JB/002/402/001

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Art. 5

14

Annuity Notes

14 Notes

Plan
1. Constitution

Art. 5. [1]
Not to sell them
for less on
stipulation—Not
inconvenient while
stock may be sold
at to any amount
and at any price

Stet

Stet

Art. 5. p. 4. ( ) [Never at a less price] Steadiness of
price is a property essential to a good paper currency.
People will from a species of money the value of
which appears liable to money in their hands. Banks
proper, though unproductive to Holder tax with
little from the terms of its , ever-upwards
of a century been found possessed with of this property source a momentary exception
as to time. It has been
possessed as yet by any Government paper yielding
interest. The expedient here proposed promises to be
as effectual as it is simple.

The That which concerns the fixation of the price is the something useful essential article
and sufficient: the restriction with regard to their making
Loans in this shape is rather but little more than explanatory. If it can
never be issued at a less price, other Loans can
never by made in it, or if they are, the apprehended
mischief do does not ensue, since no depression
takes place in regard to the price.

[+] No Loan can ever
be made in it at a
greater price, so long
as any of the existing
Stock Annuities continue
unredeemed, because
so long as any portion
of these Annuities continues
unredeemed, the
issue is by virtue of its
article (Art. 6) to be
kept open, and no man
will pay £101 for an
Annuity which he has
a right to claim for
£100.

A stipulation to this effect is not more exposed
to evasion, than any other: every advantage whatsoever
added to the Annuity, — every thing that
to which the name of a douceur or bonus could be applied, would
be an evasion, and such an evasion as could not be
concealed. This would not hinder a quantity of the
Annuity Note paper itself from being given in the way of a
bonus on a Contract for Stock, if, for the purpose of giving a [+]2

[+]2 commencement to the
currency of it, or for
any other purpose, any
advantage should present
itself as derivable
from such a measure.

The exigencies of government not being susceptible
of any certain limitation, [+]3
[+]3 and future money
viz. Annuities being
all that it has
to offer for the ready
money of whic it has
occasion for
it would be idle to
attempt to set any bounds to the quantity
of Annuities that shall be created by government
would be an idle attempt. But so long as any one
branch of the Annuity market is left open and without conditions, any
other may be closed, or kept open upon any such
conditions as may be found advisable.

Identifier: | JB/002/402/001 "JB/" can not be assigned to a declared number type with value 2.
Date_1		Marginal Summary Numbering	Not numbered
Box	002	Main Headings	Annuity Notes
Folio number	402	Info in main headings field	Art. 5
Image	001	Titles
Category	Text sheet	Number of Pages	1
Recto/Verso	"Recto" is not in the list (recto, verso) of allowed values for the "Rectoverso" property.	Page Numbering	A14 / F14
Penner	Jeremy Bentham	Watermarks
Marginals	Jeremy Bentham	Paper Producer
Corrections		Paper Produced in Year
Notes public		ID Number	1141
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