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<head>23 Sept - 1800<!-- date written in pencil --> +<!-- written in pencil --> 190</head> | |||
<head>Annuity Notes Abstract</head><!-- written in pencil --> | |||
<note>Ch XV. Pelham <gap/><!-- 2 words written in pencil --></note> | |||
<p>This £2,166,178 [thus paid for a consent to the reduction ]<!-- opening and closing brackets written in pencil --> | |||
<p> | |||
<lb/> | <lb/> | ||
amounts to a | amounts to a little more than 1/27<hi rend='superscript'>th</hi> of the amount of the | ||
<lb/> | <lb/> | ||
capital of £57,703,495 , upon which the reduction | capital of £57,703,495, upon which the reduction | ||
<lb/> | <lb/> | ||
of the 4 per Cent per annum to 3 per Cent was thus | of the 4 per Cent per annum to 3 per Cent was thus | ||
<lb/> | <lb/> | ||
effected : a little less than <add>£2,300,136 which would be the exact amount of</add> <del>£2,308,136 | effected: a little less than <add>£2,300,136 which would be the exact amount of</add> 4 years purchase<hi rend='superscript'>+</hi> <note><del>£2,308,136.</del></note><lb/> | ||
of the perpetual annuity thus struck off. Such | |||
<lb/> | <lb/> | ||
then is the prior <del>given</del> that , on Mr Pelham's plan , would | then is the prior <del>given</del> that, on Mr Pelham's plan, would | ||
<lb/> | <lb/> | ||
be to be given , for a consent , which upon the proposed | be to be given, for a consent, which upon the proposed | ||
<lb/> | <lb/> | ||
plan , would be obtained | plan, would be obtained <foreign><hi rend='underline'>grati</hi>s</foreign>.</p> | ||
<p><!-- indent -->On the proposed plan , the | <p><!-- indent -->On the proposed plan, the quantum of interest that | ||
<lb/> | <lb/> | ||
would be struck off by the first reduction ; (<del>viz:</del> <add>meaning</add> the redirection | would be struck off by the first reduction; (<del>viz:</del> <add>meaning</add> the redirection | ||
<lb/> | <lb/> | ||
effected in the course of the two first Periods , | effected in the course of the two first Periods, | ||
<lb/> | <lb/> | ||
by conversion of 4 and 5 <add>and 3</add> per Cents <add><del>and</del></add> <del>after some 3 | by conversion of 4 and 5 <add>and 3</add> per Cents <add><del>and</del></add> <del>after some 3 | ||
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<del>£1,438,500 - <add>(a<!-- a, in pencil -->)</add> £1,440,250 -</del> — — — — — £1,212,608 <add><del><gap/></del></add> | <del>£1,438,500 - <add>(a<!-- a, in pencil -->)</add> £1,440,250 -</del> — — — — — £1,212,608 <add><del><gap/></del></add> | ||
<lb/> | <lb/> | ||
That , upon any proposed reduction , to be effected at | That, upon any proposed reduction, to be effected at | ||
<lb/> | <lb/> | ||
<hi rend='underline'>this</hi> time of day , the <del>prins</del> <add> | <hi rend='underline'>this</hi> time of day, the <del>prins</del> <add>same</add> terms <add>precisely</add> should be offered, | ||
<lb/> | <lb/> | ||
as were offered at <hi rend='underline'>that</hi> time of day , would , under the | as were offered at <hi rend='underline'>that</hi> time of day, would, under the | ||
<lb/> | <lb/> | ||
vast difference of circumstances be a supposition altogether | vast difference of circumstances be a supposition altogether | ||
<lb/> | <lb/> | ||
untenable: but, as it would be a fruitless attempt | |||
<lb/> | |||
to <del><gap/></del> <add>determine</add> what <hi rend='underline'>would be</hi> the terms now offered, | |||
<lb/> | |||
the only terms in which any argument can be grounded | |||
<lb/> | <lb/> | ||
are the above.</p> | |||
<p>On the supposition, the price to be paid for <del>the reduction | |||
<lb/> | |||
of</del> a consent to the striking off <add>a mass of perpetual Annuities to the above amount of</add> <del>the above mass of a</del> | |||
<lb/> | |||
<!-- NB: I have left a space between the original numbers (which haven't subsequently been amended/overwritten, and those that were written over the original (as having '4s' both sides of the deleted numbers makes it difficult to read on the saved page, due the '4s' having a horizontal bar at the same point as the deleted text). Amend as necessary -->£1,4 <del>3<unclear>5</unclear>,000</del> 40,259 a year, <del>in (Annuities</del> would be a little | |||
<lb/> | |||
less than 4 times <hi rend='underline'>that</hi> sum: <add>— it would be £5,406,713: (a)</add><!-- the '(a)' has been written over the mdash, and written in red, though I have written the '(a)' as inserted before the mdash, because the mdash hasn't been deleted as such -->— <add>exactly four times would be</add><!-- added at the end of the sentence, and runs into the right margin --> <del>that or a little less than</del> | |||
<lb/> | |||
£5,744,000. <add><del>(a)<!-- '(a)' written in red --></del></add> <add>though</add></p> | |||
<!-- horizontal line --> | |||
<head>Note (a) in and to p. 190</head><!-- starts at roughly the centre of the page, and written in red --> | |||
<p>(a)<!-- '(a)' written in red --> <del>£2 £</del> As £577,034 is to £2,166,178, so is £1,440,259 | |||
<lb/> | |||
to £5,406,713. <add>End of the Note</add><!-- addition in red --></p> | |||
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23 Sept - 1800 + 190 Annuity Notes Abstract
Ch XV. Pelham
This £2,166,178 [thus paid for a consent to the reduction ]
amounts to a little more than 1/27th of the amount of the
capital of £57,703,495, upon which the reduction
of the 4 per Cent per annum to 3 per Cent was thus
effected: a little less than £2,300,136 which would be the exact amount of 4 years purchase+ £2,308,136.
of the perpetual annuity thus struck off. Such
then is the prior given that, on Mr Pelham's plan, would
be to be given, for a consent, which upon the proposed
plan, would be obtained gratis.
On the proposed plan, the quantum of interest that
would be struck off by the first reduction; (viz: meaning the redirection
effected in the course of the two first Periods,
by conversion of 4 and 5 and 3 per Cents and after some 3
per Cent into Capitals bearing £2:19:0 per Cent)
by means of the paper of the first issue, would be +
£1,438,500 - (a) £1,440,250 - — — — — — £1,212,608
That, upon any proposed reduction, to be effected at
this time of day, the prins same terms precisely should be offered,
as were offered at that time of day, would, under the
vast difference of circumstances be a supposition altogether
untenable: but, as it would be a fruitless attempt
to determine what would be the terms now offered,
the only terms in which any argument can be grounded
are the above.
On the supposition, the price to be paid for the reduction
of a consent to the striking off a mass of perpetual Annuities to the above amount of the above mass of a
£1,4 35,000 40,259 a year, in (Annuities would be a little
less than 4 times that sum: — it would be £5,406,713: (a)— exactly four times would be that or a little less than
£5,744,000. (a) though
Note (a) in and to p. 190
(a) £2 £ As £577,034 is to £2,166,178, so is £1,440,259
to £5,406,713. End of the Note
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Identifier: | JB/002/286/001"JB/" can not be assigned to a declared number type with value 2. |
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1800-09-23 |
3 |
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002 |
Annuity Notes |
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286 |
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001 |
Note (a) in and to p. 190 |
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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. |
F190 |
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Jeremy Bentham |
<…>M 1798 |
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Frances Wright |
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1798 |
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1025 |
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