Strona 819 z 2651

The interest was five per cent. in the year, and the commission

was never less than one half per cent. on each draught. This

commission being repeated more than six times in the year,

whatever money A might raise by this expedient might necessarily

have cost him something more than eight per cent. in the year and

sometimes a great deal more, when either the price of the

commission happened to rise, or when he was obliged to pay

compound interest upon the interest and commission of former

bills. This practice was called raising money by circulation.