★ Find a new page on our Untranscribed Manuscripts list.
No edit summary |
No edit summary |
||
| Line 2: | Line 2: | ||
<!-- ENTER TRANSCRIPTION BELOW THIS LINE --> | <!-- ENTER TRANSCRIPTION BELOW THIS LINE --> | ||
<p> <note>31</note></p> <p> <note>Ch. Grounds</note><lb/> <note> VI. <sic>Depretiation</sic><lb/> 34<lb/> Objection — an<lb/> extra demand for the<lb/> portions in include is <lb/> probable, because<lb/> the tendency of this<lb/> paper is to <sic>expel</sic><lb/> them</note></p> <p> It may still be supposed, <add> A supposition that may still be made, is</add>that <add>among</add> the effects of<lb/> the proposed paper will be the expulsion of <lb/> a great part — say by far the greater part<lb/> — of the existing quantity of hard cash: and in <lb/> that event a demand for bullion, such as<lb/> in the present state of the metallic part of the <lb/> currency would not <del>reach</del> <add> affect</add> the proposed paper<lb/> currency, to such a degree as to operate a <add> produce a</add><lb/> <sic>depretiation</sic> <add><sic>discrease</sic></add> in the circulation price, might be productive<lb/ of that effect.</p> <p> <note>35<lb/> Answer — <gap/><lb/> for<lb/> 1. It can not be<lb/> <sic>shewn</sic> here it possesses<lb/> that tendency</note></p> <p> <note> 2 <del>E</del> <foreign>contra</foreign> it<lb/> supposes and necessitates<lb/> a certain<lb/> quantity of coin</note></p> <p><!-- note in red ink --> <note> Which private Bankers<lb/> paper does not</note></p> <p><del>In</del>this is may be answered — <lb/>1. That it does not appear in what precise<lb/> way, or by what means in particular <del>a</del><lb/> any such expulsion is ever likely to be produced.</p> <p> 2. That on the contrary a demand for a <lb/> certain quantity of hard cash is necessarily<lb/> kept up by the cause here supposed to lessen<lb/> the quantity: since no Annuity note is ever<lb/> to be issued but in exchange for cash, or <lb/> in exchange for a Note or Notes to equal<lb/> amount that have been purchased by hard<lb/> cash.</p> <p> <note> 3. Were <del>the</del> <add> such</add> expectation<lb/> to be produced<lb/>by the paper, it<lb/> could not be <sic>till</sic> <lb> after a great profit<lb/> had been reaped<lb/> from it.</note> </p> <p> 3. That supposing any such expulsion to have <lb/> taken place it can not have taken place <sic>till</sic><lb/> after a profit <del>said that to a <gap/></del> has been<lb/> made by the emission, and that to so great<lb/> amount as to afford an ample fund for up<lb/> <gap/> the price of it in such way as hath<lb/> been already hinted, against any such casual<lb/> and temporary causes of <sic>depretiation:</sic> for others than<lb/> casual or temporary such cases can never<lb/> be.</p> | |||
<!-- DO NOT EDIT BELOW THIS LINE --> | <!-- DO NOT EDIT BELOW THIS LINE --> | ||
{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}} | ||
31
Ch. Grounds
VI. Depretiation
34
Objection — an
extra demand for the
portions in include is
probable, because
the tendency of this
paper is to expel
them
It may still be supposed, A supposition that may still be made, isthat among the effects of
the proposed paper will be the expulsion of
a great part — say by far the greater part
— of the existing quantity of hard cash: and in
that event a demand for bullion, such as
in the present state of the metallic part of the
currency would not reach affect the proposed paper
currency, to such a degree as to operate a produce a
depretiation discrease in the circulation price, might be productive<lb/ of that effect.
35
Answer —
for
1. It can not be
shewn here it possesses
that tendency
2 E contra it
supposes and necessitates
a certain
quantity of coin
Which private Bankers
paper does not
Inthis is may be answered —
1. That it does not appear in what precise
way, or by what means in particular a
any such expulsion is ever likely to be produced.
2. That on the contrary a demand for a
certain quantity of hard cash is necessarily
kept up by the cause here supposed to lessen
the quantity: since no Annuity note is ever
to be issued but in exchange for cash, or
in exchange for a Note or Notes to equal
amount that have been purchased by hard
cash.
3. Were the such expectation
to be produced
by the paper, it
could not be till <lb> after a great profit
had been reaped
from it.
3. That supposing any such expulsion to have
taken place it can not have taken place till
after a profit said that to a has been
made by the emission, and that to so great
amount as to afford an ample fund for up
the price of it in such way as hath
been already hinted, against any such casual
and temporary causes of depretiation: for others than
casual or temporary such cases can never
be.
