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JB/001/068/001

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Ch. Miscell Effects
continued
Period II
Property will be
convertible from
the shape of ready
money into that of
a source of income
and vice versa
without profit or
loss.

9. During the whole of this period property
to any amount would will be exchanged changed from the shape of ready
money to that of a source of income and vice versa without
either gain or loss, and vice ver Government annuities being
identified with so large a portion of the currency of the country, the
same piece of paper would will be capable of officiating
in the one capacity or the other, at any
time and at all times, at the pleasure of the
holder.

A deal of expence and hazard which is now in the
presen existing order of things unavoidable, would then thus be saved. At present
if in the of a temporary exigency a holder of Government Annuities has occasion
for a sum of ready money, he must either sell
a portion of his Annuities for the purpose of buying in again when
the exigency is over whenever he comes to be in cash, or a mortgage or a more
considerable portion. The former course depends
upon himself: but besides the which
Brokerage alone
per Cent
5s for every £100

is considerable it is attended with hazard in
respect of the danger of a fall at the time
of selling, not and of a rise at when the time comes for
repurchasing. buying in again. By the Mortgaging plan, the hazard
expence as far as Brokerage is concerned is reduced one half, and the risk is saved:
But this is not in a man's power: particular
friendship alone, it depends upon the
contingency of his having a personal friend, able
and willing to afford him the accommodation.
a stranger as such can never find it worth
his while.

In the proposed order of things, all this expence -
all this risk is at an end. If a man has
property in this shape his transactions are as it were
with himself. He borrows of himself at in the hour of need,
he pays himself again in the hour of affluence.




Identifier: | JB/001/068/001
"JB/" can not be assigned to a declared number type with value 1.

Date_1

Marginal Summary Numbering

not numbered

Box

001

Main Headings

annuity notes

Folio number

068

Info in main headings field

Image

001

Titles

Category

text sheet

Number of Pages

1

Recto/Verso

recto

Page Numbering

f5

Penner

jeremy bentham

Watermarks

1798 a<…>

Marginals

jeremy bentham

Paper Producer

frances wright

Corrections

Paper Produced in Year

1798

Notes public

ID Number

68

Box Contents

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