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Newspaper
Historical Register
Location
London, Middlesex, United Kingdom
Date
Jan 01, 1728
Page
63
The text recounts how public credit was stabilized by reducing interest on redeemable debts from 6 to 5 percent, securing voluntary contributions from South Sea Company and other creditors. It notes the transfer of funds to pay principal to holders of redeeemable debts and the creation of the sinking fund, leading to improved security of capital and higher debt prices.
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