JB/002/191/001

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93

This head of profit will continue be an
to the last, so long as a particle of National enduring one: no degree of plenitude on the part
Debt continues unredeemed. of the Exchequer will supercede it. It would be
bad economy

It is not with Exchequer Bills
as as it was with Navy Bills. It would (as already observed Ch. 4.) be bad economy
to make and keep on foot a perpetual loan to a a certain
, in order to save occasional
loans to the same amount, and at the same,
or nearly the same, rate of interest: and to To keep
in hand a sum to the a mass of sum in cash to
the same amount would come to the same
thing: save, by the application of that sum a
proportionable part of the perpetual Debt already
existing might be redeemed. The maximum
of advantage under this head is therefore what results
from keeping the rate of interest on such temporary
loans from rising above or more than one or more than
step above one step the level of the rate of paid on
perpetual loans.

Identifier: | JB/002/191/001"JB/" can not be assigned to a declared number type with value 2.
Date_1	1800-08-24	Marginal Summary Numbering	7
Box	002	Main Headings	annuity notes
Folio number	191	Info in main headings field
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	d7 / f93
Penner	jeremy bentham	Watermarks	tw 1794
Marginals		Paper Producer	francis hall
Corrections		Paper Produced in Year	1794
Notes public		ID Number	930
Box Contents