JB/002/533/001

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To this the answer is that the comparative derivation
of the marketable value of Exchequer Bills is plainly referable
to the conjoint operation of a variety of causes
not one of which is applicable to the proposed paper.

These are -1. What The Annuity to which the Exchequer Bill undertakes conveys
no right to is not a perpetual Annuity, but
an Annuity if such it may be termed lasting at
for a term: subject to frequent uncertainties sometimes for less than one year, never
for more than two years : whereas the annuity
conveyed by a proposed Annuity is an
annuity perpetual in the first instance
only for redemption on repayment of the principal
and that annuity at the same time if the family
of passing in circulation be admitted, convertible by that means
into an Annuity for any shorter period at pleasure.
The Stock Annuities which yield rates
of interest above 3 per Cent, viz. 4 and 8 per
Cent - Stock Annuities of these classes though perpetual unless
redeemed yet by the bare circumstances of being
subject to redemption coupled with the probability
of anterior redemption grounded in the extra rate
of interest are subject to a in the interest degree of depreciation
in the which any body may see in looking at
the prices of Stock as published in the daily papers
the Annuity deemed by an Exchequer Bill is
not an Annuity which instead of being expired
to be paid off at the end of an uncertain number
of years is incapable of lasting for so much
as two years.

Identifier: | JB/002/533/001 "JB/" can not be assigned to a declared number type with value 2.
Date_1		Marginal Summary Numbering
Box	002	Main Headings	annuity notes
Folio number	533	Info in main headings field
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	e6
Penner	jeremy bentham	Watermarks	1798 a<…>
Marginals		Paper Producer	frances wright
Corrections		Paper Produced in Year	1798
Notes public		ID Number	1272
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