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000 will be 000 sale: but it is altogether<lb/> | 000 will be 000 sale: but it is altogether<lb/> | ||
uncertain upon what terms. Stock Annuities <lb/> | uncertain upon what terms. Stock Annuities <lb/> | ||
are subject to an 000 of | are subject to an 000 of <sic>depretiation</sic>,<lb/> | ||
<add>the Annuities granted by</add> Exchequer Bills, to another: <unclear>viz:</unclear> that of <lb/> | |||
being paid off at a time when an equal rate<lb/> | being paid off at a time when an equal rate<lb/> | ||
of interest is not to be obtained by the <hi rend="superscript">by the money</hi><lb/> | of interest is not to be obtained by the <hi rend="superscript">by the money</hi><lb/> | ||
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In time of war, <add>so long as war continues</add> true it is, that by watching<lb/> | In time of war, <add>so long as war continues</add> true it is, that by watching<lb/> | ||
the course of the market, a man whose Exchequer<lb/> | the course of the market, a man whose Exchequer<lb/> | ||
Bills have been paid off, <hi rend="superscript">run out their terms and</hi> <del>will</del> may <del> | Bills have been paid off, <hi rend="superscript">run out their terms and</hi> <del>will</del> may <del></del><lb/> | ||
entertain a reasonable hope of purchasing a fresh <!-- does JB mean "afresh"? --><lb/> | entertain a reasonable hope of purchasing a fresh <!-- does JB mean "afresh"? --><lb/> | ||
and a fresh batch upon equally advantageous<lb/> | and a fresh batch upon equally advantageous<lb/> | ||
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—that of a Stock Jobber: a profession which<lb/> | —that of a Stock Jobber: a profession which<lb/> | ||
individuals <unclear>at large</unclear> can not in general attempt<lb/> | individuals <unclear>at large</unclear> can not in general attempt<lb/> | ||
to | to exercise but under disadvantages of which in<lb/> | ||
<sic>generall</sic> they are accordingly sufficiently aware.<pb/> | <sic>generall</sic> they are accordingly sufficiently aware.<pb/> | ||
In the case instance of Exchequer Bills, it is true,
the danger of depretiation is of comparatively
small account. But the annuity afforded by
an Exchequer Bill is not the sort of annuity
which is afforded by the issues of paper
proposed. It is an annuity if such it may
be termed for a term never exceeding two years,
and which may fall short of that term to any
amount. It is therefor altogether unsuited to the
demand afforded by a permanent sum
The probability is indeed that when our batch 000
of Exchequer Bills is paid off, or before, another
000 will be 000 sale: but it is altogether
uncertain upon what terms. Stock Annuities
are subject to an 000 of depretiation,
the Annuities granted by Exchequer Bills, to another: viz: that of
being paid off at a time when an equal rate
of interest is not to be obtained by the by the money
money sums replaced..
paragraph
In time of war, so long as war continues true it is, that by watching
the course of the market, a man whose Exchequer
Bills have been paid off, run out their terms and will may
entertain a reasonable hope of purchasing a fresh
and a fresh batch upon equally advantageous
terms. But to watch the course of the market in
any such view is in effect to follow a particular 000-
—that of a Stock Jobber: a profession which
individuals at large can not in general attempt
to exercise but under disadvantages of which in
generall they are accordingly sufficiently aware.
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Identifier: | JB/002/553/001"JB/" can not be assigned to a declared number type with value 2. |
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11 |
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002 |
Annuity Notes |
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553 |
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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. |
F13 |
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Jeremy Bentham |
<…>M 1798 |
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Frances Wright |
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1798 |
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1292 |
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