★ Keep up to date with the latest news - subscribe to the Transcribe Bentham newsletter; Find a new page to transcribe in our list of Untranscribed Manuscripts
Art. 9.
such papers at any given period in the
character of currency, and is not kept in the
same hands in the character of a permanent sort of
for the purpose of yielding permanent
income, is but does not go to satisfy the demand
for Stock. But (as will be seen presently) whatever
portion of Annuity Note paper is sold at par
while stock is below par and therefore yielding
a higher greater rate of interest, is sold given in exchange
for money that would not otherwise have found
its way to into the Stock market, not being capable
of being invested in the purchase of a permanent
source of income Annuities in the time on which they are it is afforded
by Stock Annuities. And this is the reason why
though in respect of the lightening of the mass tofth of
Annuities the supposed 40 millions will go no
further than the 8 millions above spoken of, yet in
respect to the lightening of the Stock market of the
mass of saleable securities, and thence effecting a proportionable raising the
risen price of those Annuities compared with ready
money, it will operate with the certain effect of the
whole 40 millions. It will operate with that effect
exactly in the same manner as the Stock to purchased
and extinguished with the produce of the
tale of the Land Two had at the time of the
publication of the 6th edition of the Secretary Rose's pamphlet
produced an exoneration in the Stock Market to the
amount of 12,726,000, reckoning it by the amount
of capital 381,804, reckoning it by the
amount p.77of the of Annuity.
