Sentence:  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 <WSD>irredeemable</WSD> annuity, for a long term of years, of only equal amount. 
Meaning of the word marked with <WSD> tags:  Not able to be cancelled by a payment or converted to another form of currency or financial instrument, especially one considered more secure or reliable.