★ 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
10
In this conversion
the reduction of 4
& 5 per Cents to 3 per Cent is
included
A circumstance obvious enough, and yet too
important to pass over in silence, is — that
in the conversion to here in question will be included
of course and without any particular steps to be
taken for the purpose, the a reduction of the
two existing rates extra rates of interest to the standard
rate — the reduction of 4 and 5 per Cents, to
3 per Cents. The capitals attended with these
extra rates of 4 and 5 per cent interest will in as far as the terms
of the respective loans admitt be of course redeemed
before any portion of that capital which has carries
no more than the standard 3 per Cent, the rate. The amount of this
partial, collateral and as it were indirect reduction
will go nearly a near to equal, as we shall see
the amount of the first celebrated reduction, as called the reduction
that was affected in Mr Pelham's time.
Precise Amount £
deducting the amount
of purchases redemption
in the buying in place
already made, and which
together with such other
as by that time shall
have been made. But
for the calculation, see
a subsequent Chapter.
+ Chapt.
Besides this collateral but though large reduction,
the conversion will be accompanied by another reduction, which through universal in its extent, but is
much comparatively very private in its relative amount
[will be effected to at the same time in the same mode and
by the same means] the conversion of a Capital yielding the Stock Capitals which<add>
<add> yield the 3 per Cent precisely, into the Annuity Note
Capital which yields a sum wanting unavoidably Also of £3 per cents, to £3 minus 7d
different to the amount of inferior to that amount by 7d in every £ 3£ of interest
in every £100 of capital. Even from this amount and
fractional interest difference a profit will arise in
the way by reduction of interest a quantity to the corresponding to a
mass of above 4 million worth of capital, as will be stated
in its plan. || || Chapt.