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Money Traffic
Exchequer Notes Plan
. 7
To give a farther facility to the calculation and thence to the circulation a table
should be added to the impression exhibiting the encrease of interest accrued at a
certain number of equal periods in the year: say 15 periods of 24 days each: throwing
out as before mentioned the odd days.
Table for a twenty pound note may be as follows.
Table shewing the interest that will have accrued upon this note at different periods
in the Year: each consisting of 24 days: and thence the encrease of vale that it will
have received thereby: and the prices which will accordingly be to be given for it if
received at par, and so for five successive Years
1796
1797
1798
1799
1800
Jan: 24
0: 0 6
_ 8
_ 15. 6
1. 3
1. 10. 6
Feb: 17
Mar. 13
April 6
_ 2: _
_ 9. 6
_ 17. _
1. 4. 6
1. 12.
April 30
May 24
June 17
July 11
_ 4
_ 11. 6
_ 19. _
1. 6. 6
1. 14
Aug. 4
_ 4. 6
_ 12.
_ 19. 6
1. 7. _
1. 14. 6
Aug. 28
Sept. 21
Oct. 15
_ 6. _
_ 13. 6
1 1 _
1. 8. 6
1. 16
Nov. 8
_ 6. 6
_ 14. _
1 1. 6
1. 9. _
1. 16. 6
Dec 2
_ 7. _
_ 14. 6
1 2. _
1. 9. 6
1. 17. _
Dec 26
_ 7. 6
_ 15. _
1 2 6
1. 10. _
1. 17. 6
1796
Interest has been upon this Note for the Years _ _ _ _ _ _ _ _
To find the value of this Note on any day not mentioned in this Table, add a farthing
a day to the sum opposite that one of the days mentioned in it which immediately
precedes the day in question
With these advantages there seems no occasion for making them payable either in
respect of principal or interest more than once a year.
With respect tot eh interest, a time may be fixed within which the Notes must be
presented for payment: Notes not presented within the time not to be paid till the
paying season recurrs in the next year. On such terms the/The number of days allotted
for payment in each year can not consistently with good faith fall much short of what
would be sufficient for paying the interest upon the whole number of notes if
presented, should they happen to be presented, which however is sovereignly/supremely
improbable: though at the outset the presumptions upon which the arrangements are
grounded should all of them be as unfavourable as possible.
Similar Items
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Title: [[Rudiments sheet] 9 Jan. 1800]Description: [Rudiments sheet] 9 Jan. 1800 Annuity Note Nation Debt View From Rise & Finance Committee Money Borrowed to 1799 inclusive Capital created Before Since } the War 122, 154, 225 + 238, 231, 248 || 178, 177, 059 416, 408, 309 59, 413, 118 356, 995, 189 Whereof Ao 1799 4,500,000 This divided by 7 the number of years makes 17,450,003 borrowed upon an average in each year. + Fin Com. I A 1 || Whereof Ao 1799 8, 249, 250. Stock added by Loan of 21 Feb. 1800 Consists 110 22, 550, 000 Reduced 47, 9 635, 000 To 1797 inclusive 112, 154, 225 1798 17, 000, 000 129, 154, 225 1799 15, 500, 000 144 654, 000 20 500, 000 1800 165 154, 600 Loan of 1800 by J.B.s calculation from below £32,185 000. 448, 593, 307 59,413,118 389,180,189 Times 22 Mar.1800 Per Tierney No of persons employd by the Bank 1- 1796 300 1800 6 or 700 viz: since the issuing the £2 & £1 Notes Profit’s Annuitant In War £900,000 Peace on Average 671,000 Average expenses Bank 100,000 Excise 405,000 No of persons employd by Excise 5000 Exchequer Bills By 9 G.I[?]. c 5. §.4 Heads only printed Exch. Bills to bear 2d interest - to be numbered arithmetically - Uncancelled Bills to pass as current money to & from Collector &c - Bills reissuable out of the Exchequer - New Bills to be made forth in the name of Bills filled up or defaced Bills not exceeding £5000 may be made forth. Per Pitt Profit (annual) of the Bank on the Management of the Public Debt £4,000,000 Simple[?] only £200,000 per County Account. Per Tierney In 1797 according to the evidence of M H Thornton it was in contemplation in the City to create a new circulating medium. Exchequer Bills 13 G.1. c.3. §.3. Bills to be paid off without any undue preference in ... numerical order ... beginning with No 1. Commee of Finance 1 Rep.[?] Append H Usual amount of Exchequer Bills kept afloat - £5,500,000 ib. App. E 1. […?] Exchequer Bills 1793 Jany. 5. 2,765,000 Busied for War in year ending that day £6,713,000 Total 9,478,000 Same Words in both Bills[?] Redemption Ao 1731 4 G.2. c76 Ao 1736 9. G.2. c34 §.3. A Million of Silver Stock paid off. The Company to divide the Redemption money in equal proportions among the Stockholder Ibid. §.4. Trustees for paid off Annuitants what to do with the money. Pelham’s Operation By 23 G.2. c.1. Amount of 4 per Cents so reduced £59,703,475.8s.4d¼ First time for subscribing before 8 Feb. 1749 Second do before 30th May 1750. The 3½ was secured to the first set of Subscribers till 25 Dec 1751. To the 2d, no longer than to 25 Decr 1755. Notice given by Pelham’s speech in the Session that began in Novr 1748. Sinclair II, III. Sinking Fund 1,823,202 Sinking Fund Established Act 26 G.3. c.31 Do Amended 32 G.3. c.55. 1/100th of new Loan to be annually applied Produce of Income Tax Ao 1799 £6,200,000 Taken from Budget of 24 Feb 1800 7,000,000 Land Tax 38 G.3 c.60 §.9. Purchase money so much 3 per Cent Consols or Reduced as will purchase the amount + 1/10th of do. Result Rose p. 77. Redeemed as taken[?] or contracted for between 1 May 1799 and 4 Decr do Capital 16,046,727 Annuities 481, 425 Whereof to be extinguished 43,766 Amount of Lending Sold and Annuits kept alive 437, 659. Irish Debt. Times 19 Feb. 1800 Irish Debt stated by the Irish Ld Chancellor at £25,000,000. In those years, at the present rate of encrease, it would rise to £50,000,000. Income Tax Times 16 May 1800 “The sum already produced by the Income Tax, is £5,601,624:19s:4d½ Quere from what day to what day? Interest and Managemt £6,158,478 Common Finance 2d[?] Repp[?] p. 8. Ao 1797 Receiver General pays his Ballances weekly into the Exchequer – Transmitted to him by Bills at 30 days Add days of Grace a Bill[?] 3 To Receiver? 3 Total delay 36 Loyalty Loan Amount of the addition to be made to the imported of the capital if the option given be embraced 5,062,500 Original 5 per Ct 20,250 000 Together £25,312,500 Total Annual Charge + £9,325,866 £8,264,896 17,590,762 1798 Produce of Assessed Taxes an Voluntary Contributions together somewhat more than £6,000,000 Rose p. 30 Edit. 6th 1799 Income Tax 1st Year Taken for only £7,500,000 “Fear” it will fall as below that Sum ib. 32. 21 June 1798 Date of 1st Land Tax Redemption Act G.3. c.60 Lowest price of 3 per Cent Consols in 1798 Jan.y 1798 47¼ April 1798 48 Pric[?] of 3 per Cent Consol. 9 April 1800 64½ For May 647/8 ‡ £63.14:0½ Times 25 Feby 1800 reporting Pitt’s Speech of 24th Feb.1800 Times 22 Feb. 1800 Terms of Loan of 21 Feb. 1800 Consols 110 at 62 68.4 Reduced 47/157 at ‡ 63 29: 12 Discount about 1: 16 £100: 12 Contractors 1. Roberts & Co 2. Sir F. Baring 3. Giles - Loan contracted for Year Amount 1800 as per Statute {18,500,000} 20,500,000 21 Feby1800 Rate of interest 4: 14: 2d ¼ Times 22 Feb. 1800. Rate of Interest of Loans contracted for during the War – £ £ s d 1793 - 4,500,000 - 4 .. 3 .. 4 1794 - 21,000,000 - 4 .. 10 .. 9 1795 - 18,000,000 - 4 .. 15 .. 8 1796 - 18,000,000 - 4 .. 14 .. 8 1796 - 7,500,000 - 4 .. 12 .. 2 1797 - 18,000,000 - 5 .. 14 .. 1 1797 - 14,500,000 - 6 .. 6 .. 10 1798 - 17,000,000 - 6 .. 4 .. 9 1799 - 3,000,000 - 5 .. 12 .. 5 1799 - 15,500,000 - 5 .. 5 .. 0 Average £5..s3..d11½ Total Capital Redeemed to 1799 To 1 Feb.y £37,381,771 more To 1 Dec. £5,984,620 + £43,366,391 Land Tax 16,046,727 59,413,118 + Say for round numbers £6,000,000 This for 10 months of the 12. This gives, for one Month, £0,600,000 x 12 7,200,000 Interest of this at 3 per Cent (though near £500,000 carried 4) £ £0,216,000 But it was nearer 5 per Cent. It would be exactly 5 per Cent if the purchase had been made at £60, whereas the average is probably 64 or 65 At 5 per Cent £360,000 Sinkg Fund for Year 1800 7,560,000 Capital redeemed by Sale of Land Tax In course of 1799 To 4. Decr. £16,046,727 Interest on do 481,425 Rose’s 6th Ed. p. 77, 78 Times 10 Oct. 1800 Purchases to 10 Oct. 1800 More contracted for 15,587,824 1,952,379 £17,540,203 Sinking Fund Annual of 1786 £1,985,000 Voted Annually £200,000 2,185,000 1792 £2,109,043 £4,294,043. 5 per Cent Redeemable at par, when the Commiss.r shall have purchased £25,000,000 of Stock in 3 or 4 per Cent, Created by Acts 23, 24, 34, 35, 36, 37 G.3. Consolidated by Acts 27, 34, 35, 36, 37 G.3. £28,114,922 Do per Rep. 24 to 25 Apr. 1798 £28,125,582:17s 7d 4 per Cent to 1797 Inclusive per Rep. I £42,369,293 do per Rep. 24th to 5 Apr. 1798 £45,269,859: 17s. 2d £ per Cent Ann.1797. Redeemable at par, at the Expiration of 3 Years, after the £5 per Cent Consols shall have been discharged. But at 2 Years from the end of the present War, and Ratification of the Definitive Treaty of Peace thereupon (at any time within 6 Months) the Proprietors are intitled to have their Annuities with all Dividends due thereon, paid off in Money – or converted into £3 per Cent Consolidated Annuities at the rate of ££133:6s 8d for every £100 contributed £20,250,000 The loan bore a premium of 2½ per cent immediately and fluctuated between that and 3½. Redemption – Notice Length of 3 per Cent Consols One Year by the original Act 25 G.3[?]. c.27; and subsequent Acts.. Ex. gr. 39 & 40 G.3. c.22 Six Months by the Navy Bill &c Funding Act 3.G.3. c.9. Charges of Management Total British 212,227 Add Emperors Loan 1800 at 3,386 £450 per Mill. on 32 000 000 14,400 £230,013 Deduct Life A for years 20,764 209,249 Irish Loan Raised £6,500,000 Capital in Stock 12,175,000 Imperial Stock crusd[?] besides £230000. for Years 7,502,603 19,677,603 Raised for Imperial Ao 1795 35 G. 3 4,600 000 - 1797 37. G. 3 1,620,000 New Taxes 1. £5 per Cent and all Pins[?] sold at 2s.6d per lb, and upwards at the Company’s Sales £130,000 2. 1d per Gallon on Corn Wash (equal to 5d on the Spirit 100,000 3. 10d do on Brandy 8d do on Rum 120,000 £350,000 Budget 25 Feb. 1800 – Ways and Means 1. Sugar, Tobacco & Malt 2,750,000 2. Exports and Imports £250,000 3. Lottery 200,000 4. 10 per Cent on Income 7,000,000 Deduct Interest on £8,000,000 } 11,000,000 } 1,700,000 13,500,000 } 5,300,000 £32,500,000 Bank Charter 3,000,000 Loan+ 18,500,000 Vote of Credit 3,000,000 £39,500,000 + By the Act 39 & 40 Ge 3. c.22. – it proved to be £20,500,000 Supply for Expenditure – Navy 13,619 079 Army 11,350,079 Ordnance 1,695,956 Miscellan. Serv. 750,000 Interest due to Bank 816,650 Deficiency of Ways and Means 1799 447,039 Do Of Land & Mult.[?] 350,000 To pay off Excheq. Bills raised by 39. G.3. c. 2,506,250 Do on Aids to Contributions 1,679,730 Do Supply of 1800 1,914,000 Reduction of Debt 200,000 Subsidies 3,000,000 Unforeseen Services 1,771,215 Total Supply 39,500,000
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Title: [[Rudiments sheet] 9 Jan. 1800]Description: [Rudiments sheet] 9 Jan. 1800 Annuity Note Nation Debt View From Rise & Finance Committee Money Borrowed to 1799 inclusive Capital created Before Since } the War 122, 154, 225 + 238, 231, 248 || 178, 177, 059 416, 408, 309 59, 413, 118 356, 995, 189 Whereof Ao 1799 4,500,000 This divided by 7 the number of years makes 17,450,003 borrowed upon an average in each year. + Fin Com. I A 1 || Whereof Ao 1799 8, 249, 250. Stock added by Loan of 21 Feb. 1800 Consists 110 22, 550, 000 Reduced 47, 9 635, 000 To 1797 inclusive 112, 154, 225 1798 17, 000, 000 129, 154, 225 1799 15, 500, 000 144 654, 000 20 500, 000 1800 165 154, 600 Loan of 1800 by J.B.s calculation from below £32,185 000. 448, 593, 307 59,413,118 389,180,189 Times 22 Mar.1800 Per Tierney No of persons employd by the Bank 1- 1796 300 1800 6 or 700 viz: since the issuing the £2 & £1 Notes Profit’s Annuitant In War £900,000 Peace on Average 671,000 Average expenses Bank 100,000 Excise 405,000 No of persons employd by Excise 5000 Exchequer Bills By 9 G.I[?]. c 5. §.4 Heads only printed Exch. Bills to bear 2d interest - to be numbered arithmetically - Uncancelled Bills to pass as current money to & from Collector &c - Bills reissuable out of the Exchequer - New Bills to be made forth in the name of Bills filled up or defaced Bills not exceeding £5000 may be made forth. Per Pitt Profit (annual) of the Bank on the Management of the Public Debt £4,000,000 Simple[?] only £200,000 per County Account. Per Tierney In 1797 according to the evidence of M H Thornton it was in contemplation in the City to create a new circulating medium. Exchequer Bills 13 G.1. c.3. §.3. Bills to be paid off without any undue preference in ... numerical order ... beginning with No 1. Commee of Finance 1 Rep.[?] Append H Usual amount of Exchequer Bills kept afloat - £5,500,000 ib. App. E 1. […?] Exchequer Bills 1793 Jany. 5. 2,765,000 Busied for War in year ending that day £6,713,000 Total 9,478,000 Same Words in both Bills[?] Redemption Ao 1731 4 G.2. c76 Ao 1736 9. G.2. c34 §.3. A Million of Silver Stock paid off. The Company to divide the Redemption money in equal proportions among the Stockholder Ibid. §.4. Trustees for paid off Annuitants what to do with the money. Pelham’s Operation By 23 G.2. c.1. Amount of 4 per Cents so reduced £59,703,475.8s.4d¼ First time for subscribing before 8 Feb. 1749 Second do before 30th May 1750. The 3½ was secured to the first set of Subscribers till 25 Dec 1751. To the 2d, no longer than to 25 Decr 1755. Notice given by Pelham’s speech in the Session that began in Novr 1748. Sinclair II, III. Sinking Fund 1,823,202 Sinking Fund Established Act 26 G.3. c.31 Do Amended 32 G.3. c.55. 1/100th of new Loan to be annually applied Produce of Income Tax Ao 1799 £6,200,000 Taken from Budget of 24 Feb 1800 7,000,000 Land Tax 38 G.3 c.60 §.9. Purchase money so much 3 per Cent Consols or Reduced as will purchase the amount + 1/10th of do. Result Rose p. 77. Redeemed as taken[?] or contracted for between 1 May 1799 and 4 Decr do Capital 16,046,727 Annuities 481, 425 Whereof to be extinguished 43,766 Amount of Lending Sold and Annuits kept alive 437, 659. Irish Debt. Times 19 Feb. 1800 Irish Debt stated by the Irish Ld Chancellor at £25,000,000. In those years, at the present rate of encrease, it would rise to £50,000,000. Income Tax Times 16 May 1800 “The sum already produced by the Income Tax, is £5,601,624:19s:4d½ Quere from what day to what day? Interest and Managemt £6,158,478 Common Finance 2d[?] Repp[?] p. 8. Ao 1797 Receiver General pays his Ballances weekly into the Exchequer – Transmitted to him by Bills at 30 days Add days of Grace a Bill[?] 3 To Receiver? 3 Total delay 36 Loyalty Loan Amount of the addition to be made to the imported of the capital if the option given be embraced 5,062,500 Original 5 per Ct 20,250 000 Together £25,312,500 Total Annual Charge + £9,325,866 £8,264,896 17,590,762 1798 Produce of Assessed Taxes an Voluntary Contributions together somewhat more than £6,000,000 Rose p. 30 Edit. 6th 1799 Income Tax 1st Year Taken for only £7,500,000 “Fear” it will fall as below that Sum ib. 32. 21 June 1798 Date of 1st Land Tax Redemption Act G.3. c.60 Lowest price of 3 per Cent Consols in 1798 Jan.y 1798 47¼ April 1798 48 Pric[?] of 3 per Cent Consol. 9 April 1800 64½ For May 647/8 ‡ £63.14:0½ Times 25 Feby 1800 reporting Pitt’s Speech of 24th Feb.1800 Times 22 Feb. 1800 Terms of Loan of 21 Feb. 1800 Consols 110 at 62 68.4 Reduced 47/157 at ‡ 63 29: 12 Discount about 1: 16 £100: 12 Contractors 1. Roberts & Co 2. Sir F. Baring 3. Giles - Loan contracted for Year Amount 1800 as per Statute {18,500,000} 20,500,000 21 Feby1800 Rate of interest 4: 14: 2d ¼ Times 22 Feb. 1800. Rate of Interest of Loans contracted for during the War – £ £ s d 1793 - 4,500,000 - 4 .. 3 .. 4 1794 - 21,000,000 - 4 .. 10 .. 9 1795 - 18,000,000 - 4 .. 15 .. 8 1796 - 18,000,000 - 4 .. 14 .. 8 1796 - 7,500,000 - 4 .. 12 .. 2 1797 - 18,000,000 - 5 .. 14 .. 1 1797 - 14,500,000 - 6 .. 6 .. 10 1798 - 17,000,000 - 6 .. 4 .. 9 1799 - 3,000,000 - 5 .. 12 .. 5 1799 - 15,500,000 - 5 .. 5 .. 0 Average £5..s3..d11½ Total Capital Redeemed to 1799 To 1 Feb.y £37,381,771 more To 1 Dec. £5,984,620 + £43,366,391 Land Tax 16,046,727 59,413,118 + Say for round numbers £6,000,000 This for 10 months of the 12. This gives, for one Month, £0,600,000 x 12 7,200,000 Interest of this at 3 per Cent (though near £500,000 carried 4) £ £0,216,000 But it was nearer 5 per Cent. It would be exactly 5 per Cent if the purchase had been made at £60, whereas the average is probably 64 or 65 At 5 per Cent £360,000 Sinkg Fund for Year 1800 7,560,000 Capital redeemed by Sale of Land Tax In course of 1799 To 4. Decr. £16,046,727 Interest on do 481,425 Rose’s 6th Ed. p. 77, 78 Times 10 Oct. 1800 Purchases to 10 Oct. 1800 More contracted for 15,587,824 1,952,379 £17,540,203 Sinking Fund Annual of 1786 £1,985,000 Voted Annually £200,000 2,185,000 1792 £2,109,043 £4,294,043. 5 per Cent Redeemable at par, when the Commiss.r shall have purchased £25,000,000 of Stock in 3 or 4 per Cent, Created by Acts 23, 24, 34, 35, 36, 37 G.3. Consolidated by Acts 27, 34, 35, 36, 37 G.3. £28,114,922 Do per Rep. 24 to 25 Apr. 1798 £28,125,582:17s 7d 4 per Cent to 1797 Inclusive per Rep. I £42,369,293 do per Rep. 24th to 5 Apr. 1798 £45,269,859: 17s. 2d £ per Cent Ann.1797. Redeemable at par, at the Expiration of 3 Years, after the £5 per Cent Consols shall have been discharged. But at 2 Years from the end of the present War, and Ratification of the Definitive Treaty of Peace thereupon (at any time within 6 Months) the Proprietors are intitled to have their Annuities with all Dividends due thereon, paid off in Money – or converted into £3 per Cent Consolidated Annuities at the rate of ££133:6s 8d for every £100 contributed £20,250,000 The loan bore a premium of 2½ per cent immediately and fluctuated between that and 3½. Redemption – Notice Length of 3 per Cent Consols One Year by the original Act 25 G.3[?]. c.27; and subsequent Acts.. Ex. gr. 39 & 40 G.3. c.22 Six Months by the Navy Bill &c Funding Act 3.G.3. c.9. Charges of Management Total British 212,227 Add Emperors Loan 1800 at 3,386 £450 per Mill. on 32 000 000 14,400 £230,013 Deduct Life A for years 20,764 209,249 Irish Loan Raised £6,500,000 Capital in Stock 12,175,000 Imperial Stock crusd[?] besides £230000. for Years 7,502,603 19,677,603 Raised for Imperial Ao 1795 35 G. 3 4,600 000 - 1797 37. G. 3 1,620,000 New Taxes 1. £5 per Cent and all Pins[?] sold at 2s.6d per lb, and upwards at the Company’s Sales £130,000 2. 1d per Gallon on Corn Wash (equal to 5d on the Spirit 100,000 3. 10d do on Brandy 8d do on Rum 120,000 £350,000 Budget 25 Feb. 1800 – Ways and Means 1. Sugar, Tobacco & Malt 2,750,000 2. Exports and Imports £250,000 3. Lottery 200,000 4. 10 per Cent on Income 7,000,000 Deduct Interest on £8,000,000 } 11,000,000 } 1,700,000 13,500,000 } 5,300,000 £32,500,000 Bank Charter 3,000,000 Loan+ 18,500,000 Vote of Credit 3,000,000 £39,500,000 + By the Act 39 & 40 Ge 3. c.22. – it proved to be £20,500,000 Supply for Expenditure – Navy 13,619 079 Army 11,350,079 Ordnance 1,695,956 Miscellan. Serv. 750,000 Interest due to Bank 816,650 Deficiency of Ways and Means 1799 447,039 Do Of Land & Mult.[?] 350,000 To pay off Excheq. Bills raised by 39. G.3. c. 2,506,250 Do on Aids to Contributions 1,679,730 Do Supply of 1800 1,914,000 Reduction of Debt 200,000 Subsidies 3,000,000 Unforeseen Services 1,771,215 Total Supply 39,500,000
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Title: [Table exhibiting the Yearly Value of the]Description: Table exhibiting the Yearly Value of the Stock of Apprentices for 21 years from 1800 to 1821 inclusive. Table of Expenditure and Profit on the score of Earnings upon the Unripe Hands for a period of \ZS\ Years commencing at the year 1800. Supposition: in which this Table is grounded - 1. The Numbers of a Year old and under for each year are taken from the Table of Ages and Numbers, substituting 40,000 to 39353 for the sake of round numbers 2. The Decrements of life are taken from D r Halley's [...?] Table in Price II.35. 3. Numbers of the Succession Stock supposed to be coming in each Year at the different ages are such as will be just sufficient to keep up the number of each age without increase: being therefore to be to the original number of each given age as the decremental number for that age in the [...?] Table is to the entire original number of that age in the same Table. 4. Expence of Diet throughout Daily 2 d: Weekly 1 s-2 d: Yearly ,3-0 s-8 d in a round sum 3-0-0 5. Expence of Cloathing and other articles of wear & Yearly tear for the first 102 years 0-15-0 for the last 102 years 1-10-0 6. Expence on an average of both periods 1. 2-6 7. Total of separate expence per head Yearly 4. 2-6
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