Publisher's Synopsis
Excerpt from The Stocks Examined and Compared, or a Guide to Purchasers in the Public Funds: Containing an Account of the Different Funds, From the Times of Their Creation to the Year 1798; Including the Imperial and Irish Annuities, Transferrable at the Bank of England, and the Stock of Public Companies
The greateft part of the public funds confifis of perpe tual annuities, with regard to the redemption of which parliament has referved a power: the other parts confifl: of annuities for a certain number of years, and l1fe an unities. The perpetual annuities are diftingui?led se cording to the rate of intereft they pay or the time and purpofe of their creation; and when government, by a new loan, contrafis an additional debt, bearing a certain fixed intereft, it is ufual to add the capital thus created to the amount of that part of the public debt which bears the fame interefl: and name, and to add the produce of the taxes, levied for the payment of the interefi of fuch new debt, to the fund provided for paying the intereft of the former capital, thus confolidating the old and new debts, and making the whole interef't payable out of the general produce of the fame fund; hence we have 3 and 4. Per Cent. Confolidated Annuities, &c. The particular account of which will be found under their refpeé'tive titles in the following work.
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