UNIQUE GIFT
HALF A MILLION STERLING
FOR REDUCTION OF BRITISH DEBT
By Telegraph.—Press Association.
Copyright.
(Rec. February 7, 7.15 p.m.)
London, February 6.
A unique gift of half a million sterling has been anonymously sent to the Chancellor of the Exchequer, to be managed in trust for the benefit of,.the nation. The capital is to accumulate at compound interest for a long period of years. Ultimately, together with the accrued proceds, it will be applied to the reduction of the national debt. The bankers, Baring Bros., who will hold the money, also forwarded a letter from the donor, saying that gifts to the nation.of historic sites and works of art, happily, were frequent, but gifts to repay the debt were comparatively rare. The donor expresses the hope that others from time to time will be prompted to add to or establish similar funds, citizens and city uniting in an attempt to free the country from debt. Dlr. Churchill, on behalf of the Government, in publicly acknowledging the gift, says it is important, and unprecedented in character. He regrets that he is unable to thank the donor by name.
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Bibliographic details
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Dominion, Volume 21, Issue 111, 8 February 1928, Page 9
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188UNIQUE GIFT Dominion, Volume 21, Issue 111, 8 February 1928, Page 9
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