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19 Oct. 1800 1 2d Note 4

Note (b) to p.1 Ch. XVI Rise of Prices
Circulatg Capital

3 1. (b)
Sources of the delusion
1 Money, being termed
capital - Difference
in this respect believe
addition to productive
capital at the
expense of current
expenditure, and
addition to the mass
of money -

(b) Language the Source so frequently the source of
delusion,, had exercised its delusive power in the I must
confess in my own instance present instance. Capital [-] [+] (paid I to myself)
is the source of
is the source of wealth
Money is capital: for it is circulating capital.
every addition to the mass of money is therefore an addition
to the mass of wealth. Four hundred millions
is the amount of the addition that will be made
to the mass of national capital sooner or later in the course of
time, by the redemption of the National Debt.
If five and twenty millions be the amount of
the Annuity Note paper issued coming and remaining in circulation, and the quantity
of this money cash and paper together be not
diminished, this makes another addition to that
amount to the mass of national capital: four
together four hundred and twenty five millions.

Further delusioin -
No addition to labour
but by money

Looking a little more closely On a closer scrutiny I perceived at
length that nothing could be more different in respect
of the effect on the amount of the mass of national
wealth than the addition to capital at large
by money paid to the public creditors in redemption of National Debt,
and the addition to that part of the circulating
capital of the country which consists of money,
by Annuity Note paper issued and retained in
the circulation. The former addition by the in the the addition in
shape of money money bore the test of examination: -
the other latter addition - the addition in paper vanished: in great measure: - not because
it was in paper - for had it been in money cash
it would have vanished in equal proportion -
but because made in circumstances which
would not admitt of its being productive of a
correspondent addition to the mass of real wealth —
to the mass of vendible commodities.

Identifier: | JB/001/015/001
"JB/" can not be assigned to a declared number type with value 1.



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annuity notes

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note (b) to p. 1


text sheet

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d1 / f4


jeremy bentham


1798 a<…>


jeremy bentham

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frances wright


jeremy bentham

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