Publisher's Synopsis
Excerpt from The Stocks Examined and Compared, or a Guide to Purchasers in the Public Funds: Containing an Introduction, in Which the Origin and Nature of the Public Debts Are Explained, and Useful Information Is Given Relative to the Management of Business in the Funds
The greatel't part of the public funds confif'ts of perpe tual annuities, With regard to the redemption of which parliament has referved a power: the other parts confift of annuities for a certain number of years, and life-an nuities. The perpetual annuities are di?inguifhcd ac cording to the rate of intereft they pay or the time and purpofe of their creation; and when government, by a new loan, contracts an additional debt, bearing a certain fixed intereft, it is ulual to add the capital thus created to the amount of that part of the public debt which bears the fame intereft and name, and to acd the produce of the taxes, levied for the payment of the interel't of fuch new debt, to the fund provided for paying the interelt of the former capital, thus confolidating the old and new debts, and making the whole intereft 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 refpecftive titles in the following work.
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