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Art. 21 32
Annuities
Abstract
Replacing Subsistution of the
Annuities
to the Sinking Fund
will take place
only on the redemption
advances
[18] Art. 21. [Replacing] The provisi item for this
provision to be carried into execution will of course
not commence till after the compleat redemption
of the notes of the first issue, isc: after the compleat
conversion of the notes paper of the first issue into
paper of the 2d or issue: because so long
£2:19s: 4 3/4 is to be redeemed by redeemable on payment
of £100, it would be idle to pay employ £125 in producing
the same effect. It will therefore be a considerable time that the the public will therefore
have been enjoying the benefits of the reduction, before
the term for reimploying replacing it in futuro
as to any part of the remaining mass, will thus arrive.