BRITAIN’S WAR DEBT.

Taihape Daily Times, Volume XI, Issue 3454, 7 April 1920, Page 5

BRITAIN’S WAR DEBT.

REDEMPTION URGED.

LONDON, March 11.

The ch.Aa’il-man of the Select‘Committee on Wa.l"Ta,xation asked Mr Blackett, Controller of the Treasury: “is a _reduction. of the '-national debt vital, or -bran the country bear its present. burdens, tl'usting- to its industries and husilless to avoid danger?” Mr Blackctt gave evidence that it was. almost impossiblei ‘to-; fund the floating‘ debt of £1,2_00,000,000, owing to the high interest. Thepublic would probably not support a re-issue, and a financi:l.l crisis might ensue. A " Some scheme for quick redemption‘ was urgent, and £300,000,000 in cash ought to be secured iu- the first' year. It was imperative to tm-minate the everlasting‘ ‘increase in prices. " Ml"Blackett. indicated that a Wealth tux nlig‘t.-t beadvisable. =