Excerpt from The National Debt Financially Considered
In the early part of the year 1857, a public announcement was made by the Council of the Society of Arts, that a sum of Two Hundred Guineas had been placed in their hands for the purpose of promoting an investigation into the financial condition of the country - the desired investigation to take the form of an "Essay on the present Financial Position of the Country, as affected by recent events, in which the principle of a Sinking Fund should be discussed, and also an investigation made as to the best mode of gradually liquidating the National Debt." The competing Essays to be delivered to the Society of Arts on or before the 31st day of December in the same year.
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