Funds

“ It is important that the funds we seek to generate shall be utilized with extreme prudence. I shall therefore define as clearly as possible the major areas in which we must sustain or accelerate our development efforts, and mark out the funds that shall be utilized to finance them exclusively. ”

“ Now with this theory in view, our company gets to work and canvasses the country and it gathers together thousands of little, useless, insignificant, unproductive funds like yours and mine and joins them together into one vast, giant aggregate which we call a trust fund. ”

“ The demand for those who live by wages, it is evident, cannot increase but in proportion to the increase of the funds which are destined to the payment of wages. These funds are of two kinds, first, the revenue which is over and above what is necessary for the maintenance; and, secondly, the stock which is over and above what is necessary for the employment of their masters. ”

“ With the third method a permanent increase is secured in the capital funds available for use in the business. Financial policy, governed by the needs of the business and its markets, will always dictate the method to be used for extinguishing or contracting a debt. ”

“ Moreover, a large portion of the funds which this Act will generate will be channeled to selected sound investments to promote the general well-being, thus making the people investors and participants in the country's economic destiny. ”

“ The disposable capital deposited in banks, together with the funds belonging to those who, either from necessity or preference, live upon the interest of their property, constitute the general loan fund of the country ”

“ When, in the early times of public credit, the repayment of the capital was the chief object of the lender, a much more extensive fund was necessary than at present, when no more is required than the payment of the interest. As such funds never can be formed but from taxes, or general contributions from the people, the greater they are, the larger must the contribution be. ”

“ The capital of those who live on the interest of their own fortunes has generally sought and found some fixed investment, such as the public funds, mortgages, or the bonds of public companies, which investment, except under peculiar temptations or necessities, is not changed. ”

“ In order to obtain the means for granting industrial credit and to dispose of the enormous amounts of newly created industrial securities, it was and is necessary to attract in as large a measure as possible the surplus funds of the community available for capital investments. ”

“ An Essay upon Loans; or an Argument, proving that substantial Funds, settled by Parliament, with the Encouragement of Interests, and the Advances of prompt Payment usually allowed, will bring in Loans of Money to the Exchequer, in spite of all the Conspiracies of Parties to the contrary; while a just, honourable, and punctual Performance on the part of the Government, supports the Credit of the Nation. By the Author of the 'Essay on Credit.' London. ”

“ To estimate, therefore, the total value, in any nation, of what is the object of taxation, we must go another way to work. The first article must be the annual income of all funds. By funds, here, I understand the capital wealth already made, in opposition to the produce of industry, which may be considered as the materials of which such funds are composed. The fund therefore is the accumulation of savings, which, not having been spent by the industrious, form 587a capital of a nature to produce an income, either from land, or from any other valuable thing. ”

“ The reserve fund was created to meet the losses of bad years and equalize dividends when profits were small, the provident fund to take care of the sick, the disabled and the families of deceased laborers. After five years the manner of division was changed so as to yield 2 per cent, dividends on wages for every 1 per cent, on capital, and in place of a fixed per cent, for the special funds whatever was necessary for these purposes was to be paid out of gross profits. ”

“ To the funds accumulated from initiation fees, membership dues and the sale of the associations' credit have been added, in constantly increasing amounts in recent years, the savings of the members themselves. Many societies have such an amount of funds intrusted to them in this way that they are not only entirely freed from the necessity of borrowing, but are obliged to seek opportunities for investment outside their own group. ”

“ They gather loanable funds, reduce hoarding, make money move more rapidly, and create a central market between borrowers and lenders for the sale of credit. While not creating more physical wealth directly, they add to the efficiency of wealth ”

“ Thus the wealth and business of every region from which these surplus funds proceed must be to some extent injured, while that of the place where the funds are concentrated and are employed in banking are proportionably extended. ”

“ It is too well known that our debts are great, and our taxes numerous; that our funds, appropriated to particular purposes, are at some times deficient, and at others redundant; and that therefore the money arising from the same imposts, is differently applied in different years. To assert that this fluctuation produces intricacy, may be imagined a censure of those to whose care our accounts are committed ”

“ You will very soon see the plan of a Bank published, and subscriptions opened for its establishment, having already met with the approbation of Congress. It only remains for individuals to do their part, and a foundation will be laid for the anticipation of taxes and funds, by a paper credit that cannot depreciate. ”

“ It is clear that we must stabilize the government's finances consistent with our ability to tap legitimate sources of revenue and the judicious outlay of funds to meet current and future needs, with open accountability for our obligations at home and abroad. ”

“ It has also frequently happened that corporations have been aided to a very large extent by public funds, by the voting of aid bonds, by the donation of large tracts of land, by payment for certain service at such rates as would largely relieve the company from loss in operation, by the remission of taxes, or by the direct donation of funds. ”

“ Many reasons might be urged in behalf of benevolence to institutions of learning. Funds thus given are as a rule administered with extraordinary financial skill. Their permanence is greater than the permanence of funds in trust companies and savings banks. ”

“ The entire case may be presented by the statement that the day of sensible and sound financial methods will not dawn upon us until our Government abandons the banking business and the accumulation of funds and confines its monetary operations to the receipt of the money contributed by the people for its support and to the expenditure of such money for the people's benefit. ”

“ Most of the bonds of municipal bodies and private corporations in this country are issued in order to raise funds for works of large extent and cost, and their payment is, therefore, made at distant periods, not unfrequently beyond a quarter of a century. ”

“ Permanent funds to be provided and appropriated, in addition to the sum already appropriated to the sinking fund.Sec. 6. And be it further enacted, That in addition to the annual sum of eight millions of dollars, heretofore appropriated to the sinking fund, adqueate and permanent funds shall during the present session of Congress, be provided and appropriated, for the payment of the interest and reimbursement of the principal of said stock created by this act. ”

“ Since the grand federal convention has opened the budget and published their scheme of government, all goes well here. Continental loan office certificates and all such securities have risen twenty-five per cent. Even the old emission which has long lain dormant begins to show its head. Last week many thousand pounds’ worth of it were bought up. Moneyed men have their agents employed to buy up all the continental securities they can—foreseeing the rapid rise of our funds. Such men as have the cash to spare will certainly make large fortunes.... ”

“ Savings-banks, penny banks, building and loan associations, penny-provident funds, and other convenient means of investing small sums, encourage men to reduce their tobacco bills, their candy bills, their saloon bills, and to lay aside for the winter's coal, for the children's education, for houses, for business investments, or for old age. ”

“ Running through the different national systems there are some common elements the result not of inheritance merely but still more of necessity, or at the lowest of similarity in environment. Over and above the details of financial development there is a thread of connexion which requires treatment under Finance taken as a whole. As the great aim of this side of public activity is to secure funds for the maintenance of the state’s life and working, the administration which operates for this end is the true nucleus of all national finance. ”

“ Such business cannot be included in the commercial affairs of the country, economically speaking, because they are essentially trust transactions, and the funds, generally, belong to the investment class. ”

“ The funds which they have appropriated to this purpose, have been chiefly new lands, which are constantly rising in value, and which, in many instances, promise, in a future day, to swell to a very respectable amount. ”

“ We are not called upon to travel into the fields of speculation for the purpose of finding funds to support this plan; there are funds which present themselves to view. We only want a grant to secure the benefactions in prospect. ”

“ Provided further, That the Chief Financial Officer of the District of Columbia shall take such steps as are necessary to assure that the District of Columbia meets these requirements, including the apportioning by the Chief Financial Officer of the appropriations and funds made available to the District during fiscal year 2019, except that the Chief Financial Officer may not reprogram for operating expenses any funds derived from bonds, notes, or other obligations issued for capital projects. ”

“ The application of an accumulated fund by the Government to the payment of its running expenses is a duty. An individual living beyond his income and embarrassing himself with debt or drawing upon his accumulated fund of principal is either unfortunate or improvident. ”

“ It is coming to be a recognized principle that every business enterprise of [9] whatever kind or size should establish a reserve fund. It is felt that the possession of a reserve fund puts the business upon a secure foundation, adds to its financial strength and reputation, and greatly increases its credit and borrowing capacity. ”

“ The funding system is not money; neither is it, properly speaking, credit. It, in effect, creates upon paper the sum which it appears to borrow, and lays on a tax to keep the imaginary capital alive by the payment of interest and sends the annuity to market, to be sold for paper already in circulation. ”

“ To the credit of the account he pays in such sums as he may not have occasion to use, and interest is charged or credited upon the daily balance, as the case may be. From the facility which these Cash Credits give to all the small transactions of the country, and from the opportunities which they afford to persons who begin business with little or no capital but their character to employ profitably the minutest products of their industry, it cannot be doubted that the most important advantages are derived to the whole community. ”

“ If the whole or any part of that income be saved, so much new capital is generated,—the infallible operation of which is to lower the value of money, and consequently to conduce towards the improvement of public credit. ”

“ I explained that a sinking fund is nothing but an obligation or promise, on the part of the government or an individual, to pay a certain amount annually of the principal of the debt in addition to the interest. ”

“ Not only two million francs, but indirectly I shall make three or four millions more. Besides, with the General's influence, I shall have an entrée to the Elysée, and be able to secure the Government contracts through the Minister of Finance. Of late several of my schemes have misfired, and my credit on the Bourse is nearly gone, but the moment I can secure this concession directly from the Government, I can obtain credit for as many millions as I require, and then my position is assured for ever. You do want to help your old father, don't you? ”

“ National Fund In connection with the institution of the National Fund and the budgetary system set forth in the minutes of the National Spiritual Assembly, I feel urged to remind you of the necessity of ever bearing in mind the cardinal principle that all contributions to the Fund are to be purely and strictly voluntary in character. It should be made clear and evident to every one that any form of compulsion, however slight and indirect, strikes at the very root of the principle underlying the formation of the Fund ever since its inception. ”

“ When banks lend on collateral security of corporation stocks to the buyers of those stocks, they are, in effect, financing the corporation itself. [483] Industries differ widely in the extent to which they depend on the money market for their finances. The difference depends often less on the nature of the industry than on the type of the industrial organization. An individual farmer cannot get the bulk of his credit that way! ”

“ It is through the expenditure of public money that the State works in all of its activities, and it is the first duty of the science of finance to determine their nature and scope. Finance accepts public expenditures as a fact. ”