There was a maxim laid down in an excellent book on the Wealth of Nations, which had been ridiculed for its simplicity, but which was indisputable as to its truth. In this book it was stated that the only way to become rich was to manage matters so as to make one’s expenses not exceed one’s income. This maxim applied equally to an individual and to a nation. The proper line of conduct, therefore, was by a well-directed economy to retrench every current expense, and to making as large a saving during the peace as possible… He should not think that, as prospect of recovery was opened, the country was likely to be restored to its former greatness, unless ministers contrive some measure or other to pay off a part at least of the National Debt, and did something towards establishing an actual sinking fund, capable of being applied to a constant and sensible diminution of the public burdens.
Posted on: Fri, 13 Sep 2013 17:17:24 +0000
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