The National Mirror (Classic Reprint)
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| Partner: | buecher.de |
| Hersteller: | Forgotten Books (Author, Unknown) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from The National Mirror For although the payment of every two millions will certainly reduce the change for interest 60,000l. it is evident that taxes to that amount cannot be taken off in every year while peace continues, because the two millions so applied, at the same time that they take off so much of the debt, take off also so much of the tax as contributes, by its amount, to form the surplus of two millions. Whoever therefore should pay off the national debt by discharging the sums of money which are imposed on the respective objects, which, by their excess beyond the interest for which they are engaged, create the sinking fund, will resemble that gardener, who should cut off the great bearing branches of his trees, and still expect the small ones to produce as much fruit as before; or a farmer, who, intending to water his meadows by an overflowing of a stream, should previously avert the source from whence it is derived. Hence it evidently appears, that the two millions arising in the manner, and to be applied in the method proposed in The State of the Nation, can never be produced by the sinking fund, for a longer term than one year, if those taxes are redeemed which gave that fund its existence. The national debt will therefore take up an immense time in being thus discharged, and the difficulties of the nation cannot be said be over, should that plan of payment be adopted by the nation. It may be justly said, that there are other taxes to be paid off, which either do not produce the full interest of those sums of money which have been borrowed of them, or only that sum which is sufficient to the interest; and therefore that such may be discharged without lessening the surplus of the sinking fund. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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