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Abstract
Ch. XIII. Partic Interest
Money the property
Every reduction of
the rate of interest
as
very heavy need a
in income
of 50 per Cent
the
has been
the send
declared intention
of the legislative
Ch. XIII Particular interest concerned.
Of the four distinguishable advantages<add>objects</add>aimed at by and effects expected for by
looked for for by the proposed measure, that which will probably be
regarded as the principal, is the degree of acceleration and
assurance promised by it to the extinctionredemption of the
National Debt. To the accomplishment of this so desirable
an object, in a way consistent with existing
engagements, in relation to it, no damage
accruing to particular interests has ever been
considered as opposing my such a bar asthat ought to not be be
be surmounted regarded as unsurmountable. That a reduction
say from 4 to 3 per Cent, is a perpetual
tax to that amount
and that a perpetual the amount of 25 per Cent
upon the income of a particular class of men
in a proposition to to be disported too
obvious to be overlooked. Yet the design of
effecting such reduction of the same cost, and
that to an undefined amount, is a design
rooted as the mind of the legislature, in design
evidenced by the practice of preceding legislaturesParliaments<add>II</add> Note
II Bl In the compass
of 33 years viz:
from 1717 to 1750 interest
on divers parcels of the
national debt was reduced
from 6 to 3
per Cent SInclair II. 214.
and by the express declarations of the last.+ + 32 G.3.c.55.
The
—
But though considerations of this kind 2
Though the
are not to be hand
by particular or
the
effect on particular
interests to be
kept in view
preparation against
opposition
are incapable of operating in the mind of the legislature as being
sufficient to produce producing a rejection of the measure
they may have their use for the better comprehension
of the nature and consequences of it, and the patrons of the
measure would have
to struggle with.
more especially as prosecuting a view of the obstructers
and groundscauses of opposition which government men would have to
combat in that course of their endeavours to bring it
into effect.