JB/002/191/001

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93

This head of profit will continue be an
to the last, so long as a particle of National enduring one: no degree of plenitude on the part
Debt continues unredeemed. of the Exchequer will supercede it. It would be
bad economy Abstract Exchequer Bill Period Exchequer Bills 7. This profit wiil be an enduring one since no of the Exchequer could warrant the disuse of Exchequer Bills. The use of these is for transient supplies: an adequate permanent one in cash would be mere impression

It is not with Exchequer Bills
as as it was with Navy Bills. It would (as already observed Ch. 4.) be bad economy
to make and keep as fact a perpetual loan to a a certain
amount, in order to save occasional
loans to the same amount, and at the same,
or nearly the same, rate of interest: and to To keep
in hand a sum to the a mass of sum in cash to
the same amount would come to the same
thing: save, by the application of that sum a
proportionable part of the perpetual Debt already
existing might be redeemed. The maximum
of advantage under this head is therefore what results
from keeping the rate of interest on such temporary
loans from rising above or more than one or more than
step above one step the level of the rate of paid on
perpetual loans. and an advantage to this amount
may be seen to be among the effects of
the proposed measure. It must be a step above
the 3 per Cent which during this period will
be the rate of interest on the perpetual
loans: because otherwise there could be a bonus
to attract engage customers: some, but reason of
the constant openness of the issue during this
whole period, at that rate of interest not inferior
to it but by an inconsiderable fraction (viz: as
£2: 19. ) as many as please with
in their power to plan out their money by the
purchase of Annuity Notes.

Identifier: | JB/002/191/001 "JB/" can not be assigned to a declared number type with value 2.
Date_1	1800-08-24	Marginal Summary Numbering	7
Box	002	Main Headings	annuity notes
Folio number	191	Info in main headings field
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	d7 / f93
Penner	jeremy bentham	Watermarks	tw 1794
Marginals		Paper Producer	francis hall
Corrections		Paper Produced in Year	1794
Notes public		ID Number	930
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