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Art 22 33
Abstract
Plan
Exemplified
reduction to
universal was exemplified took place <add> equal
between
1717 & 1750
Art. 22 [19] [1 1/2 per cent nearly] this degree See Table I
Note [m J. — From
qr reduction would be no greater than what has
been already exemplified From 3 to 1 1/2 is
no greater in degree of reduction than from 6
to 3; which is the reduction being that, which, in the course of
33 years, viz: between 1717 and 1750, took
place in regard to divers parcels of Stock, though
the reduction of the great mass from 4 to 3
per Cent was not completed till 1757. See
II Sinclair II.112..
When Adam Smith wrote, the rate of interest
in the Dutch Funds was already as low as
2 per Cent. [Wealth of Nations [B.I.Ch.IX.]