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<head>93</head> | |||
<p>This <del><gap/> <gap/></del> head of profit will <del><unclear>continue</unclear></del> <add>be an</add><lb/> | |||
<del>to the last, so long as a particle of National</del> | |||
<add>enduring one: no degree of plenitude on the part</add><lb/> | |||
<del>Debt continues unredeemed.</del> of the Exchequer will supercede it. <del>It would be</del><lb/> | |||
<del>bad economy</del></p> | |||
It is not with Exchequer Bills<lb/> | |||
<del>as</del> <add>as it was</add> with Navy Bills. It would <add>(as already observed Ch. 4.)</add> be bad economy<lb/> | |||
to <add>make and</add> keep <unclear>on foot</unclear> a <hi rend='underline'>perpetual</hi> loan to a <sic>a</sic> certain<lb/> | |||
<gap/>, in order to save <hi rend='underline'>occasional</hi><lb/> | |||
loans to the same amount, and at the same,<lb/> | |||
or nearly the same, rate of interest: <add>and to</add> <del>To</del> keep<lb/> | |||
in hand a <del><unclear>sum</unclear> to the</del> a <del><unclear>mass</unclear> of</del> <add>sum in</add> cash to<lb/> | |||
the same amount would come to the same<lb/> | |||
thing: <unclear>save</unclear>, by the application of that sum a<lb/> | |||
proportionable part of the perpetual Debt already<lb/> | |||
existing might be redeemed. The maximum<lb/> | |||
of advantage under this head is <add>therefore</add> what results<lb/> | |||
from keeping the rate of interest on such temporary<lb/> | |||
loans from rising <del>above or more than one</del> <add><del>or</del> more than</add><lb/> | |||
<del>step <unclear>above</unclear></del> <add>one step</add> the level of the rate <del>of</del> paid on<lb/> | |||
perpetual loans. | |||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}} | ||
93
This head of profit will continue be an
to the last, so long as a particle of National
enduring one: no degree of plenitude on the part
Debt continues unredeemed. of the Exchequer will supercede it. It would be
bad economy
It is not with Exchequer Bills
as as it was with Navy Bills. It would (as already observed Ch. 4.) be bad economy
to make and keep on foot a perpetual loan to a a certain
, in order to save occasional
loans to the same amount, and at the same,
or nearly the same, rate of interest: and to To keep
in hand a sum to the a mass of sum in cash to
the same amount would come to the same
thing: save, by the application of that sum a
proportionable part of the perpetual Debt already
existing might be redeemed. The maximum
of advantage under this head is therefore what results
from keeping the rate of interest on such temporary
loans from rising above or more than one or more than
step above one step the level of the rate of paid on
perpetual loans.
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Identifier: | JB/002/191/001"JB/" can not be assigned to a declared number type with value 2. |
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1800-08-24 |
7 |
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002 |
annuity notes |
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191 |
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001 |
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text sheet |
1 |
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|
recto |
d7 / f93 |
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|
jeremy bentham |
tw 1794 |
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francis hall |
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1794 |
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930 |
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