These are what are known now as Exchequer bills, and form a floating debt due by Government.
Thus the assignats may be regarded as a floating debt currency.
Yet the Government entered on its second year without a floating debt and with its credit unimpaired.
The next issue of Notes seems to have been to pay off the floating debt.
There is no floating debt, and the bonded debt is limited by the State Constitution to seven per cent.
The floating debt of Treasury notes and temporary loans will soon be entirely discharged.
The extinction of the whole of the floating debt could thus be brought about without the necessity of new loans.
As it was, he thought the worst was over, for—strange and agreeable phenomenon—the floating debt was sinking.
Harley wishing to provide for the discharge of ten millions of the floating debt, guaranteed six per cent.
Of this amount, two and a half billions are floating debt and five billions, Victory Notes and War.