JB/003/021/002

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Ch. Effects
Period III

1
From the commencement
of this period
the paper of the first
emission will bear a
premium. p. 1

2
The higher, the
higher the class on
the list of subscribing
classes. p. 1

3
The lower, as Period
IV approaches

4
The current mass
of Anny Note paper
being henceforward
continually impounded and aggregated
to the Stagnant
mass, Bank and
Banker's paper will
in propert if before
checked, will in proportion
be reintroduced. p.2. – would
be, were it not for the
2d emission. See 7.

5
The extra-influx
of wealth and enhancement
of prices will would now cease so were
it not for the 2d issue far as depended
upon the influx of
currency produced
by the emission of
Note Annuity Paper. p. 2

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Ch. Effects
Period III

6
Four classes of customers
for paper of the
2d or reduced issue.
1. Flying Annuities
a 2d
2. Annuities paid
off from the first issue.
3. Spontaneous Emigrants
from the first
to the 2d, for the sake
of respite from a 33.
This will depend on the
opinion of the probable duration of the 2d
4. Maiden Annuitants
Customers coming in
for Annuity Notes
to yield permanent income
now for the
first time.

7
The paper of the
2d issue will be
seized with avidity
by the Flying Annuitants
discharged
out of the first issue. p. 4.

8
It will be gradually
taken out of their
hands & impounded by the Hoarding
Annuitants of
the 2d issue. p. 4

9
Each succeeding purchaser is
an enemy of every
preceding one, of the
preceding issue. p. 5

10
– or of the same
issue. p. 5.

11
The opposition of interests
is irreconcilable. p. 5.

12
Thence the plan is
incapable of being
defeated by whatsoever combination.
p. 5.

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Ch. Effects
Period III

13
On the introduction
of the paper of the
2d emission, the
addition to the mass
of currency will commence take
place anew, by the
portion taken out
and kept in circulation
by Flying Annuitants. p. 6.

14
As this second extra-influx
spreads, the
several symptoms of
Plethora produced by
Period I will reappear. p. 6
1. Encrease of of labour
2. Encrease of price of land
3. Do of labour.

15
The rate of interest
One of the effects of the
measure will be to
render it morally impossible
for the rate
of interest ever to rise
again. p. 7.
For

16
For, it is never raised
anywhere but
by money borrowed
by Government. p. 7.

17
It will not now be
ever raised again on
the money borrowed
by Government. p. 8

18
The continuance of
the Income Tax as a War-Tax is enough
to prevent the annal
extra secured for money
for war purposes
from being ever equal
to the annual demand
for Governmt
Annuities for the purpose
if income
even permanent: much
more
when temporary income
is added to the
account. p. 8, 9.

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The additions made
to capital by reduction
of interest
will be made at
the expence of future
income – i:e: 7/8
ay the expence of
future expenditure.

Identifier: | JB/003/021/002 "JB/" can not be assigned to a declared number type with value 3.
Date_1	1800-07-08	Marginal Summary Numbering
Box	003	Main Headings	annuity notes
Folio number	021	Info in main headings field	annuity notes
Image	002	Titles	ch. effects
Category	rudiments sheet (brouillon)	Number of Pages	2
Recto/Verso	recto	Page Numbering
Penner	jeremy bentham	Watermarks	1798 am
Marginals		Paper Producer
Corrections	jeremy bentham	Paper Produced in Year	1798
Notes public		ID Number	1431
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