Proceedings of the grand juries, magistrates, and other noblemen and gentlemen, of the county of Glocester, on designing & executing a general reform in the construction and regulation of the prisons for the said county ... / by Sir G. O. Paul.
- Sir George Onesiphorus Paul, 2nd Baronet
- Date:
- 1808
Licence: Public Domain Mark
Credit: Proceedings of the grand juries, magistrates, and other noblemen and gentlemen, of the county of Glocester, on designing & executing a general reform in the construction and regulation of the prisons for the said county ... / by Sir G. O. Paul. Source: Wellcome Collection.
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![clafs of men to pay fuch an annuity, rather than fuch principal in prompt payment. To. elucidate this propofition, put a cafe hypo- thetically ; fuppofe an individual to have an option, either to pay 30,0001. prompt, or to pay that fum accumulated at compound intereft at 4 per cent, at the end of thirty years. At the end of that time it ■will require 97,0001. to pay it; if he employed his money in a 4 per cent, fund, of confequcnce his capi- tal in hand will have increafed to 97,0001. and, of courfe, he neither gains or lofes. But fuppofe the individual fo fituated as to employ the principal fum in any commercial or agricultural fpeculation, and pre- fuming a very moderate profit, that he makes 6 per cent, of his money, his capital will have increafed to 172,0001. and he will have gained 75,0001. by re- taining his principal. Now what is true in the large fcale, is more forci- bly true in detail. The profit made on fmall capi- tals, employed by the farmer or fiiopkeepcr, is pro- portionably greater than the profit on larger capitals; greater then muft be the advantage of retaining it. But to the cafe in point; is it advantageous to the farmer to pay il. per annum for thirty years, or (hall he im- mediately pay 17]. 5s. which is the price of its re- demption, at the intereft paid by the County? Sup- pofe the farmer to ufe his 17I. 5s. only at a profit of 6 per cent, it will at the end of thirty years have ac- cumulated to 99I. whil'ft to pay il. per annum for thirty](https://iiif.wellcomecollection.org/image/b28750160_0144.jp2/full/800%2C/0/default.jpg)
