ABSTRACT
This chapter contains every thing necessary to be known for perfectly understanding the nature of securities, and the mode of doing business therein. The funds owe their foundation to the various loans borrowed by the government of this country, from the public, through the medium of incorporated companies, or private bodies of individuals, between the close of the list century and the present time. There are other Public Securities, transferable from one person to another, such as Navy, Victualling, and Exchequer Bills, India Bonds, and Ordnance Debentures. These are very proper Investments for cash that is liable to be suddenly called for; being always marketable, particularly the India Bonds, which with the interest due upon them up to the very day on which they are sold, are transferable to the purchaser, ply by a note, or bill from the broker or holder who sells them.
