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<p><!-- pencil -->6 Aug. 1801</p>
''This Page Has Not Been Transcribed Yet''
<p><head><!-- pencil -->Note to p. 9</head></p>
 
<p><hi rend="superscript"><!-- pencil -->(a)</hi>  During the <del>term</del> period <hi rend="underline">previous</hi> to the commencement<lb/>
 
of the <hi rend="underline">conversion</hi>, the <del>profit quantity</del> <add>amount</add><lb/>
 
of the <hi rend="underline">profit</hi> made by the Annuity Note<lb/>
plan, will <add>indeed</add> depend upon the quantity of <add>fresh</add> money<lb/>
brought in to the Government Annuity market<lb/>
for the purchase of those Note Annuities.  The<lb/>
price of Stock Annuities purchased with such
money, being given, the amount of the profit<lb/>
will be in equal proportion to the quantity of<lb/>
fresh money so imported.  But <hi rend="underline">during the<lb/>
conversion</hi>, the <add>amount of</add> profit will <hi rend="underline">not</hi> depend upon<lb/>
<del><gap/></del> <add>the</add> quantity of such fresh imported money in<lb/>
any degree, <del>no</del> <add>any</add> otherwise than in as far<lb/>
as the conversion of the higher rates of interest<lb/>
into the lowest rate is accelerated by that<lb/>
means:  and if the whole conversion should be<lb/>
effected at once, by subscription, (as explained<lb/>
in the note to Art. 20) then, there being<lb/>
no room for such acceleration, no fresh profit<lb/>
can be derived on that account from this source.<lb/>
The only profit, produced <add>in this case</add> by such fresh money,<lb/>
will be that which depends on the acceleration<lb/>
<add>of the arrival of the respective periods</add> of the subsequent reductions, from £2:19s to<lb/>
£2.7,5d per Cent, and so on, by so many<lb/>
successive issues.</p>
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Latest revision as of 09:57, 1 July 2024

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6 Aug. 1801

Note to p. 9

(a) During the term period previous to the commencement
of the conversion, the profit quantity amount
of the profit made by the Annuity Note
plan, will indeed depend upon the quantity of fresh money
brought in to the Government Annuity market
for the purchase of those Note Annuities. The
price of Stock Annuities purchased with such money, being given, the amount of the profit
will be in equal proportion to the quantity of
fresh money so imported. But during the
conversion
, the amount of profit will not depend upon
the quantity of such fresh imported money in
any degree, no any otherwise than in as far
as the conversion of the higher rates of interest
into the lowest rate is accelerated by that
means: and if the whole conversion should be
effected at once, by subscription, (as explained
in the note to Art. 20) then, there being
no room for such acceleration, no fresh profit
can be derived on that account from this source.
The only profit, produced in this case by such fresh money,
will be that which depends on the acceleration
of the arrival of the respective periods of the subsequent reductions, from £2:19s to
£2.7,5d per Cent, and so on, by so many
successive issues.


Identifier: | JB/003/480/001"JB/" can not be assigned to a declared number type with value 3.

Date_1

1801-08-06

Marginal Summary Numbering

Box

003

Main Headings

annuity notes

Folio number

480

Info in main headings field

Image

001

Titles

note to p. 9

Category

text sheet

Number of Pages

1

Recto/Verso

recto

Page Numbering

e9 / f117

Penner

jeremy bentham

Watermarks

cw 1799

Marginals

Paper Producer

c. abbit lees

Corrections

Paper Produced in Year

1799

Notes public

ID Number

1890

Box Contents

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