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Annuity Notes Plan Annot. 11. Sale in hand Agent's Pay
if any thing be allowed to the Agent of
Government, it must be allowed paid by Government
Nor can does such a sum as a penny appear
liable to be too much: for although although
between a penny and nothing there are three
different sums, viz: threefarthings, a half penny
and a farthing — yet within such limits
there does not appear to be room for an
agio to establish itself.
On the other hand, if the Office price (the
price they were sold at id for the proposed Offices
was lower than the par price as indicated
by the Table, nobody would care to receive the
notes in circulation, every body who wanted a
note would be going for it to an Office. By
this means the circulation would be in a
considerable degree checked — the market would not be
completely open to any but the possessors shut in a certain degree against the possessors
of temporary sums — it would be open and one
agio viz: a discount would establish itself
upon notes offered in circulation — a discount
to mark the amount of the difference thus
supposed to be attempted to be established between
the Par or circulation price and the Office
price.
