27th July 1801

Eden

Interest Notes

3

43[?]

paper which I should expect to see in circulation? So many points of distinction

as you have seen – (and I know not that they are all that might be seen) are

they not all together enough to constitute a difference? Is there any one of

them that does not constitute an advantage? Some of these advantages – the

principal ones – those which respect security – duration – rate of interest

facility of calculation are in the very page and sentence he referrs to,+

staring him in the face: but he fancies he annihilates them, when he shuts his

eyes.

In mentioning the rate of interest allowed by some of the Country Bankers, on

interest-bearing notes issued by them, I mentioned it for the principal if not

sole purpose, of shewing that an interest so much inferior – not only to the 5

per Cent more or less, afforded by the existing Government securities, but even

to the almost 3 per Cent proposed to be allowed by Government on the proposed

new Securities – actually met with individuals to accept it. I might have gone

further: for, to judge by what I have since heard, the example of

many

+ p.42.