JB/002/046/001

File:JB 002 046 001.jpg

Annuity Notes

Abstract

Other paper currencies, (like the French Assignats & Mandats &c) have been either, engagements
of for money in unlimited quantity, and without the funds for
of performance or promises of fragments pieces <add>divisions</add> of a species of property subject of property Land, Houses &c the value of which would either could not at all or could not without the destruction of the greatest part of its value be so divided or promises of minute portions of a species of property (for example Lands and Houses) incapable of being reduced into such portions: like the
in or like some of the American currency mere arbitrary substitutions of worthless scraps of paper
to pieces of valuable metal, like some of the American with which they had
currencies nothing in common but the name.

Here nothing is engaged for but to pay such
monies as there is already funds for paying, and
at such times at which there are funds for paying
at them: and this in a quantity which by the terms has its plus ultra
of the engagement has its ne plus ultra, and can not in no case exceed the
existing amount of the produce of those funds.

The principle of this measure is the exact
counterpart of the well-imagined and successful
plan for the buying in Government Annuities with
the produce ofmoney produced by the sale of the Land Tax. [reduced
of annually renewable and not
redeemable subject to redemption for that purpose] The What the Land tax Sale
plan does in the way of raising does the price of Government Annuities
it effects by taking out of the market a quantity of that
same commodity out of the market: what the proposed
Annuity Note plan raises the of these Annuities does in the same way contributes to the same effect, is
done by the to such bringing letting in to the market
of the correlative article ready money, as in those small or fugitive masses which
by the operation of the causes above it referred to are precluded should
from it at present are shut out of it at present.