neighbours have already reduced their monetary systems; but there
is fortunately a very general feeling that we are a country with a
reputation and a prestige on this point; and the business world is
growing restive concerning the delay on the part of those responsible
in putting an end to a state of things which may have been justified
by […]

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of the Exchequer, concerning which more anon, of leaders of various
groups of the Labour Party, to press upon Mr Bonar Law the principle
of what is called ‘the Conscription of Wealth,’ and the publication at
or soon after that time, which was about the middle of November, of a
pamphlet on the subject of the ‘Conscription of Riches,’ […]

into the sense of wealth set aside to increase production
Later, the definition was narrowed by John Stuart Mill, for instance,
into the sense of wealth set aside to increase production. From this
point of view capital practically means the equipment and tools of
industry in the widest sense of the word, including agriculture and
transport. Lately economists have shown […]

the function of issuing paper money from that of keeping current
accounts, so we shall separate the function of keeping current
accounts from that of money-lending
‘Just as we have (except for some obsolescent survivals) separated
the function of issuing paper money from […]

borne by taxation, the effect of this measure would have been that
everything which was needed for the war would have been placed at the
disposal of the Government by a reduction in spending on the part of
those who have the spending power
Had the Government laid down that the whole cost of the war was to be
borne […]

COMPARATIVE WAR FINANCE
The New Budget–Our own and Germany”s Balance-sheets–The Enemy”s
Difficulties–Mr Bonar Law”s Optimism–Special Advantages which Peace
will bring to Germany–A Comparison with American Finance–How much have
we raised from Revenue?–The Value of the Pound To-day–The 1918 Budget
an Improvement on its Predecessors–But Direct Taxation still too
Low–Deductions from the Chancellor”s Estimates

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ever-increasing elimination, from the British banking business, of
the typical profit-maker, first as partner in a private bank, then
as a director in a Joint Stock bank, representing a large personal
holding of shares; and the gradual transfer of practically the
whole conduct […]