★ Find a new page to transcribe in our list of Untranscribed Manuscripts
No edit summary |
No edit summary |
||
| Line 2: | Line 2: | ||
<!-- ENTER TRANSCRIPTION BELOW THIS LINE --> | <!-- ENTER TRANSCRIPTION BELOW THIS LINE --> | ||
<head>16 Aug. 1800 + Note</head> | |||
<head>Note <gap/> to p. 38.</head> | |||
<note>Note | |||
<gap/> <gap/> <gap/> | |||
2 (a) | |||
Cause of the security against <sic>depretiation</sic></note> | |||
<del>An engagement</del> A government engagement could not<lb/> | <del>An engagement</del> A government engagement could not<lb/> | ||
| Line 8: | Line 18: | ||
for <del>its</del> the pre-existence of Stock Annuities, and<lb/> | for <del>its</del> the pre-existence of Stock Annuities, and<lb/> | ||
its connection with them, as above. The exigencies<lb/> | its connection with them, as above. The exigencies<lb/> | ||
of government, not being susceptible of limitation, | of government, not being susceptible of limitation,<lb/> | ||
no species of engagement could be offered of which the<lb/> | no species of engagement could be offered of which the<lb/> | ||
<unclear>price</unclear> should be <unclear>fixed</unclear>, and the quantity limited to <lb/> | <unclear>price</unclear> should be <unclear>fixed</unclear>, and the quantity limited to <lb/> | ||
16 Aug. 1800 + Note
Note to p. 38.
Note
2 (a) Cause of the security against depretiation
An engagement A government engagement could not
like this, have been rendered depretiation-proof, but
for its the pre-existence of Stock Annuities, and
its connection with them, as above. The exigencies
of government, not being susceptible of limitation,
no species of engagement could be offered of which the
price should be fixed, and the quantity limited to
what could be disposed of at that price, unless there but for the
co-existence of some other species of engagement, unlimited
in quantity, respect of the quantity offered at market & fixed and therefore subjected to
an unlimited diminution of price.
