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# JB/001/002/001

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Abstract
Ch.
War Loans

6
Calculation of the
rate of profit compared
with that
of the Sale of the
Land Tax in the
same score
on the score
1. Profit by Sale
of Land Tax on
the whole and
sold in 5 Dec 1800

A glimmering light being better than total darkness
— giving up the amount of profit, the following is
an imperfect sketch of what might have been the rate of profit on this score
from the proposed measure, as compared with the rate
of profit on the same score from the Sale of the Land
measure of similar tendency - viz. the sale of the Land Tax for Stock

1. Calculation of the Type larger Rate of Profit by Sale of Land Tax for Stock paid consequent percent of Stock
Between the 1st of May 1799 &
By the 4th of Decr 1799, a year of the Land Tax had been sold
£437, 659
<p>1. By the 4th of Decr 1799, £437, 659 (say for
round numbers £450,000 from land bought in. - - - £450,000
Stock (3 per Cent Countye and Reduced) stock
£16,046,727 - say for round numbers - £16,000 000

p. 77. 6th Der. 1800 (1) Note (1) in p. 132

2. annuities to the amount of £16,046, 727 — say for round numbers (1) — £16,000 000

3.At the time the expectation of this measure
began to act, won in April 1798 (2) Stocks win as low as about 48

(2) Note (2) in p.132.
4.Price at the conclusion of the treaty for the
Loan --say - -(3) - - - - - - - - - - - - - - - - - - - - - - -64

(3) Note (3) in p. 132

5.These according produced by these cause among them,
but for the present sum by this cause alone. (4) - - 16 per Cent
(4) Note (4) in p. 133.

6. This rise being produced by £16,000,000 of Stock
taken out of the market, is for each for each million
taken out- - - - - - - - - - - - - - - - - - - - - one per Cent.

7. By this rate of 16 per Cent, in the price of Stock,
the terms of the next War Loan and all other succeeding
War Loans, were made better to Government
by 16 per Cent — upon the sum borrowed by
each Loan

2,050,000
5| 1,025,000
2

8.By the three next Loan the amount of of this
money borrowed was - - - - - - - - - - - - - - - - - - - - - - - - - - ) £20,50,000

9.Sixteen per Cent saved upon that sum
profit by the terms of the loan - - - -) £3,280,000

(5) (5) rate/note (5) in p. 134.

10. Forty eight percent being the lowest price given for
any kind of the above 16,000,000 of Stock, &
64, the highest, the average of the price given
for it was 56 per Cent.

11. Total price given for the £16,000,000 at
56 per Cent was therefore - - - - - - - - - - - - - - - - - - - - - -) 18,960,000.

Identifier: | JB/001/002/001
"JB/" can not be assigned to a declared number type with value 1.

6

001

annuity notes

002

001

text sheet

1

recto

f129

jeremy bentham

m<…> 1798

1798

2