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A Brief Account Of The Finances And Paper Money Of The Revolutionary War
FROM THE WRITER'S PREFACE.
I DO not pretend, in this little volume, to any new discoveries touching the financial history of the Revolutionary War, but only to having brought together, in one place, those facts which are of prime interest and importance. They are written down with almost statistical brevity, but he who thoughtfully reads them will see how painfully our forefathers struggled and suffered to bring us "out of the land of Egypt, out of the house of bondage."
Ours is the only great nation which, in the Nineteenth Century, has paid a public debt contracted for war purposes, and it is not the least of the proud achievements of the American people. I have brought my little book to an abrupt close, because I wished to say here what might perhaps have been more appropriately said 'in a closing paragraph. It is this: That the most glorious celebration we could have made of our Centennial Anniversary, would have been the simple announcement that, for a second time, in the first century of our national existence, we had paid off a public debt. To do this would have required great exertions and great sacrifices, but such exertions and sacrifices were not beyond the powers of the American people.
I will be allowed to add that the surest and safest way to a resumption of specie payments is through the extinction of the public debt. Its payment ought to be the paramount object of every administration, and is a policy commended alike by National Duty and National Honour.
-J. W. SCHUCKERS
New York, October 1st, 1874
God's Plan For Your Finances
Managing Public Finances In A Small Developing Economy
The sound management of public finances is, in Williams' view, the most important factor in attaining the twin objectives of economic growth and improvement in the standard of living in small open developing economies. While looking at the challenges of public finance management in small states, with a focus on Barbados, this book suggests strategies of fiscal and microeconomic management for small economies that will permit them to ensure macroeconomic stability while promoting economic growth and development. In discussing the philosophy of public finance, it examines small size and openness, using both traditional criteria and modern perspectives of liberalized systems. It deals with the challenge of avoiding overly expansionary budgets and the need for counter cyclical policies in relation to macroeconomic objectives.
This book also discusses state involvement in commercial types of enterprise and the implications for efficiency and economic growth. The Keynesian approach to fiscal spending is compared with the structuralist approach, which takes into account initial conditions and inflexibilities facing small developing economies. The government's role in financing accelerated economic development, its social responsibility, and the balancing need for fiscal discipline are also considered. The public finance performance of governments is seen as facing important challenges to its capacity to champion economic development given the increasing global perception of a mostly regulatory and stabilizing role of government.