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<p><add>seems</add> to be that in the event of the conversion of the present<lb/> stock of Navy Bills into Exchequer Bills, the latter<lb/> would not <unclear>preserve</unclear> the whole of their advantage,<lb/> nor lose the whole, but preserve a part, insomuch<lb/> that not the whole of the 1-1/4 per Cent or 1-1/2<lb/> per cent would be gained by government by the operation<lb/> but only a certain part of it: what <add><unclear>precise</unclear></add> part<lb/> of it is I believe more than any one will undertake <lb/>to say with confidence.</p> | <p><add>seems</add> to be that in the event of the conversion of the present<lb/> stock of Navy Bills into Exchequer Bills, the latter<lb/> would not <unclear>preserve</unclear> the whole of their advantage,<lb/> nor lose the whole, but preserve a part, insomuch<lb/> that not the whole of the 1-1/4 per Cent or 1-1/2<lb/> per cent would be gained by government by the operation<lb/> but only a certain part of it: what <add><unclear>precise</unclear></add> part<lb/> of it is I believe more than any one will undertake <lb/>to say with confidence.</p> | ||
<unclear>Even</unclear> this course to be pursued the simplest <lb/>mode of pursuing it would, it should seem, be this<lb/> <add>An Act to be passed in virtue of which</add> The Navy Board instead of giving a Navy Bill<lb/> to give a <sic>draught</sic> upon the <del>Exchequer</del>: Auditor of<lb/> the Exchequer: the Auditor <del><unclear>thereon</unclear></del> in payment of such<lb/> <sic>draught</sic> to make out an Exchequer Bill. Exchequer<lb/> Bills it may be said are not now made out but<lb/> to a certain amount predetermined by Parliament. | <p><unclear>Even</unclear> this course to be pursued the simplest <lb/>mode of pursuing it would, it should seem, be this<lb/> <add>An Act to be passed in virtue of which</add> The Navy Board instead of giving a Navy Bill<lb/> to give a <sic>draught</sic> upon the <del>Exchequer</del>: Auditor of<lb/> the Exchequer: the Auditor <del><unclear>thereon</unclear></del> in payment of such<lb/> <sic>draught</sic> to make out an Exchequer Bill. Exchequer<lb/> Bills it may be said are not now made out but<lb/> to a certain amount predetermined by Parliament.<lb/> But Parliament consenting, <add>authorizing</add> it is <add>would be</add> just as easy to make<lb/> out Bills to an amount <gap/> in the shape<lb/> of Exchequer Bills as in the shape of Navy Bills.</p> | ||
7
seems to be that in the event of the conversion of the present
stock of Navy Bills into Exchequer Bills, the latter
would not preserve the whole of their advantage,
nor lose the whole, but preserve a part, insomuch
that not the whole of the 1-1/4 per Cent or 1-1/2
per cent would be gained by government by the operation
but only a certain part of it: what precise part
of it is I believe more than any one will undertake
to say with confidence.
Even this course to be pursued the simplest
mode of pursuing it would, it should seem, be this
An Act to be passed in virtue of which The Navy Board instead of giving a Navy Bill
to give a draught upon the Exchequer: Auditor of
the Exchequer: the Auditor thereon in payment of such
draught to make out an Exchequer Bill. Exchequer
Bills it may be said are not now made out but
to a certain amount predetermined by Parliament.
But Parliament consenting, authorizing it is would be just as easy to make
out Bills to an amount in the shape
of Exchequer Bills as in the shape of Navy Bills.
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Identifier: | JB/002/364/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
annuity notes |
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364 |
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001 |
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recto |
e7 |
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jeremy bentham |
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1103 |
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