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24 Feb 1800 | 24 Feb 1800 | ||
<p>This may still be < | <p><!-- Pencil header -->This may still be <unclear>consulted</unclear> though not employ'd</p> | ||
<p>The case of Exchequer Bills is here particularly <note>1 Annuity Notes<lb/> | <p><!-- Pencil header -->The case of Exchequer Bills is here particularly <note>1 Annuity Notes<lb/> | ||
Ch<lb/> | Ch<lb/> | ||
Circulation<lb/> | Circulation<lb/> | ||
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<p> | <p> | ||
By those to whom it may appear dubious<lb/> | By those to whom it may appear dubious<lb/> | ||
whether the proposed currency would | whether the proposed currency would if offered<lb/> | ||
to the <sic>publick</sic> be accepted as such and put<lb/> | to the <sic>publick</sic> be accepted as such and put<lb/> | ||
into general circulation, it may be objected - that<lb/> | into general circulation, it may be objected - that<lb/> | ||
<del>it will not pass in general circulation, because <add>inasmuch as</add></del><lb/> | <del>it will not pass in general circulation, because <add>inasmuch as</add></del><lb/> | ||
<del>there is no one person to<add>in</add> whom it | <del>there is no one person to<add>in</add> whom it is matter of obligation</del> <lb/> | ||
<del>to pay give cash for the for the principal sum</del><lb/> | <del>to pay give cash for the for the principal sum</del><lb/> | ||
<del>there is | <del>there is no person</del></p> | ||
<p>that it's passing in general circulation <del> for its denomination</del><lb/> | <p>that it's passing in general circulation <del> for its denomination</del><lb/> | ||
at the value put upon it viz: the principal<lb/> | at the value put upon it viz: the principal<lb/> | ||
sum demanded and taken for it by Government<lb/> | sum demanded and taken for it by Government,<lb/> | ||
depends <add>will depend</add>, on there being some determinate person<lb/> | depends <add>will depend</add>, on there being some determinate person<lb/> | ||
to resort to of whom the principal may be claimed<lb/> | to resort to of whom the principal may be claimed<lb/> | ||
who <del>is</del> not only is able but stands bound to <del> | who <del>is</del> not only is able but stands bound to <del>pay</del><lb/> | ||
give cash for that sum at some | give cash for that sum at some determinate point<lb/> | ||
of time - that <add>in respect of the principal</add> the paper in question presents no<lb/> | of time - that <add>in respect of the principal,</add> the paper in question presents no<lb/> | ||
such person - and that though in the instance<lb/> | such person - and that though in the instance<lb/> | ||
of the existing Stock Annuities this <del>objection is got</del><add>deficiency is not</add><lb/> | of the existing Stock Annuities this <del>objection is got</del><add>deficiency is not</add><lb/> | ||
an absolute bar to the obtainment of a principal<lb/> | an absolute bar to the obtainment of a principal<lb/> | ||
sum in exchange for the<add>in the way of transfer and </add> | sum in exchange for the<add>in the way of transfer and </add> annuity or interest, <add>undertaken to be</add> paid<lb/> | ||
by government, yet this principal not obtained | by government, yet this principal not obtained without<lb/> | ||
a discount and a discount so great as to <note><add>[+]</add> paid in the species<lb/> | a discount and a discount so great as to <note><add>[+]</add> paid in the species<lb/> | ||
of security so circumstanced</note><lb/> | of security so circumstanced</note><lb/> | ||
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to which it seems impossible to cause a positive<lb/> | to which it seems impossible to cause a positive<lb/> | ||
and at the same time a well grounded determination,<lb/> | and at the same time a well grounded determination,<lb/> | ||
antecedent<add>without the < | antecedent<add>without the <unclear>benef</unclear></add> to experience. That experience<lb/> | ||
time therefore appears to be the principal conclusion<lb/> | time therefore appears to be the principal conclusion<lb/> | ||
declared<add> | declared<add>suggested</add> by sound sense.</p> | ||
<p>much above that which is | <p>much above that which is preposed to be allowed.</p> | ||
<p>A consideration</p><pb/> | <p>A consideration</p><pb/> | ||
Click Here To Edit 24 Feb 1800
This may still be consulted though not employ'd
The case of Exchequer Bills is here particularly 1 Annuity Notes
Ch
Circulation
indubitable
Objection
considered.
By those to whom it may appear dubious
whether the proposed currency would if offered
to the publick be accepted as such and put
into general circulation, it may be objected - that
it will not pass in general circulation, because inasmuch as
there is no one person toin whom it is matter of obligation
to pay give cash for the for the principal sum
there is no person
that it's passing in general circulation for its denomination
at the value put upon it viz: the principal
sum demanded and taken for it by Government,
depends will depend, on there being some determinate person
to resort to of whom the principal may be claimed
who is not only is able but stands bound to pay
give cash for that sum at some determinate point
of time - that in respect of the principal, the paper in question presents no
such person - and that though in the instance
of the existing Stock Annuities this objection is gotdeficiency is not
an absolute bar to the obtainment of a principal
sum in exchange for thein the way of transfer and annuity or interest, undertaken to be paid
by government, yet this principal not obtained without
a discount and a discount so great as to [+] paid in the species
of security so circumstanced
cause the security raise the rate of interest to a pitch
It appears to be one of those points in relation
to which it seems impossible to cause a positive
and at the same time a well grounded determination,
antecedentwithout the benef to experience. That experience
time therefore appears to be the principal conclusion
declaredsuggested by sound sense.
much above that which is preposed to be allowed.
A consideration
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