PUBLIC PURSE.
ECONOMY BY KOAIE COVERNAIENT. CREDITST AXi >S U XIAI PA IR EL-. LONDON. July 25. Air. Stanley Baldwin, the Prime Almistci, at the Lord Mayor’s banquet to bankers and merchants at the Guihlha.il, replied to the toast “the public purse.” He said thal/in three years out of income the country liaci reduced its debts by £-100,000,000, and had nearly halved the. floating debt" from £ 1,500,000,000 to £800.000,000. They had also paid all foreign debts, except American. They had paid Japan £20,000,000, South America £25,000,000, and as much again n> loans to Canada. The staff in the Government offices was now only ten per cent, greater than before the war. ’.Hiesc things had been accomplished at a price, hut that price resulted in maintaining unimpaired England’s credit, which ciedit was the life-blood of her commerce.—A. and N.Z.C.A.
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Bibliographic details
Gisborne Times, Volume LIX, Issue 9574, 27 July 1923, Page 5
Word Count
138PUBLIC PURSE. Gisborne Times, Volume LIX, Issue 9574, 27 July 1923, Page 5
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