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[Page 8]
the circulation of the personal Notes of Individuals, soon reduce the Money price of all Articles to its natural level & establish a depository of unquestionable security for monied property, a matter of no small importance in a Colony chiefly peopled by dishonest persons, it would also in due time encourage individuals to open Stores for the Sale of European Goods at a fair price & relieve Government from the unpleasant necessity of being Retail Traders which in the present state of things is unavoidable, altho it is productive of many evils to the Colony, from the inferior quality of the Goods purchasd by Contract & the high prime cost Government must of necessity pay & which never can be so moderate as the Price which Wholesale Traders can always command.
The expence of the Bank of Transfer in Holland is defrayed by a half yearly payment of a small annual percentage on all Deposits ./8 per cent with a small annual payment from every one who uses the Bank say 10s a Year & a reasonable charge for Exchange on Bills on Europe would soon if not immediately defray all the charges of the Bank.