JB/003/045/002

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Annuity Notes
Grounds – Contents II 28 July 1800

Ch. Grounds

42 See 19
This mode of investment
will not
be rivalled by that
which is offered by

security:
this paper may be
lent for the difference
of interest. p.45.

40
Propensity of the
public to receive
paper money, proved
by examples from
A. Smith & Wild
1. American Wild 4s6
2. Scotland 5s0
3. Yorkshire 6s

41
Calculation of the
amount of Annuity
Note Paper likely
to be issued is
neither practicable
nor necessary. p.46.
Second Taxes.

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Ch. Grounds
VI. Depretiation – Proof

20
Thus property so far
from being essential
to Goverment paper
is unknown to it.
Depretiation is owing
to either
1. Glut – or
2. Apprehension of non-payment.
p.21

21
No engagement yet
known possesses such
security against depretiation
by glut
as it possessed by this.
(See post. p.24.)

22
As to insolvency
this as any other
government engagement
must for its
fulfilment depend
upon the existence of
the government. p.21
and the solvency of the Nation.

23
This paper has less
to apprehend from
insolvency than any
other Government engagement
can have since
1. It gives stability
to the Government
by attaching the
orders It add to the pecuniary
sufficincy,
by buying redeeming
other Government
debt in an equal or
greater amount. p.22

24
3. By promising nothing
but interest as in case of Stock Annuities,
it endangers the punctual solvency
of government
less than where principal
is engaged for.
p.23 th is in Exchequer
Bills &c.

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Ch. Grounds
VI. No Depretiation – Proof

26
Objection – Though
there can be no glut
in circulation so long as the issue
goes on, yet after the
issue has stopped, by the
quantity already issued an increase in the demand for cash
may be caused
to be in such excess
as to be subject to
depretiation. p.25.

27
Answers –
1. Though that were
to be the case, it
would still be more
secure against depretiation
by glut than
any other governmt
engagement. p.25

28
2. No probable case
can be put, in which
such a glut would
tak place.
It will not be received
but because the holder
it is more advantageous to hold
it than cash: and
the same cause
will continue to
the reception
of it. p.26.

29
This paper will be
as good payment for
bullion as for anything
else. p.27

30
The demand for bullion
for exportation
is not likely ever to
be so great as to produce
a demand for
cash to melt. p.27.

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Ch. Grounds
VI. Depretiation – Proof

31
The scarcity of cash
in 1797 was produced
by a variety of causes,
which conjunctly taken
are not likely
to occurr again in
equal force. p.27

31(a)
Reference to Mr Rose's
pamphlet of 1799:
and the Reports of
Dr in
Feby & March 1797.
1. Alarms of invasion.
2. Essential bridling
of Banker's paper
3. Occasional failure
of do
4. Occasional scantiness
of Bank paper
in comparison
of former copiousness.
5. Copiousness of Bank
advances made to
Government: (the
cause of their keeping
their paper scanty).
6. Want (since supplied)
of small
Bank Notes.

32
To produce a discount
upon this paper a
demand for cash
must within a given
time be to a greater amount
than that
of the paper that
but for such demand
would have been
taken out in that
time. p.29.

Ruling such supposed
demand
the issue
can not but go on
to the end –
1. By reason of the
causes of demand
hereinafter explained.
2. By reason of
the progressive
encrease of general
wealth.

Identifier: | JB/003/045/002 "JB/" can not be assigned to a declared number type with value 3.
Date_1	1800-07-28	Marginal Summary Numbering
Box	003	Main Headings	annuity notes
Folio number	045	Info in main headings field	annuity notes
Image	002	Titles	ch. grounds / depretiation / no depretiation / circuln universal
Category	rudiments sheet (brouillon)	Number of Pages	2
Recto/Verso	recto	Page Numbering
Penner	jeremy bentham	Watermarks	am 1798
Marginals		Paper Producer	frances wright
Corrections	jeremy bentham	Paper Produced in Year	1798
Notes public		ID Number	1455
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