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Another instance<add> | <p>Another instance<add>precedent</add> that may be induced<add>alleged</add><del>as</del><lb/> | ||
affording a presumption that no such low<add>inferior</add> rate<lb/> | affording a presumption that no such low<add>inferior</add> rate<lb/> | ||
of interest as is proposed will be accepted of by the <lb/> | of interest as is proposed will be accepted of by the <lb/> | ||
public in the case of a paper<add>a mass of annuity</add> the | public in the case of a paper<add>a mass of annuity</add> the value of which<lb/> | ||
depends upon its | depends upon its passing in circulation <del>for the</del> <add>at a price</add><lb/> | ||
corresponding to the principal of that rate of interest<lb/> | corresponding to the principal of that rate of interest<lb/> | ||
is that of the existing | is that of the existing species of Government paper<lb/> | ||
called an Exchequer Bill. In the case of<lb/> | |||
the Exchequer Bill true it is (it may be said)<lb/> | |||
that among the persons who < | that among the persons who <unclear>accept</unclear> of these pieces<lb/> | ||
of paper as an equivalent for cash there are<lb/> | of paper as an equivalent for cash there are<lb/> | ||
many to the | many to the state of & whose affairs it may it may be necessary<lb/> | ||
that the cash should <add>corresponding quantity</add>be forthcoming <add>in | that the cash should <add>corresponding quantity</add>be forthcoming <add>in their hands</add> at a<lb/> | ||
period anterior to that at which Government undertakes<lb/> | |||
either to give cash for it or to accept it<lb/> | |||
<foreign>in lieu</foreign> of cash, and whose | <foreign>in lieu</foreign> of cash, and whose reliance <add>dependence</add> therefore as<lb/> | ||
far as the principal <add>sum</add> of the Bill is concerned, is<lb/> | far as the principal <add>sum</add> of the Bill is concerned, is<lb/> | ||
on the market. That is a persons | on the market. That is a persons on whom<lb/> | ||
no obligation to do that which is requisite, | no obligation to do that which is requisite, <unclear>attesting</unclear>.<lb/> | ||
But | But here again behold the consequence<lb/> | ||
This paper Government is unable to circulate<lb/> | This paper Government is unable to circulate<lb/> | ||
at any less interest than 5 1/3 per cent: and <add>yet</add> the<lb/> | at any less interest than 5 <hi rend='superscript'>1</hi>/3 per cent: and <add>yet</add> the<lb/> | ||
proposed new paper is | proposed new paper is expected to be circulated<lb/> | ||
at an interest<add>a rate of</add> | at an interest<add>a rate of</add> scarce so high as 3 per cent!<lb/></p> | ||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}}{{Completed}} | ||
Another instanceprecedent that may be inducedallegedas
affording a presumption that no such lowinferior rate
of interest as is proposed will be accepted of by the
public in the case of a papera mass of annuity the value of which
depends upon its passing in circulation for the at a price
corresponding to the principal of that rate of interest
is that of the existing species of Government paper
called an Exchequer Bill. In the case of
the Exchequer Bill true it is (it may be said)
that among the persons who accept of these pieces
of paper as an equivalent for cash there are
many to the state of & whose affairs it may it may be necessary
that the cash should corresponding quantitybe forthcoming in their hands at a
period anterior to that at which Government undertakes
either to give cash for it or to accept it
in lieu of cash, and whose reliance dependence therefore as
far as the principal sum of the Bill is concerned, is
on the market. That is a persons on whom
no obligation to do that which is requisite, attesting.
But here again behold the consequence
This paper Government is unable to circulate
at any less interest than 5 1/3 per cent: and yet the
proposed new paper is expected to be circulated
at an interesta rate of scarce so high as 3 per cent!
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Identifier: | JB/002/534/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
annuity notes |
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534 |
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001 |
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text sheet |
1 |
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recto |
e5 |
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jeremy bentham |
1798 a<…> |
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frances wright |
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1798 |
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1273 |
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