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<p> <note>34</note> <lb/> 1 <note> Annuity Notes</note><lb/> </p> <p> <note> Ch. Grounds<lb/> VII. Universal<lb/> 36 (a)<lb/> <hi rend="underline">Small scale</hi>, what?</note></p><p> <!-- note added in red ink --><note>Confer and refer to <foreign><hi rend="underline">suppra</hi></foreign></note></p> <p> Note<lb/> (a) By <del>The</del> a small scale is meant on the <lb/> present occasion, every scale, under the least<lb/> in which the amount of the hoard in question <lb/> would be capable of being <del>invested in the </del> <add> placed out at interest</add><lb/> <del> purchase of government securities (with</del> <add> in any existing branch of the public market, with</add> adequate<lb/> <hi rend="underline">security</hi>, <hi rend="underline">profit</hi> and <hi rend="underline">facility</hi>. In point<lb/> of <hi rend="underline">security</hi> the only deficiency which the public<lb/> market is considered as exposed to labour under<lb/> is that <del>of the</del> which corresponds to the <lb/> danger of <sic>depretiation.</sic> This <add> though it </add> never extends to <lb/> the whole of the principal, <del>may</del> <add>is</add> however but too <lb/> apt not only to swallow up the whole of the <lb/> profit on the score of interest, <add>but</add> to swallow up<lb/> a considerable part of the principal <add> besides.</add> In point<lb/> of <hi rend="underline">profit,</hi> the deficiency arises <add> is produced</add> partly by the <lb/> expenses which attend on the purchase of<lb/> and eventual resale of that species of government <lb/> security which <del> may be</del> <add> is capable of being</add> purchased in any quantity,<lb/> partly in those which attend in the receipt<lb/> of interest: viz: stamp duties or power<lb/> of Attorney, fees of Brokers, and of Agents in Town<lb/> and Country, or else expense and loss of time by<lb/> personal attendance — <add> a charge</add> which taking the <gap/><lb/> <del> through would be beyond compare greater <add> not to appear at, would in reality</add> </del> <lb/> through, would (though not so apparent) be beyond <lb/> comparison greater than that of agency. In <lb/> point of facility the deficiency arises <del><gap/></del> from the <lb/> want of a market at hand <del>a</del> such as that which<lb/> would be afforded by the Local Offices as proposed <lb/> <del> This exact circumstance <add> obstacle</add> is altogether a distant and<lb/> additional one over and above that which is contributed <lb/> by the expense <add> By</add> the expense, takes away the inducement<lb/> <!-- continued in margin --> to engage in<lb/> the transaction is<lb/> diminished or taken<lb/> away: by the want <lb/> of facility, as here<lb/> exemplified, the very<lb/> idea of engaging<lb/> in the transaction is<lb/> prevented from presenting itself.</del></p> | <p> <note>34</note> <lb/> 1 <note> Annuity Notes</note><lb/> </p> <p> <note> Ch. Grounds<lb/> VII. Universal<lb/> 36 (a)<lb/> <hi rend="underline">Small scale</hi>, what?</note></p><p> <!-- note added in red ink --><note>Confer and refer to <foreign><hi rend="underline">suppra</hi></foreign></note></p> <p> Note<lb/> (a) By <del>The</del> a small scale is meant on the <lb/> present occasion, every scale, under the least<lb/> in which the amount of the hoard in question <lb/> would be capable of being <del>invested in the </del> <add> placed out at interest</add><lb/> <del> purchase of government securities (with</del> <add> in any existing branch of the public market, with</add> adequate<lb/> <hi rend="underline">security</hi>, <hi rend="underline">profit</hi> and <hi rend="underline">facility</hi>. In point<lb/> of <hi rend="underline">security</hi> the only deficiency which the public<lb/> market is considered as exposed to labour under<lb/> is that <del>of the</del> which corresponds to the <lb/> danger of <sic>depretiation.</sic> This <add> though it </add> never extends to <lb/> the whole of the principal, <del>may</del> <add>is</add> however but too <lb/> apt not only to swallow up the whole of the <lb/> profit on the score of interest, <add>but</add> to swallow up<lb/> a considerable part of the principal <add> besides.</add> In point<lb/> of <hi rend="underline">profit,</hi> the deficiency arises <add> is produced</add> partly by the <lb/> expenses which attend on the purchase of<lb/> and eventual resale of that species of government <lb/> security which <del> may be</del> <add> is capable of being</add> purchased in any quantity,<lb/> partly in those which attend in the receipt<lb/> of interest: viz: stamp duties or power<lb/> of Attorney, fees of Brokers, and of Agents in Town<lb/> and Country, or else expense and loss of time by<lb/> personal attendance — <add> a charge</add> which taking the <gap/><lb/> <del> through would be beyond compare greater <add> not to appear at, would in reality</add> </del> <lb/> through, would (though not so apparent) be beyond <lb/> comparison greater than that of agency. In <lb/> point of facility the deficiency arises <del><gap/></del> from the <lb/> want of a market at hand <del>a</del> such as that which<lb/> would be afforded by the Local Offices as proposed <lb/> <del> This exact circumstance <add> obstacle</add> is altogether a distant and<lb/> additional one over and above that which is contributed <lb/> by the expense <add> By</add> the expense, takes away the inducement<lb/> <!-- continued in margin --> to engage in<lb/> the transaction is<lb/> diminished or taken<lb/> away: by the want <lb/> of facility, as here<lb/> exemplified, the very<lb/> idea of engaging<lb/> in the transaction is<lb/> prevented from presenting itself.</del></p> | ||
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34
1 Annuity Notes
Ch. Grounds
VII. Universal
36 (a)
Small scale, what?
Confer and refer to suppra
Note
(a) By The a small scale is meant on the
present occasion, every scale, under the least
in which the amount of the hoard in question
would be capable of being invested in the placed out at interest
purchase of government securities (with in any existing branch of the public market, with adequate
security, profit and facility. In point
of security the only deficiency which the public
market is considered as exposed to labour under
is that of the which corresponds to the
danger of depretiation. This though it never extends to
the whole of the principal, may is however but too
apt not only to swallow up the whole of the
profit on the score of interest, but to swallow up
a considerable part of the principal besides. In point
of profit, the deficiency arises is produced partly by the
expenses which attend on the purchase of
and eventual resale of that species of government
security which may be is capable of being purchased in any quantity,
partly in those which attend in the receipt
of interest: viz: stamp duties or power
of Attorney, fees of Brokers, and of Agents in Town
and Country, or else expense and loss of time by
personal attendance — a charge which taking the
through would be beyond compare greater not to appear at, would in reality
through, would (though not so apparent) be beyond
comparison greater than that of agency. In
point of facility the deficiency arises from the
want of a market at hand a such as that which
would be afforded by the Local Offices as proposed
This exact circumstance obstacle is altogether a distant and
additional one over and above that which is contributed
by the expense By the expense, takes away the inducement
to engage in
the transaction is
diminished or taken
away: by the want
of facility, as here
exemplified, the very
idea of engaging
in the transaction is
prevented from presenting itself.
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Identifier: | JB/002/575/001"JB/" can not be assigned to a declared number type with value 2. |
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jeremy bentham |
1798 a<…> |
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frances wright |
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1798 |
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