Annum_, till the Borrower shall think fit to pay
it in, which he shall do, by such Parts as will best suit his
Occasions, and be discharged from the Interest of what he so pays,
and only pay after the Rate aforesaid, for so much as doth remain in
his hands.
That Lombards be Erected to attend this Bank, for the Benefit of
Traders, under Regulations, which may encourage Trade.
That for the Benefit of Returns, the Notes given in any one Chamber
of this Bank, shall be demandable in any other, together with the
Interest due till payment, the Receiver allowing for such Returns
after the Rate of ### for each Hundred pounds, in the Chamber where
he receives his Money.
That to prevent Counterfeits, all Notes given out at any Chamber,
shall be made payable to ### or Order, and Assigned from one to
another, each Assigner to be Warrantee for the Note, both to the
Bank, and also to every later Assignee.
That these Notes shall be taken by the King in all Payments, which
will make them currant among the Subjects.
That this Bank do supply the King with all Loans at ### _per Cent._
Interest _per Ann._ from the time of borrowing to the time the Money
is paid in again, and that it hath the Taxes, or Funds settled by Act
of Parliament, for its Security.
That all Debts Contracted to this Bank, shall be of the same Nature
with Debts Contracted to the King, and be first paid out of the
Estates of the Debtors; and that Extents shall lye accordingly.
That an Account be kept of Profit and Loss in each Chamber, together
with the Charges of the Officers, &c. And that it be return’d up
every Three Months, as also Account Current, to the Grand Chamber in
_London_, where the whole shall be Examined by the Commissioners, and
they be liable to the inspection of the Parliament.
That Registers for Lands be erected in all Counties, &c. where
desired, by Act of Parliament.
That Bills be past on the Bank by such as are appointed to buy for
the Publick Use of the Nation, payable at the time of their
Agreement; by which means every one will endeavour to Furnish the
Government Cheapest, when their payments shall be punctual; the King
will save a great deal of Moneys, paid now for Procuration, Excessive
Interest, &c. and the Fleet and Army will be well paid.
That the Commissioners do once every Year at least, make up the
Accounts depending between the Publick and the Bank, allowing ###
_per Cent._ Interest as before; and make application to the
Parliament for its Reimbursement.
That Bills and Bonds be made Assignable by Law, and the Property be
thereby transfer’d to the Assigne.
That Trustees may put the Money belonging to _Orphans_ into this
Bank, which shall be a discharge to them for so much of their Trust,
the Interest to be duly issued out for the maintenance of the said
_Orphans_; and that all Plate and Bullion belonging to the said
_Orphans_ be by the Trustees Coined up at the next Mint, and the
Money put into the Bank for the use of the said _Orphans_.
That the Money in this Bank be freed from Taxes.
Concerning which Credit I shall briefly speak to these Four Things.
I. First, _Its Security_.
II. Secondly, _Some of those Advantages the Nation will reap by it_.
III. Thirdly, _I shall make some Comparison between this Credit, and
the present Bank of_ England.
IV. Fourthly, _I shall set forth the necessity of setling the Nations
Credit in this present Sessions_.
I. As to the _First_, It hath the Legislative Power of the Kingdom of
_England_ for its Foundation, a Security strong enough, and nothing
else can be so, to build this Great Superstructure upon, the well
Modeling whereof, will keep it from being subject to the Designs of
Private Persons; This will last so long as the Peoples Liberties
last, for no Change can weaken it, so long as the People of _England_
have a hand in making their own Laws, whose Common Interest will be
so Riveted and Made up with the Security of this Bank, that they will
in a short time become one thing, so that nothing less than a
Conquest will be able to shake it; This we cannot fear from any
Nation besides the _French_, nor from them neither, till _Holland_ is
first subdued; therefore, as those States must first truckle, so far
will our Bank be more secure than theirs; _France_ cannot Erect a
Bank on any sort of Security, because, the Will of that Prince being
his Law, alters according to his present Occasions; Nor can _Spain_
do it; where, not only the Government, but also the Profits thereof,
are divided amongst its Ministers; As for _Sweden_, _Denmark_ and
_Portugal_, the Princes of _Italy_ and _Germany_, few believe their
Circumstances to be such, as to Render them capable of Erecting a
Bank, which may draw the Eyes of _Europe_ to look towards it;
_England_ only can do it, for as an easie Government is its own
Security, so that Security encourages Trade, and these two,
accompanied with the Profits offered to a Running Cash, will make all
_Europe_ desire to settle their Moneys here.
Seeing then, that nothing but the same Power which first Constituted
this Bank can destroy it, (a Power with whom we Intrust our Lives,
Liberties, and Estates) I cannot see the least Room left for
distrust; for what Advantage can any future Parliament expect by a
design of seizing this Bank, when the Treasure thereof may be drawn
out, whilst they are framing the Law; and the Consequence will be,
the Ruining their own Estates, for which they can promise nothing to
themselves, save the being possest of Empty Papers.
What farther Hazard the Nation can run, must proceed from the Neglect
of the Managers, or the Fraud of under Officers, which, Care in the
First, and Security for the Last, will prevent.
II. The next Thing is to shew the Advantages which _England_ will
reap by Setling the Credit here proposed; whereof some do Immediately
attend it, others are Consequential.
Those which Immediately attend it, are,
1st, The Rate of Interest will hereby be brought lower, to the
Advance of our Lands, and Encouragement of our Trade, by Methods
altogether as Profitable to the Usurer, who will be willing to let
his Money Cheaper, when it shall never lye dead without his Consent,
his Security be unquestionable, and freed from the Charges of
litigious Suits, which so frequently accompany doubtfull Mortgages.
2dly, Both Gentlemen and Traders will hereby be supplied with Money
to serve their Occasions, on such reasonable Security as they are
able to give, when that Security shall be strengthned, by having the
Preheminence above all other Obligations; They may also have liberty
to pay it in by such Proportions, as they can best spare it, when it
shall be equally the Interest of the Bank to receive it so, which
will never want new opportunities to let it out again.
3dly, This Credit will give us an Esteem in Foreign Parts, Draw their
Moneys hither, and consequently their Trade, and thereby their
People, all which will be an Advantage to _England_.
4ly, It will supply the Government with Money to carry on the War on
Moderate Interest, and make its Credit good; whereby the Publick
Revenues will Reach farther to serve its Occasions, and the Ministers
of State be freed from many anxious Thoughts, which now make them
Uneasie.
5ly, It will make Returns from place to place in _England_ both Cheap
and Certain, which will help our Inland Trade, and prevent Robberies,
now too much encouraged by travelling with Money; It will also be
profitable to our Foreign Trade, by bringing Exchanges low in our
favour.
6ly, The Frauds put on the Country by Counterfeit Notes will be
prevented; for though the method of Indentures and Stained Paper now
used by the Bank of _England_, may be a Security to it self, yet it
is not so to any one else, seeing Art is able to Counterfeit every
thing, at least so like, as not to be easily discover’d: Now, what
Satisfaction will it be to those who have received their Notes
instead of Money, to be told by the Managers that they are
Counterfeit, when they know not where, nor from whom to get
Reparation; whereas being Assigned from Man to Man, they are taken on
the Credit of the Assignor, who runs no other risque thereby, save
his Warrant that they are truly what he pays them for.
7ly, This Bank will be free from Stock-Jobbing, the Bane of all good
Designs, which will find no room here, because it cannot be divided
into private and particular Interests.
The Consequential Advantages will be these,
1st, By this means the Taxes for carrying on the War the ensuing
Year, together with the Twenty five hundred and Sixty four Thousand
Pounds, which fell short on the Salt Fund, may be raised, by Methods,
wherein the Kings Revenue, and the Peoples Profits, shall go hand in
hand, without Anticipations.
2ly, The Funds now setled on our Manufactures, which discourage our
Trade, and Ruin our Poor, may be sunk and taken off; such as those on
the _Glass-makers_, _Tobaccopip-makers_, _Distillers_, and others,
many whereof have yielded little to the Government, above the Charge
of Collecting, and the best of them have done great mischief to our
Trade; Now seeing these are only so many several Modus’s of raising
Money, those methods must doubtless do Best, which least Injure our
Trade.
3ly, The Debt due to the Transport-Ships may be paid off, and those
People, to whose Early Loyalty the Reduction of _Ireland_ is very
much owing, be Contented.
4ly, The Mints may be kept Imployed, and the Kingdom thereby filled
with Coin.
5ly, Our Wooll may be kept at home, which I humbly conceive can never
be done, till a good Credit be settled, any thing less will not be
large enough to cover the Sore Intended to be Cured.
6ly, The Plantation Trade may be better secured, especially that of
Tobacco, and Methods may be proposed to Render it more Profitable,
both to the King, and also to the Subject.
7ly, The Bank of _England_’s Notes may be brought to Par, and
Tallies of all sorts in a short time be paid off at their full Value,
which I humbly conceive will be difficult to be done, any other way,
the settling a Credit on either, or grafting them both together, seem
improbable Methods to answer those ends.
I humbly hope to make Proposals in this present Sessions for putting
these into Practise, if a good Credit be timely setled.
Besides these, many other Advantages will accrue to the Nation, many
of which I have set forth in my before Recited Essay on Coin and
Credit. Pag. 27, 28, 29.
III. The Third thing is to make some Comparison between the Credit
here proposed, and the present Bank of _England_; which I humbly
conceive is so shaken in its Reputation, as hath rendred it uncapable
to be made the Foundation of a National Credit; and whilst we labour
to recover it, we may run the hazard of destroying our Trade,
disturbing the Government, and keeping our selves under a lingring
War, whilst we Encourage the _French_ King, to try his Utmost
Efforts, hoping, that our Difficulties at home, will force us to
accept of a dishonourable Peace.