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23
9 Annuity Notes
Ch. 8 Period I 5. Exchequer N. Bill 21 For the quantum reference to Period III Ch . War Period As to the absolute quantum of profit in this head
that will of course dependant on the quantity amount of
Exchequer Bill paper issued within the time : a
quantity in regard to which it can hardly be
of any use that any calculations or passio conjectures that
could be given here would be of little use .
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Note
(a) In regard to Navy Bills , and the other
Government papers of that class nothing particular
need be said : being paper of this class, since the recent improvement
brought to placed in a footing so little different in this
respect from Exchequer Bills , the rate of profit may causes
to be an object be taken for the same .
Peace and war will however b make this
difference . When war ceases and the War-accounts are wound up the issue of Navy
Bills ceases will ceases : while : that of Exchequer Bills , if the
old established practice under this head should
be persevered in , will continue in regard to a certain
sum , which will however be growing less and less every
day as the sale of quantity <add>amount of</add> the Land tax taken
out of the hands of government by sale , encreases .
This being the case , upon the above-made supposition
that this first period consists of an equal
portion of years of war and years of peace , the
assumed rate of profit upon the whole period taken together
will be to be reduced to half that which is assumed
in the case of Exchequer Bills — because being the
same as in Exchequer Bills , it continues to
be reaped for — no more than half the time .
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annuity notes |
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recto |
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jeremy bentham |
1798 a<…> |
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frances wright |
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1798 |
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920 |
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