_And there will be no occasion for the Government to pay Interest for lesser Sums, because the valuation of lesser Sums will always bear that proportion which Merchants, Goldsmiths, and Bankers will receive ’em at, from the least Sum to the greatest._
If I pay in, for instance, to a Goldsmith Fifty pounds to day, and Fifty pounds to morrow, he will no more scruple to give me a Note for One hundred pounds, than if I had paid it in at once: And, if I pay my Brewer Five pounds a week, as he brings in my Drink, for twenty weeks together, he will look upon it as good Pay as if I paid him at the twenty weeks end One hundred pounds together; and if Five pounds will pass from me as the _fifth part_ of an _Hundred_, why not, by the same Rule of Proportion 20 Shillings for the _hundredth part_? That which hath the Value of Five pound _Lumbard-street_, hath the same in _Pater-Noster-Row_, and the same likewise at _Brentford_, or elsewhere: And there can be no Instance or Reason given, why Money of the like weight; Intrinsick and Extrinsick Value, should not be as passable in little Sums as in great, since there is an easie Resort, and at hand always; in which, without any distinction, they daily determine.
Where an Hundred pound will be Received, there will Ninety nine, and Ninety eight, and so downwards (for, where can you stop?) to the single Penny.
_And of the Running Cash of_ England _we may reasonably suppose, that one half is not in Sums exceeding Twenty Pounds, and they who have less Sums than that, will have no great Encouragement to look after Interest_.
The Fifth Part which Twenty Pound wants of its Intrinsick Value, is but Four Pounds, and that, at 5 _per Cent._ is but Four Shillings a Year; from which the trouble of Receiving by entering into Combination with others, will for the most part take off, and not make it worth the while.
_So that the whole_ Money _of_ England, _that is New Coin’d, not amounting to above_ 5000000 _l. and but half that to be paid Interest for_, viz. 2500000 l. _and there wanting but a Fifth Part of that_, viz. 500000 l. _the Interest of_ 500000 l. _at_ 5 per Cent. _amounts to just_ 25000 l. per Annum.
_But then, supposing that Interest be demanded for_ ⅗ _of the New-coin’d Money, and that by an unexpected Combination every Sum of Five Pounds should be brought in, yet then the whole Interest amounts to no more than_ 30000 _l._ per Annum.