SANCTITY. OF CONTRACTS.
I am not, however, concerned in this place with the general question of -National Expenditure, though in passing I must once more place on record the declaration that there will be no real return of industrial prosperity until there has been economy in the National Expenditure and a lightening of the burden of the taxpayer. What I am anxious to demonstrate is the impracticability, unsoundness and unfairness of this point which crops up from time to time with regard to the sanctity of contract of loans raised during the War, and I have employed the imaginary illustration given'above because, as it seems to me, the principle of a bank declining to give its depositor the full amount deposited a few years hence is on a par with the position of a Government who would desire to play fast and loose with the holders of Government securities.
Previous page
