It wrecks economies and never, ever works.
Baron Sidney Sonnino, minister of finance in the Crispi cabinet, found a prospective deficit of 7,080,000, and in spite of economies was obliged to face an actual deficit of more than 6,ooo,000.
The growth of railways has been accompanied by a world-wide tendency toward the consolidation of small independent ventures into large groups of lines able to aid one another in the exchange of traffic and to effect economies in administration and in tl-_e purchase of supplies.
By abolishing the illusory pensions fund, by applying and amending the Bank Laws, effecting economies, and increasing taxation upon corn, incomes from consolidated stock, salt and matches, he averted national bankruptcy, and placed Italian finance upon a sounder basis than at any time since the fall of the Right.
The task was no pleasant one, for he had to agree to economies where he considered that more outlay was needed, and he had to disappoint the hopes of the many officers who were left unemployed by the peace.
The largest of the studs is that at Mezohegyes (founded 1785) in the county of Csanad, the most extensive and remarkable of those " economies," model farms on a gigantic scale, which the government has established on its domains.'
Owing to its wide stretches of pasture-land Hungary is admirably suited for cattle-raising, and in the government " economies " the same care has been bestowed on improving the breed of horned beasts as in the case of horses.
The annual reports, of which he was the chief author, became controversial pamphlets; he published bold replies to criticisms upon the work of the Commission; he explained its purposes to newspaper correspondents; when Congress refused to appropriate the amount which he believed essential for the work, he made the necessary economies by abandoning examinations of candidates for the Civil Service in those districts whose representatives in Congress had voted to reduce the appropriation, thus very shrewdly bringing their adverse vote into disfavour among their own constituents; and during the six years of his commissionership more than twenty thousand positions for government employes were taken out of the realm of merely political appointment and added to the classified service to be obtained and retained for merit only.
But in addition, when nations trade, the underlying economies themselves grow ever more intertwined.
After the withdrawal of the restriction against the companies erecting trunk wires it became evident that the development of the telephone services throughout the country would be facilitated by complete intercommunication and uniformity of systems, and that economies could be effected by concentration of management.
By economies and new taxes Sella had reduced the deficit to less than 2,000,000 in 1871, but for 1872 he found himself confronted with a total expenditure of 8,ooo,ooo in excess of revenue.
Incidental charges are lower than they were in 1870; handling charges, brokers' commissions and insurance premiums have been in many instances reduced, but all these economies when combined only amount to about 2S.
According to him, whatever inferences we make, certain or uncertain, are mere economies of thought, adapting ideas to sensations, and filling out the gaps of experience by ideas; whatever we infer, whether bodies, or molecules, or atoms, or space of more than three dimensions, are all without distinction equally provisional conceptions, things of thought; and " bodies or things are compendious mental symbols for groups of sensations - symbols which do not exist outside thought."
From this alumina the double chloride was prepared in essentially the same manner as practised at Salindres, but sundry economies accrued in the process, owing to the larger scale of working and to the adoption of W.
In the Bessemer process, and indeed in most high-temperature processes, to operate on a large scale has, in addition to the usual economies which it offers in other industries, a special one, arising from the fact that from a large hot furnace or hot mass in general a very much smaller proportion of its heat dissipates through radiation and like causes than from a smaller body, just as a thin red-hot wire cools in the air much faster than a thick bar equally hot.
The employment of the economies resulting from the conversion was to be the subject of future agreement with the powers.
The fund formed by theaccumulation of the economies resulting from the conversion of the Privileged, Daira and Domains loan was known as the Conversion Economies Fund.
It may be added that besides the General Reserve Fund and the Conversion Economies Fund, there existed another fund called the Special Reserve Fund.
Then there was the glaring anomaly of allowing the Conversion Economies to accumulate at compound interest in the hands of the commissioners of the Caisse, instead of using the money for remunerative purposes.
The Conversion Economies Fund was also placed at the free disposal of the Egyptian government- The General Reserve Fund ceased to exist, but for the better security of the bondholders a reserve fund of Li,8oo,ooo was constituted and left in the hands of the Caisse to be used in the highly improbable event of the land tax being insufficient to meet the debt charges.
At the same time a new General Reserve Fund was created, made up chiefly of the surpluses of the old General Reserve, Special Reserve, and Conversion Economies funds.
The loss of Norway necessitated considerable reductions of expenditure, but the economies actually practised fell far short of the requirements of y P q after 1815.
He effected some reforms and economies during his tenure of this office, but, unable to carry out all his wishes, became chief secretary for Ireland in March 1833.
Early in 1891 he succeeded Crispi as premier and minister of foreign affairs by forming a coalition cabinet with a part of the Left under Nicotera; his administration proved vacillating, but it initiated the economies by which Italian finances were put on a sound basis and also renewed the Triple Alliance.
Funds for these reforms were to a great extent provided out of the sequestrated property of the Jesuits; Pombal also effected great economies in internal administration.
He had a taste for puerile amusements, a mania for useless little domestic economies in a court where millions vanished like smoke, and a natural idleness which achieved as its masterpiece the keeping a diary from 1766 to 1792 of a life so tragic, which was yet but a foolish chronicle of trifles.
Vain and imaginative, Th his reputation was enormously enhanced by his Economies royales; he was no innovator, and being a true representative of the nation at that period, like it he was but lukewarm towards reform, accepting it always against the grain.
Like one of those physical forces which tend to reduce everything to a dead level, he battered down alike characters and fortresses; and in his endeavours to abolish faction, he killed that public spirit which, formed in the 16th century, had already produced the Republique of Bodin, de Thous History of his Times, La Boeties Contre Un, the Satire Mnippe, and Sullys Economies royales.
Sully in his Economies royales attributes to his master the "great design" of constituting, after having defeated Austria, a vast European confederation of fifteen states - a "Christian Republic" - directed by a general council of sixty deputies reappointed every three years.
Had still further economies been practised (in the Struma valley for instance) this handicap might have disappeared.
Bavaria's power of self-defence especially was weakened by his economies and by his lack of interest in the military aspect of things.
They invariably lead to shrinking economies and remove incentive for the most productive people to work.