WHILE I appreciate the fact that letters to the Hereford Times should be about local issues, I consider that the present financial crisis transcends all other issues, be they local, national or even international.

The long and complicated history which has brought about today’s state of affairs has been fully explained by all branches of the news-media during the past week or so, and I do not propose to elaborate any further as to its causes.

However, I remembered a couple of quotations which are very pertinent and to which I would like to draw readers’ attention, although no doubt many readers will already be aware of them.

Firstly from Charles Dickens: “Annual income £20, annual expenditure £19-19-6d. Result, happiness. Annual income £20, annual expenditure £20-0-6d. Result, misery”.

Secondly, from the Bible, Book of Ecclesiastes, Chapter 4, Verse 6: “Better is a handful with quietness, than both the hands full with travail and vexation of spirit”.

Although our ancestors did not have space travel, instant communications or cars which accelerate from 0-60mph in eight seconds they obviously had more “gumption” than we have today as regards basic budgeting.

ALAN R WILLIS, Oatfield Close, Three Elms Road, Hereford.