en the larger upon this first head, because the same
observations will clear up and strengthen a good deal of what I shall
affirm upon the rest.

The second maxim of those who reason upon trade and government, is, to
assert that "Low interest is a certain sign of great plenty of money in
a nation," for which, as in many other articles, they produce the
examples of Holland and England. But, with relation to Ireland, this
maxim is likewise entirely false.

There are two reasons for the lowness of interest in any country. First,
that which is usually alleged, the great plenty of species; and this is
obvious. The second is, the want of trade, which seldom falls under
common observation, although it be equally true: for, where trade is
altogether discouraged, there are few borrowers. In those countries
where men can employ a large stock, the young merchant, whose fortune
may be four or five hundred pounds, will venture to borrow as much more,
and can afford a reasonable interest. Neither is it easy, at this day,
to find many of those, whose business reaches to employ even so
inconsiderable a sum, except among the importers of wine, who, as they
have most part of the present trade in these parts of Ireland in their
hands, so they are the most exorbitant, exacting, fraudulent dealers,
that ever trafficked in any nation, and are making all possible speed to
ruin both themselves and the nation.

From this defect of gentlemen's not knowing how to dispose of their
ready money, ariseth the high purchase of lands, which in all other
countries is reckoned a sign of wealth. For, the frugal squires, who
live below their incomes, have no other way to dispose of their savings
but by mortgage or purchase, by which the rates of land must naturally
increase; and if this trade continues long, under the uncertainty of
rents, the landed men of ready money will find it more for their
advantage to send their cash to England, and place it in the funds;
which I myself am determined to do, the first considerable sum I shall
be master of.

It hath likewise been a maxim among politicians, "That the great
increase of buildings in the metropolis, argues a flourishing state."
But this, I confess, hath been controlled from the example of London;
where, by the long and annual parliamentary session, such a number of
senators, with their families, friends, adherents, and expectants, draw
such prodigious numbers to that city, that the old hospitable cust