The System of National Finance
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In our eReader you can find the full English version of the book. Read The System of National Finance Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The System of National Finance
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But if, when the investor shakes his head over a proposed loan and asks for a prohibitive rate, the Government says, " Very well ; take your usury on a short-term security to be repaid in a year or two. Then we will convert the floating debt into fixed debt, and perhaps something lucky may have turned up by that time, to make things easier for us, " it is then dodging the restraint which public opinion is seeking to put upon its borrowings. Does it get much good out of the transaction? It gets ...its money, of course; but it would probably have been better without it. By exhibiting itself as forced to borrow for short periods at high rates it injures its credit. The hawking about of its short-term bonds and bills constantly advertises its difficulties ; and when the time for their repayment comes, at which it once hoped to be able to convert them into fixed debt on favourable terms, it probably finds that the opera- tion which was intended to tide over its evil days has had no other effect than to prolong them.
What to read after The System of National Finance?
You can find similar books in the "Read Also" column, or choose other free books by Edward Hilton Young Kennet to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
But if, when the investor shakes his head over a proposed loan and asks for a prohibitive rate, the Government says, " Very well ; take your usury on a short-term security to be repaid in a year or two. Then we will convert the floating debt into fixed debt, and perhaps something lucky may have turned up by that time, to make things easier for us, " it is then dodging the restraint which public opinion is seeking to put upon its borrowings. Does it get much good out of the transaction? It gets ...its money, of course; but it would probably have been better without it. By exhibiting itself as forced to borrow for short periods at high rates it injures its credit. The hawking about of its short-term bonds and bills constantly advertises its difficulties ; and when the time for their repayment comes, at which it once hoped to be able to convert them into fixed debt on favourable terms, it probably finds that the opera- tion which was intended to tide over its evil days has had no other effect than to prolong them.
What to read after The System of National Finance?
You can find similar books in the "Read Also" column, or choose other free books by Edward Hilton Young Kennet to read onlineMoreLess
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