The power of creating new funds upon new objects of taxation, by its own authority, would enable the national government to borrow as far as its nece… - Alexander Hamilton
" "The power of creating new funds upon new objects of taxation, by its own authority, would enable the national government to borrow as far as its necessities might require. Foreigners, as well as the citizens of America, could then reasonably repose confidence in its engagements; but to depend upon a government that must itself depend upon thirteen other governments for the means of fulfilling its contracts, when once its situation is clearly understood, would require a degree of credulity not often to be met with in the pecuniary transactions of mankind, and little reconcilable with the usual sharp-sightedness of avarice.
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About Alexander Hamilton
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.
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Also Known As
Alternative Names:
Publius
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Hamilton
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Alexander Hamilton, US Treasury secretary
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A. Ham
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Additional quotes by Alexander Hamilton
The excellence of the trial by jury in civil cases appears to depend on circumstances foreign to the preservation of liberty. The strongest argument in its favor is, that it is a security against corruption. As there is always more time and better opportunity to tamper with a standing body of magistrates than with a jury summoned for the occasion, there is room to suppose that a corrupt influence would more easily find its way to the former than to the latter.
If, to obviate this consequence, it should be resolved to extend the prohibition to the raising of armies in time of peace, the United States would then exhibit the most extraordinary spectacle which the world has yet seen, that of a nation incapacitated by its Constitution to prepare for defense, before it was actually invaded.
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