ABSTRACT
The present policy of drift in regard to the National Debt of Great Britain is not likely to inspire confidence of the money market or lead to lower rates of interest, so much needed for home industrial developments. But a higher sinking fund, combined with a reduction in the rate of foreign investment, would tend to cheapen money at home and facilitate development of the national resources of Great Britain. There is enough evidence now to assure us that the internal capital market of Britain could be profitably employed for some years to come in supplying the financial means for carrying out the new industrial revolution. The argument is sometimes used by those who would concentrate solely on raising the purchasing power of the home consumers by living wages and family allowances that mass production for the home market would make it possible to sell cheap for the export market and so re-establish the competitive position of Britain.
