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<note>Annuity Notes<lb/> | |||
There remain still a number of other Government<lb/> | SS Circulation<lb/> | ||
indubitable<lb/> | |||
15<lb/> | |||
-2. from the<lb/> | |||
Market for Exchequer<lb/> | |||
Bills and<lb/> | |||
other <gap/><lb/> | |||
composing the floating<lb/> | |||
debt.</note> | |||
<p>There remain still a number of other Government<lb/> | |||
Securities <del>by which</del> in the purchase of which<lb/> | Securities <del>by which</del> in the purchase of which<lb/> | ||
temporary sums may be invested so as to yield an<lb/> | temporary sums may be invested so as to yield an<lb/> | ||
interest and a rate of interest higher than that<add><gap/> 3 per Cent</add><lb/> | interest and a rate of interest higher than that<add><gap/> 3 per Cent</add><lb/> | ||
proposed to be proffered by the proposed Annuity<lb/> | proposed to be proffered by the proposed Annuity<lb/> | ||
Notes: I mean Exchequer Bills, Navy Bills, | Notes: I mean Exchequer Bills, Navy Bills, <gap/>alling <lb/> | ||
Bills. <add>Transport Bills, and Ordnance< Debentures.</add> Ordnance Bills: not to Speak of India<lb/> | |||
Bonds. But by different causes those different<lb/> | |||
sources of temporary income are rendered <del>one</del><lb/> | |||
comparatively unsuitable to the convenience of the<lb/> | |||
quantity of purchasers. One <del>thing they</del> circumstance<lb/> | |||
is common to th<del>em all view that their existence<lb/><lb/> | |||
is <del><gap/></del> limited to war time, and thence<add>from whence</add>. Another<lb/> | |||
circumstance common to them all is that<lb/> | |||
there is no market for them any where but in <lb/> | |||
one single place. A third disadvantage<lb/> | |||
belonging <add>applying</add> to them in common is that<lb/> | |||
the quantity of them is continually<add>instantly</add> liable to increase,<lb/> | |||
<add>as well as the time of payment to retardation,</add> | |||
<del>-crease</del> and thence their market value to depretiation,<lb/> | |||
to an unknown amount. Exchequer<lb/> | |||
Bills too are never issued <del>but</del> in<add>for</add> sums less than £100:<lb/> | |||
by which every mass of money less than that considerable<lb/> | |||
sum is excluded from this branch of the market, and<lb/> | |||
through in amounts of Navy Bills &c there is an<lb/> | |||
indefinite variety in the market, yrt the <del>sum</del> amount<lb/> | |||
of the sum in cash instance is always a matter of<lb/> | |||
accident, and <add>instead of being</add> is not at the purchaser's command <del><gap/></del><lb/> | |||
<del>the command of the</del></p> | |||
<p>But</p><pb/> | |||
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Annuity Notes
SS Circulation
indubitable
15
-2. from the
Market for Exchequer
Bills and
other
composing the floating
debt.
There remain still a number of other Government
Securities by which in the purchase of which
temporary sums may be invested so as to yield an
interest and a rate of interest higher than that 3 per Cent
proposed to be proffered by the proposed Annuity
Notes: I mean Exchequer Bills, Navy Bills, alling
Bills. Transport Bills, and Ordnance< Debentures. Ordnance Bills: not to Speak of India
Bonds. But by different causes those different
sources of temporary income are rendered one
comparatively unsuitable to the convenience of the
quantity of purchasers. One thing they circumstance
is common to them all view that their existence
is limited to war time, and thencefrom whence. Another
circumstance common to them all is that
there is no market for them any where but in
one single place. A third disadvantage
belonging applying to them in common is that
the quantity of them is continuallyinstantly liable to increase,
as well as the time of payment to retardation,
-crease and thence their market value to depretiation,
to an unknown amount. Exchequer
Bills too are never issued but infor sums less than £100:
by which every mass of money less than that considerable
sum is excluded from this branch of the market, and
through in amounts of Navy Bills &c there is an
indefinite variety in the market, yrt the sum amount
of the sum in cash instance is always a matter of
accident, and instead of being is not at the purchaser's command
the command of the
But
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