e^a 



A. D. 1694. 



reducing the Important fortrefs of Namur, the firfl material flap to- 

 wards the peace concluded at Ryfwick in the year 1697. 



Mr. Godfrey, in his judicious Brief account of the intended bank of 

 England, (1694) wifely foretold, ' that if the bank can circulate their 



* foundation of Lr, 200, 000, without having more than L300, 000 ly- 



* ing dead at one time with another, the faid bank will be in efFed as 

 ' L900,ooo frefli money brought into the nation. Tlius' (continues 

 he) ' it will inake money plentiful, trade eafy and fecure ; will raife 



* the price of lands, will draw the fpecies of gold and filver into the 

 ' hands of the common people, as we fee it in Holland, Genoa, and 

 ' other places, where thefe funds are accommodated to receipts and 



* payments. But after all,' (fays he) ' the happy effedls of this under- 

 ' taking, like almofl all other great things in trade, will be bed under- 

 ' flood by the pradlice thereof, when time fhall convince the ignorant,* 

 &c. And as this has adually happened as that able gentleman foretold, 

 we fhall not need to fay more in this place on the great benefits of this 

 bank. 



The charter direds, that there be a governor, deputy-governor, and 

 twenty-four diredors *, of whom thirteen or more fliall conftitute a 

 court, the governor or deputy-governor to be always one. L500 flock 

 to be the lowefl qualifications for a vote in general courts ; and no pro- 

 prietor, how much foever his flock may be, to have more than one 

 vote. The governor's qualification flock to be at leafl L4000, the de- 

 puty-governor's L3000, and each diredor's L2000 ; and all thefe fhall 

 be natural-born fubjeds, or naturalized. LefTening their qualification 

 flock vacates their offices, which fhall be only annual. They fhall take 

 the flate oath, and alio the oath of office, and the oath of flock-quali- 

 fication. Voters alfo in general courts fliall take the qualification oath 

 and flate oath. No dividend to be made but by confent of a general 

 court, and only out of the interefl, profit, or produce, arifing by fuch 

 dealing, buying, and felling, as the ad of parliament allows. General 

 courts may make bye laws, &c. agreeable to the ad of parliament and 



* The names of the fit ft direflois of this great 

 and opulent corporation ought not to be omitted 

 in a hiftory of commerce. They were. 



Sir John Houblon, governor, 



Michael Godfrey, Elq. deputy-governor. 

 D'lreBors. 



Sir John Hufband, 



Sir James Houblon, 



Sir William Gore, 



Sir William Scawen, 



Sir Henty Furnefe, 



Sir Thomas Abncy, 



Sir William Hedges, 



Brook Bridges, 



James Bateman, 



George Boddington, 

 Edward Gierke, 

 James Denew, 

 Thomas Goddard, 

 Abraham Houblon, 

 Gilbert Heathcote, 

 Theodore Janfen, 

 John Lordill, 

 Samuel Lethieullier, 

 William Paterfon, 

 Robert Raworth, 

 John Smith, 

 Obadiali Sedgwick, 

 Nathaniel Tench, and 

 John Ward, Efquires. 



M, 



