It can never, therefore, make so convenient a transferable stock as a perpetual annuity, of which the real value may be supposed always the same, or very nearly the same.

因此，永久年金永远不可能使可转让股票变得如此方便，因为永久年金的实际价值可能总是相同或几乎相同。

An annuity for a long term of years, therefore, though its intrinsic value may be very nearly the same with that of a perpetual annuity, will not find nearly the same number of purchasers.

因此，长期年金虽然其内在价值可能与永久年金非常接近，但不会找到几乎相同数量的购买者。

In the other, it was supposed sufficient to pay the interest only, or a perpetual annuity equivalent to the interest, government being at liberty to redeem, at any time, this annuity, upon paying back the principal sum borrowed.

在另一种情况下，假定仅支付利息或与利息等值的永久年金就足够了，政府可以在偿还所借本金后随时赎回该年金。

The subscribers to a new loan, who mean generally to sell their subscription as soon as possible, prefer greatly a perpetual annuity, redeemable by parliament, to an irredeemable annuity, for a long term of years, of only equal amount.

新贷款的认购者通常打算尽快出售认购的，他们更喜欢可由议会赎回的永久年金，而不是不可赎回的年金，期限很长，只有等额的年金。

But if, by advancing their money, they were to purchase, instead of perpetual annuities, annuities for lives only, whether their own or those of other people, they would not always be so likely to sell them with a profit.

但是，如果他们通过预付资金购买终身年金，而不是购买永久年金，无论是他们自己的还是他人的，他们就不会总是很可能出售它们获利。