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Our embarrassment for small change is renewed: many of the communes who had issued bills of five, ten, and fifteen sols, repayable in assignats, are become bankrupts, which circumstance has thrown such a discredit on all this kind of nominal money, that the bills of one town will not pass at another.
There are a dozen annuities to old servants and the like, and it's all I can do to scrape the money together to pay them. However, my" he pulled himself up and coughed in a consequential way "my financial agent has arranged for a loan, repayable upon the King's death. This liqueur isn't good for either of us, Charlie. We're both getting monstrous stout."
In proposals for future economic aid, I am stressing a greater use of repayable loans, through the Development Loan Fund, through funds generated by sale of surplus farm products, and through the Export-Import Bank. While some increase in Government funds will be required, it remains our objective to encourage shifting to the use of private capital sources as rapidly as possible.
The debt due as aforesaid by the South African Republic to Her Majesty's Government will bear interest at the rate of three and a half per cent, from the date of the ratification of this Convention, and shall be repayable by a payment for interest and Sinking Fund of six pounds and ninepence per £100 per annum, which will extinguish the debt in twenty-five years.
English bankers deal with an aggregate of small sums, all of which are repayable on short notice, or on demand. And the way the two employ their money is different also. A foreigner thinks 'an Exchange business'that is, the buying and selling bills on foreign countriesa main part of banking.
In proposals for future economic aid, I am stressing a greater use of repayable loans, through the Development Loan Fund, through funds generated by sale of surplus farm products, and through the Export-Import Bank. While some increase in Government funds will be required, it remains our objective to encourage shifting to the use of private capital sources as rapidly as possible.
Unfortunately, however, my scheme was too novel in its character to appeal to the official mind, especially as its working would have involved a loan repayable by instalments, the administration of which must have been entrusted to the Salvation Army or to other charitable Organizations.
Funds for this purpose, repayable by instalments extending over a number of years, shall be advanced free of interest by the Government." Lord Milner: "If we come to an agreement, it will be the English document which will be wired to England, on which His Majesty's Government will decide, and which will be signed." Commandant-General Botha: "Will not a Dutch translation be annexed?"
The debts due as aforesaid by the Transvaal State to Her Majesty's Government will bear interest at the rate of three and a half per cent., and any portion of such debt which may remain unpaid at the expiration of twelve months from the 8th August, 1881, shall be repayable by a payment for interest and sinking fund of six pounds and nine pence per cent, per annum, which will extinguish the debt in twenty-live years.
It was by way of being even more reasonable than that. The four hundred and fifty-six was repayable in monthly instalments of twenty quid, and I kept them up religiously until the sixth payment fell due. That was soon after Christmas, when one's always hard up, and for the first time I was a day or two late not more, mind you; yet what do you suppose happened?
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