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17
Annuity Notes
Ch. Grounds
III, IV, V Circulation
14
Among at least with those whom
we would pass in the
way of issue, it will
pass still more readily
in the way of circulation.
— by reason of the trouble
and the fees.
It will be received in circulation, at any
rate by all those who if it did not thus
offer present itself to their hands would repair to an go in quest of it
Office to take it out in the way of issue:
it will be received at a price. if though certainly not greater
than the emission price, yet certainly not
less. In the way of circulation, the trouble
of attendance at the office will at any rate be be saved : [+] Re [+] and if it should
it be thought fit
to require a for
from the purchaser
an emission fee,
the fee
The trouble, it is true, will have been rendered as small
as possible: little exceeding that of putting a letter
into the post: but be it ever so small, minute it
will always rate can never fail to be sufficient
to turn the scale.
15.
Hence one issue of
the publication of the
progress of the issue.
Here comes in, as already observed one of the uses proposed
of the regular (perhaps daily) accounts proposed
to be published of the progress of the issue: the
further the issue is seen to advance, the less
the doubt that room for doubt in respect to
the receiving it in the way of circulation.
16
Though in the case
of those whom the replacing
the money
may be indispensable,
the facility of paying taking
this paper depends
upon the assurance
of being able to pass
it on, this will not be
a bar to the taking it
in this instance more
than in that of Exchequer
Bills.
For such time, if any time there be, during
which the assurance certainty of being able to pass
it off in the on occasion in the way of circulation
can remain in suspence, it is not to be
expected that any an individual whose demand
for the value of it in cash threatened to be speedy,
(especially if enforced by obligation) should be ready
to accept it as he would Bank paper. But
that this state of suspense should it ever take place,
can never be of long continuance is proved by
the instance example of Exchequer Bills, and still more
effectually