27th. July 1801

II +

Eden

Interest Note

2

{3}42

5. In what interest is the glance of inspection substituted to the toil of

calculation? What Banker is there that could or would undertake that the

continuance of the interest thus allowed should be coeval with that of the

national debt? – 7. and – what is more – how many Bankers are there that can

find their account on borrowing their money in driblets in this way, when they

can get it in larger sums, or in sums of equal size secured by engagements not

transferable to Bearer; - taking their profit by passing for value[?] notes that

cost them nothing – that rise in even sums of convenient size – that – in regard

to interest require neither calculation nor so much as inspection – that subject

them, in a word, to no interest, and the amount of which is neither limited by

the amount of the sums deposited with them on condition of paying interest – nor

in short by any thing else, but their own prudence, and the facility of those

who take this paper off their hands? – Where has the learned Baronet found – by

what logic will he prove – that the circulation of Banker’s paper bearing

interest is mentioned in my plan as the “principal” ground of expectation I rely

on in respect of the circulation of the proposed Government Annuity Notes? – in

this sense, at least, (which is the only apposite one) viz: that the amount of

that private paper at present circulated constitutes the principal part of the

amount of that mass of Annuity Note

paper