"Public debt" Quotes from Famous Books
 ... are not only constructed but designed by native genius. A standing army of about 50,000 men is maintained. Gas has been introduced in some places, and railroads and telegraphs are in operation; and, not to be behind their neighbors, a public debt and irredeemable currency (based upon the property of the nation, of course,) have been created. The currency is now at 22 per cent. discount as compared with gold, and further depreciation is apprehended. (It has since reached 50 per cent. discount.) It is modelled ...
— Round the World • Andrew Carnegie
... have been greatly extended. Notwithstanding these extraordinary expenses, there were, during the twenty-five years which followed 1862, fourteen years of surplus and eleven years of deficit, yielding a net surplus of Rs. x 4,000,000. In 1889 the public debt of India, exclusive of capital invested in railways, showed a reduction since the mutiny period of Rs. x 26,000,000. The rate at which India can borrow has been reduced from 4 or 5 per cent. to a little over 3 per cent. The revenue of India, exclusive of railways and municipal ...
— Gold, Sport, And Coffee Planting In Mysore • Robert H. Elliot
... success—now he had discovered that no victory gave him a permanent advantage—upon the dissolution of the American army, possibly an internal war. With depreciated bills in circulation amounting to one hundred and sixty millions of dollars, a public debt of nearly forty millions in foreign and domestic loans, the Congress had, in March, ordered a new emission of bills; the result had been a season of crazy speculation and the expiring gasp of public credit. In addition to an unpaid ...
— The Conqueror • Gertrude Franklin Atherton
... the figment called refunding, as if it were a concession and favor to a poor debtor. It is but a device to keep the burden on the public back. It is not a financial feat and triumph for the chancellor of the exchequer to refund a public debt. He but yields himself as a tool to the usurers to continue their loans. They resist the payment when due, but when an officer is found willing to extend them before they are due all trouble is avoided ...
— Usury - A Scriptural, Ethical and Economic View • Calvin Elliott
... for every violation, and could be sued by each creditor. They could only deal in gold and silver exchange, and not in other country securities which could not be realized upon at once. The Bank could purchase no public debt nor exceed 6 per cent. interest on its discounts and loans. It could lend no more than $500,000, to the United States, $50,000, to each State, and nothing to foreigners. It could give no bill of exchange greater than $5,000; bank notes less than ...
— A Brief History of Panics • Clement Juglar
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