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Abstract
Ch. XIII. Partic Interest
Money the property
Every reduction of
the rate of interest
as
very heavy need a
in income
of 50 per Cent
the
has been
the send
declared
of the legislative
Ch. XIII Particular interest concerned.
Of the four distinguishable advantages<add>objects</add>aimed at by and effects expected for
looked for for by the proposed measure, that which will probably be
regarded as the principal, is the degree of acceleration and
assurance promised by it to the redemption of the
National Debt. To the accomplishment of this so desirable
an object, in a way consistent with existing
engagements, in relation to it, no damage
accruing to particular interests has ever been
considered as opposing my such a bar asthat ought to not be be
be surmounted regarded as unsurmountable. That a reduction
say from 4 to 3 per Cent, is a perpetual one, to
ta to that amountand that a perpetual the amount of 25 per Cent
upon the income of a particular class of men
in a proposition to to be disported too
obvious to be overlooked. Yet the dessign of
effecting such reduction of the same cost, and
that to an undefined amount, is a design
rooted as the mind of the legislation, in design
evidenced by the practice of preceding legislaturesPArliaments<add>II</add> Note
II Bl In the compass
of 33 years viz:
from 1717 to 1750 interest
on divers parcels of the
national debt was reduced
from 6 to 3
per Cent SInclair II. 214.
and by the express declarations of the last.+ + 32 G.3.c.55.
