The substitution of stock for other forms of local indebtedness

Abstract

The substitution of debenture stock or consolidated stock for other forms of local indebtedness has already occupied the attention of this Society. I find that in July, 1871, Doctor Neilson Hancock contributed to its transactions a paper detailing the operation of the Acts of 1869 and 1870, under which the London Metropolitan Board of Works was empowered to issue consolidated stock for the other sureties then existing and for all future borrowing; and at the same time Dr. Hancock suggested a plan of applying such improvements in the management of town finance to the debts and borrowing powers of the Town Council of Dublin.