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<p><unclear> nominally </unclear>(as we shall see) | <p><unclear> nominally </unclear>(as we shall see) 3 per Cent, is perhaps<lb/> | ||
the most common: but instances of 2 1/2<lb/> | the most common: but instances of 2 1/2<lb/> | ||
per cent and | per cent and that in the same way a nominal<lb/> | ||
rate are<gap/> not | rate are<gap/> not wanting. The real <unclear>rate</unclear> <lb/> | ||
this much may be | <hi rend="superscript">this much may be said <unclear>in</unclear> general <unclear>terms</unclear> — that <unclear>it</unclear</hi><del><gap/></del> is <unclear>in every instance <hi rend="superscript">very</hi> considerably less:<lb/> | ||
<del><gap/></del> is <unclear>in every instance | though by what <unclear>precise amount</unclear> — such are<lb/> | ||
the nature of the circumstances by which it is <lb/> | |||
<unclear>redeemed </unclear> it is impossible to say. In some<lb/> | |||
instances where a <unclear>nominal</unclear> 3 per Cent is<lb/> | |||
instances where a <unclear>nominal</unclear> 3 per | allowed, a note <unclear>has</unclear> 6 months to run without<lb/> | ||
allowed, a | |||
any interest, before interest at that rate<lb/> | any interest, before interest at that rate<lb/> | ||
is to be paid upon it: so that for the first <del>year</del><lb/> | is to be paid upon it: so that for the first <del>year</del><lb/> | ||
6 months the <unclear>nominal</unclear> 3 per cent amounts<lb/> | 6 months the <unclear>nominal</unclear> 3 per cent amounts<lb/> | ||
to <unclear>nothing</unclear> and for <add>in <gap/></add> twelve months it amounts<lb/> | to <unclear>nothing</unclear> and for <add>in <gap/></add> twelve months it amounts<lb/> | ||
to no more than 1 1/2 per cent, | to no more than 1 1/2 per cent, nor indeed<lb/> | ||
correctly | correctly speaking to so much. In other<lb/> | ||
instances the | instances the note is <del><gap/></del> payable not on demand<lb/> | ||
but at a certain number of days —<lb/> | but at a certain number of days —<lb/> | ||
say one and twenty — after <gap/>: so that<lb/> | say one and twenty — after <gap/>: so that<lb/> | ||
nominally (as we shall see) 3 per Cent, is perhaps
the most common: but instances of 2 1/2
per cent and that in the same way a nominal
rate are not wanting. The real rate
this much may be said in general terms — that <unclear>it</unclear is in every instance very considerably less:
though by what <unclear>precise amount — such are
the nature of the circumstances by which it is
redeemed it is impossible to say. In some
instances where a nominal 3 per Cent is
allowed, a note has 6 months to run without
any interest, before interest at that rate
is to be paid upon it: so that for the first year
6 months the nominal 3 per cent amounts
to nothing and for in twelve months it amounts
to no more than 1 1/2 per cent, nor indeed
correctly speaking to so much. In other
instances the note is payable not on demand
but at a certain number of days —
say one and twenty — after : so that
the obligation of waiting one and twenty
days and upwards the advantage in repent
of interest is clogged with the of
— or at any rate of the is performed
by letter, with and a ,
with or without the of
.
