Economic Problems of Peace After War Second Series the W Stanley Jevons Lect

Cover Economic Problems of Peace After War Second Series the W Stanley Jevons Lect
Economic Problems of Peace After War Second Series the W Stanley Jevons Lect
Scott, William Robert, 1868-1940
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II. Pp. 435, 587-608.
4 E. G. , Schmalz, who spoke of State debts as a great evil, Handbuch der Staatswirthschaft, 1808, §§ 419-423.
6 L. H. Von Jacob, Die Staatswirthschaft, 1821, § 728.
6 F. Nebenius, Der offentliche Credit, 1820, p. 429.
7 Sta*e Tracts of William III, 1689, 11. P. 116.
The Financial Burden of Today and of Tomorrow 5 1 A more definite position was taken by Dietzel, who distin- guished between ordinary and extraordinary expenditure, the latter being that which is non-recurrent
.... Taxes suffice for the ordinary outlay, whereas the extraordinary (which includes all expenditure on the maintenance and extension of the national establishment) ought to be met by loans as a matter of course 1 . Stein, like Dietzel, endeavoured to incorporate the defence of loans into a system of national finance. Borrowing for extra- ordinary expenditure is a necessary and organic part of the life of a State forming part of the higher statesmanship. The State, without a debt, either does too little for its future or rests too much upon its past.

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