Browsing JSSISI: Journal of The Statistical and Social Inquiry Society of Ireland, 1847- by Subject "World War One,"
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The economic interests involved in the present war
(Statistical and Social Inquiry Society of Ireland, 1915)Adam Smith, in his final chapter, treats of Public Debts; he points out why the sudden and great expenditure on warfare is always met by borrowing instead of by increased taxation: "By means of borrowing," he says, ...