JB/116/030/001

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14 Oct. 1802 Panopt v. N.S.Wales

Note to p.87.
In the a Report made by the Lords Committeeof his Majestys
Privy Council in 1789 — (a Report which it may be
presumed did not meet with much disagreement on the
part of either Mr Pitt or Mr Rose) the First Lord or the Secretary of the Treasury) in this Report,
as re reported quoted by the late Mr Bryan Edwards in his
History of the West Indies, II. Edwards. p.381, 390. B. VI. Ch. 14. the value of British capital
in that country in those Colonies is estimated all together at £70 million. On the
same reason the "annual mercantile value of the capital per annum" (by
which I suppose take for granted he means the annual value of the produce,)
raised by the employment of that capital) is estimated at no more than £7 million.. According to a of the supposed utility of Colonies (Bryan Edwards) profit made on capital by Colonial employment is but 10 per Cent, which by Bri home employment it is 15 per Cent This according to Mr Edwards estimate: in which if I understand the mode plan of valuation right, the rate assigned is still rather higher than in that of their Lordships.
Save Upon 70 million, 7 million is ten per Cent. In
Mr Pitt and Mr Rose's estimate, made for the purpose of
the Income-tax, 15 per Cent is reckoned upon as the
ordinary rate of profit upon mercantile capital, an estimate
which, in the main, appears to be agreed to used confirmed by Dr Burke. It would be
a problem worthy the ingenuity of those Right Honourable
Gentlemen to shew as by what process "indemnity for
"the past and security for the future" are to be extracted
from the conversion, were it was to general and extension
of a rate of profit paid amounting to 15 per Cent into a
rate of profit amounting to no more than 10 per Cent.
afforded to this bestowed upon this or any other Country,
obtained by engaging its capitalists to accept for their
capital a rate of profit amounting to 15 no more than 15 about 10 per Cent,
in preference to a rate of profit amounting to about
15 per Cent.

Identifier: | JB/116/030/001"JB/" can not be assigned to a declared number type with value 116.
Date_1	1802-10-14	Marginal Summary Numbering
Box	116	Main Headings	panopticon versus new south wales
Folio number	030	Info in main headings field	panopticon v. n. s. wales
Image	001	Titles	note to p. 87
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	f87
Penner	jeremy bentham	Watermarks
Marginals		Paper Producer
Corrections		Paper Produced in Year
Notes public		ID Number	37563
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