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Note continued 7 Annuity Notes Ch. 8. Financial Period 1 Sale by (a) certain objection answered from the succeeding ones: but if this were an
objection against the making this application in question
of the proposed produce of the new Sinking Fund so would it
against the making the like application of the produce
of the two existing ones. The ultimate object
is the discharge of the Debt: for this object
it is that such curious sacrifices are made: that
by means of £5 millions worth of fresh money applied to this
service will affect the object will be accomplished so
much the sooner is not to be disputed. From what
source soever the money comes from with which the
£36. millions of debt or thereabouts as yet unbought in
is to be redeemed, such is the notion of the cure,
upon the first portion say from 5 millions
to 80 millions a certain profit is to be made, &
put upon the remainder, nothing: the bargain
can never be regarded as a losing one, if for
a sum of 5 million from which were it not for
by this fresh influx its proportion happens to be that
out of this portion of profit to the amount of £750,000
another 5 million which would otherwise have
been to be raised by taxes and taken as out of
the S old Sinking Funds is saved.
Another consideration that may help to show
the reality of the branch of profit here assumed, is — that
the sooner Stock Annuities are raised to par, the
sooner will that period have been made to arrive, at
which by the Stock Government the fear of being paid off, the Stockholders
may be bought to ex the possessers of redeemable Government
Annuities may, to save themselves from being
paid off consent to accept of a reduced rate of Interest, as in Mr Pelham's time: for which see Profit Period III
