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2ds 13
Annuity Notes
Ch. Grounds
III.SV.V. Circulation
13
The proposed paper
with paper circulation
with addition
of the growing interest
Principles in proof
1. Exchequer Bill
2 Navy &c Bills
3. Bankers interest
bearing Notes ?
4. Bills of Exchange
Though the papers
have not the benefit
of the Tables
3. 5 4. & 5 It will be received in circulation —
and at the same price at which it emission price — with the addition
of the interest. And as the emission price — without
being subject to depretiation
Admitting the two former propositions, these
three follow on self evident will scarcely appear
exposed to doubt.
That the intervening interest will be allowed
is proved by experience in the instance of Exchequer
Bills — and in the instance of Navy,
Transport, Victualling Bills and Ordnance Debentures.
It is proved moreover in
the instance of Bankers the interest-bearing Notes Enquire
of Country Bankers. It is proved i concurso
in the instance of Bills of Exchange, on which Enquire
as the day of payment approaches the discount is diminished as the day of
payment approaches. — In all these instances
the ascertainment of the quantum of
the interest is matter of calculation: in the
instance of the proposed paper, thanks to the with its Tables
Tables at the back, it is a matter of simple inspection,
performed in less time than in the
case of a guinea or a shilling is employed
in examining into the goodness of the money, in
the case of a guinea or a shilling is employ'd
in examining into the goodness of the coin.