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XVI Circulating Annuities
Government Annuities having been previously established
by sufficient experience, let a similar investment
of all trust-moneys as they come in, be rendered
a matter of general obligation by an Act of the
legislature. —A trust receipt-book to be kept with
a trust till. — In the book,an entry to be made
of each sum received with an indisposable state the day on which it was
ment of the day. 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 N<hi rend="underline">os:— 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 admitts of it. (c)
What is thus proposed to be rendered obligatory, for the
benefit of the principal, is no more than what a careful Trustee could would do
spontaneously, either for the benefit of the principal or
for his own, according to the texture of his conscience.
Should a precaution thus simple and unexceptionable be
neglected, the constitution of Annuity Notes will be all
too apt to operate as a premium for vice instead of virtue as w well as virtue; a premium for improbity
in the one situation, as well as for frugality in the other —
Since the above was
written, a passage
has been discovered
in whereby it
appears that at
the date of this Book
(1771) a law
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XVI. Moral Advantages
2. Lastly as to promotion of Frugality- we have
seen the peculiar advantages which the proposed
new species of property holds out to the acquirer.
Within a trifling and unavoidable fraction, 2d a
day; £3 for every £100 by the year:- not for risk
of lending, but for mere self-denial is not spending. Income
receivable without expence, and without striving from his home. No attendance - no Agency
fees, no Brokerage fees - no stamp duty, either on
purchase or on sale. No loss, on either occasion, by
fluctuation of price. Not a day without its profit:-
profit by keeping, for the minutest as well as for the
largest portions of time: Conveyance obtainable for
it by post, in the minutest portions as well as to
the most distant parts of the island. Security afforded
by division against misadventures of all sorts;- against
accidents and against enemies:- in the house or
on the road:- by fire, water, or forgetfulness:- from
theft, robbery, burglary, or breach of trust. - Compound
interest, bought within the reach of individuals
for the first time.
In proportion to the degree in which it presents
these several accommodations, in that same
proportion does it act as an incentive to frugality:-
in all classes, in a certain degree, and in as far
as current expenditure is concerned: but in a more special
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Identifier: | JB/002/315/001"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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315 |
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"Recto" is not in the list (recto, verso) of allowed values for the "Rectoverso" property. |
F1 / F2 / F3 / F4 |
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1798 AM |
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Frances Wright |
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1798 |
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1054 |
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