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7
Admitting three per Cent thus to be about the
mark — and if any thing not much below the
mark, there is a particularly reason for fixing
it precisely at this mark: and that is, the consideration
of steadiness: permanency a property upon which
the value of this the proposed issuers of paper [+] with reference to the even security and comfort of the individual proposition in question and consequently to the inducement he has to become a purchaser of it
to the individual purchaser will be found to depend in a
very considerable degree. — Were it ever so little
above three per cent it would always be from
the first be certain of being paid off before any
three per cents were came to be paid off, unless the expedient
were a of an express restriction in that respect
were to be resorted to: an expedient which in when the
terms of it came to be adjusted would in the present instance would be found to be attended with
more embarassment and complication there would might
at first sight be imagined: Three per cent
in a few years after a war, during which so
long as it lasted they stocks kept sinking without ever
rising were very near to par: still more speedily
may they be expected to arrive at this term after
a war in the course very depth of which we have
seen them taking so prodigious a rise.
Fix the rate a at three per cent, the standard
rate for all Government Annuities in general, and
there will be no inducement to Government ever
to pay them off so long as there remain any other
than the preference with regard to continuance.
Annuities bearing an equal rate of interest: which
the superior accommodation afforded by these proposed
Annuities to individuals, will be sufficient to to
them