JB/002/212/001

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Abstract
Advant
Conclu period

the rate of this fourth issue (£1.3: 8 1/2 per Cent)
the reduction of the rate of interest would go on. Contin
Illustration
continued
But, by the supposition, in such purchaser does
present himself. The persons who hadbeen keeping
their capitals in the shape of Annuity Note paper of the 2d issue at £2.97s:.65d,
are, by the redemption of the remaining paper of
that issue, put to their option - either to cease
letting their capital lie on that sort of security,
or to accept of £1.3:8 1/2 per Cent. By the
supposition they all reject in paper bearing this new and lowest
rate: and refuse to meddle with the paper of
the fourth issue, they will not meddle with it, so much<add>not even</add>, even for a time, and with a
view of putting it into circulation, by employing it in the ways
in which they determine to employ the capital thing
known upon their hands: + for if they take but the + It is still taken,
and that to the
amount of 20 Millions,
by the customers
for temporary income
in the course of, and
with a view to, circulation:
but by this
20 millions, the demand,
on the part of that
class of customers,
(it may be supposed)
is satisfied. I
smallest q a single note of it any the smallest
quantity of it, though it were but a single note,
the money paid for this note would be employ'd
by the Commissioners in the paying ofredemption of so much paper of the preceding
issue, and a slip would in so far be made towards the reduction:
the reduction would in far commence: although
although; would so far, have been made. of by the terms of the constitution of this paper,
the notes were not to be paid off but in intire
classes say at this time period £500,000 in a class)
the reduction printed at by this fourth issue
could not take place unless and untill the sum
of £500,000 was compleated.

When

—

In this case there will be but so much added to the debt without
correspondent defalcation.

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