The Present State of the National Debt
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| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from The Present State of the National Debt: With Remarks on the Nature of Our Public Funds, and the Uses Which a Large National Debt May Be to a Sole M R It was after the Suppression of the late Rebellion that the Parliament began to take Measures for reducing the National Debt, and establishing proper Funds for Paying off the whole in Time. In the Year 1716, when this great Work was set about, the Debt of the Nation was 53, 743, 438 l. 19 s. which immense Sum consisted, First, In absolute Annuities that could be no otherwise discharged than by the wearing out of the Terms of which they were granted; which Terms were commonly very long. Secondly, In the Capital Stocks of the South Sea Company, the Bank of England, and the India Company; all which were at very high Interest. Thirdly, In Debts to a great many People both at Home and Abroad, for whose Payment particular Funds were appropriated; but the Interest they received in the mean Time was very high. Fourthly, In Exchequer-Bills, which were circulated at an immense Charge to the Nation, on account of the high Interest which Premiums, &c. bore. 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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