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14 Notes Art. 5 14 Annuity Notes
The following notes appear to be crossed out Plan 1. Conf
Art. 5. [1] Not to sell them for less on iss defalcation — Not inconvenient while may be at to any amount and at any price
Stet
Art. 5. p. 4. ( ) [Never at a less price] Steadiness of price is a property essential to a good paper currency. People will from a species of money the value of which appears liable to money in their hands. Banks proper, though unproductive to Holder tax with little from the terms of its , ever-upwards of a century been found possessed with of this property source a momentary exception as to time. It has been possessed as yet by any Government paper yielding interest. The expedient here proposed promises to be as effectual as it is simple.
The That which concerns the fixation of the price is the something useful essential article and sufficient: the restriction with regard to their making Loans in this shape is rather but little more than explanatory. If it can never be issued at a less price, either Loans can never by made in it, or if they are, the apprehended mischief do does not ensue, since no depression takes place in regard to the price. I
[+] [+] No Loan can ever be made in it at a greater price, so long as any of the existing Stock Annuities continue unredeemed, because so long as any protion of these Annuities continues unredeemed, the issue is by virtue of its 2nd article (Art. 6) to be kept op;en, and no man will pay £101 for an Annuity which he has a right to claim for £100.
A depression to this effect is not more exposed to evasion, than any other: every advantage whatsoever added to the Annuity, — every thing that to which the name of a douceur or bonus could be applied, would be an evasion, and such an evasion as could not be concealed. This would not hinder a quantity of the Annuity Note paper itself from being given in the way of a bonus on a Contract for Stock, if, for the purpose of giving a [+]2 [+]2 commencement to the currency of it, or for any other purpose, any advantage should present itself as derivable from such a measure.
The exigencies of government not being susceptible of any certain timetation, [+]3 [+]3 and future money Annuities being all that it has to offer for the ready money of whic it has occasion for it would be idle to attempt to set any bounds to the quantity of Annuities that shall be created by government would be an idle attempt. But so long as any one branch of the Annuity market is left open and without conditions, any other may be closed, or left open upon any such conditions as my be found advisable.
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Identifier: | JB/002/402/001"JB/" can not be assigned to a declared number type with value 2. |
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Not numbered |
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002 |
Annuity Notes |
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402 |
Art. 5 |
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001 |
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Text sheet |
1 |
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Recto"Recto" is not in the list (recto, verso) of allowed values for the "Rectoverso" property. |
A14 / F14 |
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Jeremy Bentham |
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1141 |
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