ABSTRACT
The main principle of the proposed measure consists in the opening the market for government annuities on terms of profit to government. The annuities, thus created, to be employed, as it comes in, in the redemption of debt, and thence in exoneration of that fund. By taking from the load of government annuities which is found pressing on the market, the sale of the Land Tax for stock has bettered the terms of all succeeding loans. Reducing the mass of the national debt, the operation on the Land Tax takes nothing from the mass of national capital; the proposed measure adds to it. A sort of discovery in political economy has been made of late that commercial security is not less liable to suffer by deficiency than by excess, in respect of the customary quantity of paper in circulation. The politico-economical advantage, the addition made to the mass of national productive capital, and thence to the mass of growing wealth.
