Excerpt from The National Debt in Its True Colours: With Plans for Its Extinction by Honest Means
Government itself has in some measure assisted the delusion, which prevails on this subject; for even the term, Com missmners for the Redemption of the Na tional Debt, implies, t... hat the nation is in debt to the amount of the nominal sum, Which goes under that name. They are in fact commissioners for the purchase of annuities granted by the nation to certain individuals or their representatives.' This distinction is of more importance than per sons are at first apt to imagine.
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