Plantations; and therefore I am afraid that large quantities of ́ our coin now goes away to pay for our luxury. Suppofe the Balance of trade, we pay Norway for timber, &c. over and above what they take from us, to be The Balance to Sweden for iron, timber, &c. The Balance to Ruffia for hemp, flax, linnen, hides, tallow, pot-afh, timber, iron, &c. The Balance to the Emperor's hereditary countries of Silefia, &c. for broad and narrow garlix, lawns, dowlas, as well as all other forts of linnen, whether from Pruffia, or Switzerland, and all other commodities from Hambro', Bremen, &c. 130,000 The Balance to Flanders for their lace and linnen, 250,000 thread, &c. The balance for cambricks and cambrick-lawns," from St. Quintin, Cambray, Valenciennes, and to Bourdeaux for claret; to Champaign and Burgundy for wine, to Paris for filk and filver brocades, velvets, &c.and great quantities of other goods run in upon us.) The Balance for thrown filk, from Piedmont. To thofe may be added the money spent by young noblemen and gentlemen upon their travels into France, Italy, Germany, &c. and the remittances that are made to the difaffected who are gone abroad. The interest paid foreigners for money in our funds. The money spent upon foreign embaffies, &c. 500,000 200,000 100,000 200,000 60,000 As it is fuppofed we have the above Balances to pay, it may be queried what places we trade with, from whence we are fupplied with effects to answer thofe demands; it is apprehended much the greatest part is raised out of our own plantations, and from Ireland, there being vaft fums due from the latter, to the noblemen and gentlemen of this kingdom, who have estates there, which is remitted to us for the provifions they fend to Spain, Portugal, France, Flanders, Holland, &c. We may add the profits of the Eaft-India trade, the vast quantities of goods that are fold for re-exportation, the profits of the African trade, by the large fums of money we receive for Negroes fold to the Spanish Weft-Indies, D & Ca &c. befides what they fell to our plantations, and gold duft brought home, the balance we receive from Portugal; and we may mention the Balance from Spain, tho' I am afraid that is not fo confiderable as fome imagine. Now, if the treasure drawn from our plantations, and from Ireland, and the profits of the aforefaid trades do not discharge the above Balances, the rest must be paid in gold and filver from hence. As Holland is a magazine, or collection of all the products and manufactures of the world, which they difperfe over all Europe, the merchants and fhop-keepers are every where their debtors, and money is brought them from almost all countries. This over-balance makes them the centre of exchange to all Europe: and we need not admire at it, if we confider that this is the path beat out by their forefathers, that one generation fucceeds another; and conftant additions are made in enlarging their acquaintance, opening new channels of trade, and in bartering commodity against commodity, in which it is faid the Dutch exceed all other nations: And it is reasonable it fhould be fo, confidering the length of time they have been in the practice, their eftates being almost all engaged in trade: For they have not lands and rents fufficient to live upon, as we have in England, and what they have is not very defirable, fince the keeping up their dykes and fea-walls, and other taxes, run away with the greatest part of their income. When our merchants and tradefmen have got plentiful eftates, they turn country gentlemen; but in Holland they are obliged to go on in trade, or fpend out of the capital. The Dutch have a Balance due to them almost every where. Is it not then furprizing, that we who have a country and plantations abounding with provifions of all forts, tin, lead, copper, coals, woollen manufactures, fugar, tobacco, &c. enough for our confumption, and large quantities for re-exportation, fhould not be able with them to pay for what we want from abroad; inftead of which, we fend our money to foreign nations, and by employing their poor instead of our own, enable them to thrust us out of our foreign trade, and by their impofing high duties upon. our manufactures, fo clog the exportation of them, that it amounts to a prohibition. BALDOCK, Hertfordshire. Thirty-eight miles from London; market on Thurfday. Fairs, February 24; July 23, September 21, November 29. Carrier, Golden-Lion and Crofs-Keys, St. John's-ftreet, Friday; the Horfe-Shoe, Gofwell-ftreet, Saturday. on BALES. Bale goods, fuch as filk, calico, linnen and muslin, are enclosed in coarfe wrappers, each Bale ufually about a hundred weight; on paying the cuftom whercof an allowance is made called tare, fuppofed to be the weight of the wrapper. BAMPTON, Oxfordshire, fixty-fix miles from London; market on Wednesday. Carrier, Bull and Mouth, Alderfgate-ftreet, on Thursday. BANBURY BANBURY, Oxfordshire, seventy-feven miles from London; market on Thursday. Fairs on Holy-Thurfday, Auguft 1. Corpus-Chrifti-Day: Alfo the Thursday after Epiphany, and the firft Thursday in Lent for horfes. Carrier White-Swan, Holbourn-bridge Monday; Ram, Smithfield, Thursday. ་ BANDA, E. lon. 128, S. lat. 4. 30. This is the chief of the Banda islands in Afia, where nutmegs grow; they are all of them very fmall, fcarce any of them twenty miles long, and have the island of Ceram on the north, the island of Celebes or Macaffar on the weft; and the ocean on the fouth and east. It lies S. E. of Amboyna 170 miles. The mace covers the nutmeg as the husk covers a nut. These islands have been always much efteemed on account of their producing these spices; the Arabs firft brought them to Egypt, and the coafts of the Levant; and from thence they were distributed all over Europe. The Portuguese having found the way to India round the Cape of GoodHope, about the year 1500, traffick'd with the natives of India and brought thefe fpices to Europe. The Dutch invaded thefe iflands about the year 1609, when the natives put themselves under the protection of the English, and acknowledged the king of England their fovereign: But the Dutch expelled both the natives and the English, ufurp'd the dominion of them, and keep poffeffion of them to this day, excluding all other nations from thefe valuable fpices, which will grow no where else, it is pre tended. BANIANS, a numerous fect in the Eaft-Indies, who never eat any thing that has life; they apply themselves chiefly to trade, and are the greatest merchants in the world. BANJAR, a river in the island of Borneo in the Eaft-Indies, in the mouth whereof is a floating town, where the English EaftIndia-Company have a factory. BANK and BANKERS. Those who make it their business to keep other people's cafh are ftiled Bankers, and in every kingdom in Europe almost are public Banks established, of which the moft confiderable were thofe of Venice, Holland and Hamburgh; and by an act of the 5th and 6th of William and Mary, feveral rates and duties being granted to the crown, upon the tonnage of fhips, and upon beer and ale, for fecuring certain recompences to fuch perfons as fhould advance the fum of 1500,000. the crown was empowered to incorporate all the fubfcribers and contributors to the faid fum, by the name of the governors and company of the BANK OF ENGLAND: Who were impowered to deal in bills of exchange, and in buying and felling gold and filver, and taking pawns, but not to trade with the company's ftock or effects: and it was provided that all bills obligatory and of credit, under the feal of the corporation might be affigned by indorfement, which fhould tranfer the property of the money due upon the fame; and the Bank have fince lent the government as much more money, as makes the D 2 debt debt due to them from the government amount to upwards of ten millions: Bills obligatory, or fealed notes, carry an interest of three per cent. but their other bills which are affignable alfo by indorfement, carry no intereft. Forging, or altering Bank notes, or any indorfement thereon, tendering fuch notes in payment, or demanding money on fuch forged notes, is made felony. See FORGERY. BANKRUPT. Bankrupt is derived from the French word Banqueroute, which fignifies a breaking, or failing in the world. A tradefman departing the realm, keeping up in his house, or abfconding himfelf, fuffering himself to be arrested for a debt not grown due, fuffering himfelf to be outlawed or carried to prifon, or departing from his houfe, with an intent to defraud his creditors, is deemed and taken to be a Bankrupt, by an act of the 13th of Eliz. cap. 7. By an act of Jac. I. cap. 15. it is enacted that if a tradefman fhall willingly, or fraudulently procure himself to be arrested, or his goods, money or chattles, to be attached or fequestred, or depart from his dwelling house, or make any fraudulent conveyance of his lands or revenues, to defeat or delay his creditors in the recovery of their debts; or being arrested for debt shall lye in prifon fix months, fhall be adjudged a Bankrupt: No far-mer, grazier, drover of cattle, inn-keeper, or receiver-general, fhall be deemed a Bankrupt, nor a taylor; but a thoe-maker has been adjudged a Bankrupt, nor does stock in the Bank, India, or South-Sea-Company, bring any one within the statutes of Bankruptcy. A feme covert, fole merchant in London, may be a Bankrupt. No handicraft man that does not get his living by buying and felling, but only by his labour, fhall be deemed a Bankrupt; but a vintner may be a Bankrupt. Contractor for victualling the fleet or army fhall not be deemed a Bankrupt, nor owners of ships, unless they trade. The lord chancellor on application made to him, appoints commiffioners to feize the Bankrupt's perfon, eftate and effects, and to distribute the proceed ratably among his creditors. The commiffioners may examine all perfons fuppofed to have any of the Bankrupts goods or effects, or who are indebted to him concerning them; and any perfon concealing any part of them, is liable to forfeit double the value; all voluntary fettlements and conveyances of lands or goods, made by the Bankrupt, are void, except thofe made on the marriage of his children, or for other valuable confiderations; perfons refufing to appear and be examined concerning the Bankrupt and his effects may be imprifoned. The commiffioners are impowered to appoint affignees of the Bankrupts eftate and effects, in whom the property thereof fhall be vefted, provided that the debtors of the Bankrupts fhall not fuffer for making payments to him, before they knew he was a Bankrupt; the Bankrupts doors may be broke open for he feizing his person and goods, by the commiffioners warrant: Aliens Aliens are fubject to the ftatutes of Bankruptcy, as well as natural born fubjects. The perfon of a Bankrupt is not liable to be arrefted by any creditor, after he has furrendred and fubmitted to be examined. By an act of George I. cap. 24. if the Bankrupt did not furrender himself in thirty-days after notice, and submit to be examined, he was declared a felon without benefit of clergy. The Bankrupt concealing his effects to the value of twenty-pounds, his books of accounts, bonds, notes or papers, is declared guilty of felony, without benefit of clergy. On which act one Town a tallow-chandler was hanged, but this claufe is fince repealed. Upon a certificate of the commiffioners, that a perfon is proved a Bankrupt, and refuses to furrender and be examined, the judges and juftices of the peace are required to grant warrants, to commit the Bankrupt to goal; and he shall be kept within the prifon walls till he fubmit. The trustees of a Bankrupt not difclofing his eftate and effects, within thirty days after notice of the commiffion iffued, forfeit a hundred pound, and double the value of fuch effects: Perfons difcovering the Bankrupts effects voluntarily, within fixty days after the time allowed the Bankrupt to furrender, are allowed three per cent. The affignees fhall take no more than the balance of an account, from any debtor of the Bankrupt's. The Bankrupt fhall be allowed five per cent. out of his eftate, nat exceeding two-hundred pound, and shall be discharged from all his debts contracted before he became a Bankrupt, provided his eftate amount to eight-fhillings in the pound, provided also, that the commiffioners fign a certificate of his conformity, which certificate must be figned alfo, by four parts in five in number and value of his creditors; and the Bankrupt fhall fwear that fuch certificate was obtained without fraud, all fecurities given to induce the creditors to fign such certificate are declared void. No Bankrupt to have the benefit of the act, who hath given with any of his children in marriage above an hundred pound, or who hath loft in one day fifteen, or a hundred in twelve-months before he became a Bankrupt, at play, racing, or betting. No commiffion fhall iffue unless a hundred be due to one, one-hundred and fifty to two, or two-hundred pound to three, or more creditors. No creditor fhall vote for affignees, whofe debt does not amount to ten pounds. The affignees are impowered to compound with any perfon indebted to the Bankrupt. If a creditor receive any money, or confideration from the Bankrupt, the commiffion fhall be fuperfeded. Bankers, brokers and factors are declared to be within the ftatutes of Bankruptcy; an office is erected where the proceedings in commiffions of Bankruptcy are recorded. A judge may order any Bankrupt to be difcharged, who is in execution for a debt, owing before he became Bankrupt; creditors whofe debts are not become payable, are entitled to a ratable part of the Bankrupts eftate, deducting intereft: If one marries when he is a Bankrupt, his wife fhall not be endowed: If a Bankrupt commits felony, his creditors, and not the king, fhall have his effects. A mortgagee need not come in as a creditor; nor a pawnee. One who D 3 |