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<head>9 <note>Annuity Notes</note></head><!-- both heading and note in pencil --> | <head>9 <note>Annuity Notes</note></head><!-- both heading and note in pencil --> | ||
<p><!-- indented --><note>Ch. 8 Period I</note><!-- in pencil --> <note>5. Exchequer N. Bill 21 For the quantum reference to <del>Period III</del> Ch | <p><!-- indented --><note>Ch. 8 Period I</note><!-- in pencil --> <note>5. Exchequer N. Bill 21 For the quantum reference to <del>Period III</del> Ch. War Period </note><!-- note in pencil --> As to the absolute quantum of profit in this head | ||
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that will of course depend<del>ant</del> on the quantity <add>amount</add> of | that will of course depend<del>ant</del> on the quantity <add>amount</add> of | ||
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Exchequer Bill paper issued within the time : a | Exchequer Bill paper issued within the time: a | ||
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quantity in regard to which <del>it can hardly be | quantity in regard to which <del>it can hardly be | ||
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of any use that</del> any calculations or <del>passio</del> <add>conjectures</add> that | of any use that</del> any calculations or <del>passio</del> <add>conjectures</add> that | ||
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could be given here would be of little use . | could be given here would be of little use. | ||
<lb/></p> | <lb/></p> | ||
<!-- horizontal line --><!-- in pencil --> | <!-- horizontal line --><!-- in pencil --> | ||
<head>Note</head><!-- written in pencil, and right of centre --> | <head>Note</head><!-- written in pencil, and right of centre --> | ||
<p><add>(a)</add><!-- '(a)' written in pencil --> In regard to Navy Bills , and the other | <p><add>(a)</add><!-- '(a)' written in pencil --> In regard to Navy Bills, and the other | ||
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Government papers of that class nothing particular | Government papers of that class nothing particular | ||
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need be said : being <add>paper of this class,</add> since the recent improvement | need be said: being <add>paper of this class,</add> since the recent improvement | ||
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<del>brought to</del> <add>placed in</add> <del>a</del> footing so little different in this | <del>brought to</del> <add>placed in</add> <del>a</del> footing so little different in this | ||
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respect from Exchequer Bills , the <add>rate of</add> profit may <add | respect from Exchequer Bills, the <add>rate of</add> profit may <add>causes | ||
<lb/> | <lb/> | ||
to be an object</add><!-- added in pencil --> be taken for the same . | to be an object</add><!-- added in pencil --> be taken for the same. | ||
<lb/></p> | <lb/></p> | ||
<p><!-- indented -->Peace and war will however <del>b</del> make this | <p><!-- indented -->Peace and war will however <del>b</del> make this | ||
<lb/> | <lb/> | ||
difference . When war ceases <add>and the War-accounts are wound up</add> the issue of Navy | difference. When war ceases <add>and the War-accounts are wound up</add> the issue of Navy | ||
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Bills ceases <add>will cease<del>s</del> : while</add> : that of Exchequer Bills , if the | Bills ceases <add>will cease<del>s</del>: while</add>: that of Exchequer Bills, if the | ||
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old established practice under this head should | old established practice under this head should | ||
<lb/> | <lb/> | ||
be persevered in , will <add>continue</add> in regard to a certain | be persevered in, will <add>continue</add> in regard to a certain | ||
<lb/> | <lb/> | ||
sum , which will <add>however</add> be growing less and less every | sum, which will <add>however</add> be growing less and less every | ||
<lb/> | <lb/> | ||
day as the <del>sale of</del> <add><del>quantity</del> <add>amount of</add></add> the Land tax <del><gap/></del> taken | day as the <del>sale of</del> <add><del>quantity</del> <add>amount of</add></add> the Land tax <del><gap/></del> taken | ||
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out of the hands of government by sale , <sic>encreases</sic> . | out of the hands of government by sale, <sic>encreases</sic>. | ||
<lb/></p> | <lb/></p> | ||
<p><!-- indented -->This being the case , upon the above-made supposition | <p><!-- indented -->This being the case, upon the above-made supposition | ||
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that this first period consists of an equal | that this first period consists of an equal | ||
<lb/> | <lb/> | ||
portion of years of war and years of peace , the | portion of years of war and years of peace, the | ||
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<add>assumed</add> rate of profit upon the whole period taken together | <add>assumed</add> rate of profit upon the whole period taken together | ||
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in the case of Exchequer Bills — because being the | in the case of Exchequer Bills — because being the | ||
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same as in Exchequer Bills , it continues to | same as in Exchequer Bills, it continues to | ||
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be reaped <add>for</add | be reaped <add>for</add> — no more than half the time. | ||
<lb/></p> | <lb/></p> | ||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}}{{Completed}} | ||
23
9 Annuity Notes
Ch. 8 Period I 5. Exchequer N. Bill 21 For the quantum reference to Period III Ch. War Period As to the absolute quantum of profit in this head
that will of course dependant on the quantity amount of
Exchequer Bill paper issued within the time: a
quantity in regard to which it can hardly be
of any use that any calculations or passio conjectures that
could be given here would be of little use.
Note
(a) In regard to Navy Bills, and the other
Government papers of that class nothing particular
need be said: being paper of this class, since the recent improvement
brought to placed in a footing so little different in this
respect from Exchequer Bills, the rate of profit may causes
to be an object be taken for the same.
Peace and war will however b make this
difference. When war ceases and the War-accounts are wound up the issue of Navy
Bills ceases will ceases: while: that of Exchequer Bills, if the
old established practice under this head should
be persevered in, will continue in regard to a certain
sum, which will however be growing less and less every
day as the sale of quantity <add>amount of</add> the Land tax taken
out of the hands of government by sale, encreases.
This being the case, upon the above-made supposition
that this first period consists of an equal
portion of years of war and years of peace, the
assumed rate of profit upon the whole period taken together
will be to be reduced to half that which is assumed
in the case of Exchequer Bills — because being the
same as in Exchequer Bills, it continues to
be reaped for — no more than half the time.
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annuity notes |
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jeremy bentham |
1798 a<…> |
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frances wright |
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1798 |
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