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 1807 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1808 Excerpt: ...at 10 per cent. In' 1704, likewise, annuities were granted at nine yearspurchase for one life, eleven years purchase for twolives, and twelve years purchase for three lives. The disadvantageous terms on which Government obtained the money thus raised, may be easily seen, by observing, that, taking lives in general, and interest at 6 per. cent., which was then the legal interest, all ages under fifty are-worth considerably more than nine years purchase, and it may be presumed that few of the subscribers would nominate, lives above that age. Young lives, of about eight or ten years of age, were worth upwards of thirteen years purchase; so that any person might nominate three of the best lives he could find for less than the real value of a single life taken promiscuously from the common mass. The annuities thus granted on two and three lives, amounted originally to 22,633: 11: 4, of which those continued on the books at the Exchequer, on the 5th January 1786, amounted to 8,195: 12, which still remains the same; but in all probability the whole has long since fallen in, although the representatives of the annuitants may have neglected to furnish the certificate which the act requires. By a clause in the act for establishing the Consolidated Fund, any Life Annuity, payable at the Exchequer, that remains unclaimed for the space of three years, is to be deemed expired, and the sum due thereon to be carried to the account of the Commissioners for the reduction of the debt. The The annuities on single lives, now existing, have been given as douceurs on loans at the following periods, viz. Original annuity Reduced by deaths, 1745. Subscribers for ten tickets of the lottery to have an granted. Feb. 1, 1802. annuity of 4: 10 for their own life or tha...