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To this the answer is that the comparative derivation <lb/> | <p>To this the answer is that the comparative derivation <lb/> | ||
of the <add> | of the <add>marketable</add>value of Exchequer Bills is <add>plainly</add> referable<lb/> | ||
to the conjoint operation of a variety of causes<lb/> | to the conjoint operation of a variety of causes<lb/> | ||
not one of which is applicable to the proposed paper<lb/> | not one of which is applicable to the proposed paper<lb/> | ||
These are -<lb/> | These are -<lb/> | ||
1. What the <add>The Annuity to which</add> the Exchequer Bill <del> | 1. What the <add>The Annuity to which</add> the Exchequer Bill <del>undertakes</del> conveys<lb/> | ||
no right to is not a perpetual Annuity, but<lb/> | no right to is not a perpetual Annuity, but<lb/> | ||
an Annuity if <unclear>such</unclear> it may be bound <del>lasting at</del><lb/> | |||
for a term: <add>subject to frequent uncertainties</add> sometimes for less than one year, | for a term: <add>subject to frequent uncertainties</add> sometimes for less than one year, however<lb/> | ||
for more than two years : | for more than two years : whereas the annuity<lb/> | ||
conveyed by a proposed Annuity <gap/> is an <lb/> | conveyed by a proposed Annuity <gap/> is an <lb/> | ||
annuity perpetual in the first instance<lb/> | annuity perpetual in the first instance<lb/> | ||
only | only for redemption on repayment of the principal<lb/> | ||
and <del>that annuity</del> at the same time if the family<lb/> | and <del>that annuity</del> at the same time if the <unclear>family</unclear><lb/> | ||
of | of <add>passing in</add>circulation be admitted, convertible by that means<lb/> | ||
into an Annuity for any shorter period at pleasure.<lb/> <del>The</del> Stock Annuities which yield rates<lb/> | into an Annuity for any shorter period at pleasure.<lb/> <del>The</del> Stock Annuities which yield rates<lb/> | ||
of interest above 3 per Cent, | of interest above 3 per Cent, viz. 4 and 8 per<lb/> | ||
Cent - Stock Annuities <add>of | Cent - Stock Annuities <add>of these classes</add> though perpetual unless<lb/> | ||
redeemed yet by the bare circumstances of being<lb/> | redeemed yet by the bare circumstances of being<lb/> | ||
subject to redemption coupled with the probability<lb/> | subject to redemption coupled with the probability<lb/> | ||
of | of anterior redemption grounded in the extra rate<lb/> | ||
of interest | of interest are subject to a <add>in the interest</add> degree of depreciation<lb/> | ||
<del>in the</del> which any body may | <del>in the</del> which any body may see in looking at<lb/> | ||
the | the prices of Stock as published in the daily papers<lb/> | ||
the Annuity deemed by an Exchequer Bill is<lb/> | the Annuity deemed by an Exchequer Bill is<lb/> | ||
<del>not</del> an Annuity which instead of being | <del>not</del> an Annuity which instead of being expired<lb/> | ||
to be paid off at the end of an uncertain number<lb/> | to be paid off at the end of an uncertain number<lb/> | ||
of years <del><gap/><gap/></del> is incapable of | of years <del><gap/><gap/></del> is incapable of lasting for so much<lb/> | ||
as two years.< | as two years.</p> | ||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}} | ||
To this the answer is that the comparative derivation
of the marketablevalue of Exchequer Bills is plainly referable
to the conjoint operation of a variety of causes
not one of which is applicable to the proposed paper
These are -
1. What the The Annuity to which the Exchequer Bill undertakes conveys
no right to is not a perpetual Annuity, but
an Annuity if such it may be bound lasting at
for a term: subject to frequent uncertainties sometimes for less than one year, however
for more than two years : whereas the annuity
conveyed by a proposed Annuity is an
annuity perpetual in the first instance
only for redemption on repayment of the principal
and that annuity at the same time if the family
of passing incirculation be admitted, convertible by that means
into an Annuity for any shorter period at pleasure.
The Stock Annuities which yield rates
of interest above 3 per Cent, viz. 4 and 8 per
Cent - Stock Annuities of these classes though perpetual unless
redeemed yet by the bare circumstances of being
subject to redemption coupled with the probability
of anterior redemption grounded in the extra rate
of interest are subject to a in the interest degree of depreciation
in the which any body may see in looking at
the prices of Stock as published in the daily papers
the Annuity deemed by an Exchequer Bill is
not an Annuity which instead of being expired
to be paid off at the end of an uncertain number
of years is incapable of lasting for so much
as two years.
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Identifier: | JB/002/533/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
annuity notes |
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533 |
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001 |
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text sheet |
1 |
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recto |
e6 |
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jeremy bentham |
1798 a<…> |
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frances wright |
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1798 |
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1272 |
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