Riches and Poverty

Riches and Poverty

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...the margin is largely wasted in luxury at home or even sent out of the country to establish water works in Argentina, supply the sinews of war to Japan, or employ Chinese Coolies in South African mines. The time has come when the nation must consider the nature of its resources, and study its own development. We must see to it that the demand for houses, the primary demand of a civilized man, is answered not by the speculative builder, but by the nation itself. The proposal here made is a simple one. It is that National Housing Loans should be raised and the proceeds placed in the hands of a permanent Housing Board or Commission which should be empowered to guide, assist and if necessary stimulate local authorities to rehouse their poor. The Housing Board should have power to lend money to local authorities, for the execution of approved schemes, for a period of 100 years at a nominal rate of interest, say i or 2 per cent., the loss to be made up out of the proceeds of Imperial taxation. To deal effectively with the question, a yearly loan of at least 20,000,000 would be needed for some years. Borrowing this at 3 per cent. and lending it out at 2 per cent. would create a charge of only 200,000 for each 20,000,000. If then we authorized an annual issue of 20,000,000 for ten years--in all 200,000,000, the total annual charge through loss of interest would be but 2,000,000. Such a loan, about twothirds of the cost of the late South African war, would not only rehouse one-tenth of our people, but place local authorities in possession of assets yielding a fine revenue,1 which, on the Bournville plan, could be used for the progressive extension of housing schemes. With access to capital for housing at 2 more

Product details

  • Paperback | 120 pages
  • 189 x 246 x 6mm | 227g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236562348
  • 9781236562340