Moted
on, ought--in my view--to be charged against
revenue,not against loan moneys. Apart
from major calamities--occurrences such as
war, famine, and cataclysms of the kind--the
ideal ought to be a public debt which is
remunerative,or nearly remunerative. That is
the position which India--for example--has att-
ained, to her very great advantage. The practical
danger of charging administrative,but not
commercially productive, works to loan funds
is obvious.
One cannot of course apply this
system as a rigid rule; but the closer one gets
to it, in the case of the "established" Colonies,
the better it will be.
I should like to see the surplus balances much
larger--standing at roughly six months' normal
revenue,and with a considerable proportion
of this " liquid".
The 24-1-32.
24/1/32
Now draft despatch for
124/12/24/15 to Gov. 48 (7 aned)
Liby
STATU
UND STATUTE
Canadi
•
It Calder
Enquires whither the £,80 to ind
Int Ins, and exerred.
سرا
addition.
85200.
14
25-113 tam
21.11
is the
·(12),
to the normal contribution
P.T.O
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