PROPOSAL, By Doctor Hugh Chamberlen, For a Land Credit, presented to the Parli­ament, By the Committee, to whom it was referred to be Considered.

PRimo, That by an Act of Parliament, The Sum of 300000 lib. ster­ling, should be struck, and made current in Talleys or Notes, of dif­ferent Denominations.

Secundo, That an Office, consisting of privat Persons, should be ap­pointed by the Parliament, for lending these Talleys out at 5 per­cent, upon the best Land Securitie.

Tertio, That the principal Sums borrowed in these Talleys, shall ne­ver be repayed, only the Lands of such who borrow, shall be burdened with the said 5 per cent interest, for the space of 25 years.

Quarto. That four of the said five per cent interest, payed yearly in Talleys shall be destroyed by the Office, so that at the end of 25 years or thereby, there shall not be one Talley in the Kingdom.

Quinto. That one per cent of the said five of Interest, should be im­ployed for defraying the necessary Charge of the Office; Or, otherwise, as the Parliament shall think Convenient.

An Example of this Proposal:

IF 300000 lib. sterling in Talleys, be lent out at five per cent Inter­est, Then this Interest will Extend to 15000 lib. sterling yearly, of which 15000 lib. sterling. The Sum of 12000 lib: sterling being 4 of the said five per cent shall be payed in Talleys and yearly destroyed by the Office, but the remaining 3000 lib. being one of the said 5 per­cent, shall go for defraying the necessary Charges of the Office.

The Heretors who borrow the said 300000 lib. sterling, shall con­tinue paying punctually the said 5 per cent Interest for the same, du­ring the space of 25 years, at the end of which Term their Land shall be free, and the principal shall never be returned, for by destroying the foresaid 12000 lib. sterling yearly of the Talleys, all shall be returned in the foresaid space of 25 years, because 12000 multiplyed by 25 [...] makes 300000. which is the compleat Sum of the Talleys.

The Honourable Estates of Parliament, may be pleased here to observe That the Doctor does not limit this Proposal to a certain definit Sum, nor to a certain limited time; for the Parliament, if they think it proper, may condescend upon any Sum, greater, or lesser, to be repayed within any Term of years.

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