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<p> 12 <lb/> <note> Annuity Notes</note> <lb/> <note> Plan <sic>Annot</sic><hi rend="superscript">s</hi><lb/> 1 Value &c<lb/> [14] continued.</note></p> <p> place: and so certain and unquestionable is <lb/> the efficacy of the measure in question with regard<lb/> to the increasing the effectual demand for this paper<lb/> that it may well be said that the pressure originated<lb/> — not for want of hard cash so much as<lb/> for want of small notes.</p> <p> When a run is produced <add> and thence a discount,</add> upon any species<lb/> of paper, it is not that <hi rend="underline">nobody will</hi> take<lb/> or keep that species of paper — but only that <lb/> there are <hi rend="underline">some</hi> that <hi rend="underline">will not</hi> <hi rend="underline">now</hi>, of those who<lb/> <hi rend="underline">would</hi> <hi rend="underline">before</hi>. But although <del>f</del> <add> <del><gap/></del> the large capitalist</add> who <sic>till</sic> now <lb/> could and would bear his part in the circulation<lb/> should now refuse to do so, the circulation will<lb/> not however be arrested or affected by the refusal, <lb/> if for every large capitalist so refusing there should<lb/> be introduced into the market a number of small<lb/> capitalists ready now for the first time to bear<lb/> <del>their part, and whose capitals taken together</del> <lb/> their part, so long as the sum of the <add>small</add> capitals thus<lb/> introduced into the Market is not less than the sum<lb/> of the large capitals so withdrawn from it. So <lb/> rapidly [does the <sic>populousness</sic> of a class increase <add> do numbers increase as opulence diminishes</add> <lb/> as the opulence of it diminishes], that not only<lb/> the class of <del>£5</del> £1 men is more numerous<lb/> than the class of £5 men, but the sum <add> total</add> of the<lb/> wealth of the less opulent class is greater than the <lb/> <add>sum</add> total of the wealth of the more opulent: [in a <lb/> word] the numbers of £1 men being more than<lb/> 5 times as great — probably much more — than that<lb/> of £5 men. <add>+</add> </p> <p> <note> (I mean <del>per</del><lb/> individuals whose<lb/> money means are<lb/> <del>extra</del> considerable enough<lb/> to <sic>admitt</sic> of their taking<lb/> a £1 note in exchange)</note></p><p> <note> + Finish this <gap/> and<lb/> then <gap/> when found.</note> </p> | |||
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12
Annuity Notes
Plan Annots
1 Value &c
[14] continued.
place: and so certain and unquestionable is
the efficacy of the measure in question with regard
to the increasing the effectual demand for this paper
that it may well be said that the pressure originated
— not for want of hard cash so much as
for want of small notes.
When a run is produced and thence a discount, upon any species
of paper, it is not that nobody will take
or keep that species of paper — but only that
there are some that will not now, of those who
would before. But although f the large capitalist who till now
could and would bear his part in the circulation
should now refuse to do so, the circulation will
not however be arrested or affected by the refusal,
if for every large capitalist so refusing there should
be introduced into the market a number of small
capitalists ready now for the first time to bear
their part, and whose capitals taken together
their part, so long as the sum of the small capitals thus
introduced into the Market is not less than the sum
of the large capitals so withdrawn from it. So
rapidly [does the populousness of a class increase do numbers increase as opulence diminishes
as the opulence of it diminishes], that not only
the class of £5 £1 men is more numerous
than the class of £5 men, but the sum total of the
wealth of the less opulent class is greater than the
sum total of the wealth of the more opulent: [in a
word] the numbers of £1 men being more than
5 times as great — probably much more — than that
of £5 men. +
(I mean per
individuals whose
money means are
extra considerable enough
to admitt of their taking
a £1 note in exchange)
+ Finish this and
then when found.
