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affording a presumption that no such low<add>inferior</add> rate<lb/> | affording a presumption that no such low<add>inferior</add> rate<lb/> | ||
of interest as is proposed will be accepted of by the <lb/> | of interest as is proposed will be accepted of by the <lb/> | ||
public in the case of a paper<add>a mass of annuity</add> the < | public in the case of a paper<add>a mass of annuity</add> the <unclear>value</unclear> of which<lb/> | ||
depends upon its <unclear>passing</unclear> in circulation <del>for the</del>< | depends upon its <unclear>passing</unclear> in circulation <del>for the</del> <add>at & from</add><lb/> | ||
corresponding to the principal of that rate of interest<lb/> | corresponding to the principal of that rate of interest<lb/> | ||
is that of the existing < | is that of the existing <unclear>price</unclear> of Government paper<lb/> | ||
<unclear>called an</unclear> Exchequer <unclear>Bill</unclear>.<lb/> | <unclear>called an</unclear> Exchequer <unclear>Bill</unclear>.<lb/> | ||
The Exchequer Bill <unclear> | The Exchequer Bill <unclear>thus</unclear> it is (it may be <unclear>called</unclear>)<lb/> | ||
that among the persons who < | that among the persons who <unclear>accept</unclear> of this <unclear>price</unclear><lb/> | ||
of paper as an equivalent for cash there are<lb/> | of paper as an equivalent for cash there are<lb/> | ||
many to the <gap/> of & when < | many to the <gap/> of & when <unclear>options</unclear> it may it may be necessary<lb/> | ||
that the cash should <add>corresponding quantity</add>be forthcoming <add>in this <unclear>hand</unclear></add> at a<lb/> | that the cash should <add>corresponding quantity</add>be forthcoming <add>in this <unclear>hand</unclear></add> at a<lb/> | ||
<gap/>ad | <gap/>ad <unclear>inferior</unclear> to that at which Government undertakes<lb/> | ||
either to give cash for it or to accept it<lb/> | |||
<foreign>in lieu</foreign> of cash, and whose <gap/><add> | <foreign>in lieu</foreign> of cash, and whose <gap/><add>dependence</add> therefore as<lb/> | ||
far as the principal <add>sum</add> of the Bill is concerned, is<lb/> | far as the principal <add>sum</add> of the Bill is concerned, is<lb/> | ||
on the market. That is a persons <del>in</del> <unclear>open</unclear><lb/> | on the market. That is a persons <del>in</del> <unclear>open</unclear><lb/> | ||
no obligation to do that which is requisite, | no obligation to do that which is requisite, <unclear>intentions</unclear>.<lb/> | ||
But less again behold the consequence<lb/> | But less again behold the consequence<lb/> | ||
This paper Government is unable to circulate<lb/> | This paper Government is unable to circulate<lb/> | ||
Another instanceprecident that may be endowedalledged
affording a presumption that no such lowinferior rate
of interest as is proposed will be accepted of by the
public in the case of a papera mass of annuity the value of which
depends upon its passing in circulation for the at & from
corresponding to the principal of that rate of interest
is that of the existing price of Government paper
called an Exchequer Bill.
The Exchequer Bill thus it is (it may be called)
that among the persons who accept of this price
of paper as an equivalent for cash there are
many to the of & when options it may it may be necessary
that the cash should corresponding quantitybe forthcoming in this hand at a
ad inferior to that at which Government undertakes
either to give cash for it or to accept it
in lieu of cash, and whose dependence therefore as
far as the principal sum of the Bill is concerned, is
on the market. That is a persons in open
no obligation to do that which is requisite, intentions.
But less again behold the consequence
This paper Government is unable to circulate
at any less interest than 5 1/3 per cent: and yet the
proposed new paper is reported to be circulated
at an interesta rate of sca so high as 3 per cent!
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Identifier: | JB/002/534/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
annuity notes |
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534 |
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001 |
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text sheet |
1 |
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recto |
e5 |
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jeremy bentham |
1798 a<…> |
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frances wright |
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1798 |
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1273 |
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