JB/002/296/001

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31 Sept. 1800 3 Abstract

Advant.
4
2. It may be made
to promote probity
on the part of Trustees
of all descriptions
Trustees to most
trust money in
Annuity Note paper
immediately as released
- to keep

2. Preservation of probity on the part of Trustees of
all sorts, to whose intentionfunction it belongs to receive money
on account of their principals: - Excecutors and
Administrators - Guardians - Stewards- Assignees of Bankrupts -
Prize Agents - Factors and the like.

It has long been an established practice Already it is, and for several generations has been
the constant practical It is a long established practice of the Court of Chancery to
To cause trust monies, as often as a suitable case presents itself,
to be laid out in the purchase of Government Annuities for the benefit of the principals, in the
purchase of Government Annuitiesis in the Court of Chancery matter of long established: [+] The credit of [+] a practice which,
by anan Act of very that+,
has received express support
from the legislature.Parliament. —
the proposed practice: [+] The credit of new Government Annuities having been
previously established by sufficient experience, let a similar
investment of all trust-monies, as they come in, such paper

from money
and keep
of the day when
raised and
a
Note
with the int
be rendered an a matter of universal<add>general</add> obligation, by an act of + 39 & 40 G.3.c36
1 May 1800
the legislature. - Receipt of it every parcel of money
A trust-Receiptbook to be kept, with a trust-till. In the
Book an entry to be made of each sum received, with
an indipensable statement of the day. The money, if
not received in the shape of Annuity Notes, to be
converted sent to the office on that day or the next into this office
to be convertedchanged into Annuity Notes: [+]2 the day be not entered [+]2 the Notes received
to be entered by their
N<hi rend="superscript">os</hi>:. if
the first day of the year to be presumed: The trust-paper
as received, to be deposited in the trust-till, to save it from interest on them
to be delivered over
subject to the
of of the
to
advantage.
The obligation will
be no but


being mixedconfounded with proper monies. Power to This not
to prevent the disposal of the amount to superior advantage
i:e: at a higher rate of interest than what
is afforded by Annuity Notes, in as far as the nature
of the trial admitts of it.

What is this proposed to be rendered obligatory
for the benefit of the principal, a careful trustee
will do spontaneously, either in for the benefit of the principal
or for his own according to the texture of his [+] 3 for vice instead
of a virtue: a premium
for improbity
in the one situation
as for frugality
in the other. |
Lastly
conscience. Should the legislature fail to take this a precaution thus simple
and unexceptionable be neglected,, the institution of Annuity
Notes will be a premium [+]3if 3 per Cent in the of the
money for improbity on the part of

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