text_original: Down to this time extinction of debt depended entirely upon the amount of unex  pended balances in the hands of the spending Departments. These balances went automatically to the reduction of debt. With this " Old Sinking Fund " Northcote did not interfere, but he contrived The New in addition a new one of his own.
text_transcription: DOWN TO THIS TIME EXTINCTION OF DEBT DEPENDED ENTIRELY UPON THE AMOUNT OF UNEXPENDED BALANCES IN THE HANDS OF THE SPENDING DEPARTMENTS THESE BALANCES WENT AUTOMATICALLY TO THE REDUCTION OF DEBT WITH THIS OLD SINKING FUND NORTHCOTT DID NOT INTERFERE BUT HE CONTRIVED IN ADDITION A NEW ONE OF HIS OWN
phonemes: dˌaʊn tə ðɪs tˈaɪm ɛkstˈɪŋkʃən ʌv dˈɛt dᵻpˈɛndᵻd ɛntˈaɪɚli əpˌɑːn ðɪ ɐmˈaʊnt ʌv ˌʌnˈɛks pˈɛndᵻd bˈælənsᵻz ɪnðə hˈændz ʌvðə spˈɛndɪŋ dᵻpˈɑːɹtmənts. ðiːz bˈælənsᵻz wɛnt ˌɔːɾəmˈæɾɪkli tə ðə ɹᵻdˈʌkʃən ʌv dˈɛt. wɪð ðˈɪs " ˈoʊld sˈɪŋkɪŋ fˈʌnd " nˈɔːɹθkoʊt dɪdnˌɑːt ˌɪntəfˈɪɹ, bˌʌt hiː kəntɹˈaɪvd ðə nˈuː ɪn ɐdˈɪʃən ɐ nˈuː wˈʌn ʌv hɪz ˈoʊn.