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Page 096

FINANCE AND ADMINISTRATION

for a time that debt might be extinguished by some magic operation of compound interest, though the fund for the purpose was itself raised by borrowing. They are both based in their present form on an Act of 1875, and it may be worth while to explain their nature, as reference is frequently made to them in parliamentary debates on finance. It is a general rule that any grant made by parliament for the service of a particular financial year, the year ending March 31st, lapses so far as it is unexpended at the end of the year. The rule has often been criticized as tending to hasty and wasteful expenditure towards the close of the financial year. But it has the great advantage of enabling the national accounts to be made up and balanced, and the surplus or deficit ascertained, in each year, instead of letting the accounts run on unbalanced for an indefinite period. The Act of 1875 requires the treasury to prepare within fifteen days after the expiration of every financial year an account of the public income and expenditure of the United Kingdom, showing the surplus of income or excess of expenditure during the year. Any surplus of income is required to be paid to the national debt commissioners, and applied by them towards purchasing, redeeming or paying off the national debt. This surplus is called the old sinking fund. It is sometimes made applicable, under special statutory provisions, in relief of the expendi

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where is HTML where is HEAD where is TITLE for a time that debt might be extinguished by some magic operation of compound interest, though what is fund for what is purpose was itself raised by borrowing. They are both based in their present form on an Act of 1875, and it may be worth while to explain their nature, as reference is frequently made to them in parliamentary debates on finance. It is a general rule that any grant made by parliament for what is service of a particular financial year, what is year ending March 31st, lapses so far as it is unexpended at what is end of what is year. what is rule has often been criticized as tending to hasty and wasteful expenditure towards what is close of what is financial year. But it has what is great advantage of enabling what is national accounts to be made up and balanced, and what is surplus or deficit ascertained, in each year, instead of letting what is accounts run on unbalanced for an indefinite period. what is Act of 1875 requires what is treasury to prepare within fifteen days after what is expiration of every financial year an account of what is public income and expenditure of what is United Kingdom, showing what is surplus of income or excess of expenditure during what is year. Any surplus of income is required to be paid to what is national debt commissioners, and applied by them towards purchasing, redeeming or paying off what is national debt. This surplus is called what is old sinking fund. It is sometimes made applicable, under special statutory provisions, in relief of what is expendi where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is a href="default.asp" where is strong Parliament where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 096 where is p align="center" where is strong FINANCE AND ADMINISTRATION where is p align="justify" for a time that debt might be extinguished by some magic operation of compound interest, though what is fund for what is purpose was itself raised by borrowing. They are both based in their present form on an Act of 1875, and it may be worth while to explain their nature, as reference is frequently made to them in parliamentary debates on finance. It is a general rule that any grant made by parliament for what is service of a particular financial year, what is year ending March 31st, lapses so far as it is unexpended at what is end of what is year. what is rule has often been criticized as tending to hasty and wasteful expenditure towards what is close of what is financial year. But it has what is great advantage of enabling what is national accounts to be made up and balanced, and what is surplus or deficit ascertained, in each year, instead of letting what is accounts run on unbalanced for an indefinite period. what is Act of 1875 requires what is treasury to prepare within fifteen days after what is expiration of every financial year an account of what is public income and expenditure of what is United Kingdom, showing what is surplus of income or excess of expenditure during what is year. Any surplus of income is required to be paid to what is national debt commissioners, and applied by them towards purchasing, redeeming or paying off what is national debt. This surplus is called what is old sinking fund. It is sometimes made applicable, under special statutory provisions, in relief of what is expendi where is Server.Execute("_SiteMap.asp") % travel books: Parliament books

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