E. Cobham Brewer 18101897. Dictionary of Phrase and Fable. 1898.
The Great Commoner.
1. Sir John Barnard, who, in 1737, proposed to reduce the interest of the national debt from 4 per cent. to 3 per cent., any creditor being at liberty to receive his principal in full if he preferred it. Mr. Goschen (188990) reduced the 3 per cents. to 2 1/2.