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+ Art. 20 17
14 Novr 1820 Ms useless busy printed Copies extant Annuity Abstract
17 Conversion of Note Annuities — assurance of its taking place [17] Art. 20. [Conversion] Conversion is a word used for
shortness, to indicate the result of two operations: the
the redemption of certn such or such a mass
of stock Annuities with the produce of the part open
of Note Annuities, and on the part of appropriated to this purpose the other the purchase
made by the Stockholders so expelled, or purchase made,
of a fresh mass of Note Annuities by the to equal amount:
a consequence result which, in the case where a man does not choose
to part with the mass of Annuity he receives from
government will be may be regarded as is a necessary consequence consequence.
rooms: the money room and the Note That the disposition to accede to such
conversion should be nearly universal, seems altogether to be
probable. The loss of interest is but a sixtieth: and in Adjacent to the room where a man signs a
all other other points the change will be greatly to a mans recognition of the redemption of his stock Annuities,
advantage. Sooner or later In a very short period it can not two rooms, a money room and an Annuity
fail of taking place. When Stocks 3 per Cents are no higher than par Note room — Is it you count,
the £2.19 Note Annuities are (it is true) worth as far as three x the money room: Do you wish to keep
interest only is concerned no more than £98.6.8: but your Annuities as before — then the Annuity with
room no sooner are the 3 per Cents up at 102, than
the £2.19 per Cents are worth upwards of £100.
By the supposition it is not willingly that the
the thus discharged put with their Annuities.
By the supposition they have it in their
power to keep them in effect, by submitting to this the
proposed change in regard to the form of the secr their search
— of the instrument repressive of their respective rights. By the
supposition they have it not in their power to retain
such their annuities upon any other terms: the consequence inference
seems conclusive that they will submitt to
the proposed change. True it is that by so doing
they sustain a minute loss in respect of the amount
of the Annuity: — a loss defalcation of about 1 per Cent: and in respect of the
form of the instrument or evidence of title there is exists the
difference, just indicated. But the difference it is concurred is
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Identifier: | JB/002/061/001 "JB/" can not be assigned to a declared number type with value 2.
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1820-11-14 |
17* |
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002 |
annuity notes |
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061 |
art. 20 |
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001 |
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text sheet |
1 |
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recto |
e1 / f17 |
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jeremy bentham |
<…>m 1798 |
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frances wright |
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1798 |
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[[notes_public::"14 novr 1820 ms useless being printed copies extant" [note in bentham's hand]]] |
800 |
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