You read in The Wall Street Journal that 30-day T-bills currently are yielding 8 percent.
Your brother-in-law, a broker at Kyoto Securities, has given you the following estimates
of current interest rate premiums:
Original Title
Winchelsea Affords an Unusual Instance of a Sitting MP Wresting Control of A
You read in The Wall Street Journal that 30-day T-bills currently are yielding 8 percent.
Your brother-in-law, a broker at Kyoto Securities, has given you the following estimates
of current interest rate premiums:
You read in The Wall Street Journal that 30-day T-bills currently are yielding 8 percent.
Your brother-in-law, a broker at Kyoto Securities, has given you the following estimates
of current interest rate premiums:
Winchelsea affords an unusual instance of a sitting MP wresting control of a
pocket borough from its
"patrons", so as to be able to be sure of securing re-election on his own account. In the first half of the 18th century, Winchelsea was a "treasury borough", that is one where the influence of the government was so strong that ministers were able to consider themselves the patrons and were sure of the power to choose both MPs. In 1754, however, one of the government candidates was an Irishman named Arnold Nesbitt. Once elected, Nesbitt began to buy houses in Winchelsea so as to secure influence over the freemen, and was so far successful that by the time of the next election it was accepted that he had the absolute command of one of the seats; indeed, when he stood well with the Treasury he was also allowed to nominate for the other. For the rest of his life he successfully defended his control of Winchelsea from the free-spending of the Treasury's agents; on one occasion, it appears that the town clerk was directing the government campaign and finding himself needing more funds for the purpose than had been provided pawned the town's charters and civic regalia.