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8
Annuity Notes
Ch. Circulation
indubitable
Objection
Case of Exchequer Bills
a quantity magnitude which keeps the commodity article out of
the reach not only of the whole body of traders mass of money possessed upon a
small scale and customers for annuities upon
a small scale as already defined, but also of
a very considerable perhaps the most considerable
part of the money art possessed by the class of
possessors of temporary sums, customers for temporary flying
annuities for annuities which under
the assurance of a certain and ready market
further whenever ready the money for them is wanted for them
may be upon a more enlarged scale. To establish
the coincidence in the point of w view, it
would be necessary that the proposed Annuity
Notes should in some lots sums of different magnitudes
the sum of £100 being constituting the least magnitude
instead of being issued in every variety
of magnitude that can be dictated by convenience
in sums commensurate equally within the to the narrowest as well
as to the amplest most ample purses.
5. In the case of the Exchequer Bill, this is but
one market the whole kingdom affords but a single
market at which the article can be purchased — that
market situated of course in the metropolis. Even this
circumstance, trifling inconsiderable in the influence of
it may appear at first sight, may on further consideration
be regarded as having contributing in no small degree
in conjunction with the other causes abovementioned, to narrow
the demand for and circulation of this paper, by confining
it in a manner within the circuit limits of the metropolis. The
post it may be said will convey it all over the Kingdom: and
doubtless does convey it to a certain amount to many different
parts of the Kingdom. But posting in cases of this sort the
difference