JB/003/039/002

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Annuity Notes
Extract 2d Contents I. 19 Decr 1799

1
The eventual
extent of this currency
appears to
a first view infinite.
p. 1.

2
Effects produced
by an assumed
sum of £
raised by the Sale
of Annuity Note
paper and applied
to the buying
in of Stock
at assumed prices.
p. 2, 3.

N.B. or 3(a) See 35
The effect on the
quantity of Stock
capable of being
brought to market
so as to keep down
the price of Stock
will be, at first,
as if the whole
mass of Annuity
were extinguished
instead of its being
in part only
transformed: – i:e:
which the quantity
sold has not exceeded
the demand
afforded by the possessors
of smaller
temporary sums.
p. 3(a)

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3(b)
So long as a certain
portion of each
parcel of the money thus paid to
Stockholders for their
Stock finds its way
to the Annuity Note
market by a certain
time, it matters
not how many
hands it has passed
through within that
time, nor whether
they are all thrifty,
of some of them
dissipating. p. 3.

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3
Of the money thus
paid to Stockholders
a part (say a
half) will go back
to the Annuity Note
market in the course
of the first week:
viz. such part as
finds its way into within
the week into hands
that can keep it
long enough to make
it worthwhile to
send to the Post Office
for the interest. p.4.

4
The like course may
be expected to be taken
with the produce
of each days
purchase of Stock
made with money
raised by sale of
Annuity Notes. p.4

5
– So likewise with
the whole stock
of cash in the
country – inasmuch
as whatever
part of his cash money
a man can keep
by him for a
week or so, it will
be worth his while
to send to the Annuity
Note market
to make interest
of it. p.5.
Add here Stock
Dividend money.

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6
A certain portion
of the specie of
the country will may
thus is employed
(say 1/4 £10,000,000)
in performing an
incessant course of
vibrations between
the Annuity Note
market and the
Stock market: – taking
out of the Stock
market more than the
£10,000,00 (so long
as 3 per Cents are
under par) at each
vibration. p.6

6(a)
Supposed Component parts of
the existing currency
Cash (Gold) 40,000,000
Bank paper 10,000,00
Bankers do 19,000,000
£60,000,000

7
The proportion thus
employed will of
course consist of
different prices
at each vibration,
but will not on
that account be
the less. p. 7.

Identifier: | JB/003/039/002 "JB/" can not be assigned to a declared number type with value 3.
Date_1	1799-12-19	Marginal Summary Numbering
Box	003	Main Headings	annuity notes
Folio number	039	Info in main headings field	annuity notes
Image	002	Titles
Category	rudiments sheet (brouillon)	Number of Pages	2
Recto/Verso	recto	Page Numbering
Penner	jeremy bentham	Watermarks	i taylor
Marginals		Paper Producer	evan nepean
Corrections	jeremy bentham	Paper Produced in Year
Notes public		ID Number	1449
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