JB/003/006/002

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20 Dec 1799
Art. 11

Effect Individuals Borrowing
Period I

Money would then
be more difficult to
borrow than now,
since a man
would be able to make
but 2 percent
and that precarious
more than he would
make to a certainly
without lending.

Effects upon mercantile
dealings
ready money or
bills of exchange.
By giving credit
a man would make only 2 percent
by his forbearance
more
than if he had
sold for ready money

As some will be
out of
the Funds by the
rise of price, no
others will be deterred
from buying in.
These will be driven
either to lend their
money to individuals
(chiefly in trade)
or to embark in
trade themselves.

The latter effect will
take place principally,
the utmost
interest being
now but 2 per cent
to Col IV⊞
⊞Period 1
As there will be
less lending; there
will be less loss.
One reason perhaps
why Bank robberies
have not increased
by the War, the
high price of Stocks
having demonstrated
the lending to individuals.

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Extent Effects Period II

The payment of the
interest on the small
fractional notes, if
paid separately would
be very troublesome,
but before they are
issued in such abundance,
it will be
instructive by experience,
that the
interest will not in
general be demanded.

In as far as people
hoard at compound
interest, the such
hoarding will contribute
in a great
degree to render it
scarcer and scarcer,
as compound interest
can not be made
otherwise.

When the demand
of the small and
temporary annuitants
comes to have
been supplied and
the large and permanent
Annuitants
upon being paid
off involuntarily
buy Annuity notes
immediately upon
the paying off of their
stock,then the currency
receives no
more addition from the
increase of the quantity
of that paper.

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Effects Period III

When the conversion
has been compleated,
as the paying off
plan goes on, the
demand for Anny
note paper for permanent
income will
become greater and
greater, and as it
can only be sub so much as is
employed is taken
out of the currency
the quantity in
currency will thus
grow continually
less and less.

War & Peace

The longer it is
before the forced paying off plan takes
place the longer it
will be before the
augmentation given
to the currency in
circulation will
cease.

But the longer
the forced war continues
and thence
the practice of raising
money, the longer it
will be before the forced
paying of plan
commences

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Effects Period I
War & Peace

commences. Therefore
the longer the war be continued
the greater the quantity
of additional currency
that will be poured
in — which is
just what is desired.
It will add yield most
money when money
is dearest
least, when money
is most plenty.

If the war should
continue so long
that before the
demand of the
transferring and
annuitants is supplied
before 3
per cents have
been raised to near
four so as to bring
Annuity note paper
within the demand
of the large and
permanent Annuitants,
the price
will then slacken,
and what there
is of it going as
in such year
will be no more
than the produce
of the small raising
of the year.

If The quantity of
currency thus added
be equal to
the quantity of
of labour remaining
unemployed,
this is quite
sufficient: all above
would do rather
harm than good,
by the value
of money, that is
raising

Identifier: | JB/003/006/002"JB/" can not be assigned to a declared number type with value 3.
Date_1		Marginal Summary Numbering
Box	003	Main Headings	annuity notes
Folio number	006	Info in main headings field
Image	002	Titles	effects - gen. wealth
Category	rudiments sheet (brouillon)	Number of Pages	1
Recto/Verso	recto	Page Numbering
Penner	jeremy bentham	Watermarks
Marginals		Paper Producer
Corrections		Paper Produced in Year
Notes public		ID Number	19210003
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