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. the fame annual sum of £ 3 per cent, but the old annuities have a quarter's interest more due on them than the new annuities, which amounts to 15 s. the exact difference. There is, however, one or two causes that will always make one species of annuities fell somewhat lower than another, though of the same real value, one of which is, the annuities making but a small capital, and there not being, for that reason, so many people at all times ready to buy into it, as into others, where the quantity is larger; because it is apprehended that whenever the government pays off the national debt, they will begin with that particular species of annuity, the capital of which is the smallest.,
A stock may likewise be affected by the court of Chancery; for if that court should order the money which is under their direction to be laid out in any particular stock, that stock, by having more pur. chasers, will be raised to a higher price than any other of the like value.
By what has been said, the reader will perceive how much the credit and interest of the nation depends on the support of the public funds. While the annuicies, and interest for money advanced is there regularly paid, and the principal insured by both prince and people (a fecurity not to be had in other nations) foreigners will lend us their property, and all Europe be interested in our welfare; the paper of the companies will be converted into money and merchandize, and Great Britain can never want cash to carry her schemes into execution.. . .to
In other nations, credit is founded on the word of the prince, if a monarchy; or that of the people, if a republic; but here it is established on the interests of both prince and people, which is the strongest fecurity: for however lovely and engaging honeity may be in other respects, incerest in money-matters will always obtain confidence; because many people pay. great regard to their interest, who have but little veneration for virtue.
A short Description of London * London, the metropolis of Great Britain, including Westminster and Southwark, is a city of a very surprising extent, of prodigious wealth, and of the most extensive trade; it is at once the largest and richest city in Europe. , This city is now what ancient Rome once was; the seat of liberty, the encourager of arts, and the admiration of the whole world.
It is situated on the banks of the Thames, a river, which, though not the largest in the world, is of the greatest service to its commerce. It being continually filled with feets, failing to or from the moft dif tant climates; and its banks being from Londonbridge to Blackwall, almost one continued great magazine of naval stores, containing three large wet docks, 32 dry docks, and 33 yards for the building of ships, for the use of the merchants, beside the places ailotted for the building of boats and lighters; and the king's yards lower down the river for building men of war. As this city is about fixty miles distant from the sea, it enjoys, by means of this river, all the benefits of navigation, without the dan. ger of being surprised by foreign feets, or of being annoyed by the moist vapours of the sea. It rises regularly from the water-side, and extending itself on both sides along its banks, reaches a prodigious length from east to west; surrounded on both sides by a number of large and populous villages, adorned with handsome commodious buildings, the countryfeats of gentlemen and tradesmen; whither the latter retire for the benefit of the fresh air, and to relax their minds from the hurry of business.
London is situated in 51° 30' north latitude, 400 miles fouth of Edinburgh, and 270 south-east of Dublin; 200 north-west of - Paris, 180 miles west of Amsterdam, 500 south-west of Copen
hagen, 600 north-west of Vienna, 136 north-west of Conftanti., nople, 800 north-east of Madrid, 850 north-eaft of Lisbon, and $20 north-west of Rome.
orth-weft of Vienna, 136, north-west of Confine orth-east of Madrid, 850 north-east of Lisbon, al