fraud must lie; it is none of my business.
I wish they would search into it whose power can punish it. But this, with submission, I presume to say: The king is thereby defrauded and horribly abused, the true intent and meaning of Acts of Parliament evaded, the nation involved in debt by fatal deficiencies and interests, fellow-subjects abused, and new inventions for taxes occasioned.
The last chapter in this book is a proposal about entering all the seamen in England into the king’s pay – a subject which deserves to be enlarged into a book itself; and I have a little volume of calculations and particulars by me on that head, but I thought them too long to publish. In short, I am persuaded, was that method proposed to those gentlemen to whom such things belong, the greatest sum of money might be raised by it, with the least injury to those who pay it, that ever was or will be during the war.
Projectors, they say, are generally to be taken with allowance of one-half at least; they always have their mouths full of millions, and talk big of their own proposals. And therefore I have not exposed the vast sums my calculations amount to; but I venture to say I could procure a farm on such a proposal as this at three millions per annum, and give very good security for payment – such an opinion I have of the value of such a method; and when that is done, the nation would get three more by paying it, which is very strange, but might easily be made out.
In the chapter of academies I have ventured to reprove the vicious custom of swearing. I shall make no apology for the fact, for no man ought to be ashamed of exposing what all men ought to be ashamed of practising. But methinks I stand corrected by my own laws a little, in forcing the reader to repeat some of the worst of our vulgar imprecations, in reading my thoughts against it; to which, however, I have this to reply:
First, I did not find it easy to express what I mean without putting down the very words – at least, not so as to be very intelligible.
Secondly, why should words repeated only to expose the vice, taint the reader more than a sermon preached against lewdness should the assembly? – for of necessity it leads the hearer to the thoughts of the fact. But the morality of every action lies in the end; and if the reader by ill-use renders himself guilty of the fact in reading, which I designed to expose by writing, the fault is his, not mine.
I have endeavoured everywhere in this book to be as concise as possible, except where calculations obliged me to be particular; and having avoided impertinence in the book, I would avoid it too, in the preface, and therefore shall break off with subscribing myself,
Sir,
AUTHOR’S INTRODUCTION
Necessity, which is allowed to be the mother of invention, has so violently agitated the wits of men at this time that it seems not at all improper, by way of distinction, to call it the Projecting Age. For though in times of war and public confusions the like humour of invention has seemed to stir, yet, without being partial to the present, it is, I think, no injury to say the past ages have never come up to the degree of projecting and inventing, as it refers to matters of negotiation and methods of civil polity, which we see this age arrived to.
Nor is it a hard matter to assign probable causes of the perfection in this modern art. I am not of their melancholy opinion who ascribe it to the general poverty of the nation, since I believe it is easy to prove the nation itself, taking it as one general stock, is not at all diminished or impoverished by this long, this chargeable war, but, on the contrary, was never richer since it was inhabited.
Nor am I absolutely of the opinion that we are so happy as to be wiser in this age than our forefathers; though at the same time I must own some parts of knowledge in science as well as art have received improvements in this age altogether concealed from the former.
The art of war, which I take to be the highest perfection of human knowledge, is a sufficient proof of what I say, especially in conducting armies and in offensive engines. Witness the now ways of rallies, fougades, entrenchments, attacks, lodgments, and a long et cetera of new inventions which want names, practised in sieges and encampments; witness the new forts of bombs and unheard-of mortars, of seven to ten ton weight, with which our fleets, standing two or three miles off at sea, can imitate God Almighty Himself and rain fire and brimstone out of heaven, as it were, upon towns built on the firm land; witness also our new-invented child of hell, the machine which carries thunder, lightning, and earthquakes in its bowels, and tears up the most impregnable fortification.
But if I would search for a cause from whence it comes to pass that this age swarms with such a multitude of projectors more than usual, who – besides the innumerable conceptions, which die in the bringing forth, and (like abortions of the brain) only come into the air and dissolve – do really every day produce new contrivances, engines, and projects to get money, never before thought of; if, I say, I would examine whence this comes to pass, it must be thus:
The losses and depredations which this war brought with it at first were exceeding many, suffered chiefly by the ill-conduct of merchants themselves, who did not apprehend the danger to be really what it was: for before our Admiralty could possibly settle convoys, cruisers, and stations for men-of-war all over the world, the French covered the sea with their privateers and took an incredible number of our ships. I have heard the loss computed, by those who pretended they were able to guess, at above fifteen millions of pounds sterling, in ships and goods, in the first two or three years of the war – a sum which, if put into French, would make such a rumbling sound of great numbers as would fright a weak accountant out of his belief, being no less than one hundred and ninety millions of livres. The weight of this loss fell chiefly on the trading part of the nation, and, amongst them, on the merchants; and amongst them, again, upon the most refined capacities, as the insurers, &c. And an incredible number of the best merchants in the kingdom sunk under the load, as may appear a little by a Bill which once passed the House of Commons for the relief of merchant-insurers, who had suffered by the war with France. If a great many fell, much greater were the number of those who felt a sensible ebb of their fortunes, and with difficulty bore up under the loss of great part of their estates. These, prompted by necessity, rack their wits for new contrivances, new inventions, new trades, stocks, projects, and anything to retrieve the desperate credit of their fortunes. That this is probable to be the cause will appear further thus. France (though I do not believe all the great outcries we make of their misery and distress – if one-half of which be true, they are certainly the best subjects in the world) yet without question has felt its share of the losses and damages of the war; but the poverty there falling chiefly on the poorer sort of people, they have not been so fruitful in inventions and practices of this nature, their genius being quite of another strain. As for the gentry and more capable sort, the first thing a Frenchman flies to in his distress is the army; and he seldom comes back from thence to get an estate by painful industry, but either has his brains knocked out or makes his fortune there.
If industry be in any business rewarded with success it is in the merchandising part of the world, who indeed may more truly be said to live by their wits than any people whatsoever. All foreign negotiation, though to some it is a plain road by the help of custom, yet is in its beginning all project, contrivance, and invention. Every new voyage the merchant contrives is a project; and ships are sent from port to port, as markets and merchandises differ, by the help of strange and universal intelligence – wherein some are so exquisite, so swift, and so exact, that a merchant sitting at home in his counting-house at once converses with all parts of the known world. This and travel make a true-bred merchant the most intelligent man in the world, and consequently the most capable, when urged by necessity, to contrive new ways to live. And from hence, I humbly conceive, may very properly be derived the projects, so much the subject of the present discourse. And to this sort of men it is easy to trace the original of banks, stocks, stock-jobbing, assurances, friendly societies, lotteries, and the like.
To this may be
