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<head>Note<lb/> Note (a) to p. <del>9</del> 144</head> | <head>Note<lb/> Note (a) to p. <del>9</del> 144</head> | ||
<p>(a) | <p>(a)I say <hi rend='underline'>restitution</hi>: for, as the <del>money</del> <add>amount</add> is <hi rend='underline'>added<lb/>to</hi> <add>productive</add> capital upon the redemption of the debt, so was<lb/> it <hi rend='underline'>taken from</hi> productive capital on the <del>contracting</del> <add><unclear>motion</unclear></add> <lb/>of the debt.</p> | ||
<p><!-- indent --> | <p><!-- indent --> | ||
The capital created (it may here <sic>occurr</sic>) is <lb/>always more than the money borrowed; and <del>atti</del><lb/> therefore, deducting from the capital created, the amount <lb/>of the money borrowed, the difference will be <add>—</add> not <lb/><hi rend='underline'>restitution</hi>, but | The capital created (it may here <sic>occurr</sic>) is <lb/>always more than the money borrowed; and <del>atti</del><lb/> therefore, deducting from the capital created, the amount <lb/>of the money borrowed, the difference will be <add>—</add> not <lb/><hi rend='underline'>restitution</hi>, but trust <hi rend='underline'>addition</hi>; so that, supposing<lb/> £100 million borrowed at in 3 per Cents at 80,<lb/> and paid off at par, <add>viz by payment of £200 million</add> the restitution would be <lb/><add>effected by loan of the</add> <del>one</del> hundred millions, and the other would be <del>so</del> much<lb/> neat addition, made to the mass of national capital,<lb/> by the <unclear>war</unclear>. | ||
</p> | </p> | ||
<p><!-- indent --> | <p><!-- indent --> | ||
<del>But, besides</del> If this | <del>But, besides</del> If this statement were correct<lb/> and full, it would follow that in point of <del>wealth</del><lb/> <add>productive capital, and thence <del>of wealth</del> in point of wealth</add> as far as mere disbursement and receipt <del>was</del> <add>were</add> concerned,<lb/> the notion would be a gainer to this vast <lb/>amount instead of being a loser by the war:<lb/> and if the account were taken, of profit and loss<lb/> on other <del>accounts</del>, <add>scores</add> viz: <del>pos</del> loss by distinction and<lb/> <hi rend='underline'>captures <add>suffered</add></hi> on the one hand - profit by insurance-money<lb/> and <hi rend='underline'>captures trade</hi> on the other, the result would<lb/> (I have reason to think) be still more <sic>favourable</sic>. </p> | ||
<p><!-- indent --> | <p><!-- indent --> | ||
But, besides that, upon the redemption plan <lb/>now pursued, a considerable part of the debt will <lb/>be redeemed - not at par but for a considerably <lb/>inferior price - the money, <del>refunded</del> <add><del>restored</del></add> to <add>added to</add> productive <lb/> capital <add>by redemption,</add> is added at <unclear>period</unclear> of time much <hi rend='underline'>later</hi> than <lb/><unclear>that</unclear> at which <del>it</del> the money was defalcated by <hi rend='underline'>war<lb/> <add>expenditure</add></hi> <!-- underlinings seem to have been struck out --> </p> | But, besides that, upon the redemption plan <lb/>now pursued, a considerable part of the debt will <lb/>be redeemed - not at par but for a considerably <lb/>inferior price - the money, <del>refunded</del> <add><del>restored</del></add> to <add>added to</add> productive <lb/> capital <add>by redemption,</add> is added at <unclear>period</unclear> of time much <hi rend='underline'>later</hi> than <lb/><unclear>that</unclear> at which <del>it</del> the money was defalcated by <hi rend='underline'>war<lb/> <add>expenditure</add></hi> <!-- underlinings seem to have been struck out --> </p> | ||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}}{{Completed}} | ||
Note
Note (a) to p. 9 144
(a)I say restitution: for, as the money amount is added
to productive capital upon the redemption of the debt, so was
it taken from productive capital on the contracting motion
of the debt.
The capital created (it may here occurr) is
always more than the money borrowed; and atti
therefore, deducting from the capital created, the amount
of the money borrowed, the difference will be — not
restitution, but trust addition; so that, supposing
£100 million borrowed at in 3 per Cents at 80,
and paid off at par, viz by payment of £200 million the restitution would be
effected by loan of the one hundred millions, and the other would be so much
neat addition, made to the mass of national capital,
by the war.
But, besides If this statement were correct
and full, it would follow that in point of wealth
productive capital, and thence of wealth in point of wealth as far as mere disbursement and receipt was were concerned,
the notion would be a gainer to this vast
amount instead of being a loser by the war:
and if the account were taken, of profit and loss
on other accounts, scores viz: pos loss by distinction and
captures suffered on the one hand - profit by insurance-money
and captures trade on the other, the result would
(I have reason to think) be still more favourable.
But, besides that, upon the redemption plan
now pursued, a considerable part of the debt will
be redeemed - not at par but for a considerably
inferior price - the money, refunded restored to added to productive
capital by redemption, is added at period of time much later than
that at which it the money was defalcated by war
expenditure
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Identifier: | JB/002/236/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
Annuity Notes |
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236 |
Note |
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001 |
Note (a) to p. 144 |
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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. |
F145 |
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Jeremy Bentham |
1798 A<…> |
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Frances Wright |
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1798 |
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975 |
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