JB/002/156/001

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Annuity Notes

§§ Calculation
indubitable
Private Market
disadvantages
continued.

40
Circumstance of
isadvantage contributing
to prevent
the private market
from interfering with
this public one
to prevent a man
from handing out
cash to individuals
in such circumstance
as to preclude
from investing
in the purchase
this paper

III. Circumstances of competitive disadvantage attending the private
market may be reckoned up as follows: viz

1. Trouble and expence and loss of / in the enquiry in
necessary in many cases to the meeting with a
fit opportunity of placing out money at interest
N.B. In the case of the proposed market this circumstance of disadvantage is
wanting altogether:

2. Want of coincidence between the quantum of the sum wanted
to be borrowed and the that of sum ready to be lent.
— Wanting altogether:

3. Want of coincidence between the time for which
money is wanted to be borrowed, and the time
for which it can be spared it conveniently be lent. Wanting altogether.

4. Difficulty of obtaining sufficient assurance respecting
the competency of the security in its several points of view: —
respecting the borrowers trustworthiness in every point
moral character — and pecuniary sufficiently sufficiency included:
Wanting altogether.

5. Trouble, expence loss of time and interest attendant
on the adjustment of the pecuniary part of the security. — Wanting
altogether.

6. Trouble, sometimes expence, loss of time and
interest — attendant on the process of demanding
and obtaining payment of the interest alone —
or of principal and interest together, as the
case may be. = Trouble and loss of time reduced
to next to nothing: expense and loss of interest, wanting altogether.

7. Danger of loss and particular incidental inconvenience
by unexpected delays in regard to payment —
Wanting altogether. —

8. Danger an fear of the necessity of litigation —
Wanting altogether.

9 Unwillingness to deal with a stranger in consideration
of the uncertainty respecting his trustworthiness
as above defined. — Wanting altogether. —

10. Unwillingness to deal with the party individual, if a stranger, in contemplation respect
of the eventual objective of the risk of being eventually obliged, either of
distressing him to distress him by pressing him
for payment, or so to submitt to loss, for want of such
importunity in many cases. [+]
[+] In case of In the instance of a friend,
in case of any apprehension
on the score of any want
of solvency, still more
if on any failure on that
if on that of trust
moral trustworthiness,
of unwillingness still
greater. — Wanting
altogether.

11. Unwillingness in many cases to accept of interest from the individual if a friend, especially
if it be on a small sum, or for a short time — Wanting altogether.