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ears； but I think England is not capable to sustain double its present Number of Inhabitants； because it is undoubtedly 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。
19。 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。
20。 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 necessarily 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 Price of Things were kept lower； the Way above suggested。
21。 I 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 Companies ever incorporated； because； besides many Evils that necessarily adhere to all trading Corporations； their Stock and Bonds have the same Effects as Banking； viz。 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 Rates； which the Cash； if it were all afloat； would support them at； and which now by Banking and other artificial Moneys； i。e。 Paper Effects having the Operation of Money； are certainly； vastly above the Rates 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 Sea d'Halve； which they deliver each other in Bags unopened； containing 375 Guldens； and numbered； or ticketed without Sides 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 telling him how much it fell short； immediately； without any Questions； makes it good； and if there be an overplus； they always reckon themselves obliged 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 necessary Settlements with the Bankers about them afterwards； besides； that the vast Damage arising by Failure of Bankers； would this Way be intirely prevented。
22。 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 Plan of the English Commerce； 2d 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 Consumption； and Page 66； he says； the Wages of their labouring People do not exceed two Pence Sterling per Day。
23。 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 plentiful； and thereby so cheap； that the Wages of the labouring Man will purchase as many of them as the decent and comfortable Support of a middling Family requires in that Station of Life。
24。 E。 Phillips； Page 44； says； I believe I shall be allowed to compute the Rents of the Kingdom at 20 Millions。
25。 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 20th； 1732…3。 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。
26。 In a Mass of People； there is not above one half labouring or manufacturing。 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 2/3 of the People are between these Ages； from these we must deduct at least 1/6； under the following Classes； Female； sequestered from Labour by the Condition of their Sex； the Idle； by Rank or Choice； Men of Profession； such as vend the Manufacture 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 in the whole。 For Example： Suppose three Millions of labouring People； and 30；000 Men carrying Arms； or levying Taxes； 30；000 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 Fog's Journal of January 20th； 1732…3。
27。 See the last Paragraph of the Spectator； no。 200。
28。 The Sum coin'd in Queen Elizabeth's 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 IId； and King James IId； being 6 Millions and an Half of Gold； 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。
29。 Mr Richard Bradley； Professor of Botany in the University of Cambridge； and Fellow of the Royal Society； in his Philosophical Inquiry into the ate sever 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； of which it was reckon'd there were about 11 Millions ci