★ Find a new page on our Untranscribed Manuscripts list.
No edit summary |
No edit summary |
||
| (3 intermediate revisions by 2 users not shown) | |||
| Line 2: | Line 2: | ||
<!-- ENTER TRANSCRIPTION BELOW THIS LINE --> | <!-- ENTER TRANSCRIPTION BELOW THIS LINE --> | ||
<head>Ch XVI. Moral Advantages</head><lb/>In the existing state of the money-market, the hoards of the <hi rend='underline'>opulent</hi> are prolific and accumulating:<lb/>the hoards of the <hi rend='underline'>poor</hi> alone are dead and | <head>Ch XVI. Moral Advantages</head> | ||
<p> | |||
<note>Promotion <lb/>of<lb/>Frugality</note> | |||
<lb/> | |||
In the existing state of the money-market, the | |||
<lb/> | |||
hoards of the <hi rend='underline'>opulent</hi> are prolific and accumulating:<lb/>the hoards of the <hi rend='underline'>poor</hi> alone are dead and unproductive.<lb/> | |||
By the proposed measure, the condition of the<lb/><hi rend='underline'>poor</hi> in this respect would be raised to a level - in the<lb/>first instance <hi rend='underline'>not much below</hi> - and in process of<lb/>time (as the price of Stock Annuities rose, and the rate<lb/>of interest obtainable by the purchase of them diminished)<lb/> <hi rend='underline'>altogether upon a par with</hi> - the condition of<lb/>the <hi rend='underline'>rich</hi>.</p> | |||
<p>A result to be viewed without regret is - that<lb/>in every <hi rend='underline'>period</hi> after the <hi rend='underline'>second</hi>, and, in proportion<lb/>as the rate of interest afforded by Government Annuities<lb/> comes to be reduced, the encouragement thus<lb/> given to frugality will thus be reduced likewise: for,<lb/>though after the reduction the <hi rend='underline'>remainder</hi> will be<lb/><hi rend='underline'>gain</hi>, as compared with the <hi rend='underline'>present</hi> period, yet the<lb/><hi rend='underline'>difference</hi> will be <hi rend='underline'>loss</hi>, in comparison of the period<lb/>then <hi rend='underline'>last in experience</hi>. But, in the mean time <add>the</add></p> | |||
<head>Note. continued.</head> | |||
<p>Were the proposed Annuity - Note paper to be omitted,<lb/>"<hi rend='underline'>Every</hi> poor <hi rend='underline'>man might be his own banker</hi>": every poor<lb/>man might, by throwing his little hoards into this<lb/>shape, make Banker's profit of his <hi rend='underline'>own</hi> money. Every<lb/>County Cottage—every little Town Tenement—might,<lb/>with this degree of profit, and with a degree of securi-<lb/>-ty till now unknown, be a <hi rend='underline'>Frugality Bank</hi>.—</p> | |||
<!-- DO NOT EDIT BELOW THIS LINE --> | <!-- DO NOT EDIT BELOW THIS LINE --> | ||
{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}}{{Completed}} | ||
Ch XVI. Moral Advantages
Promotion
of
Frugality
In the existing state of the money-market, the
hoards of the opulent are prolific and accumulating:
the hoards of the poor alone are dead and unproductive.
By the proposed measure, the condition of the
poor in this respect would be raised to a level - in the
first instance not much below - and in process of
time (as the price of Stock Annuities rose, and the rate
of interest obtainable by the purchase of them diminished)
altogether upon a par with - the condition of
the rich.
A result to be viewed without regret is - that
in every period after the second, and, in proportion
as the rate of interest afforded by Government Annuities
comes to be reduced, the encouragement thus
given to frugality will thus be reduced likewise: for,
though after the reduction the remainder will be
gain, as compared with the present period, yet the
difference will be loss, in comparison of the period
then last in experience. But, in the mean time the
Note. continued.
Were the proposed Annuity - Note paper to be omitted,
"Every poor man might be his own banker": every poor
man might, by throwing his little hoards into this
shape, make Banker's profit of his own money. Every
County Cottage—every little Town Tenement—might,
with this degree of profit, and with a degree of securi-
-ty till now unknown, be a Frugality Bank.—
