First published in 1919, this book traces the growth of War Debt
during the First World War, examines the real meaning of the Debt
and discusses the proposals for clearing it. As the chief
contemporary proposal put forward for meeting the interest and
repaying the principal of the Debt was the "Conscription of
Wealth", or the "Capital Levy", this provides a main focus for the
analysis. The author also examines whether the methods of financing
war - by borrowing the required money - is sound and whether it
should be replaced by taxation. A plan for the reform of income tax
is put forward, designed to yield two-thirds of the revenue needed
for a Peace Budget that also addresses the War Debt.
General
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