date

3 Aug. 1801 Eden Simple Computation
3 Aug. 1801

Eden

Simple Computation

7

77

In France again, how much greater embarassment must there not have been, when

Assignats – but more particularly when Assignats and Mandate bills – were in

circulation, under degrees of deportation varying almost from day to day. This

currency came in no short space of time, to an end: - true: - but from what

cause? – not from the embarassment attending the computations – (this is pretty

well established by the example given already -) but from the worthlessness –

the absolute worthlessness of the security.

In a word – uneven sums, in all their varieties, came to be paid. Where is the

great inconvenience in having moneys in a correspondent degree of variety for

paying them? – By the addition of interest to principal, if, in some instances,

computations will require to be made, more than would have to be made otherwise,

in other instances they will be saved. - In the case supposed by the learned

Baronet – the case of a £12:16s note, raised by a half-year’s interest from that

value to £12:19:9½, suppose £13 to be the sum to be paid: - With this note,

principal and interest together, the sum will be made up, by adding

five
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  • Title: [3 Aug. 1801 Eden Simple Computation]
    Description: 3 Aug. 1801

    Eden

    Simple Computation

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    In France, besides silver money more various than ours, (viz. Crowns, Half

    Crowns, Shillings, sixpences, and threepences) I remember having, in inferior

    money, five different pieces in my pocket at the same time: Penny pieces,

    three-farthing-pieces, halfpenny pieces, farthing pieces and half-farthing

    pieces. These were embarassments – not mounted upon a great mass attended with

    no embarassment (as in the case of the shillings pence and farthings for

    interest mounted upon a principal of 12:16ss) but composing frequently the whole

    of the sum to be transferred on each occasion from hand to hand – transferred –

    and made up out of such elements by computation – among the poorest and most

    illiterate of the people.

    In America, the silver paper monies, circulating under a continually varying

    discount, as compared with silver metal monies of the same denominations, must

    in their mixture with these undepretiated monies, have given rise, to

    computations, attended I should think with every degree of intricacy that can be

    ascribed to the proposed Annuity Notes.
  • Title: [3 Aug. 1801 Eden Simple Computation]
    Description: 3 Aug. 1801

    Eden

    Simple Computation

    8

    78

    five half pence to it. Without the note, the very simplest possible mode of

    making up the sum would be by twelve guineas and eight shillings: and in

    proportion as guineas and shillings were deficient, the computation would

    increase in intricacy. How much greater the advantage in point of simplicity, if

    the sum requisite to be paid happens to be the exact amount of the Annuity Note?

    a supposition that will as frequently be verified, as that of any other given

    sum approaching to the mark – such as, in the case of the £12:16s Annuity Note,

    the above supposed sum of £13.
  • Title: [3 Aug. 1801 Eden Simple Computation]
    Description: 3 Aug. 1801

    Eden

    Simple Computation

    1

    71[?]

    Observations continued

    25, 26. p.3

    Standard Annuity Notes, varying in 6 months from £12.16s value to £12.19s 9½

    would not answer the purposes of circulation, which requires quick and simple

    computations.”

    Counter-Observations.

    Computations? – yes – where computation is necessary, as in the case of an

    Exchequer Bill, or an India Bond: there indeed the quicker and more simple they

    are, certainly the better. The Exchequer Bill is in that respect better than the

    India Bond, because in the Bill the daily interest is an exact aliquot or

    commensurable part of the yearly interest, which in the instance of the Bond is

    not the case. But in the case of the Annuity Note no computation at all is

    necessary: inspection takes the place of it. Is not that better still? -

    Opposite the day of the month, you see the value.

    Oh but (it may be said) there are people that can’t read at all – and

    what