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10 Notes Art. 2. + 10
Annuity Notes
Plan
1 Constitution
and can should appear to nearly equal in other respects, thus consideration
issuing at any rate be allowed to turn the deal
The would be between the proposed 3 per cent
(i:e: a trifle less than 3 per cent) and 2 1/2 per cent
that is (as we shall see) for the sake of even money a
little bet trifle little less than 2 1/2 per cent. £16 Sixteen pound (instead
of £16 £15: 4s:2d) the sum answering to 2 1/2 per in relation to which the
7s.7d 1/4 a year would be 2 1/2 per cent precisely
but precisely would make a series of Notes not
little if at all less commodious than the above series
at 3 per Cent.
If reasons pro and
con weigh nearly
equal in other respects,
this consideration
may at
any rate be allowed
to turn the rate
The danger is, lest, among the lower classes in particular the sentiment of contempt should
attach itself among the to upon the profits of so small an
annual sum as 7s.7d 1/4 by way of interest, for the
investment of so considerable a sum as £16.
My leaning being in favour of 3 per cent upon
the whole. this is accordingly the rate proposed in the
[+] text: but were the principle of this currency to be
approved of, the choice of the rate would be well deserving
every degree of further consideration that could
be bestowed on it.
Confer Art. 7.p17.
where money is
to be got at so little
as 5 per Cent because
government gives more
nor for because
the Law forbids it, it
might seem too simple
a to hold out the
hand of and
Three per cent is
a rate no body
could complain object of
it being the
price of the great
mass of Stock, &
the central price
as it was to which
all the prices of Annuities
have to
to
approach.
[+] As a
case would might change
in this respect: accordingly
in the event
of a first issue, the
rate is proposed to
be trivial.
