ENGLAND'S CREDIT.
LIFE-BLOOD OF COMMERCE. SOMETHING TO BE PROUD OF. <A. and N. Z. Cable., LONDON, July 25. At the Lord Mayor’s banquet to 'the bankers and merchants at the Guildhall, in reply to the toast of the public purse, the ’Lord Mayoi ■said that in three years, out of income, the country had reduced its debts by £400,000,000, and nearly halved the floating debt from fifteen hundred to eight hundred millions. Britain had also paid all her foreign debts except American. She : had paid Japan twenty millions, South America twenty-five millions, and as much again in loans to Canada. The staff in Government offices were now only 10 per cent, greater than before the war. These things had been accomplish-
ed at a price, but that price had resulted in maintaining unimpaired t England’s credit, which credit was 'the life-blood of commerce.
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Bibliographic details
Thames Star, Volume LVII, Issue 15886, 26 July 1923, Page 5
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143ENGLAND'S CREDIT. Thames Star, Volume LVII, Issue 15886, 26 July 1923, Page 5
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