HOMELAND’S DEBTS
A GREAT ACHIEVEMENT. (Australian and N.Z. Cable Association.) LONDON, July 25. Mr. Baldwin, at the Lord Mayor’s banquet to bankers and merchants, at the Guildhall, replied to the toast ‘ The Public Purse.” He said that in three years, out- of income, the country had reduced its ■debts by four hundred millions, nearly halved the floating debt from fifteen hundred to eight hundred millions,
mini vj. drills jiiijiuivvi and also paid all foreign debts, except the American. It had paid Japan twenty millions, and South America twenty-live millions, and as much again in loans to Canada. The staff in the Government offices was now only ten per cent, greater than before the war. These things were accomplished at a price, but that price resulted in maintaining unimpaired English, credit, which credit was the life-blood of commerce.
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Greymouth Evening Star, 26 July 1923, Page 5
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137HOMELAND’S DEBTS Greymouth Evening Star, 26 July 1923, Page 5
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