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<p> <note>Note</note> <note>29</note></p> <p> <note>Ch Grounds<lb/> VI. <sic>Depretiation</sic></note></p><p><note> 32<hi rend="superscript">(a)</hi><lb/> Illustration<lb/> Suppose a <hi rend="underline">sudden</hi><lb/> demand for Bullion<lb/> to the amount of<lb/> £4,000,000</note></p> <p> <del>Suppose the <add> amount of the</add> extra demand for Bullion in<lb/> the compass</del></p><p> Note<lb/> (a) <del>Suppose</del> <add>Call</add> the amount of the Annuity Note paper<lb/> that would have been purchased in the way of<lb/> issue <add> in the course of the year</add> had it not been for the <add>supposed</add> extra demand<lb/> for Bullion, £4,000,000: <del>or in the course of</del><lb/>if the amount of the demand does not exceed<lb/> the £4,000,000 it can not have the effect<lb/> of depressing the price of the paper in the way<lb/> of circulation, in the smallest degree: and if the <lb/> <add> extra</add> demand amounts to more, for example £5,000,000<lb/> its effect in the way of <sic>depretiation</sic> will be not<lb/> in proportion to the whole £5,000,000, but in proportion<lb/> only to <add> to no more than</add> the difference between that and<lb/> the £4,000,000, viz: £1,000,000.</p> <p>The case would certainly be different, if<lb/> the <add> £4,000,000</add> extra demand <add>in question</add> were supposed to be confined<lb/> to a space of three months, or one month, while<lb/> the <del> amount of the issue £4</del> four or five millions<lb/>worth of Annuity Note paper that would otherwise<lb/> have been <del>taken out of</del> <add>positioned</add> in the way of issue is supposed<lb/> to be spread over the whole year: but of<lb/>suppositions this gratuitous there would be no end.</p> <p> <del> It would be found to make little difference to this<lb/> purpose, whether <hi rend="superscript">[+]</hi> <note> [+] at the period in question</note> <add>total</add> quantity of Annuity Note paper issued<lb/> over smaller or <foreign>gratis,</foreign> and the <gap/> <add> row of</add> progress more<lb/> or less <gap/> the <sic>expence</sic> </del> </p> <p> According to the authorities above referred to, it<lb/> appears that supplies to foreign powers have been furnished <add> defrayed</add><lb/> partly by goods, <add> of British export</add> partly by foreign coin purchased with such<lb/> goods: and that there is reason to believe that <del>the aggregate</del> <hi rend="superscript">[+]</hi> <note> [+] notwithstanding the <gap/> demand for bullion for exportation that has subsisted of late years</note><lb/> of the aggregate of the defalcation <del>made</del> produced<lb/> <del>by</del> that even from the quantity of British coin, has not amounted<lb/> in a course of years to <del>more than between</del> <add> so much as</add> £75,000.</p> | <p> <note>Note</note> <note>29</note></p> | ||
<p> <note>Ch Grounds<lb/> VI. <sic>Depretiation</sic></note></p> | |||
<p><note> 32<hi rend="superscript">(a)</hi><lb/> Illustration<lb/> Suppose a <hi rend="underline">sudden</hi><lb/> demand for Bullion<lb/> to the amount of<lb/> £4,000,000</note></p> | |||
<p> <del>Suppose the <add> amount of the</add> extra demand for Bullion in<lb/> the compass</del></p> | |||
<p> Note<lb/> (a) <del>Suppose</del> <add>Call</add> the amount of the Annuity Note paper<lb/> that would have been purchased in the way of<lb/> issue <add> in the course of the year</add> had it not been for the <add>supposed</add> extra demand<lb/> for Bullion, £4,000,000: <del>or in the course of</del><lb/>if the amount of the demand does not exceed<lb/> the £4,000,000 it can not have the effect<lb/> of depressing the price of the paper in the way<lb/> of circulation, in the smallest degree: and if the <lb/> <add> extra-</add> demand amounts to more, for example £5,000,000<lb/> its effect in the way of <sic>depretiation</sic> will be not<lb/> in proportion to the whole £5,000,000, but in proportion<lb/> only to <add> to no more than</add> the difference between that and<lb/> the £4,000,000, viz: £1,000,000.</p> | |||
<p>The case would certainly be different, if<lb/> the <add> £4,000,000</add> extra demand <add>in question</add> were supposed to be confined<lb/> to a space of three months, or one month, while<lb/> the <del> amount of the issue £4</del> four or five millions<lb/>worth of Annuity Note paper that would otherwise<lb/> have been <del>taken out of</del> <add>positioned</add> in the way of issue is supposed<lb/> to be spread over the whole year: but of<lb/>suppositions this gratuitous there would be no end.</p> | |||
<p> <del> It would be found to make little difference to this<lb/> purpose, whether <hi rend="superscript">[+]</hi> <note> [+] at the period in question</note> <add>total</add> quantity of Annuity Note paper issued<lb/> over smaller or <foreign>gratis,</foreign> and the <gap/> <add> row of</add> progress more<lb/> or less <gap/> the <sic>expence</sic> </del> </p> <p> According to the authorities above referred to, it<lb/> appears that supplies to foreign powers have been furnished <add> defrayed</add><lb/> partly by goods, <add> of British export</add> partly by foreign coin purchased with such<lb/> goods: and that there is reason to believe that <del>the aggregate</del> <hi rend="superscript">[+]</hi> <note> [+] notwithstanding the <gap/> demand for bullion for exportation that has subsisted of late years</note><lb/> of the aggregate of the defalcation <del>made</del> produced<lb/> <del>by</del> that even from the quantity of British coin, has not amounted<lb/> in a course of years to <del>more than between</del> <add> so much as</add> £75,000.</p> | |||
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Note 29
Ch Grounds
VI. Depretiation
32(a)
Illustration
Suppose a sudden
demand for Bullion
to the amount of
£4,000,000
Suppose the amount of the extra demand for Bullion in
the compass
Note
(a) Suppose Call the amount of the Annuity Note paper
that would have been purchased in the way of
issue in the course of the year had it not been for the supposed extra demand
for Bullion, £4,000,000: or in the course of
if the amount of the demand does not exceed
the £4,000,000 it can not have the effect
of depressing the price of the paper in the way
of circulation, in the smallest degree: and if the
extra- demand amounts to more, for example £5,000,000
its effect in the way of depretiation will be not
in proportion to the whole £5,000,000, but in proportion
only to to no more than the difference between that and
the £4,000,000, viz: £1,000,000.
The case would certainly be different, if
the £4,000,000 extra demand in question were supposed to be confined
to a space of three months, or one month, while
the amount of the issue £4 four or five millions
worth of Annuity Note paper that would otherwise
have been taken out of positioned in the way of issue is supposed
to be spread over the whole year: but of
suppositions this gratuitous there would be no end.
It would be found to make little difference to this
purpose, whether [+] [+] at the period in question total quantity of Annuity Note paper issued
over smaller or gratis, and the row of progress more
or less the expence
According to the authorities above referred to, it
appears that supplies to foreign powers have been furnished defrayed
partly by goods, of British export partly by foreign coin purchased with such
goods: and that there is reason to believe that the aggregate [+] [+] notwithstanding the demand for bullion for exportation that has subsisted of late years
of the aggregate of the defalcation made produced
by that even from the quantity of British coin, has not amounted
in a course of years to more than between so much as £75,000.
