text_original: Commercial depression, a declining revenue, and war expenditure (in South Africa) combined to produce a large deficit ; but there was to be no new taxation : equilibrium was restored by a raid on the new sinking fund — the favourite child of Noi thcote's finance.
text_transcription: COMMERCIAL DEPRESSION A DECLINING REVENUE AND WAR EXPENDITURE IN SOUTH AFRICA COMBINED TO PRODUCE A LARGE DEFICIT BUT THERE WAS TO BE NO NEW TAXATION EQUILIBRIUM WAS RESTORED BY A RAID ON THE NEW SINKING FUND THE FAVORITE CHILD OF NORTHCOT'S FINANCE
phonemes: kəmˈɜːʃəl dᵻpɹˈɛʃən, ɐ dᵻklˈaɪnɪŋ ɹˈɛvənˌuː, ænd wˈɔːɹ ɛkspˈɛndɪtʃɚ (ɪn sˈaʊθ ˈæfɹɪkə) kəmbˈaɪnd tə pɹədˈuːs ɐ lˈɑːɹdʒ dˈɛfɪsˌɪt ; bˌʌt ðɛɹwˌʌz təbi nˈoʊ nˈuː tæksˈeɪʃən : ˌiːkwɪlˈɪbɹiəm wʌz ɹᵻstˈɔːɹd baɪ ɐ ɹˈeɪd ɔnðə nˈuː sˈɪŋkɪŋ fˈʌnd — ðə fˈeɪvɹɪt tʃˈaɪld ʌv nˈɔɪ tˌiːˈeɪtʃkˈoʊtz fˈaɪnæns.