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16 Aug. 1800 + Note
Note to p. 38.
Note
2 (a)
Cause of the security against depretiation
An engagement A government engagement could not
like this, have been rendered depretiation-proof, but
for its the pre-existence of Stock Annuities, and
its connection with them, as above. The exigencies
of government, not being susceptible of limitation,
no species of engagement could be offered of which the
price should be fixed, and the quantity limited to
what could be disposed of at that price, unless there but for the
co-existence of some other species of engagement, unlimited
in quantity, respect of the quantity offered at market & fixed and therefore subjected to
an unlimited diminution of price.
