in stating the financial position of a country or of an individual, you may leave out of question any sums which may have been borrowed during the period in question. If you pay off 1,000l. of debt with one hand and borrow 800l. with the other, you cannot take credit for having diminished your debt by 1,000l. After this transaction, you owe 800l.; therefore you have only reduced your debt by 2001. I showed on the fairest basis and latest approved mode of stating the liabilities of the Government, that in 1880 they showed a reduction on the four previous years of 11 millions, and in 1884 a reduction of 25 millions. If you want to dispute this fact you must dispute the figures, and until you have shown that they are wrong, the fact must remain; and while the fact remains unshaken, I am entitled to deduct the amounts by which the debt has been reduced from the unproductive expenditure of both Governments. A. I still hold that to debit the country with the loan expenditure and also with the sum expended in repaying the loan would be to charge the amount twice over. I take my original illustration: If I borrow 100l. in March, and spend it in buying a boat, and then in October I repay the loan, my expenditure is 100l. and not 2001. B. I think, as a matter of fact, you would in such a case find yourself debited in your pass-book with an additional expenditure of 200l., viz. 100l. for paying your boat-builder, and 100l. for repaying your bankers six months later. But that is of little moment. Where you are in error is, in supposing that what the Government borrowed for Fortifications in March it repaid in October. The Government only raise a loan for charges which their annual income will not meet. The Government are now paying off what the late Government borrowed for Fortifications. So the contention about a double charge is contrary to facts. Downing Street: November 21, 1884. The Editor of THE NINETEENTH CENTURY cannot undertake to return unaccepted MSS. INDEX TO VOL. XVI. The titles of articles are printed in italics. Ao ACH CHEEN, our abandonment of, 502 Alexandria, bombardment of, 229-231 America, North, federal government in, Ampthill (Lord), death of, 801 Argyll (Duke of), replied to by Mr. A corrected Picture of the Highlands, Argyllshire, statistics of farmholding in, Arnold-Forster (H. O.), The People of England versus their Naval Officials, Artisans, how to provide, with technical Artisans' Dwellings Act and the Lords, Ashburner (Lionel), The Spoliation of Ashdown Forest, 333-334 Atkinson (J. Beavington), The Art BABEN, Powell Baden-Powell (George), The Ex- Bees, instincts of, modified, 440 Berlin Picture Gallery, the, 653-657 CLA Bilston family, the, 569-575 Black Death in East Anglia, the, 915-934 Borrow (George), his notice of the Bowstead (Dr. T.), his account of an Brabazon (Lord), State-directed Emigra- Brabourne (Lord), What will the Peers Brussels, International Congress of deaf- Burns and Goethe, a parallel, 761–762 479-480 Buxton (Sydney), Over-Pressure, 806- 825 Byron (Lord), compared with Heinrich YAMERON (J. A.), Storm-clouds in Canadian Government, memorandum of, Canterbury, pilgrimages of lepers to, - (Archbishop of) on emigration to re- the deaf and dumb, quoted, 579 Castle Garden Labour Bureau, at New Cathcart (Lady Gordon), emigration Charters of the City Companies, 52–53 China, leprosy in, 214 religion of, 363, 830 Clarendon (Lord), his description of CLA William, Earl of Pembroke, quoted, Clarke (Edward), Conservative and - - representation of, in the Imperial - federation of, with Great Britain im- Comte, the Positive system of, see Posi- Co-operation, productive, 636 County Characteristics: Sussex, 320- Craik (Mrs.) on Sisterhoods, 350 Crofters' Commission, report of the, cri- Cross (Sir Richard Assheton), City of mode of representation in, 939 DAI AIRY-FARMING, neglect of, 604 Davey (Horace), on the law relating to Deaf and Dumb, our, 576–597 Deer forests in the Highlands, the ques- De l'Epée (Abbé), founder of an institu- on State-directed emigration, 784- Dewey (Melvil), his scheme of literary Dicey (Edward), The Surrender of FED Dicey (Edward), Lord Northbrook's Dog, artificial instincts of the, 443–444 Drapers' Company, 49, 58 Dudley (Robert, Earl of Leicester), sup- Dufferin (Lord), his report on the Sou- Dunster (Rev. Henry P.), England as East Grinstead Nursing Sisterhood, 347- Education, Technical, Report of the Egyptian Campaign, an American Cri Eliot (George), compared with Charles Elizabeth (Queen), supposed allusions 259 Something better than, 991-998 Eridge Forest, 334 Estimates, lengthened discussions of the, Ettrick, statistics of farmholding in, Evolution, a Limit to, 263–280 FARM, a, that pays, 568–575 Farming, suggestions concerning, Farms, large, disadvantages of, 607-608 "Faust, "ein Fragment," 746-763 FED IRI ABERDASHERS' Company, 50, 53 Federation, Imperial, its Impossibility, Haerne (Monsignor de), his efforts 505-516 from an Australian Point of Fishmongers' Company, 49, 53 Food, imports of articles of, for 1882, Germany, the Expansion of, 869-878 Gladstone (W. E.), memorandum of, on visits of, to Karlsbad, 797-800 Goldsmiths' Company, 49, 53 Goodrich (Commander U.S.N), his re- for the deaf and dumb, 589-590 Hamilton (Lady George), Mission Hamilton manuscripts, purchase of, by Mr. Spencer's replies to, 3-26, 826 Heine (Heinrich), the Letters of, 118- Heinicke (Samuel), his system of teach- Hennessy (Sir J. Pope), Lord Beacons- Herbert (William, Earl of Pembroke), Hereditary principle of the Constitution, Hesse, federal government in, 103 Hlawacek (Dr.), his régime for Karls- Hong-Kong, value of, to Great Britain, Hornby (Sir E.), account of an appari- Howell (George), The House of Lords Hyndman (H. M.), Something better than [NDIA, leprosy in, 215-216, 224 port on the British operations in Importance of, to British com- MAC Kein Unravelled, 238-262 ACKAY (Dr. Charles), A Tangled English Songs, Ancient and Modern, Malayan peninsula, our possessions in Manning (Cardinal), on emigration, Marchant (Mr. G.), account of an appa- Margaret Street Sisters of the Poor,' Marlowe (Christopher), his supposed Massachusetts, condition of emigrant Mercers' Company, 47-48, 53, 58 Mivart (St. George), A Limit to Evolu- Molokai, the lepers of, 223 Monastery, Modern, Daily Life in a, 517– 529 |