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2
5 Annuity Notes the Advantages Financial Peace and War
This then Call the total amount of the loan the
norm is for this present year 20-1/2 millions: of
which suppose 8 millions to be paid off r in
the course of the Year by the Income tax of the year.
Upon this 20-1/2 millions the profit of the proposed Annuity Note plan will under this head alone amount
to £1,025,000
5 Suppose 2-1/2 to be taken by the This will go in addition to the currency
Of the this £10 millions worth of Annuity Note Paper
thus produced in the year suppose 2-1/2 to have
been purchased by the Hoarders upon a small
rate to serve as a basis of accommodation, and a
source of permanent income. By this portion of
the mass, so long as it continues in hands belonging
to that class, no part has constitutes any
addition to the quantum currency of currency in circulation,
no more than so much capital in Stock Annuities. But
the remaining 7-1/2 millions, being in the hands
of the Flying Annuitants, who take it as a source
of temporary income: does form an addition to
the currency; though as a part of it will naturally
be kept in hand longer than so much
money would, the effect of the addition made to the currency may not
perhaps be to quite so great an amount.