Economic Problems of Peace After War Second Series the W Stanley Jevons Lect
Economic Problems of Peace After War Second Series the W Stanley Jevons Lect
Scott, William Robert, 1868-1940
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II. Pp. 435, 587-608. 4 E. G. , Schmalz, who spoke of State debts as a great evil, Handbuch der Staatswirthschaft, 1808, §§ 419-423. 6 L. H. Von Jacob, Die Staatswirthschaft, 1821, § 728. 6 F. Nebenius, Der offentliche Credit, 1820, p. 429. 7 Sta*e Tracts of William III, 1689, 11. P. 116. The Financial Burden of Today and of Tomorrow 5 1 A more definite position was taken by Dietzel, who distin- guished between ordinary and extraordinary expenditure, the latter being that which is non-recurrent.... Taxes suffice for the ordinary outlay, whereas the extraordinary (which includes all expenditure on the maintenance and extension of the national establishment) ought to be met by loans as a matter of course 1 . Stein, like Dietzel, endeavoured to incorporate the defence of loans into a system of national finance. Borrowing for extra- ordinary expenditure is a necessary and organic part of the life of a State forming part of the higher statesmanship. The State, without a debt, either does too little for its future or rests too much upon its past.
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