BRITISH NATIONAL DEBT
REDUCTION OF INTEREST (British Official Wireless) (Received September 4, 5.5 p.m.) RUGBY, September 3. Although the National Debt on March 31 was £1,375,000 higher than a year earlier at £7,797,229,544, the cost of interest and management expenses was smaller. The amount expended on interest and expenses during the year was £210,872,730 against £211,533,776 for the previous year. The increase in the National Debt was due to issues of the funding loan to repay bonds falling due and to reduce the amount of Treasury bills outstanding in preparation for the defence loan. The external debt was reduced during the year by £3,982,094 owing to the repayment of 5J per cent, bonds issued in America.
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Southland Times, Issue 23297, 6 September 1937, Page 5
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116BRITISH NATIONAL DEBT Southland Times, Issue 23297, 6 September 1937, Page 5
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