1756
Page 9 of 23.
B3: Introduction page v.
Kind, has been found to be a Temptation to Monopolies, and the Means of defeating or delaying many good Purposes.
I should be sorry indeed for my Country, and particularly for this Neighbourhood who are nearly concerned, should there be found less of a Publick Spirit amongst us than has lately appear in Northamptonshire, where a fund of 12.000l hath been subscribed for making Navigable the River Nen, from Thrapston to Northampton, at Four per Cent per Ann, upon no better Security, a much worse Prospect of its paying, and subject to the like Contingence as is proposed by this Scheme. And as, on the one hand, by admitting only Five per Cent Interest, 'tis hoped we have guarded against any future lucrative Views or Impositions, so, on the other, by permitting so good an Interest we shall preserve the Undertaking from meeting with Delays and Discouragements for want of a Fund to put it into Execution,
With respect to the Security of the Subscribers, or Proprietors, as the Power of the first Undertakers, appointed by the Act, is long since elapsed by their not executing it in a limited Time, there is a provisional Clause empowering the Commissioners, or any Thirteen of them, to appoint such other Persons to do the same as they shall think fit, and they hereby shall have the same Powers, Authorities, Rights, Privileges, and Interests, for making the same River Navigable, and doing all Things necessary thereto, as the said Undertakers could do by Virtue of this Act; (Page 17). So that, as the whole Body of Subscribers, or any Number of Committee of themselves in Trust for the rest, may be appointed by the Commissioners as Undertakers to put the Act in Execution, it will hereby be rendered indisputable, and, when the Scheme is completed, may be made transferrable in like Manner as the Private Properties of many large Companies are.
It may be expected that some of the particular Advantages resulting from this Scheme should be pointed out; These will arise from the Consideration of the Populousness of our Country, and the large Manufacture established in it. Our numerous Inhabitants occasion a great Consumption of the Necessaries of Life; and as, by means of making the River Navigable, there will be a Communication by Water opened to many large Townes and Counties, in many of which Provisions and other Commodities are generally cheaper than with us, consequently our Pore will be served with them at much better Terms than at present; And, if we add to this the Savings in Carriage of Coals.
