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<head>11</head> | |||
<p>The experiment, it may <sic>occurr</sic> will be an expensive <lb/> one, since as nothing can be foreknown with<lb/> regard to the degree of its success, cash must be <del>kept</del> <lb/>provided beforehand and kept in store sufficient to <lb/>answer all demands that can be made, as well as to<lb/> cover all deficiencies that can take place on this account<lb/> in the [Government] receipts on the account of <lb/>Government. But to be thus in readiness it must have<lb/> borrowed, which it can not be at a less rate than<lb/> 5 per Cent, to which if <del>after all</del> in order to induce<lb/> people to take them in the infancy of the experiment<lb/> it should be necessary to give <add>allow</add> a discount on them, there <lb/>must be added the amount of that discount.</p> | |||
<p>It should seem however neither proper nor necessary<lb/> to <del>give</del> allow any such discount. — Not proper, because<lb/> if the Notes thus issued were to be received<lb/> at any time by the Government offices as cash or changed at the new office appointed for that purpose <lb/>the allowing <add>allowance of </add>the discount would be a present made to<lb/> the bearer without any advantage. <del>He would be pay</del>.<lb/> Whoever took a Bill with such discount, though it were <lb/>but an 1/8 per cent would immediately take it to the<lb/> office where he could get the full amount of it: <add>allowing</add> paying<lb/> the discount would be paying so much porterage for<lb/> carrying the Bill from one office to the other <add>another</add>. <unclear>So</unclear> <lb/>any discount event he smallest would therefore be <del><gap/></del> <gap/> <lb/> and improper, <add>the allowance of it</add> it should seem accordingly not to be necessary: <lb/> <del>nor even</del> inasmuch as it can not well be imagined <lb/>that a man would refuse at one office a Note of which he could get the full amount at another.</p> | |||
11
The experiment, it may occurr will be an expensive
one, since as nothing can be foreknown with
regard to the degree of its success, cash must be kept
provided beforehand and kept in store sufficient to
answer all demands that can be made, as well as to
cover all deficiencies that can take place on this account
in the [Government] receipts on the account of
Government. But to be thus in readiness it must have
borrowed, which it can not be at a less rate than
5 per Cent, to which if after all in order to induce
people to take them in the infancy of the experiment
it should be necessary to give allow a discount on them, there
must be added the amount of that discount.
It should seem however neither proper nor necessary
to give allow any such discount. — Not proper, because
if the Notes thus issued were to be received
at any time by the Government offices as cash or changed at the new office appointed for that purpose
the allowing allowance of the discount would be a present made to
the bearer without any advantage. He would be pay.
Whoever took a Bill with such discount, though it were
but an 1/8 per cent would immediately take it to the
office where he could get the full amount of it: allowing paying
the discount would be paying so much porterage for
carrying the Bill from one office to the other another. So
any discount event he smallest would therefore be
and improper, the allowance of it it should seem accordingly not to be necessary:
nor even inasmuch as it can not well be imagined
that a man would refuse at one office a Note of which he could get the full amount at another.
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Identifier: | JB/002/366/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
annuity notes |
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366 |
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001 |
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text sheet |
1 |
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recto |
e11 |
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jeremy bentham |
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1105 |
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