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<p>Not many years ago a private Banking<lb/> House opened with the offer of allowing three per<lb/> cent to all its customers, on condition that draughts <lb/>should not be drawn till after a short interval<lb/> (ten days or some such matter) of notice. Money<lb/> poured in so fast, (so much faster than <del>it was<lb/> possible for</del> the House found it practicable to place <lb/>it out <add>to profit</add> in such security as would enable<lb/> provide cash at all <add>on demand</add> times in sufficient abundance <lb/>to answer the draughts) that in a very <lb/>short time <del>the</del> it was found necessary to shut <add>close</add> the <lb/><add>the business</add> door against such customers.</p> | <p>Not many years ago a private Banking<lb/> House opened with the offer of allowing three per<lb/> cent to all its customers, on condition that draughts <lb/>should not be drawn till after a short interval<lb/> (ten days or some such matter) of notice. Money<lb/> poured in so fast, (so much faster than <del>it was<lb/> possible for</del> the House found it practicable to place <lb/>it out <add>to profit</add> in such security as would enable<lb/> provide cash at all <add>on demand</add> times in sufficient abundance <lb/>to answer the draughts) that in a very <lb/>short time <del>the</del> it was found necessary to shut <add>close</add> the <lb/><add>the business</add> door against such customers.</p> | ||
<p>From <add>By</add> this example it appears <add>seems to have been proved</add> that three <lb/>per cent <lb/><hi rend='superscript'>[+]</hi> <note><hi rend='superscript'>[+]</hi> is a rate of interest which a man will be content to take <del>for</del></note> <lb/>is a sufficient rate of interest to allow<lb/> for a temporary sum, for <del>a sum</del> money, which<lb/> | |||
9 Novr 1802 Letter 2 of 3 XVI(3 (3
Not many years ago a private Banking
House opened with the offer of allowing three per
cent to all its customers, on condition that draughts
should not be drawn till after a short interval
(ten days or some such matter) of notice. Money
poured in so fast, (so much faster than it was
possible for the House found it practicable to place
it out to profit in such security as would enable
provide cash at all on demand times in sufficient abundance
to answer the draughts) that in a very
short time the it was found necessary to shut close the
the business door against such customers.
From By this example it appears seems to have been proved that three
per cent
[+] [+] is a rate of interest which a man will be content to take for
is a sufficient rate of interest to allow
for a temporary sum, for a sum money, which
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Identifier: | JB/116/039/002"JB/" can not be assigned to a declared number type with value 116. |
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1802-11-09 |
not numbered |
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116 |
panopticon versus new south wales |
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039 |
letter 3 |
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002 |
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collectanea |
1 |
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recto |
e3 |
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jeremy bentham; john herbert koe |
tw 1794 |
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francis hall |
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1794 |
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37572 |
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