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31 Aug. 1800
So much of the mass of Annuities as is converted from the shape of Stock
into the shape of Note Annuities, so much I
reckon make no scruple of reckoning as annihilated, in relation with reference to any addition
it can make to the load of this commodity in
the market. No addition can be made to this
load by such part as is purchased by the customers
for permanent income upon a the small scale:
because whatever is purchased with money so circumstanced,
does not at present find its way into the Stock market at
present, being excluded from it by the causes that
have been mentioned. No addition can be made
to the loan in question by such part as comes
into the hands of customers for temporary income
upon any scale, large or small, because again in this case too whatever
is purchased with money so circumstanced, is
purchased which with money, which⊞ ⊞ which by the very of other causes supposition stands excluded from that market by the operation of other causes. would not have found would not neither
does nor ever can find its way into the Stock market in
question. While the interest on Note Annuities
is so much inferior to the interest on Stock Annuities
no money can be employed in the invested in
Note Annuities which had it not been for those
Annuities would have been invested in the Funds,
could would have been brought into the Stock market,
and have been invested in the Funds.
Good it is, that Towards the close of this first period, money True
which was destined for the purchase of permanent
income on a large scale – money which had it not
been for the creation of opening of the market for those Note Annuities might and
would have been taken to the existing market for Stock
Annuities, will be apt to hesitate and vibrate between the two:
but by this time
the advantages incident
to this first
period will have been
produced, and any
influx of money into
the Note An
Identifier: | JB/003/098/002 "JB/" can not be assigned to a declared number type with value 3.
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1800-08-31 |
2 |
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003 |
annuity notes |
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098 |
note annuity notes |
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002 |
note |
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text sheet |
1 |
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verso |
d7 / e26* |
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jeremy bentham |
<…>m 1798 |
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1798 |
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192100012 |
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