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come in, be rendered a matter of general obligation
by an Act og the legislature.— A trust receipt-book to
be kept with a trust-till.— In the book, a entry to
be made of each sum received, with the day on which
it was received: the statement of the day to be indispensable.
The money, if not received in the shape of
Annuity Notes, to be sent to the office on that day or
the next, to be changed into Annuity Notes:— the Notes
received to be entered by their Nos:— if the day be not
entered, the first day of the year to be presumed, for the
purpose of charging the Trustee with the interest. The
trust-paper, as received, to be deposited in the trust-till,
to save it from being confounded with money of his own.
This not to prevent the disposal of the amount to superior
advantage (i.e.: at a higher rate of interest than
what is afforded by Annuity Notes) in as far as the
nature of the trust admitted of it. Since the above was written a passage has been discovered in Pinto, whereby it appears that at the date of his book (1771) a law to this effect created in Holland in respect of the interest bearing paper of that Country termed Obligations (Dela Circulation, et da Credit. p.81.) There is a great deal of good and a great deal of evil (he says) in the effects of this law—: but the good appears to consist in the mode of employing the money as above: the evil, in the hands in which the management is reposed, or in some other such collateral circumstance as the forced sale of property, in whatever other shape it may be in besides money for the purpose of converting it into this.—
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Identifier: | JB/002/670/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
annuity notes |
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670 |
ch. xvi moral advantages circulating annuities |
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001 |
ch. xvi moral advantages / note |
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copy/fair copy sheet |
4 |
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recto |
d1 f1 / f2 / f3 / f4 |
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1798 am 1798 |
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frances wright |
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1798 |
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1409 |
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