pamphlet
DEFICIT FINANCING
THE PRINTING OF NOTES
1 pages
Summary
This illustrated page presents deficit financing as the government’s fallback when ordinary revenue sources are insufficient. It identifies profits from public-sector and government undertakings—including HMT, the railways, post and telephones—and foreign aid described as the “savings of friendly countries” as sources available to meet government expenses. The accompanying cartoons depict these sources as feeding government finances.
Key points
- The page is headed “DEFICIT FINANCING” with the subtitle “THE PRINTING OF NOTES.”
- Public-sector profits and government undertakings are presented as sources of government finance.
- Examples named include HMT, the railways, post and telephones.
- Foreign aid is characterized as the savings of friendly countries.
- When these sources fall short of government requirements, the government resorts to printing notes.
- The argument is conveyed through cartoons showing public-sector revenue, foreign aid, and a note-printing machine.
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