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| Another instance<add>precident</add> that may be <unclear>endowed</unclear><add>alledged</add><del><gap/></del><lb/>
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| affording a presumption that no such low<add>inferior</add> rate<lb/>
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| of interest as is proposed will be accepted of by the <lb/>
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| public in the case of a paper<add>a mass of annuity</add> the <gap/> of which<lb/>
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| depends upon its <unclear>passing</unclear> in circulation <del>for the</del><del>at & from</del><lb/>
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| corresponding to the principal of that rate of interest<lb/>
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| is that of the existing <gap/>pense of Government paper<lb/>
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| <unclear>called an</unclear> Exchequer <unclear>Bill</unclear>.<lb/>
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| The Exchequer Bill <unclear>true</unclear> it is (it may be <unclear>called</unclear>)<lb/>
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| that among the persons who <gap/> of this opines<lb/>
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| of paper as an equivalent for cash there are<lb/>
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| many to the <gap/> of & when <gap/> it may it may be necessary<lb/>
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| that the cash should <add>corresponding quantity</add>be forthcoming <add>in this <unclear>hand</unclear></add> at a<lb/>
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| <gap/>ad a<gap/> to that at which Government under<lb/>
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| unless either to give cash for it or to accept it<lb/>
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| <foreign>in lieu</foreign> of cash, and whose <gap/><add>dependance</add> therefore as<lb/>
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| far as the principal <add>sum</add> of the Bill is concerned, is<lb/>
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| on the market. That is a persons <del>in</del> <unclear>open</unclear><lb/>
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| no obligation to do that which is requisite, att<gap/>tions.<lb/>
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| But less again behold the consequence<lb/>
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| This paper Government is unable to circulate<lb/> | |
| at any less interest than 5 1/3 per cent: and <add>yet</add> the<lb/>
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| proposed new paper is <unclear>reported</unclear> to be circulated<lb/>
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| at an interest<add>a rate of</add> sca<gap/> so high as 3 per cent!<lb/><pb/>
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