In the modern system of war, nations the most wealthy are obliged to have recourse to large loans. A country so little opulent as ours must feel this… - Alexander Hamilton
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In the modern system of war, nations the most wealthy are obliged to have recourse to large loans. A country so little opulent as ours must feel this necessity in a much stronger degree. But who would lend to a government that prefaced its overtures for borrowing by an act which demonstrated that no reliance could be placed on the steadiness of its measures for paying? The loans it might be able to procure would be as limited in their extent as burdensome in their conditions. They would be made upon the same principles that usurers commonly lend to bankrupt and fraudulent debtors, with a sparing hand and at enormous premiums.
Alexander Hamilton (11 January 1755 or 1757 – 12 July 1804) was a Founding Father of the United States, chief staff aide to General George Washington, one of the most influential interpreters and promoters of the U.S. Constitution, the founder of the nation's financial system, the founder of the Federalist Party, the world's first voter-based political party, the Father of the United States Coast Guard, and the founder of The New York Post.
Biography information from
Wikiquote·
Portrait adapted from
Wikimedia Commons, John Trumbull (Public domain / CC0)
Also Known As
Pen Names:
Publius
Alternative Names:
Hamilton
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Alexander Hamilton, US Treasury secretary
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A. Ham
In countries where there is great private wealth, much may be effected by the voluntary contributions of patriotic individuals; but in a community situated like that of the United States, the public purse must supply the deficiency of private resource. In what can it be so useful, as in prompting and improving the efforts of industry?
A dangerous ambition more often lurks behind the specious mask of zeal for the rights of the people, than under the forbidding appearance of zeal for the firmness and efficiency of Government.
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