The Consolidator - or, Memoirs of Sundry Transactions from the World in the Moon by Daniel Defoe
page 154 of 219 (70%)
page 154 of 219 (70%)
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They call'd all their Cash out of the Solunarian Bank; and as the Act of the Cortez confirming the Bank then in being seem'd to be their Support, they made it plain that Cash and Credit will make a Bank without a publick Settlement of Law; and without these all the Laws in the Moon will never be able to support it. They brought all their running Cash into one Bank, and settled a sub-Cash depending upon the Grand-Bank in every Province of the Kingdom; in which, by a strict Correspondence and crediting their Bills, they might be able to settle a Paper Credit over the whole Nation. They went on to settle themselves in all sorts of Trade in open Companies, and sold off their Interests in the publick Stocks then in Trade. If the Government wanted a Million of Mony upon any Emergency, they were ready to lend it as a Body, not by different Sums and private Hands blended together with their Enemies, but as will appear at large presently, it was only Crolian Mony, and pass'd as such. Nor were the Consequences of this New Model less considerable than the Proposer expected, for the Crolians being generally of the Trading Manufacturing part of the World, and very Rich; the influence this method had upon the common People, upon Trade, and upon the Publick was very considerable every way. 1. All the Solunarian Trades-Men and Shop-keepers were at their Wits end, they sat in their Shops and had little or nothing to do, while |
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