JB/002/054/001

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+ Art. 15 3

If the trouble attending the issuing of an Annuity
Note (the filling up the blanks and examining and taking
care of the purchase money) were no greater than that of
receiving a penny post letter (allowance made for
the proportion for which money is received and the requisite
maths made) experience shows that the 10th
price of a penny would be a sufficient recompense.
But the trouble would be in a certain considerable degree greater: perhaps
3 4 or 5 times as much: great: therefore so, it would be
necessary, should the pay. A halfpenny might in
this way be necessary, and yet would be at the same time sufficient, in
the case of the standard note of £12:16; and upon
a note of this magnitude not only a half penny, but
several pence might perhaps (as , will be seen + Art. 17.) without
+ See Art. much inconvenience be thusimposed: and thus as far as
notes of that magnitude are concerned, the expence of
management at the local offices might be thrown upon
the individuals the purchasers. But though a purchaser
might not grudge a few pence for the profit to be made
in the way of interest upon a £12:16 note, he certainly
would not give so much as a halfpenny upon
for the profit to be made upon a 6d note. it would
be three or four years before the interest would have reimbursed
the for this advanced fee thus advanced. In notes
that were to a certain degree or below the standard ,
say in the £3:4' note or £1.16': notes it would
be necessary that the fee upon each though not abated along other
remitted altogether should be reduced below the amount
of the lowest com — a farthing: which would be the
case if intro under the £3:4' note for instance,
were not to be taken out but in parcels, and a halfpenny
or a farthing were the fee upon each parcel:
in which case it would be necessary that government would
should