★ Find a new page to transcribe in our list of Untranscribed Manuscripts
16 Sept. 1800 + 110
3 Annuity Notes
Abstract
Advantages
Conclude 2 Period
51 ?
State of the
Annuity Note proper
on the redemption last year
of the last portion
of the National Debt.
The reduction will
either go on beyond
the month of Period
10, and so on with till
and or stop the point of compleat
short redemption
or stop short before
that year, according
to circumstances
the general rate of general
interest.
Ch. Concluding period.
After the reduction exoneration they effected in the course of
thise fourth period by reducing the reduction of the rate of
interest to the £1.9s:6d which is the rate given
by the paper of the third issue — as it or is it not likely
that the reduction of interest should have descended
any lower before the redemption of the last
portion of the principal of the debt? ) The
amount of the reduction degree of reductionis a trifle more than already brought to view
is by no means without : it amounts to but a
50 per Cent: from £3 to £1. 10s would be
50 per Cent without a mere trifle of excess: and fifty
50 per Cent exactly Fifty per cent exactly
was the amount affected of the reduction asserted in the first half of the century
in a period of about 33 years: viz: the period between
1717 and 1750: the reduction being then rate being brought to this
before the grand reduction, brought thus
no certain small parcels of the National debt
6 2
I will mention
without stopping
of the reduction of
the rate of interest
in general keeps
pace with that of
the rate of government
interest
The reduction of the rate of interest on the money that had been
thus lent to Government, will stop short of this mark, or stop at it or go
beyond it, according to the influence, which the rate
thus allowed by government turns out to exercise over
the rate of interest in general. That an the influence
which the Government rate of interest as had in its has, in its rising state
rate maintained over the general rate of interest, has
been considerable in matter of known experience:
though the influence experience appeared operation of the restrictive laws, which
stop the rise at the point of 5 per cent, even on the slightest slenderest security</add> has rendered the
amount of this influence scarce capable of being
measured. The influence in question of the rate of interest paid on the debt can not but
increase measured by the debt with the magnitude of the debt, to which the
magnitude of the mass of capital poured into the market
as we shall see (as will be seen) by the redemption of that debt, will be propositioned.
The
