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2. It may be made<lb/> | 2. It may be made<lb/> | ||
to promote probity<lb/> | to promote probity<lb/> | ||
on the part of | on the part of Trustees<lb/> | ||
of all descriptions<lb/> | of all descriptions<lb/> | ||
Trustees to most<lb/> | Trustees to most<lb/> | ||
trust money in<lb/> | trust money in<lb/> | ||
Annuity Note paper<lb/> | Annuity Note paper<lb/> | ||
immediately as released - to keep</note><lb/> | immediately as released <lb/> | ||
- to keep</note><lb/> | |||
<p>2. Preservation of <hi rend="underline">probity</hi> on the part of Trustees of<lb/> | <p>2. Preservation of <hi rend="underline">probity</hi> on the part of Trustees of<lb/> | ||
all sorts, | all sorts, to whose <del>intention</del><add>function</add> it belongs to receive money<lb/> | ||
on account of their principals: - <hi rend="underline">Excecutors</hi> and<lb/> | on account of their principals: - <hi rend="underline">Excecutors</hi> and<lb/> | ||
<hi rend="underline">Administra</hi>tors - <hi rend="underline">Guardians</hi> - <add>Stewards-</add> <hi rend="underline">Assignees of Bankrupts</hi> -<lb/> | <hi rend="underline">Administra</hi>tors - <hi rend="underline">Guardians</hi> - <add>Stewards-</add> <hi rend="underline">Assignees of Bankrupts</hi> -<lb/> | ||
<hi rend="underline">Prize Agents - Factors <gap/> <gap/> and the like.</hi></p> | <hi rend="underline">Prize Agents - Factors <del><gap/> <gap/></del> and the like.</hi></p> | ||
<p><del>Already it is, and for several generations has been</del><lb/> | <p><add><del>It has long been an established practice</del></add> <del>Already it is, and for several generations has been</del><lb/> | ||
<del>the constant practical</del> <add><del>It is a long established practice</del></add> <del>of the | <del>the constant practical</del> <add><del>It is a long established practice</del></add> <del>of the Court of Chancery to <gap/></del><lb/> | ||
<add>To cause</add> <hi rend="underline">trust m</hi>onies, as often as a suitable case presents itself,<lb/> | <add>To cause</add> <hi rend="underline">trust m</hi>onies, as often as a suitable case presents itself,<lb/> | ||
to be laid out <add>in the purchase of Government Annuities</add> for the benefit of the principals, <del>in the</del><lb/> | to be laid out <add>in the purchase of Government Annuities</add> for the benefit of the principals, <del>in the</del><lb/> | ||
<del>purchase of Government Annuities</del> | <del>purchase of Government Annuities</del><add>is in the <unclear>Court</unclear> of Chancery matter of <del><gap/></del> long established</add>: <add><del>[+]</del></add> <del>The credit of</del> <note><add>[+]</add> a practice which,<lb/> | ||
by <del>an</del><add>an Act of</add> very <gap/> | by <del>an</del><add>an Act of</add> very <gap/> that<hi rend="superscript">+</hi>,<lb/> | ||
has received <add>express</add> support<lb/> | has received <add>express</add> support<lb/> | ||
from <del>the legislature</del>.<add>Parliament.</add> —</note><lb/> | from <del>the legislature</del>.<add>Parliament.</add> —</note><lb/> | ||
the proposed <add>practice: [+] The credit of</add> new Government Annuities having been<lb/> | the proposed <add>practice: [+] The credit of</add> new Government Annuities having been<lb/> | ||
previously established by sufficient experience, let a similar<lb/> | |||
investment of all trust-monies, as they come in, <note><!-- Pencil note overwritten with ink note --> such paper <lb/> | |||
<gap/> <gap/> <gap/><lb/> | |||
from <gap/> money<lb/> | |||
and keep <gap/><lb/> | |||
of the day when<lb/> | |||
raised and <gap/><lb/> | |||
a <gap/><lb/> | |||
Note <gap/><lb/> | |||
with the int<gap/> | |||
</note><lb/> | |||
be rendered <del>an</del> a matter of <add><del>universal</del><add>general</add></add> obligation, by an act of <note>+ 39 & 40 G.3.c36<lb/> | |||
1 May 1800</note><lb/> | |||
the legislature. - <del>Receipt of it every parcel of money</del><lb/> | |||
A <hi rend="underline">trust</hi>-<add><hi rend="underline">Receipt</hi></add><hi rend="underline">book</hi> to be kept, with a <hi rend="underline">trust-till</hi>. In the<lb/> | |||
Book an entry to be made of each <hi rend="underline">sum</hi> received, with<lb/> | |||
an indipensable statement of the <hi rend="underline">day</hi>. The money, if<lb/> | |||
not received in the shape of Annuity Notes, to be<lb/> | |||
<del>converted</del> <add>sent to the office</add> on that day or the next <del>into this office</del><lb/> | |||
to be <del>converted</del><add>changed</add> into Annuity Notes: <add>[+]2</add> the day <add>be</add> not <unclear>entered</unclear> <note><add>[+]2</add> the Notes received<lb/> | |||
to be <hi rend="underline">entered</hi> by their<lb/> | |||
<del><hi rend="underline"><gap/></hi></del> <hi rend="underline">N<hi rend="superscript">os</hi></hi>:. if</note><lb/> | |||
the first day of the year to be presumed: <hi rend="underline">The trust-paper</hi><lb/> | |||
as received, to be deposited in the <hi rend="underline">trust-till</hi>, to save it from <note>interest on them<lb/> | |||
to be delivered over<lb/> | |||
subject to the <gap/><lb/> | |||
of <gap/> of the<lb/> | |||
<gap/> to <gap/><lb/> | |||
advantage.<lb/> | |||
The obligation will <lb/> | |||
be <gap/>no <gap/> but<lb/> | |||
<!-- Overwritten by ink marginal note --> <gap/> <gap/> <gap/><lb/> | |||
<gap/> <gap/> <gap/></note><lb/> | |||
being <del>mixed</del><add>confounded</add> with <hi rend="underline">proper m</hi>onies. <del>Power to</del> This not<lb/> | |||
to prevent the disposal of the amount to superior advantage<lb/> | |||
i:e: at a higher rate of interest than what<lb/> | |||
is afforded by Annuity Notes, in as far as the nature<lb/> | |||
of the trial <sic>admitts</sic> of it. </p> | |||
<p>What is this proposed to be rendered <hi rend="underline">obligatory</hi><lb/> | |||
for the benefit of the principal, a <hi rend="underline">careful</hi> trustee<lb/> | |||
will do <hi rend="underline">spontaneously</hi>, either <del>in</del> for the benefit of the principal<lb/> | |||
or for his own according to the texture of his <note><add>[+] 3</add> for <hi rend="underline">vice</hi> instead<lb/> | |||
of <add>a</add> <hi rend="underline">virtue</hi>: a premium<lb/> | |||
for <hi rend="underline">improbity</hi><lb/> | |||
in the one situation<lb/> | |||
as for frugality<lb/> | |||
in the other. |<lb/> | |||
<gap/> Lastly<gap/></note><lb/> | |||
conscience. Should <del>the legislature fail to take this</del><add> a precaution thus</add> simple<lb/> | |||
and unexceptionable <del><gap/> <gap/></del><add>be neglected,</add>, the institution of Annuity<lb/> | |||
Notes will be a premium <add>[+]3</add><del>if 3 per Cent in the <gap/> of the</del><lb/> | |||
<del> <gap/> <gap/> money for <gap/> improbity on the part of<gap/></del></p><pb/> | |||
<!-- DO NOT EDIT BELOW THIS LINE --> | <!-- DO NOT EDIT BELOW THIS LINE --> | ||
{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}}{{Completed}} | ||
31 Sept. 1800
3 Abstract
Advant.
4
2. It may be made
to promote probity
on the part of Trustees
of all descriptions
Trustees to most
trust money in
Annuity Note paper
immediately as released
- to keep
2. Preservation of probity on the part of Trustees of
all sorts, to whose intentionfunction it belongs to receive money
on account of their principals: - Excecutors and
Administrators - Guardians - Stewards- Assignees of Bankrupts -
Prize Agents - Factors and the like.
It has long been an established practice Already it is, and for several generations has been
the constant practical It is a long established practice of the Court of Chancery to
To cause trust monies, as often as a suitable case presents itself,
to be laid out in the purchase of Government Annuities for the benefit of the principals, in the
purchase of Government Annuitiesis in the Court of Chancery matter of long established: [+] The credit of [+] a practice which,
by anan Act of very that+,
has received express support
from the legislature.Parliament. —
the proposed practice: [+] The credit of new Government Annuities having been
previously established by sufficient experience, let a similar
investment of all trust-monies, as they come in, such paper
from money
and keep
of the day when
raised and
a
Note
with the int
be rendered an a matter of universal<add>general</add> obligation, by an act of + 39 & 40 G.3.c36
1 May 1800
the legislature. - Receipt of it every parcel of money
A trust-Receiptbook to be kept, with a trust-till. In the
Book an entry to be made of each sum received, with
an indipensable statement of the day. The money, if
not received in the shape of Annuity Notes, to be
converted sent to the office on that day or the next into this office
to be convertedchanged into Annuity Notes: [+]2 the day be not entered [+]2 the Notes received
to be entered by their
N<hi rend="superscript">os</hi>:. if
the first day of the year to be presumed: The trust-paper
as received, to be deposited in the trust-till, to save it from interest on them
to be delivered over
subject to the
of of the
to
advantage.
The obligation will
be no but
being mixedconfounded with proper monies. Power to This not
to prevent the disposal of the amount to superior advantage
i:e: at a higher rate of interest than what
is afforded by Annuity Notes, in as far as the nature
of the trial admitts of it.
What is this proposed to be rendered obligatory
for the benefit of the principal, a careful trustee
will do spontaneously, either in for the benefit of the principal
or for his own according to the texture of his [+] 3 for vice instead
of a virtue: a premium
for improbity
in the one situation
as for frugality
in the other. |
Lastly
conscience. Should the legislature fail to take this a precaution thus simple
and unexceptionable be neglected,, the institution of Annuity
Notes will be a premium [+]3if 3 per Cent in the of the
money for improbity on the part of
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