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<p>time in case of a run it would | |||
<p>time in case of a run it would necessarily <add>on several accounts</add> take up more | |||
<lb/> | |||
time to pay a given sum in <add>such</add> small notes than in the | time to pay a given sum in <add>such</add> small notes than in the | ||
<lb/> | <lb/> | ||
<del>large</del> pound large notes. It would for example take up <lb/> | <del>large</del> pound large notes. It would for example take up <lb/> | ||
at least four times the time to give change for the notes <lb/> | at least four times the time to give change for the notes <lb/> | ||
of £2-10<hi rend='superscript'>d</hi> each that it would to give change for one of <lb/> £10, even supposing them all brought by the same person: <lb/> and if brought by four different persons the time <lb/> would it is obvious enough be more or less protracted by | of £2-10<hi rend='superscript'>d</hi> each that it would to give change for one of | ||
<lb/> that circumstance. Government would therefore, <add>constantly and | <lb/> | ||
£10, even supposing them all brought by the same person: | |||
<lb/> | |||
and if brought by four different persons the time | |||
<lb/> | |||
would it is obvious enough be more or less protracted by | |||
<lb/> | |||
that circumstance. Government would therefore, <add>constantly and</add> <hi rend='underline'>ex necessitati<lb/> | |||
rei</hi> and therefore without the smallest imputation | |||
<lb/> | <lb/> | ||
upon its credit be gaining <add>thus giving itself that advantage</add> that time which the Bank | upon its credit be gaining <add>thus giving itself that advantage</add> that time which the Bank | ||
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<lb/> | <lb/> | ||
at very exorbitant interest. In this way, and without interest | at very exorbitant interest. In this way, and without interest | ||
</p | </p> | ||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}} | ||
<pb/> | <pb/>{{Completed}} | ||
time in case of a run it would necessarily on several accounts take up more
time to pay a given sum in such small notes than in the
large pound large notes. It would for example take up
at least four times the time to give change for the notes
of £2-10d each that it would to give change for one of
£10, even supposing them all brought by the same person:
and if brought by four different persons the time
would it is obvious enough be more or less protracted by
that circumstance. Government would therefore, constantly and ex necessitati
rei and therefore without the smallest imputation
upon its credit be gaining thus giving itself that advantage that time which the Bank
of England have now very occasionally and very rarely
been driven to do give itself for the preservation of its solvency
to the great disparagement of its credit.
No reason can be given (except the universal objection
of its not having been done before) against Government's
issuing notes of this description which does not apply
and with still greater force against the issuing of the present
Exchequer Bills. If Government ought not to trust
itself with the faculty of borrowing money without interest
still less ought it to trust itself with that of borrowing
money with interest.
Money has been borrowed all always been borrowed
by Administration at interest without the sanction of Parliament viz:
by Navy Bills and Ordinance Debentures, and till lately
at very exorbitant interest. In this way, and without interest
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Identifier: | JB/002/371/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
Annuity Notes |
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371 |
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001 |
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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. |
E21 |
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Jeremy Bentham |
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1110 |
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