JB/116/039/002

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9 Novr 1802 Letter 2 of 3 XVI(3 (3

Not many years ago a private Banking
House opened with the offer of allowing three per
cent to all its customers, on condition that draughts
should not be drawn till after a short interval
(ten days or some such matter) of notice. Money
poured in so fast, (so much faster than it was
possible for the House found it practicable to place
it out to profit in such security as would enable
provide cash at all on demand times in sufficient abundance
to answer the draughts) that in a very
short time the it was found necessary to shut close the
the business door against such customers.

From By this example it appears seems to have been proved that three
per cent
[+] [+] is a rate of interest which a man will be content to take for is a sufficient rate of interest to allow
for a temporary sum, for a sum money, which
it is in the power of the proprietor to feels it in
his power to call in at short warning. But in
the case of the contract transaction above exemplified warning
though however short was stipulated for as indispensable.
whereas in the case of the proposed Annuity Notes
supposing them current no warning at all such thing as any will
be necessary: warning will take place a man will get his in effect
call in his at any time, and without any warning,
so much of his capital (say 60 percent worth as is invested in
Annuity Notes viz: merely either by changing the notes for cash <add>hard cash</add> which by the supposition is to be done at par as new in case of Bank Notes, or by simply disposing
of the notes themselves in the same way as he would
have done if the money cash, if he had changed his
notes.

Identifier: | JB/116/039/002 "JB/" can not be assigned to a declared number type with value 116.
Date_1	1802-11-09	Marginal Summary Numbering	not numbered
Box	116	Main Headings	panopticon versus new south wales
Folio number	039	Info in main headings field	letter 3
Image	002	Titles
Category	collectanea	Number of Pages	1
Recto/Verso	recto	Page Numbering	e3
Penner	jeremy bentham; john herbert koe	Watermarks	tw 1794
Marginals	jeremy bentham	Paper Producer	francis hall
Corrections		Paper Produced in Year	1794
Notes public		ID Number	37572
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