The National Debt
Sir, —This year the amount of the national debt appears in your issue of September 6 as £782,110,997 4s. Evidently to assuage any public alarm that this may occasion, we are also informed that since 1925 £98,927,641 13s has been repaid. From this one could be excused from concluding that It is only a matter of time before the whole amount is wiped out altogether. In 1925 our national debt stood at £227,814,647 and since 1931 Britain has held £26 millions as a contingent liability (not included in present day figures). Actually therefore we have borrowed £679 millions -since 1925 and repaid £99 millions, an average of over £2O millions per annum borrowed, out of which we have repaid an average of £3 millions per annum. Surely we must be living beyond our income all the time. —Yours, etc., IKONA MAU.
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Bibliographic details
Press, Volume XCVII, Issue 28697, 22 September 1958, Page 3
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144The National Debt Press, Volume XCVII, Issue 28697, 22 September 1958, Page 3
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