WAR-TIME BORROWING
BRITAIN’S PAWNED SHIRT. Mr Stanley Baldwin, in one of his recent speeches, said: —“The silliest remark ever made, was, ‘What is the use of saving? We found the money in war-time. Why not now?’ The answer is that during the war we found all there was to be found. We borrowed to such an extent that we have mortgaged our assets for generations. In other words, we pawned our shirt and we have not another shirt to pawn.” Mr Baldwin added that we poured out money in loans to our Allies. “We have not be?n repaid very much of that. We have had nothing repaid by Russia, but we paid our debts."-
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Southland Times, Issue 21605, 18 January 1932, Page 2
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114WAR-TIME BORROWING Southland Times, Issue 21605, 18 January 1932, Page 2
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