SINKING FUNDS.
REFERENCE TO AUSTRALIAN DEBTS. By Telegraph.— Press Assoomtlon.—Copyrlgnt. LONDON, 23rd July. The Economist agrees with the views of Sir George Reid (High Commissioner for Australia) that Australian debts are on a different footing to war and armament debts, but opines that in times of prosperity surpluses should be applied to the reduction of debts. Most so-call-ed sinking funds do not represent the net surplus of income over expenditure, and are therefore quite useless.
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Evening Post, Volume LXXX, Issue 21, 25 July 1910, Page 7
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75SINKING FUNDS. Evening Post, Volume LXXX, Issue 21, 25 July 1910, Page 7
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