JB/003/394/001

Click Here To Edit

24 July 1801
Annuity Notes

Observations continued.

"I however admitt" (continues the learned
Baronet) "for" (says he) – I have long ago made the remark
"that a market for yielding a reduced
"rate of interest to small hoards (now
"lying unproductive, exposed to temptations of
"the worst kind, and not forming like Stock
"a of attachment to the State, is a grand
"desideratum.

"With a view to remedy this inconvenience in
"some degree in the metropolis, or rather to
"ascertain whether the lower classes would deem
"3 per cent good interest for their hoards deposited
"on good security, and likewise to induce them
"to form funds for the purchase of widowhood, and
"other Annuities, more particularly suited to
"their exigencies, I inserted a clause in the
"Globe Act, to authorize the proposed Establishment
"to receive deposits, not payable at a less period than
"six months, and to allow interest on them. If it is
"meant that the charter shall be granted the experiment
"may be fairly tried at our cost: and means may be provided that, if it is
eventually successful,
Government may participate in its success."

Counter-Observations

With reference to the Annuity Note proposed Government plan, those
admissions in regard respecting relation to the Globe Insurance
plan, proposed on private account, are certainly not
without their value.

What is to become of the "ewes and lambs"
now, and of the project "for making money
"breed in a drawer? – The securities given
by the Globe Insurance Company to their depositing customers the petty hoarders
that deposit money with them, are to breed 3 per cent that
the

Identifier: | JB/003/394/001 "JB/" can not be assigned to a declared number type with value 3.
Date_1	1801-07-24	Marginal Summary Numbering
Box	003	Main Headings	annuity notes
Folio number	394	Info in main headings field	annuity notes
Image	001	Titles	observations continued / counter-observations
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	f31
Penner	jeremy bentham	Watermarks
Marginals		Paper Producer
Corrections	jeremy bentham	Paper Produced in Year
Notes public		ID Number	1804
Box Contents