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Sir, there are three principles, greater than all others, on which, in my opinion, all good finance should be based. The first of them is that there should always be a certainty that whatever the charge may be it can be paid. That, I believe, is of vital importance. The second is that, in times of peace and prosperity, the people of the country should reduce their Debt; and the third point is that they should reduce their Expenditure.

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