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5
Annuity Notes
Plan
[1] at
1. Constitution.
10
Progress of the issue at first no
Sum but the standard Note with
or without the double & half of it
9 10 That, at the outset, no other Note be issued than the standard
Note with or without the table and the half of it. [1] That by degrees
11
By degrees smaller and smaller
down to the lowest silver Coin
11 That by degrees the series of Notes be extended downwards, each successive Note being
the half of one immediately preceding it, until it has descended to
the level of the lowest price of Silver Coin in common currency
viz — sixpence [2] [2] Reasons
12
The Silver Notes to be distinguished
from the Gold Notes
12. That the Notes having for their respective denominated values
sums not exceeding 5s for the amount of the largest silver
coin in use (viz: 5s) be distinguished may by the appellation of Silver Notes: all above that value being for the same purpose termed Gold Notes. and that to facilitate the separation a corresponding peculiarity of colour be given to the paper of the Gold Notes
13
Also larger and larger
Notes in a Series of
17 Notes with 2
for the
Measure.
[1] Why not before
12
12 13 That moreover, as convenience may suggest, the series be extended ,
[1] reason to a correspondent length or otherwise, upwards; [1] in which case
the whole series will consist of eight nine terms below the standard note
and as many above its it: total of 19; having two for their common
[2] or by two to whole in portion difference [2] values as by the annexed Table. —
14
Annuity Note
to be circulated
at the Government
Offices
1214 That, when the credit of this Paper has been fully established, [1]
and Notes of a magnitude competent to the payment of large sums
have been taken out, and introduced into the circulation, Notes
already taken out by individuals be received ( as Bank Notes are
at present) at the several Government Offices, and reissued from
thence as thence, in the way of circulation, as they would be between individual and individual, charged with the
intervening interest, [2] to as many as choose to act may think
proper to receive them for at that value. — [2] Practicability
1. They would be
received
2. Receive profit
15
[1] Explanative
Power of to Government
to fix the
least sum issuable
at once, and the
composition of it
13 15 That (to save trouble in the issue of the smaller Notes,
especially the [ Silver Notes) [1] Government reserve to itself the
power of fixing the least quantity of Annuity Note Money which
an order to be taken out at a time which an individual
[2] [2] Reason
shall be admitted to take out at once, as also to prescribe the composition
of that quantity, leaving it however to the customer to choose a composition as far as it is a matter of indifference [3] [3] Reasons of doing