[Industrial Biography by Samuel Smiles]@TWC D-Link book
Industrial Biography

CHAPTER IV
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Chambers says that on the decline of his popularity in 1677, he was taken by Lord Clarendon to Salisbury to survey the River Avon, and find out how that river might be made navigable, and also whether a safe harbour for ships could be made at Christchurch; and that having found where he thought safe anchorage might be obtained, his Lordship proceeded to act upon Yarranton's recommendations.[16] Another of his grand schemes was the establishment of the linen manufacture in the central counties of England, which, he showed, were well adapted for the growth of flax; and he calculated that if success attended his efforts, at least two millions of money then sent out of the country for the purchase of foreign linen would be retained at home, besides increasing the value of the land on which the flax was grown, and giving remunerative employment to our own people, then emigrating for want of work.

"Nothing but Sloth or Envy," he said, "can possibly hinder my labours from being crowned with the wished for success; our habitual fondness for the one hath already brought us to the brink of ruin, and our proneness to the other hath almost discouraged all pious endeavours to promote our future happiness." In 1677 he published the first part of his England's Improvement by Sea and Land--a very remarkable book, full of sagacious insight as respected the future commercial and manufacturing greatness of England.
Mr.Dove says of this book that "Yarranton chalks out in it the future course of Britain with as free a hand as if second-sight had revealed to him those expansions of her industrial career which never fail to surprise us, even when we behold them realized." Besides his extensive plans for making harbours and improving internal navigation with the object of creating new channels for domestic industry, his schemes for extending the iron and the woollen trades, establishing the linen manufacture, and cultivating the home fisheries, we find him throwing out various valuable suggestions with reference to the means of facilitating commercial transactions, some of winch have only been carried out in our own day.

One of his grandest ideas was the establishment of a public bank, the credit of which, based upon the security of freehold land,[17] should enable its paper "to go in trade equal with ready money." A bank of this sort formed one of the principal means by which the Dutch had been enabled to extend their commercial transactions, and Yarranton accordingly urged its introduction into England.

Part of his scheme consisted of a voluntary register of real property, for the purpose of effecting simplicity of title, and obtaining relief from the excessive charges for law,[18] as well as enabling money to be readily raised for commercial purposes on security of the land registered.
He pointed out very graphically the straits to which a man is put who is possessed of real property enough, but in a time of pressure is unable to turn himself round for want of ready cash.

"Then," says he, "all his creditors crowd to him as pigs do through a hole to a bean and pease rick." "Is it not a sad thing," he asks, "that a goldsmith's boy in Lombard Street, who gives notes for the monies handed him by the merchants, should take up more monies upon his notes in one day than two lords, four knights, and eight esquires in twelve months upon all their personal securities?
We are, as it were, cutting off our legs and arms to see who will feed the trunk.


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