The History of England, from the Accession of James II Volume IV Part 40

[Footnote 512: Stat. 5 & 6 W. & M. c. 22.; Narcissus Luttrell's Diary.]

[Footnote 513: Stat. 5 W. & M. c. 7.; Evelyn's Diary, Oct. 5, Nov. 22.

1694; A Poem on Squire Neale's Projects; Malcolm's History of London.

Neale's functions are described in several editions of Chamberlayne's State of England. His name frequently appears in the London Gazette, as, for example, on July 28. 1684.]

[Footnote 514: See, for example, the Mystery of the Newfas.h.i.+oned Goldsmiths or Brokers, 1676; Is not the Hand of Joab in all this? 1676; and an answer published in the same year. See also England's Glory in the great Improvement by Banking and Trade, 1694.]

[Footnote 515: See the Life of Dudley North, by his brother Roger.]

[Footnote 516: See a pamphlet ent.i.tled Corporation Credit; or a Bank of Credit, made Current by Common Consent in London, more Useful and Safe than Money.]

[Footnote 517: A proposal by Dr. Hugh Chamberlayne, in Ess.e.x Street, for a Bank, of Secure Current Credit to be founded upon Land, in order to the General Good of Landed Men, to the great Increase in the Value of Land, and the no less Benefit of Trade and Commerce, 1695; Proposals for the supplying their Majesties with Money on Easy Terms, exempting the n.o.bility, Gentry, &c., from Taxes enlarging their Yearly Estates, and enriching all the Subjects of the Kingdom by a National Land Bank; by John Briscoe. "O fortunatos nimium bona si sua norint Anglicanos."

Third Edition, 1696. Briscoe seems to have been as much versed in Latin literature as in political economy.]

[Footnote 518: In confirmation of what is said in the text, I extract a single paragraph from Briscoe's proposals. "Admit a gentleman hath barely 100L. per annum estate to live on, and hath a wife and four children to provide for; this person, supposing no taxes were upon his estates must be a great husband to be able to keep his charge, but cannot think of laying up anything to place out his children in the world; but according to this proposed method he may give his children 500l. a piece and have 90l. per annum left for himself and his wife to live upon, the which he may also leave to such of his children as he pleases after his and his wife's decease. For first having settled his estate of 100l. per annum, as in proposals 1. 3., he may have bills of credit for 2000L. for his own proper use, for 10s per cent. per annum as in proposal 22., which is but 10L. per annum for the 2000L., which being deducted out of his estate of 100L. per annum, there remains 90L. per annum clear to himself." It ought to be observed that this nonsense reached a third edition.]

[Footnote 519: See Chamberlayne's Proposal, his Positions supported by the Reasons explaining the Office of Land Credit, and his Bank Dialogue.

See also an excellent little tract on the other side ent.i.tled "A Bank Dialogue between Dr. H. C. and a Country Gentleman, 1696," and "Some Remarks upon a nameless and scurrilous Libel ent.i.tled a Bank Dialogue between Dr. H. C. and a Country Gentleman, in a Letter to a Person of Quality."]

[Footnote 520: Commons' Journals Dec. 7. 1693. I am afraid that I may be suspected of exaggerating the absurdity of this scheme. I therefore transcribe the most important part of the pet.i.tion. "In consideration of the freeholders bringing their lands into this bank, for a fund of current credit, to be established by Act of Parliament, it is now proposed that, for every 150L per annum, secured for 150 years, for but one hundred yearly payments of 100L per annum, free from all manner of taxes and deductions whatsoever, every such freeholder shall receive 4000L in the said current credit, and shall have 2000L more put into the fishery stock for his proper benefit; and there may be further 2000L reserved at the Parliament's disposal towards the carrying on this present war..... The free holder is never to quit the possession of his said estate unless the yearly rent happens to be in arrear."]

[Footnote 521: Commons' Journals, Feb. 5. 1693/4.]

[Footnote 522: Account of the Intended Bank of England, 1694.]

[Footnote 523: See the Lords' Journals of April 23, 24, 25. 1694, and the letter of L'Hermitage to the States General dated April 24/May 4]

[Footnote 524: Narcissus Luttrell's. Diary, June 1694.]

[Footnote 525: Heath's Account of the Wors.h.i.+pful Company of Grocers; Francis's History of the Bank of England.]

[Footnote 526: Spectator, No. 3.]

[Footnote 527: Proceedings of the Wednesday Club in Friday Street.]

[Footnote 528: Lords' Journals, April 25. 1694; London Gazette, May 7.

1694.]

[Footnote 529: Life of James ii. 520.; Floyd's (Lloyd's) Account in the Nairne Papers, under the date of May 1. 1694; London Gazette, April 26.

30. 1694.]

[Footnote 530: London Gazette, May 3. 1694.]

[Footnote 531: London Gazette, April 30. May 7. 1694; Shrewsbury to William, May 11/21; William to Shrewsbury, May 22? June 1; L'Hermitage, April 27/Nay 7]

[Footnote 532: L'Hermitage, May 15/25. After mentioning the various reports, he says, "De tous ces divers projets qu'on s'imagine aucun n'est venu a la cognoissance du public." This is important; for it has often been said, in excuse for Marlborough, that he communicated to the Court of Saint Germains only what was the talk of all the coffeehouses, and must have been known without his instrumentality.]

[Footnote 533: London Gazette, June 14. 18. 1694; Paris Gazette June 16/July 3; Burchett; Journal of Lord Caermarthen; Baden, June 15/25; L'Hermitage, June 15/25. 19/29]

[Footnote 534: Shrewsbury to William, June 15/25. 1694. William to Shrewsbury, July 1; Shrewsbury to William, June 22/July 2]

[Footnote 535: This account of Russell's expedition to the Mediterranean I have taken chiefly from Burchett.]

[Footnote 536: Letter to Trenchard, 1694.]

[Footnote 537: Burnet, ii. 141, 142.; and Onslow's note; Kingston's True History, 1697.]

[Footnote 538: See the Life of James, ii. 524.,]

[Footnote 539: Kingston; Burnet, ii. 142.]

[Footnote 540: Kingston. For the fact that a bribe was given to Taaffe, Kingston cites the evidence taken on oath by the Lords.]

[Footnote 541: Narcissus Luttrell's Diary, Oct. 6. 1694.]

[Footnote 542: As to Dyer's newsletter, see Narcissus Luttrell's Diary for June and August 1693, and September 1694.]

[Footnote 543: The Whig narrative is Kingston's; the Jacobite narrative, by an anonymous author, has lately been printed by the Chetham Society.

See also a Letter out of Lancas.h.i.+re to a Friend in London, giving some Account of the late Trials, 1694.]

[Footnote 544: Birch's Life of Tillotson; the Funeral Sermon preached by Burnet; William to Heinsius, Nov 23/Dec 3 1694.]

[Footnote 545: See the Journals of the two Houses. The only account that we have of the debates is in the letters of L'Hermitage.]

[Footnote 546: Commons' Journals, Feb. 20. 1693/4 As this bill never reached the Lords, it is not to be found among their archives. I have therefore no means of discovering whether it differed in any respect from the bill of the preceding year.]

[Footnote 547: The history of this bill may be read in the Journals of the Houses. The contest, not a very vehement one, lasted till the 20th of April.]

[Footnote 548: "The Commons," says Narcissus Luttrell, "gave a great hum." "Le murmure qui est la marque d'applaudiss.e.m.e.nt fut si grand qu'on pent dire qu'il estoit universel. "--L'Hermitage, Dec. 25/Jan. 4.]

[Footnote 549: L'Hermitage says this in his despatch of Nov. 20/30.]

[Footnote 550: Burnet, ii. 137.; Van Citters, Dec 25/Jan 4.]

[Footnote 551: Burnet, ii. 136. 138.; Narcissus Luttrell's Dairy; Van Citters, Dec 28/Jan 7 1694/5; L'Hermitage, Dec 25/Jan 4, Dec 28/Jan 7 Jan. 1/11; Vernon to Lord Lexington, Dec. 21. 25. 28., Jan. 1.; Tenison's Funeral Sermon.]

[Footnote 552: Evelyn's Dairy; Narcissus Luttrell's Diary; Commons'

Journals, Dec. 28. 1694; Shrewsbury to Lexington, of the same date; Van Citters of the same date; L'Hermitage, Jan. 1/11 1695. Among the sermons on Mary's death, that of Sherlock, preached in the Temple Church, and those of Howe and Bates, preached to great Presbyterian congregations, deserve notice.]

[Footnote 553: Narcissus Luttrell's Diary.]

[Footnote 554: Remarks on some late Sermons, 1695; A Defence of the Archbishop's Sermon, 1695.]

[Footnote 555: Narcissus Luttrell's Diary.]

[Footnote 556: L'Hermitage, March 1/11, 6/16 1695; London Gazette, March 7,; Tenison's Funeral Sermon; Evelyn's Diary.]

[Footnote 557: See Claude's Sermon on Mary's death.]