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3 Annuity Notes 1
Ch Circulation
indubitable
Objectives
the depreciation experienced by in the marketable amount of the capital or principal
seem in the instance obtainable at market of the existing Stock Annuities
is a result of circumstances causes which ap though applying they
to that existing species have place in the instance of Annuity do not
apply to the species of Annuity proposed: that
[to warrant the asserting pointing to [+]<add> indication [+] the depreciation that has place in the case of Stock Annuities
as affording a prime place ground for inferring a
similar depreciation as likely to take place in the case of the proposed Annuities,
that ] to connect the case of Stock Annuities
into a precedent applicable to this purpose
Stock Annuities might never to have been issued at
any price below the original par price nor to any
individual who had not made previous and spontaneous
and separate applications for that purpose —
and the money raised by the sale of them ought should
not to have been instead of having been spent and applied to the relief
of the public exigencies, to have been constantly applied to
without deviation to the extinction of a pre-existing
mass of annuities bearing on the same fund —
and that if a mere man will to whom no it may be necessary
that he they should have his their money back again
in the shape of capital with will run the risk
of investing it in the purchase of Stock, are seen
flocking in such numbers to the Stock Market for
the purchase of Stock Annuities trusting without any other security for their
reconversion into money when the occasion comes,
than the expectation of making with another
set of purchasers who without any obligation will
be prepared to replace the money by accepting of
the masses of annuity in question in exchange for
it