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Apology for Sinking-Funds (Classic Reprint)

Apology for Sinking-Funds (Classic Reprint)

33330080
1075 руб.
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Описание
Excerpt from Apology for Sinking-Funds

In the last generation, the National Debt was a bugbear which oppressed the spirits of Englishmen. Taxation was burdensome to a degree hardly conceivable by the young men of to-day: and of the scores of millions annually raised, more than half went to pay interest due to the public creditors.

Elderly men remember the time when the subject was discussed at the fireside of everyone who read a newspaper: when Attwood's "little shilling" and Cobbett's "sponge," divided the allegiance of the middle classes.

Gradually, the nation became inured to the load: as prosperity returned, as population multiplied, as opulence grew, the weight was less, felt.

Besides; though the principal of the debt remained nearly stationary, the rate of interest was much reduced; and frugality was forced on the government by the public. During the twenty years between 1831 and 1850 the taxes were only about 2 a head of population; less by a fifth than they had been between 1821 and 1830, and about half what they had been towards the close of the war.

Increasing opulence and decreasing taxation brought a sense of relief.

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