The Quarterly Journal of Economics
The Quarterly Journal of Economics
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In our eReader you can find the full English version of the book. Read The Quarterly Journal of Economics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Quarterly Journal of Economics
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6d., thus revealing an actual deficit in the stock account of £2,624 2a. lOd. Inasmuch as there had been a surplus of £11,078 Ss. 4d. in 1777, it was claimed that this statement showed a clear loss to the coU^e of £13,702 68. 2d.
The following extract from the memorial to the General Court, from which the above is taken, furnishes an ex- planation of the manner in which this estimate of the investments was made up: — It may be thought that this representation should be founded on the apparent a...nd not the real state of the funds; but if it is con- sidered that the stock, if it had been left in its original state, would have enabled them to swell it to at least four times the present appearance, they conceive that they have taken the ri^t method Digitized by Google 414 QUARTERLY JOURNAL OF ECONOMICS of calculation. The interest also on what was sunk by the pwper currency would in the last eight years have amounted to a large sum, the college having received in ei^t years in lieu of silver and gold £17,875 Sa, Id, Of this was invested in the public funds £15,600, ^diich, when consolidated, amounted only to £6,070 4s, and will now sell only for the sum of £758 158.
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You can find similar books in the "Read Also" column, or choose other free books by Harvard University to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
6d., thus revealing an actual deficit in the stock account of £2,624 2a. lOd. Inasmuch as there had been a surplus of £11,078 Ss. 4d. in 1777, it was claimed that this statement showed a clear loss to the coU^e of £13,702 68. 2d.
The following extract from the memorial to the General Court, from which the above is taken, furnishes an ex- planation of the manner in which this estimate of the investments was made up: — It may be thought that this representation should be founded on the apparent a...nd not the real state of the funds; but if it is con- sidered that the stock, if it had been left in its original state, would have enabled them to swell it to at least four times the present appearance, they conceive that they have taken the ri^t method Digitized by Google 414 QUARTERLY JOURNAL OF ECONOMICS of calculation. The interest also on what was sunk by the pwper currency would in the last eight years have amounted to a large sum, the college having received in ei^t years in lieu of silver and gold £17,875 Sa, Id, Of this was invested in the public funds £15,600, ^diich, when consolidated, amounted only to £6,070 4s, and will now sell only for the sum of £758 158.
What to read after The Quarterly Journal of Economics?
You can find similar books in the "Read Also" column, or choose other free books by Harvard University to read onlineMoreLess
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