Before revision:  Second, that non-cancellation of loan principal upon payment cures an old problem of maintenance of positive equity in the private sector. And third , that crediting this money to local government, or to at-risk ventures that create new utility value  creates an additional virtuous monetary circuit that ties finances of government directly to commercial activity.
After revision:  Second, that non-cancellation of loan principal upon payment cures an old problem of maintenance of positive equity in the non-governmental sector. Third , that crediting this money to local government, or to at-risk ventures that create new utility value creates an additional virtuous monetary circuit that ties finances of government directly to commercial activity.