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Often appears with: public finance and debt · taxation, tribute, and revenue · the city and urban life · tax relief for labouring poor · speech from the throne · sinking fund origin · silver value depreciation · silver as standard of value · public debt reduction · public credit vs unauthorized debt · perpetual funding · parliamentary inquiry
Usually: argument (6) · skepticism (3) · censure (2) · commentary or gloss (1) · injustice endured (1) · detachment (1) · exhortation (1) · indignation (1)
“Thus they established an arbitrary standard for that dignity which Parliament had defined and limited to a legal standard.” Edmund Burke, Thoughts on the Present Discontents, and Speeches · insight
Jefferson details debt reduction and available treasury funds, explains how Louisiana’s acquisition would add debt yet remain manageable without new taxes, notes postponing remittances and gunboat spending, and reflects on renewed European war.
that the revenue accrued during the same term exceeds the sum counted on as sufficient for our current expenses and to extinguish the public debt within the period heretofore proposed. The amount of debt paid for the same year is about $3.1 millions exclusive of interest, and making, with the payment of the preceding year, a discharge of more than $8.5 millions of the principal of that debt, besides the accruing int…
He argues that treating Civil List debt like parliamentary national debt misrepresents public credit, and claims Ministers promised nothing to confine expenses, instead citing the “honour of the Crown.”
regularity things that could not possibly come before them. After this stroke of orderly and Parliamentary wit and humour, they went into the Committee, and very generously voted the payment. There was a circumstance in that debate too remarkable to be overlooked. This debt of the Civil List was all along argued upon the same footing as a debt of the State, contracted upon national authority. Its payment was urged …
Smith argues that despite huge revenues the East India Company accrued debts, cut its dividend, begged government for a loan, and triggered a parliamentary inquiry that reshaped governance in India and Britain.
But during the two years in which their agreement with government was to take place, they were restrained from any further increase of dividend by two successive acts of parliament, of which the object was to enable them to make a speedier progress in the payment of their debts, which were at this time estimated at upwards of six or seven millions sterling. In 1769, they renewed their …
Smith estimates revenue from taxing all provinces, deducts Ireland and plantation civil and debt costs, and claims a large sinking fund could repay the public debt and reduce burdens on necessities.
the labouring poor. Their consumption would increase, and, together with it, the revenue arising from all those articles of their consumption upon which the taxes might be allowed to remain. The revenue arising from this system of taxation, however, might not immediately increase in proportion to the number of people who were subjected to it. Great indulgence would for some time be due to those pro…
Smith explains the origin of Britain’s sinking fund from interest-rate reductions (from six to three percent) and says sinking funds make it easier to contract new debts by serving as a backup mortgage.
and 1757, to three and a-half, and three per cent., which reductions still further augmented the sinking fund. A sinking fund, though instituted for the payment of old, facilitates very much the contracting of new debts. It is a subsidiary fund, always at hand, to be mortgaged in aid of any other doubtful fund, upon which money is proposed to be raised in any exigency of the state. Whether the sinking fund of Great …
Smith argues that postwar debt reductions were partly funded by extraordinary receipts (land tax surcharge, East India Company indemnities, and a bank payment) and that this makes full debt repayment by peacetime savings unlikely.
The produce of French prizes L.690,449 18 9 Composition for French prisoners 670,000 0 0 What has been received from the sale of the ceded 95,500 0 0 islands ______________ Total, L.1,455,949 18 9 If we add to this sum the balance of the earl of Chatham…
This passage is an index listing on silk manufacture, silver as a standard of value, and sinks funds, describing coinage rules, silver’s value dynamics, and failures of the British sinking fund.
*Silk manufacture*, how transferred from Lucca to Venice, 166. *Silver*, the first standard coinage of the northern subverters of the Roman empires, 16. Its proportional value to gold regulated by law, 17. Is the measure of the value of gold, ib. Mint price of silver in England, ib. Inquiry into the difference between the mint and market price of bullion, ib., 18. How to preserve the silver coin …