JB/003/069/001

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In a year of peace (it being supposed a year actually affording
a surplus to the amount in question) the
mode suited to the might, and naturally would be, resumed: and
then, to the effect produced (as above) by the
appropriation of the attendant annuity resulting from so much perpetual annuity, as above,⊞ ⊞ ( thats rate of interest,
for simplicity of
calculation merely
being supposed the
same as in the year
of War above supposed
War year)
the application of so much money employ'd in towards the
redemption of the capital of the Debt⊞ would be
added the effects further results following, viz:

1. that Quantity struck off from the mass of National
Debt due to individuals – 2,000,000

2. that quantity defalcation from the quantity
of marketable Stock, capable of contributing
to the load on the market &c, as
before – 2,000,000

In a year of war, if one a single million
be but borrowed for the war, neither of the above
effects can, possibly in the nature of things be produced: because, by the
supposition the very sum you pay with one hand
you either have borrowed already, or immediately
after will have to borrow, on that account, with
the other: which, to the amount of that sum, comes
to exactly the same thing, as if you had neither paid
nor borrowed.

One One supposition there is – and but one – on
which in a War Year or other year of deficiency, to
any an amount equal to or exceeding the million it is possible in the nature of things to make a
neat defalcation to the same amount from the mass of
national debt: – and that is, if of the whole amount
of the extra extra demand for that year, after reservation
made of the million, be raised within the year viz by
taxes or otherwise with or without other resources, but without borrowing.

Identifier: | JB/003/069/001 "JB/" can not be assigned to a declared number type with value 3.
Date_1		Marginal Summary Numbering
Box	003	Main Headings	annuity notes
Folio number	069	Info in main headings field
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	f3
Penner	jeremy bentham	Watermarks	<…>m 1798
Marginals		Paper Producer
Corrections		Paper Produced in Year	1798
Notes public		ID Number	1479
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