Full resolution (JPEG) - On this page / på denna sida - X. The Exchequer and Civic Duties
<< prev. page << föreg. sida << >> nästa sida >> next page >>
Below is the raw OCR text
from the above scanned image.
Do you see an error? Proofread the page now!
Här nedan syns maskintolkade texten från faksimilbilden ovan.
Ser du något fel? Korrekturläs sidan nu!
This page has been proofread at least once.
(diff)
(history)
Denna sida har korrekturlästs minst en gång.
(skillnad)
(historik)
the General State Fund, of which the government
alone disposes, has always been made with such great
caution that during the last few decades the actual
revenues have regularly and considerably exceeded the
budget estimate. According to a regular practice, the
government, as it begins to foresee the real surplus of
the year, decides the extraordinary expenses which are
needed, as, for instance, public buildings, work on the
canals, &c., but considerable sums have also been put
aside as separate funds for different purposes. The
most important is the General State Reserve, which in
1898 amounted to 7¼ million marks, placed in easily
saleable foreign bonds. It is destined, in case of war
or other misfortunes, to make up possible deficiencies
in the revenue. The largest fund, however, is the
Loan Fund, amounting to over 16½ millions; it grants
loans to be repaid in rates to the Communes, also to
shipowners and manufacturers. Among the larger
funds are also the “Assistance Fund“ of 3½ millions, a
special reserve fund to help poor Communes in years
of famine. The oldest is the Military Fund of about
10 millions, the interest of which is used for
military pensions. Besides these, there are a number of
minor funds, such as the Fund for Loans to Dairies,
a fund for taking care of orphans and waifs,
another to pension teachers in elementary schools,
&c. The total amount of these “capitalised funds”
was in 1898 about 45 million marks. They are
managed by the Treasury Office, which, under the
control of the Finance Division of the Senate, places
the funds in government bonds, Finnish or foreign,
or deposits them in the banks, where, according to
the rules for such special funds, the capital may
be lent out. When the question arose of retaining
these funds, the elder Rothschild was quoted as saying
<< prev. page << föreg. sida << >> nästa sida >> next page >>
