BLEEDING THE GOVERNMENT
The annual introduction of a loan budget into the English Parliament is beginning to to be advocated at Home. It is said that " Parliament is continuously informed, and in great detail, of what is spent for national objects ; but it only knows intermittently what it lends." £67,000,000 is calculated to have been loaned out for private purposes since 1792, of which £12,228,000 has been lost—that is to say will not be repaid. During the last financial year £466,000 was paid as interest on outstanding loans. The rate of interest received is said to be so small as "to be little better than a nominal rate." Borrowing for local bodies does not become more clearly limited by creat-; ing a maximum number of such bodies.
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Mount Ida Chronicle, Volume VII, Issue 365, 4 March 1876, Page 3
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127BLEEDING THE GOVERNMENT Mount Ida Chronicle, Volume VII, Issue 365, 4 March 1876, Page 3
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