William Petty

“ The simple and universal Pole keeps an account of the great Wealth and Strength of the Kingdom, the People.
(3.) Rating the Houses per Chimney, gives a good account of Improvements and Dilapidations.
(4.) Excize gives an account of Domestick Expences, and publisheth Exorbitances.
(5.) Land-taxes keep the Payments to the proportion of entire value, not of Annual Rent: So as an Estate in Housing pays no more than if it were in Lands, nor considerable less than Goods, and may bring Mortgages to their just contribution ”

“ I answer, in Ratiocinations upon the Works and Will of God, to be supported not only by the indolency, but also by the pleasure of the Body; and not only by the tranquility, but serenity of the mind; and this Exercise is the natural end of man in this world, and that which best disposeth him for his Spiritual happiness in that other which is to come. The motions of the mind being the quickest of all others, afford most variety, wherein is the very form and being of pleasure ”

“ Now the making Necessaries cheap, by the means aforesaid, and not by raising more of them than can be spent |23| whilst they are good, will necessitate others to buy them with much labour of other kinds. For if one man could raise Corn enough for the whole, better than any one man; then that man would have the natural Monopoly of Corn, and could exact more labour for it in exchange, than if ten others raised ten times as much Corn as is necessary; which would make other labour so much the dearer, as men were less under the need of engaging upon it. ”

“ For Money is but the Fat of the Body-politick, whereof too much doth as often hinder its Agility, as too little makes it sick. 'Tis true, that as Fat lubricates the motion of the Muscles, feeds in want of Victuals, fills up uneven Cavities, and beautifies the Body, so doth Money in the State quicken its Action, feeds from abroad in the time of Dearth at Home ”

“ I answer yes; for the Expence being 40 Millions, if the revolutions were in such short Circles, viz. weekly, as happens among poorer artizans and labourers, who receive and pay every Saturday, then 40⁄52 parts of 1 Million of Money would answer those ends: But if the Circles be quarterly, according to our Custom of paying rent, and gathering Taxes, then 10 Millions were requisite. Wherefore supposing payments in general to be of a mixed Circle between One |14| week and 13. then add 10 Millions to 40⁄52, the half of the which will be 51⁄2, so as if we have 51⁄2 Millions we have enough. ”

“ For as much as he that can do the Work of five men by one, effects the same as the begetting four adult Workmen. Nor is such advantage worth fewer years purchase than that of Lands, or what we esteem likest to perpetual. ”

“ NOW if the Annual proceed of the Stock, or Wealth of the Nation, yields but 15 millions, and the expence be 40. Then the labour of the People must furnish the other 25; which may be done, if but half of them, viz. 3 millions earned but 8l. 6s. [9] 8d. [10] per annum, which is done at 7d. per diem, abating the 52 Sundays, and half as many other days for accidents as Holy days, sickness, recreations, &c. ”

“ The which upon considering many several Houses, I find not unreasonable.
(Lastly,) supposing that in the Houses within the Liberties of London (worth 5 Millions) there be 10 Millions worth of Goods; I conceive that to allow about as much more, viz. 21 Millions) to all the rest of the Houses in the Kingdom, which are ten times as many as aforesaid, will not overcharge them. |7|
13. Now if the Land worth 144 Millions, yield 8 Millions per annum, the other Estate converted into the like Species must yield 5+8⁄9 more; but because Money and other personal Estates yield more per annum than Land ”

“ In ye greatest plague wee feare, scarce 20th families will bee infected; and in this new method but 10th, ye charge whereof will bee 50th pounds.
8. The People which ye next plague of London will sweep away will be probably 120th, which at 7£ per head is a losse of 8,400ths the half whereof is 4, 200ths.
9. So as 50 is ventured to save 4,200, or about one for 84.
10. There was never a Plague in ye campagne of England by which 1⁄6th of ye people dyed.
11. Poore people who live close dye most of ye plague. ”

“ The most uncertain part of this Estimate, seems to be rating personal Estates at above 30 Millions, which I make probable thus.
(1) First it is not unlikely that what is contained in all the Shops, Warehouses, Cellars, Barns, and Graineries, together with Household Furniture, Cloaths, Ornaments, &c. should be less worth than Housing it self that contains them.
(2) If the value of all the Cattel, viz. 36 millions, were added to the 31 personal Estates, making 67 together; both will not make up 13⁄4 years Provision for the whole Nation, whose Expence we estimated at 40 millions per annum ”

“ If 6 Millions of People be worth 417 millions of pounds Sterling, then each head is worth 69l. or each of the 3 millions of Workers is worth 138l. which is 7 years purchase, at about 12d. per diem; nor is superlucration above his subsistence to be reckoned in this Case.
5. From whence it follows, that 100,000. persons dying of the Plague, above the ordinary number, is near 7 Millions loss to the Kingdom ”

“ To raise 45000l. per annum, from all the Housing worth 30 Millions, or 7500 for the Housing in London-Liberties, worth about 5 Millions, and whose Rent is 4,20 000l. per annum, requires but 1⁄56 of the annual Rent, which cannot be above 12d. a Chimney per Annum, reckoning 5 to each House. Without the Liberties, about 10d. the Chimney will effect the same; 6d. in the Cities and Market-Towns, and 4d. elsewhere. |13|
6. As for the 625,000l. to be raised by the People, it requires but 2s. 1d. per Pole per Annum, which let rather be divided into a Pole of 6d. ”

“ If the expence of the Nation be 40 Millions; it seems but the same hardship to set apart 4. viz. 1⁄10 of the whole for the publick use, as what now lies upon many already: But 4 Millions would afford one for the ordinary Expence, and |10| three for the extraordinary Wars, that is 25000l. per mensem; that is 31⁄2 as much as 70. For the raising whereof, many now pay above a 1⁄10 of their whole Estates [15] , for want of Method and Proportion.
10. Labouring men work 10 hours per diem, and make 20 meals per week, viz. 3 a day for working-days, and two on Sundays ”

“ To raise 54000l. per annum, out of 36,000000 M. requires the annual payment of a 666th part of the whole value; but in regard of Charges, let it be reduced to a 600th part.
4. The like for the 60000l. of Personal Estates. ”