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<p>12 <note>Annuity notes</note><lb/> Ch. Grounds<lb/> <del><gap/><gap/></del></note></p> <p> <note>17<lb/> The case of the<lb/> authors<add> <sic>provisioner</sic></add> being unprepared<lb/> to fulfil the<lb/> whole of his engagement</note> </p><p> To no such <hi rend="underline">run </hi> <del>is</del><add>can</add> the proposed Government<lb/>paper be ever exposed. There never is the <add>that</add> time<lb/> — there never can be that time — in which<lb/> the Bank <add> <del>or any Bank</del> </add> <hi rend="superscript">[+]</hi> <note> [+] or any Bank but a | <p>12 <note>Annuity notes</note><lb/><note> Ch. Grounds<lb/> <del><gap/><gap/></del></note></p> <p> <note>17<lb/> The case of the<lb/> authors<add> <sic>provisioner</sic></add> being unprepared<lb/> to fulfil the<lb/> whole of his engagement</note> </p><p> To no such <hi rend="underline">run</hi> <del>is</del> <add>can</add> the proposed Government<lb/>paper be ever exposed. There never is the <add>that</add> time<lb/> — there never can be that time — in which<lb/> the Bank <add> <del>or any Bank</del> </add> <hi rend="superscript">[+]</hi> <note> [+] or any Bank but a mere Bank of deposit,</note> can be prepared <add> in a condition</add> to <del>answer the<lb/>whole of</del> fulfil the whole of the engagements it<lb/> has contracted — to answer <add> at all times</add> the whole of the demands<lb/> that <hi rend="underline">may</hi> <add> come to</add> be made on it. There<lb/><note>never can happen<lb/> here, as <add> it has done</add> in case of<lb/> Bank Notes.</note><lb/> never can be that time on which Government <lb/> can <hi rend="underline">on a sudden</hi> — ( I say <hi rend="underline">on a sudden</hi><lb/> for, be in remembered, <hi rend="underline">that</hi> is the point in<lb/> question ) — can be unprepared to answer<lb/> <add> in the utmost plentitude</add> all the demands that on the score of these <add>the proposed</add><lb/> Annuity Notes can ever be made upon it. What<lb/> the Bank undertakes for by every note it issues<lb/> is to pay <add> and to pay on what day soever the demand may happen to take place,</add> the <hi rend="underline">principal</hi> sum specified in that<lb/> note. What Government undertakes for by <del>ever</del> an <add> a proposed</add> <lb/> Annuity Note is to pay <add> to do in any one day</add> — not the <hi rend="underline">principal</hi> sum <lb/> specified on that note, but only the <hi rend="underline">interest</hi>, at<lb/> the rate of three per cent — not the whole of that<lb/> sum, but less than one thirty-third part of it — and<lb/> that — not at an uncertain day, at the option<lb/> of the <sic>demandant</sic> — but on a <add> day</add> certain, predetermined<lb/> by government itself.</p> | ||
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12 Annuity notes
Ch. Grounds
17
The case of the
authors provisioner being unprepared
to fulfil the
whole of his engagement
To no such run is can the proposed Government
paper be ever exposed. There never is the that time
— there never can be that time — in which
the Bank or any Bank [+] [+] or any Bank but a mere Bank of deposit, can be prepared in a condition to answer the
whole of fulfil the whole of the engagements it
has contracted — to answer at all times the whole of the demands
that may come to be made on it. There
never can happen
here, as it has done in case of
Bank Notes.
never can be that time on which Government
can on a sudden — ( I say on a sudden
for, be in remembered, that is the point in
question ) — can be unprepared to answer
in the utmost plentitude all the demands that on the score of these the proposed
Annuity Notes can ever be made upon it. What
the Bank undertakes for by every note it issues
is to pay and to pay on what day soever the demand may happen to take place, the principal sum specified in that
note. What Government undertakes for by ever an a proposed
Annuity Note is to pay to do in any one day — not the principal sum
specified on that note, but only the interest, at
the rate of three per cent — not the whole of that
sum, but less than one thirty-third part of it — and
that — not at an uncertain day, at the option
of the demandant — but on a day certain, predetermined
by government itself.
