4 A. D. 1708. 



as it is ufually termed, on the bank of England : and the credit there- 

 of being fo nearly connc(fted with that of the exchequer, the Lord-trea- 

 furer Godolphin, for applying an effedual remedy thereto, fignified to 

 the directors of the bank, that the queen would, for fix months, allow 

 an intereft of 6 per cent on their fealed bills, which till then bore only 

 3 per cent. Moreover, his lordlhip, and the dukes of Marlborough, 

 Ncwcaflle, and Somerfet, and fundry other lords, olTered to advance to 

 the bank confiderable fums of money : by which encouragement, and 

 their making a call of 20 per cent on their capital, the bank was en- 

 abled to weather that florm, and to preferve their credit. 



In the fame year, a like ftatute for the regilier of deeds, conveyances, 

 wills, devifes, mortgages, &c. in the eaft-riding of Yorkfliire, was made, 

 as had been made for the wefl-riding of the fame county four years 

 ])efore, and for much the fame rcafons as were afligned for that ; only 

 the necellity of fuch a regifter is, in the prefent act, exprelled fomewhat 

 ftronger. It is therein faid, ' that the lands in the eaft-riding, and 

 ' in the town and county of the town of Kingfton upon Hull, being 

 ' generally freehold, they may be fo fecretly transferred or conveyed 

 ' from one perfon to another, that fuch as are ill-difpofed have it in 

 ' their power to commit frauds, and frequently do fo, by means where- 

 ' of feveral perfons, who through many years induflry in their trades 

 ' and employments, and by great frugality, have been enabled to pur- 

 ' chafe lands, or to lend monies on land fecurity, have been undone in 

 ' tlieir purchafes and mortgages, by prior and fecret conveyances, and> 

 ' fraudulent incumbrances ; and not only themfelves, but their whole 

 ■ families thereby utterly ruined. All the'provifions and claufes in this 

 ' adl, were hereby extended to the honors, manors, lands, and tenements, 

 ' in the weft-riding of that county, the two former ads relating to it 

 ' being found defedive in feveral particulars.' [6 -.-'/««. c. 25.] 



Loud complaints being at this time made againft the London pawn- 

 brokers, on account of their grinding the faces of the poor by the ex- 

 travagant ufury they took for pledges or pawns, even the moft mode- 

 rate of them takiiig at leaft ^o per cent, and fome twice as much, an 

 application was made to the crown for a charter to incorporate a num- 

 ber of perfons of credit, which they obtained this year, under the name 

 of the charitable corporation for lending money to the induftrious, but 

 neceflitous, poor at a moderate intereft. Yet, as their capital was but 

 Ljo.ooo, they did not fufficiently extend their fcheme until the year 

 1719, when feveral gentlemen of fortune came into it. Their condi- 

 tions for lending were only 10 per cent, viz. 5 per cent as for mere in- 

 tereft, and tlie other 5 per cent for fupporting the expenfe of the cor- 

 poration, fuch as houfe and ware-houfe rent, (alaries of officers and fer* 

 vants, &c. In 1725 they obtained from the crown a farther augmen- 

 tation of their capital, and foon after another: and their direclors nror 



