Stanhope enacts Walpole's Sinking Fund to reduce the national debt (33 words)

Historical Context Note

  • Editors

Context

Stanhope puts into force Robert Walpole's Sinking Fund to reduce the national debt by annual instalments. The fund itself is set up from the surplus obtained by reducing the interest on national securities.

Citation:
Editors. "Stanhope enacts Walpole's Sinking Fund to reduce the national debt". The Literary Encyclopedia. First published 01 April 2011
[http://www.litencyc.com/php/stopics.php?rec=true&UID=17213, accessed 05 December 2016.]