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Art.17.
Notes
Annuity Notes
Ch Plan
1 Creations
[10] continued
The payment of
those few can not
be made dependent
on the condition
of the note in
respect of wear
and tear
To say that the obligation of exchanging
shouldshall not attach but in the case where
note in question is too much worn or defaced
to pass in circulation, would not mind the
matter in the smallest degree: The the question
whether sufficiently defaced or not would
be a source of disputes altogether determinable:
and a note rejected one day for not being sufficiently
defaced, would come back the next
day with the deficiency supplied.
The Bank, it may be objected submitts Though The Bank
requires no fee
thebut case does not
apply
to the obligation gratis: and no inconvenience
has ever resulted from it in practice. True:
but there is no parallelism between the two cases,
The lowest Bank Note is forty times the value
of the what is proposed for the lowest note
of the proposed currency. But a man desirous
answer is this. [+] In the Bank currency the [+] The difference
between the two
currencies in this
respect is grounded
on the difference
between the two
engagements,
principal
in interest is given and the principal
is made payable on demand: that is in other words, the
Holder has a right to demand cash for it.
But when cash is demanded for a note, it is
then for the advantage the interest of the Bank more than that of the
individual to give another note for the cash.
The obligation of changing paper for paper springs
out of the obligation of changing paper for cash
and is inseparable from it.
Identifier: | JB/002/443/001 "JB/" can not be assigned to a declared number type with value 2.
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[[marginal_summary_numbering::[10] continued]] |
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002 |
annuity notes |
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443 |
art. 17 |
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001 |
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text sheet |
1 |
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recto |
f46 |
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jeremy bentham |
<…>m 1798 |
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frances wright |
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1798 |
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1182 |
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