★ Find a new page to transcribe in our list of Untranscribed Manuscripts
7 Annuity Notes
Ch Circulation
indubitable
Objections
Exchequer Bills
2. Quantity not
adapted to the demand
3. Magnitude
4. Form of paper
th
2. In the second place in the instance of the Exchequer
Bill the total quantity of Annuity brought to market
within a given time is no more degree measured
and governed by the quantity in demand: no more so, than in the case of
Stock Annuities. To render this case parallel
to that of and in this respect the proposed paper it ought not to be
known that any such determinate quality as
is wanted will be wanted to be raised upon
Exchequer Bills: it ought to be known that Sto
although not a single hundred pound were to be
supplied obtainable in this way, the business of government
would go on in its old train — the contrary of
which is the case.
They are poured into the market in q masses
to the amount of from one to seven or eight
millions at a time: and for masses of this
magnitude customers within a given space of
time, and that not a very simple one, must at
any rate be found.
3. While the quantity thus brought to market
is thus forced, the number of customers is restricted reduced
and the quantity of money capable of bringing flowing in
for the supply of the demand is much reduced, restricted
by the magnitude of the lots. The least sum
of money being capable of being placed out in this way
is £100: a quantity not altogether inadequate to the purchaser
of perpetual Stock Annuities to advantage, and consequently
of being placed out at the high rate of interest
afforded by these abundant exuberant and depretiated Annuities:
