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<head>Art. 5</head> | |||
Annuity Notes | <p>14</p> | ||
<note>Annuity Notes</note> | |||
<note>14 Notes</note> | |||
<note><!-- The following notes appear to be crossed out --> | |||
Plan<lb/> | |||
1. Constitution</note> | |||
< | |||
<note>Art. 5. [1]<lb/> | |||
Not to sell them<lb/> | |||
for less on <gap/><lb/> | |||
stipulation—Not<lb/> | |||
inconvenient while<lb/> | |||
stock may be <del>sold</del><lb/> | |||
<del>at <gap/></del> <add><gap/> to any amount</add><lb/> | |||
and at any price</note> | |||
<note>Stet</note> | |||
<note>Stet</note><!-- Overwritten by note [+] below --> | |||
[ | <p><del>Art. 5. p. 4. ( ) [<hi rend="underline">Never at a less price</hi>] <hi rend="underline">Steadiness of</hi> <gap/><lb/> | ||
<hi rend="underline">price</hi> is a property essential to a good paper currency.<lb/> | |||
People will <gap/> from a species of money the value of<lb/> | |||
which appears liable to <gap/> <add><gap/> money</add> in their hands. Banks<lb/> | |||
proper, though unproductive to <gap/> Holder tax with<lb/> | |||
little from the terms of its <gap/> <gap/> <gap/>, ever-upwards<lb/> | |||
of a century been found possessed with <add>of this property</add> source <gap/> <add>a momentary</add> exception<lb/> | |||
as to time. It has <gap/> <gap/> <gap/> been<lb/> | |||
of | possessed <add><gap/></add> as yet by any Government paper yielding<lb/> | ||
interest. The expedient here proposed promises to be<lb/> | |||
as effectual as it is simple.</del></p> | |||
<p><del>The</del> <add>That which concerns the</add> fixation of the price is the <del>something useful</del> <add>essential article</add><lb/> | |||
<del>and sufficient</del>: the restriction with regard to their making<lb/> | |||
Loans in this shape is <del>rather</del> <del><add>but</add></del> <add>little more than</add> explanatory. If it can<lb/> | |||
never be issued at a less price, other Loans can<lb/> | |||
never by made in it, or <del><gap/></del> if they are, the apprehended<lb/> | |||
mischief <del>do</del> <add>does</add> not ensue, since no depression<lb/> | |||
takes place in regard to the price.</p> | |||
The exigencies of government not being susceptible | <note><add>[+]</add> No Loan can ever<lb/> | ||
of any certain | be made in it at a<lb/> | ||
[+]3 and future money | greater price, so long<lb/> | ||
< | as any of the existing<lb/> | ||
all that it has | Stock Annuities continue<lb/> | ||
to offer for the ready | unredeemed, because<lb/> | ||
money of whic it has | so long as any portion<lb/> | ||
occasion for | of these Annuities continues<lb/> | ||
it would be idle to | unredeemed, the<lb/> | ||
attempt to <gap/> set any bounds to the quantity | issue is by virtue of its<lb/> | ||
of Annuities that shall be created by government | article (Art. 6) to be<lb/> | ||
would be an idle attempt. But so long as any one | kept open, and no man<lb/> | ||
branch of the Annuity market is left open and without conditions, any | will pay £101 for an<lb/> | ||
other may be closed, or | Annuity which he has<lb/> | ||
conditions as | a right to claim for<lb/> | ||
£100.</note> | |||
<p>A stipulation to this effect is not more exposed<lb/> | |||
to evasion, than any other: every advantage whatsoever<lb/> | |||
added to the Annuity, — every thing <del>that</del><lb/> | |||
to which the name of a <hi rend="underline">douceur</hi> or <hi rend="underline">bonus</hi> <add>could be applied</add>, would<lb/> | |||
be an evasion, and such an evasion as could not be<lb/> | |||
concealed. This would not hinder a quantity of the<lb/> | |||
Annuity Note paper itself from being given in the way of a<lb/> | |||
<hi rend="underline">bonus</hi> on a Contract for Stock, if, for the purpose of giving a [+]2</p> | |||
<note><add>[+]2</add> commencement to the<lb/> | |||
currency of it, or for<lb/> | |||
any other purpose, any<lb/> | |||
advantage should present<lb/> | |||
itself as derivable<lb/> | |||
from such a measure.</note> | |||
<p>The exigencies of government not being susceptible<lb/> | |||
of any certain limitation, <add>[+]3</add><lb/> | |||
<note><add>[+]3</add> and future money<lb/> | |||
viz. Annuities being<lb/> | |||
all that it has<lb/> | |||
to offer for the ready<lb/> | |||
money <del>of whic</del> it has<lb/> | |||
occasion for</note><lb/> | |||
<del>it would be idle</del> to<lb/> | |||
attempt to <del><gap/></del> set any bounds to the quantity<lb/> | |||
of Annuities that shall be created by government<lb/> | |||
would be an idle attempt. But so long as any one<lb/> | |||
branch of the Annuity market is left open <add>and without conditions</add>, any<lb/> | |||
other may be closed, or kept open upon any such<lb/> | |||
conditions as may be found advisable.</p> | |||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}}{{Completed}} | ||
Art. 5
14
Annuity Notes
14 Notes
Plan
1. Constitution
Art. 5. [1]
Not to sell them
for less on
stipulation—Not
inconvenient while
stock may be sold
at to any amount
and at any price
Stet
Stet
Art. 5. p. 4. ( ) [Never at a less price] Steadiness of
price is a property essential to a good paper currency.
People will from a species of money the value of
which appears liable to money in their hands. Banks
proper, though unproductive to Holder tax with
little from the terms of its , ever-upwards
of a century been found possessed with of this property source a momentary exception
as to time. It has been
possessed as yet by any Government paper yielding
interest. The expedient here proposed promises to be
as effectual as it is simple.
The That which concerns the fixation of the price is the something useful essential article
and sufficient: the restriction with regard to their making
Loans in this shape is rather but little more than explanatory. If it can
never be issued at a less price, other Loans can
never by made in it, or if they are, the apprehended
mischief do does not ensue, since no depression
takes place in regard to the price.
[+] No Loan can ever
be made in it at a
greater price, so long
as any of the existing
Stock Annuities continue
unredeemed, because
so long as any portion
of these Annuities continues
unredeemed, the
issue is by virtue of its
article (Art. 6) to be
kept open, and no man
will pay £101 for an
Annuity which he has
a right to claim for
£100.
A stipulation to this effect is not more exposed
to evasion, than any other: every advantage whatsoever
added to the Annuity, — every thing that
to which the name of a douceur or bonus could be applied, would
be an evasion, and such an evasion as could not be
concealed. This would not hinder a quantity of the
Annuity Note paper itself from being given in the way of a
bonus on a Contract for Stock, if, for the purpose of giving a [+]2
[+]2 commencement to the
currency of it, or for
any other purpose, any
advantage should present
itself as derivable
from such a measure.
The exigencies of government not being susceptible
of any certain limitation, [+]3
[+]3 and future money
viz. Annuities being
all that it has
to offer for the ready
money of whic it has
occasion for
it would be idle to
attempt to set any bounds to the quantity
of Annuities that shall be created by government
would be an idle attempt. But so long as any one
branch of the Annuity market is left open and without conditions, any
other may be closed, or kept open upon any such
conditions as may be found advisable.
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Identifier: | JB/002/402/001"JB/" can not be assigned to a declared number type with value 2. |
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Not numbered |
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002 |
Annuity Notes |
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402 |
Art. 5 |
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001 |
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Text sheet |
1 |
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Recto"Recto" is not in the list (recto, verso) of allowed values for the "Rectoverso" property. |
A14 / F14 |
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Jeremy Bentham |
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1141 |
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