30 Jan y 1808

Appeals

3. Interest allowed

Viwed in its proper light this remedy such as it is will be seen to [...?] a satire upon the system which gave birth to it. In addition to the 5 per cent interest, compound interest at the same rate! At what point of time is it that the first addiction thus to be made to the ammount of simple interest would commence? At the [...?] not [...?] than half a year after the first payment on the [...?] of the simple interest had become [...?]: so that for a delay that [...?] but a day of half a year, the value of the remedy as equal to 0. At 5 per cent at the end of 14 years, the principal when the interest is computed in the mode of compound interest doubles itself. [...?] now to a commercial man who in the character of plaintiff has been having[?] the whole time commercial profit, and that his[?] compound though it be but the [...?] of the rate of commercial, profit - viz 12 per Cent, the calue of this remedy. At the end of the years or thereabouts instead the ,5 which be at sample interest he would have raised[?] for the interest of the first year on the principal of ,100 to he will receave ,10: at the end of the years 2 per cent less than he ought to have receaved at the end of the first year.

To [...?] enormous a pitch. must the mass of factitious delay have been swilled[?] before this pretended remedy whether in the character of satisfaction to the party wronged, or of punishment to the wrongdoer, can have become any thing better than chip[?] in porridge.