Industry has over-borrowed; everybody has over-borrowed.
The greatest problem for farmers, particularly those who have entered farming during the last 20 years, has been over-borrowing.
There was a general feeling of confidence, a tendency to over-borrow money and to spend huge sums on railways and other public works.
One feature of debt intolerant countries that are serial defaulters is their tendency to over-borrow.
If we over-borrow or over-tax, we shall create a situation which, far from diminishing unemployment, must tend materially to increase it.
