Economic Problems of Peace After War. (Second Series) the W. Stanley Jevons Lectures At University College, London, in 1918
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92, 155.
62 The Financial Burden of Today and of Tomorrow the new loans. If the war lasts into a second year^ the absence of revenue to cover the interest would re-act unfavourably upon the national credit. In the case of Germany the want of facilities for the raising of foreign loans has concealed the evils of an erroneous system of finance, but those effects remain and they have weakened Germany's effort during the war and still more they will delay her recovery when the war is over^.
If foll...ows, then, that the financing of a great war should be conducted by a combination of immediate taxation and of bor- rowing. But there still remains the determination of the ratio which ought to subsist between the two sources of revenue, so that they may be articulated as parts in a uniform plan. Upon several grounds taxation should be increased to a sufficient extent to meet the interest upon war loans. Those loans should be issued (as they can be) in a manner which will not produce inflation. This leads on to a doubtful point, namely, should new revenue be sufiicient to cover interest on the debt actually con- tracted at the date of the Budget, or, in addition to that, to provide interest for the further loans which will probably be floated during the current financial year?
What to read after Economic Problems of Peace After War. (Second Series) the W. Stanley Jevons Lectures At University College, London, in 1918?
You can find similar books in the "Read Also" column, or choose other free books by Scott, William Robert, 1868-1940 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
92, 155.
62 The Financial Burden of Today and of Tomorrow the new loans. If the war lasts into a second year^ the absence of revenue to cover the interest would re-act unfavourably upon the national credit. In the case of Germany the want of facilities for the raising of foreign loans has concealed the evils of an erroneous system of finance, but those effects remain and they have weakened Germany's effort during the war and still more they will delay her recovery when the war is over^.
If foll...ows, then, that the financing of a great war should be conducted by a combination of immediate taxation and of bor- rowing. But there still remains the determination of the ratio which ought to subsist between the two sources of revenue, so that they may be articulated as parts in a uniform plan. Upon several grounds taxation should be increased to a sufficient extent to meet the interest upon war loans. Those loans should be issued (as they can be) in a manner which will not produce inflation. This leads on to a doubtful point, namely, should new revenue be sufiicient to cover interest on the debt actually con- tracted at the date of the Budget, or, in addition to that, to provide interest for the further loans which will probably be floated during the current financial year?
What to read after Economic Problems of Peace After War. (Second Series) the W. Stanley Jevons Lectures At University College, London, in 1918?
You can find similar books in the "Read Also" column, or choose other free books by Scott, William Robert, 1868-1940 to read onlineMoreLess
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