JB/002/047/001

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Annuity Notes

Abstract

The losses experienced or apprehended from
rash or penniless Issues of Notes, gave birth to the
restrictions on issues for sums below a certain magnitude: but this reason has no
application to the proposed Government Notes expressive
of the proposed engagement on the part of the Government. Issuing from such a source the sums of the Notes in the can not be too minute: confined within the bounds of the otherwise existing mass of engagements, the incommodation of them can not be too great.

A plan species species of intended Notes was, not long ago, proposed,
whereby Government Annuities were to be stand mortgaged
and burthened (it was supposed) without diminution of their value: and which were
expected to pass and to be paid for, as if they had engaged for the payment
of so much money, though they were to bind no assignable individual to the payment of it. though they bound nobody to the payment of
of it But the now proposed plan engages
for no payment, for which adequate funds are not already
in existence, nor yet burthens those funds them, without immediately disburthening
them to a superior amount.

So much for profit to Government: a word or two on the
augmentation to National Wealth: —

It is a demonstrable proposition, that paper,
expressive of promises engagements to pay money, makes (by
the amount of the whatever productive labour it gives birth to) a real
addition to the national mass of national wealth, so long as there remains in the country or those it trafficks with a fund of employable productive force (or capacity of yielding labour) as yet unemployd; & so long as the performance of
may be the excess over and above what is actually performable in the mass aggregate
of those promises, continues unclaimed; This truth
is demonstrable with particular facility in the instance
of the proposed plan, which for every £100 worth
of paper annuities (secured by paper) for every mass of paper which it puts into the hands of purchasers, pours
£100 worth of gold into the hands of capitalists some capitalists
capitalists who (after allowance made for the small proportion
of prodigals), part not with their Annuities but
for the purpose of employing the consideration money in the shape of productive
stock or capital, the quantity £100 worth of ready of coined
gold (or its equivalent Bank paper) which money they obtain in exchange. Hence, to pay off reduce so
much National Debt or Government Annuities, is to refund
and and add so much to the National Bank mass of National Capital of in replacement of what has been withdrawn from it by War-expenditure.

Identifier: | JB/002/047/001"JB/" can not be assigned to a declared number type with value 2.
Date_1		Marginal Summary Numbering	4 continued, 6
Box	002	Main Headings	annuity notes
Folio number	047	Info in main headings field
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	f5
Penner	jeremy bentham	Watermarks	1798 a<…>
Marginals	jeremy bentham	Paper Producer	frances wright
Corrections		Paper Produced in Year	1798
Notes public		ID Number	786
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