THE PUBLIC PURSE
A THREE YEARS’ EFFORT.
HOW BRITAIN PAYS DEBTS.
A CLEAN CREDIT.
(Per Press Association, Copyright.) (Received This Day, 9.15 a.m.) LONDON, July 25.
Mr Baldwin, British Premier, speaking at the Lord Mayor’s banquet to bankers and merchants at the Guildhall, relied to the toast “The Public Purse.” He said in three years out of income the country reduced public debts by 400 millions, nearly halved the floating debt from 1500 to 800 millions, and also paid all foreign debts except American. It had paid Japan 20 millions and South America 25 millions and paid as much again in loans to Canada. The staff in the Government offices was now only 10 per cent, greater than before the war. These things were accomplished at a price, but that price resulted in maintaining unimpaired the English credit, which credit was the lifebl<?od <?f commerce.
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Bibliographic details
Ashburton Guardian, Volume XLIV, Issue 9877, 26 July 1923, Page 5
Word Count
145THE PUBLIC PURSE Ashburton Guardian, Volume XLIV, Issue 9877, 26 July 1923, Page 5
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