Stanhope enacts Walpole's Sinking Fund to reduce the national debt

(33 words)
  • Editors

Historical Context Note

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.
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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 20 August 2014.]