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<p> <del>7</del> 8 <note> Annuity Notes<lb/> Ch. 8<lb/> Period 1</note></p> <p> <note> 5. Exchequer &c Bills<lb/> <del>20</del> 23<lb/> 5. Profit by <lb/> | <p> <del>7</del> 8 <note> Annuity Notes<lb/> Ch. 8<lb/> Period 1</note></p> <p> <note> 5. Exchequer &c Bills<lb/> <del>20</del> 23<lb/> 5. Profit by <lb/> owning an Exchequer<lb/> Bill.<lb/> The rate of profit<lb/> will be 2 1/3 per Cent<lb/> on the principal</note></p> <p> 5. Profit by reduction of the rate of interest paid<lb/>on other Government paper: viz: Exchequer Bills,<lb/>and Bills of the nature of Navy Bills.</p> <p> <del>Along</del> With the fall in the rate of interest yielded<lb/> by <del>Stock</del> <del> capital invested in</del> <add> money lent and borrowed in</add> Stock Annuities<lb/> the fall in the rate of interest paid by Government<lb/>on Exchequer Bills will at least keep pace<lb/>At present the interest paid on money thus borrowed<lb/>is by the day 3<hi rend="superscript">d</hi> 1/2; by the year £5:6<hi rend="superscript">s</hi>: :<hi rend="superscript">d</hi> for<lb/> every £100: Rate of interest, 5 1/3 per cent nearly<lb/>This at a time that 3 per Cent Stock is between £62 and £64.</p> <p><del> <gap/></del> In the Year <del>1795</del> <add> 1724</add> the interest in the same<lb/> species of papers was no more than by the day, 2<hi rend="superscript">d</hi><lb/>by the Year £3:0<hi rend="superscript">s</hi>:10:<hi rend="superscript">d</hi> Rate of interest, a trifle<lb/> (not worth reckoning) above 3 per cent. (Yet at <!-- pencil bracket on right to end of paragraph --><note><gap/> in <gap/> </note><lb/> this time 3 per Cent Stock was very considerably<lb/> below par: i:e: below the price to which by<lb/> the end of the first period it will by the supposition<lb/> have been raised.</p><p> The rate of profit therefore by the <add> last day,</add> end of the<lb/>period will have risen to about 2 1/3 per Cent<lb/>upon whatever <del>sum more quantity of debt</del> may <lb/> by the last <del>portion sum of</del> amount of the <lb/>last portion of debt of this <del><gap/></del> kind of this<lb/>kind incurred on the <del>day</del> occasion <del>but</del> nearest<lb/> to such last day: average rate for the whole of the <lb/> period, 1 1/6<hi rend="superscript">th</hi> per cent.</p> | ||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}} | ||
7 8 Annuity Notes
Ch. 8
Period 1
5. Exchequer &c Bills
20 23
5. Profit by
owning an Exchequer
Bill.
The rate of profit
will be 2 1/3 per Cent
on the principal
5. Profit by reduction of the rate of interest paid
on other Government paper: viz: Exchequer Bills,
and Bills of the nature of Navy Bills.
Along With the fall in the rate of interest yielded
by Stock capital invested in money lent and borrowed in Stock Annuities
the fall in the rate of interest paid by Government
on Exchequer Bills will at least keep pace
At present the interest paid on money thus borrowed
is by the day 3d 1/2; by the year £5:6s: :d for
every £100: Rate of interest, 5 1/3 per cent nearly
This at a time that 3 per Cent Stock is between £62 and £64.
In the Year 1795 1724 the interest in the same
species of papers was no more than by the day, 2d
by the Year £3:0s:10:d Rate of interest, a trifle
(not worth reckoning) above 3 per cent. (Yet at in
this time 3 per Cent Stock was very considerably
below par: i:e: below the price to which by
the end of the first period it will by the supposition
have been raised.
The rate of profit therefore by the last day, end of the
period will have risen to about 2 1/3 per Cent
upon whatever sum more quantity of debt may
by the last portion sum of amount of the
last portion of debt of this kind of this
kind incurred on the day occasion but nearest
to such last day: average rate for the whole of the
period, 1 1/6th per cent.
