I02 History of the English Landed Interest. 



possibility of obtaining any remunerative return upon its 

 purchase-money.^ 



It is interesting to note bow the opponents of registration 

 combated the above contention. An opportunity of doing so 

 is afforded us by the pamphlet already alluded to, which came 

 out later on in the year 1678, and whose author had under- 

 taken the task of refuting the arguments produced in the 

 earlier one. 



The later writer, though willing to admit that the advance- 

 ment of trade was the great concern of the nation, does not 

 allow that such an advancement could be brought about by 

 the remedies suggested. It was, he states, a very strange 

 paradox that country freeholders' estates should be the security 

 of money for merchants or tradesmen to trade withal, or that 

 money dispersed about the country on land securities should 

 advance trade abroad. He stigmatises as a very weak asser- 

 tion his opponent's suggestion ; " That the Lands of this Nation 

 cannot become such a Security but by a Registry," and tra- 

 verses the statement, that registration of titles would attract 

 purchasers, by the assertion that, " no man would willingly 

 submit to invest money in lands if subjected to such grievous 

 conditions." ^ 



As an alternative he proposes that, since the reduction by 

 Parliament of the interest on money from 10 to 8 per cent, 

 had already proved beneficial both to the landed and com- 

 mercial interests, a further step should be made in the same 

 direction. He imagined that if the interest on money could 

 be reduced lower still, say to 5 or even 4 per cent., more 

 and more capital would be risked in trade, and the value o± 

 land would be enhanced. If, on the other hand, the interest 



* Reasons for a Registry, showing briefly the great Benefits and 

 Advantages that may accrue to this Nation thereby, and likeicise recon- 

 ciling those 7nistaken inconveniences tvhich many have conceived thereof. 

 By a Well-wisher to the Publick Interest of the Nation. Feb. 4, 167^. 



^ Reasons against a Registry for Lands, etc., showing briefly the great 

 Disadvantages, Charges, and Inconveniences that may accrue to the 

 ivhole Nation in general, thereby much overbalancing the particidar 

 Advantages that are imagined to arise therefrom. In answer to a late 

 Booh, Intituled " Reasons for a Registry,''^ etc., etc. London, 1678. 



