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' | <head>Art. 20</head> <p> 13 <note> Annuity Notes</note></p> <p> <note>Comparison between<lb/> the preferred mode<lb/> of reduction, and<lb/> M<hi rend="superscript">r</hi> Pelham's</note> </p> <!-- the first paragraph has been crossed through in pencil --> <p> Now for the <add> parallel </add> comparison. <add> 1. Profit</add> Upon the Pelham plan<lb/> 2 1/2 Millions given to purchase the advantage: upon<lb/> the proposed plan, nothing. Upon the Pelham plan<lb/>2 1/2 upon a Capital of 58 Millions. At the <lb/> same rate what would it cost to reduce the present<lb/> mass of Stock Annuities a <gap/> times? including<lb/> or not including the 4 and 5 per cent, supposing<lb/>them <add> to have been previously</add> reduced <foreign>gratis</foreign> to 3 per Cents.</p><p> 2 Dispatch. On the Pelham plan time employed<lb/> <del> upon the sa</del> in obtaining the consent <add> six months</add> though<lb/> supposing consent necessary, the <add> even that</add> time was not <add> far from being</add> important<lb/> for all purposes. On the proposed plan, no time<lb/> necessary for that purpose. On failure of such consent,<lb/> time of each <gap/> of the moving power,<lb/> one year: on the proposed plan, half an hour.</p> <p> 3. Certainty of success. On the Pelham plan, the <lb/> plan <add> success</add> dependant on the momentary state of the public<lb/> mind: requiring the concurrence and co-operation<lb/> of an immense multitude. On the proposed plan, <lb/> success not dependant on any body: <add> thing</add> no co-operation <lb/> requisite. More or less down <add> Within a given time</add> of course, according <lb/> to the means — according to the quantity of the moving<lb/> power: but a large quantity assured, and with<lb/> the smallest, something <unclear>down</unclear>.</p> <p> Mr Pelham, having <add> no effective sinking Fund already established</add> no money in hand to work<lb/> with, had nothing but borrowed money, money <add> expected to</add> to be borrowed<lb/> for the purpose, to pay with <add> [+]2</add> <note> [+]2 Satisfied with Contract to reduce the interest, he left the capital as he found it.</note> M<hi rend="superscript">r</hi> Pelham having <add> by fourteen years of thrift</add> <lb/> given <add> provided</add> himself <add> with</add> a vast mass of money to work with, reduction<lb/> of interest and redemption of principal will go on at the same<lb/> time; and will be a cause and effect to one another.</p> <p><add> In</add></p> | ||
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Art. 20
13 Annuity Notes
Comparison between
the preferred mode
of reduction, and
Mr Pelham's
Now for the parallel comparison. 1. Profit Upon the Pelham plan
2 1/2 Millions given to purchase the advantage: upon
the proposed plan, nothing. Upon the Pelham plan
2 1/2 upon a Capital of 58 Millions. At the
same rate what would it cost to reduce the present
mass of Stock Annuities a times? including
or not including the 4 and 5 per cent, supposing
them to have been previously reduced gratis to 3 per Cents.
2 Dispatch. On the Pelham plan time employed
upon the sa in obtaining the consent six months though
supposing consent necessary, the even that time was not far from being important
for all purposes. On the proposed plan, no time
necessary for that purpose. On failure of such consent,
time of each of the moving power,
one year: on the proposed plan, half an hour.
3. Certainty of success. On the Pelham plan, the
plan success dependant on the momentary state of the public
mind: requiring the concurrence and co-operation
of an immense multitude. On the proposed plan,
success not dependant on any body: thing no co-operation
requisite. More or less down Within a given time of course, according
to the means — according to the quantity of the moving
power: but a large quantity assured, and with
the smallest, something down.
Mr Pelham, having no effective sinking Fund already established no money in hand to work
with, had nothing but borrowed money, money expected to to be borrowed
for the purpose, to pay with [+]2 [+]2 Satisfied with Contract to reduce the interest, he left the capital as he found it. Mr Pelham having by fourteen years of thrift
given provided himself with a vast mass of money to work with, reduction
of interest and redemption of principal will go on at the same
time; and will be a cause and effect to one another.
In
