ISBN: 1130833038

[EAN: 9781130833034], Neubuch, [PU: RareBooksClub], GREAT BRITAIN. PARLIAMENT,WORLD,ENGLAND, This item is printed on demand. Paperback. 844 pages. Dimensions: 9.7in. x 7.4in. x 1.7in.This… Altro …

[EAN: 9781130833034], Neubuch, [PU: RareBooksClub], GREAT BRITAIN. PARLIAMENT,WORLD,ENGLAND, This item is printed on demand. Paperback. 844 pages. Dimensions: 9.7in. x 7.4in. x 1.7in.This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1853 Excerpt: . . . of about 5J per cent. In 1821 you funded 7, 000, 000. ; The Chancellor of the Exchequer in 1826, 8, 000, 000. ; in 1830, 3. 000. OOOZ. ; and in 1841, 3, 800, 000. , altogether the amount I have before mentioned, namely, 48, 800, 000. ; and the average rate of interest which the country is now paying for that 48, 00, 000. is, as nearly as possible 5 per cent. There is, then, a permanent obligation entailed on the country of 5 per cent on 48, 800, 000. , which previous j to 1819 was unfunded debt, but is now funded, and which arises from the practice of not funding till difficult times. It is fair to admit that the case is not quite so bad as it looks, because the funding of 1819 must be regarded as retrospective--it was effecting a transition from a war state to a peace state of finance. Deduct, therefore, the operations of 1819, and take the operation of the subsequent periods from 1821 to 1841, and it will be seen that the rates of interest at which the unfunded debt was funded from that time, after all, were not so much more favourable. Tho average rate was 4. 6s. 8d. per cent, which is the permanent burden inflicted on the public in respect of each 100. which was the capital of the unfunded debt. That is entailed for ever. I think I am justified, then, in the assertion that that unfunded debt is not the cheap and economical portion of the public obligations which it seems to be, but that, in point of fact, in the long run, where you watch its working, you will find that it is a very expensive portion of the public burdens. Even the rate of interest upon Exchequer bills, although we may be much gratified that it is Id. or ld. or lid. a day, which are very moderate rates, are not quite so favourable as may be supposed, for if we take tho average rate of Exchequer bills. . . This item ships from La Vergne,TN.<

ISBN: 9781130833034

Paperback, [PU: Rarebooksclub.com]