JB/116/558/002

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5 2d.

Annuity Notes
National Wealth
This twenty millions may therefore be
considered as so much added to the mass of existing
national wealth in the shape of circulating capital — no and perhaps would add
as much to it as so much coin.

But in this case is it to be considered
as being upon the footing of hard cash?
The answer is yes in part but in part
only? The distinction is a material one,
for the difference in point of effect in the of national
wealth is very considerable. So much as stands
altogether upon a footing in point of effect with altogether the same effect as so much hard cash,
will do as much go as far as so much hard cash towards
the augmentation of the mass of national wealth in the
shape of circulating capital which by that
basis it affords promises in the shape for paper money may be reckoned
as worth, to the community ( taken together (though
not to the individual holder) about three times
its nominal amount.

There are two sets of persons in whose
hands it will serve in the stead of so much
hard money: viz: Bankers; and individuals,
such, who, by the profit to be made by the keeping of this
new species of paper money, may be induced to
become constantly or their own Bankers.
And, so much of it as is kept by a Banker
in lieu of a sum of hard money which he would
have thought it necessary to keep otherwise, so much
hard money it sets free to pass from hand to hand serve for
petty disbursements and to constitute a foundation for
paper money

Identifier: | JB/116/558/002 "JB/" can not be assigned to a declared number type with value 116.
Date_1	1802-12-20	Marginal Summary Numbering
Box	116	Main Headings	panopticon versus new south wales
Folio number	558	Info in main headings field	letter 3
Image	002	Titles	note to p. 21
Category	correspondence	Number of Pages	1
Recto/Verso	recto	Page Numbering	f21
Penner	jeremy bentham	Watermarks
Marginals		Paper Producer
Corrections	jeremy bentham	Paper Produced in Year
Notes public	letter was never sent; see note 8 to letter 1747, vol. 7	ID Number	38091
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