JB/002/138/001

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[6] [a farthing every other day] In the existing Exchequer
Bills, the amount of daily interest is thus
specified: and accordingly, as appears to have been
the expectation and wish upon the first issuing of that
species of Paper, in the passing of them from hand to hand the amount of the daily interest
that has been accrued is always added to the price.
This addition is invariable: any variation the price
of them undergoes is expresse does not affect this
ad accumulation, but exhibits itself in the form
of a discount deducted from — or a premium added
to — the principal — viz £100.

[7] [Reckoning from the first of January last] Question - Why
(it may be asked) from the first day of the year, rather and
not than from the day on which the Note is issued?
Answer. Because in that case, the encrease in value
acquired by the Note on each subsequent day of the
year would be matter of calculation — and that
calculation a minute and embarassing one — instead
of since it could not, as ar upon the plan here
adopted, be found by mere inspection, and by instantaneously, by a single
glance cast upon the Table hereinafter provided
for that purpose. This being the case, as The consequence is — that, as since then,
at the end of the year a man receives interest upon
it for the whole year, though it was not till the
middle or near the end of the year that, upon its
being issued to him, he had to pay for it — the
consequence is — that whatever at whatever day
in the year a man purchases such a Note from
Government, he must in addition to the principal sum
constituting the purchase money, be required to pay the amount of the interest
up to that day: otherwise, he would lie, and not make
his purchase till the last moment, and so get the interest of a whole year for nothing.

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Identifier: | JB/002/138/001 "JB/" can not be assigned to a declared number type with value 2.
Date_1		Marginal Summary Numbering	[[marginal_summary_numbering::[6] [7]]]
Box	002	Main Headings	annuity notes
Folio number	138	Info in main headings field
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	d3
Penner	jeremy bentham	Watermarks
Marginals	jeremy bentham	Paper Producer
Corrections		Paper Produced in Year
Notes public		ID Number	877
Box Contents