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Resolution on Sinking Fund Use and National Debt
A 18th century Parliament debate argues against diverting the Sinking Fund for current-year services, insisting funds should be applied to reduce principal and debt to ease taxes and protect public credit. It contends that misapplying surplus payments perpetuates burdens on the poor and harms trade, urging adherence to original trust and equitable redemption. The discussion emphasizes creditors’ interests and the nation’s financial integrity.
MENTIONED IN THIS ARTICLE
House
House of Commons