JB/002/036/001

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7

It is an inconvenience attached to the existence
of every species of circulating paper as
yet in use (at least in this country at least)
that the greater the quantity of it more there is of it, the more
exposed it is to have its value reduced or
even annihilated by any of those accidents
which produce what is called a run: in the
case of the proposed paper, so far is it from
being in this predicament, that on the contrary
the more there is of it, the better the
payment of what it undertakes for the annuities promised by it is secured:
since in proportion as it the quantity of it is encreased, the
substitute reduced rate say the three per cent
is substituted to the ordinary rate say the
5 per Cent: and the amount of the national burthen is so much the less considerable. The proposition is enigmatical
paradoxical even at the first blush: but the
riddle is solved — the paradox dispelled — as
soon as started. Were it possible practicable
(which it is not pretended to be) to transmute
the whole existing mass of existing Government annuities from their
present form to shape into this new proposed form, the
amount of the annual payments to be made
on this score would be reduced from 15 millions
a year a quantum to which it is fast approaching
to 9 millions. This is too much to expect:
but the advantage of it amounted to no more than the
reducing of £1,500,000 of the £15,000,000 to £600 000, would not be to be
despised.

Identifier: | JB/002/036/001 "JB/" can not be assigned to a declared number type with value 2.
Date_1		Marginal Summary Numbering	7
Box	002	Main Headings	annuity notes
Folio number	036	Info in main headings field
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	d7
Penner	jeremy bentham	Watermarks	tw 1794
Marginals	jeremy bentham	Paper Producer	francis hall
Corrections		Paper Produced in Year	1794
Notes public		ID Number	775
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