"The holder of an Exchequer bill does in fact hold a mortgage on all the property, both movable and immovable, in the United Kingdom; a mortgage binding in law, but more binding still in the unbroken faith of the inhabitants of the United Kingdom. Exchequer bills are a species of Government paper money... simply orders upon the Exchequer, entitling the bearer to the sum specified therein, together with interest at a fixed rate per cent, per day, until a period is named for their payment, that period being at the option of the Government, but seldom exceeding twelve months..."