"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
... references are found. In West Virginia[496] the legislature "may make suitable provision for the blind, mute and insane whenever it may be practicable," while in North Carolina[497] the matter seems also optional. In the Minnesota constitution[498] there is an amendment by which the public debt is increased for the purpose of establishing certain public institutions, including the school for the deaf. In the South Dakota constitution[499] the several charitable and penal institutions are enumerated, among which is the school for the deaf, while direction is also given as to the sale ...
— The Deaf - Their Position in Society and the Provision for Their - Education in the United States • Harry Best
... relinquished his claim, they might be erected into an independent State under the rule of an Austrian archduke. A written reply (March 14) informed them that the question of union with Holland was settled, but assurances were given that in matters of religion, representation, commerce and the public debt their interests would be carefully guarded. Meanwhile General Baron Vincent, a Belgian in the Austrian service, was ...
— History of Holland • George Edmundson
... English level, that of war-taxation. The Equivalent was to purchase the Scottish shares in the East India Company, with interest at five per cent up to May 1, 1707. That grievance of the shareholders was thus healed, what public debt Scotland owed was to be paid (the Equivalent was about 400,000 pounds), and any part of the money unspent was to be given to ...
— A Short History of Scotland • Andrew Lang
... member of this honorable body. As a citizen, seeking the welfare of this community, as a wife and mother desiring the safety of my children, which of you can claim a deeper interest than I in questions of markets, taxes, finance, banks, railroads, highways, the public debt and interest thereon, boards of health, sanitary and police regulations, station-houses (wherein I find many a wreck of womanhood, ruined in her youth and beauty), schools, asylums, and charities? Why deny me a voice in any or all of these? Do you doubt that I would use the ...
— History of Woman Suffrage, Volume III (of III) • Various
... practice to retire, not increase our outstanding obligations, and this policy must again be resumed and vigorously enforced. Our revenues should always be large enough to meet with ease and promptness not only our current needs and the principal and interest of the public debt, but to make proper and liberal provision for that most deserving body of public creditors, the soldiers and sailors and the widows and orphans who are the pensioners of the ...
— Messages and Papers of William McKinley V.2. • William McKinley
... agencies of the later Middle Ages, although it is difficult to say whether their methods were examples of or exceptions to the doctrines forbidding usury. These institutions were formed on the model of the montes profani, the system of public debt resorted to by many Italian States. Starting in the middle of the twelfth century,[1] the Italian States had recourse to forced loans in order to raise reserves for extraordinary necessities, and, in order to prevent the growth of disaffection among the citizens, ...
— An Essay on Mediaeval Economic Teaching • George O'Brien
... their cause? They press the foremost to accuse His selfish jobs and paltry views. Ah, me! short-sighted were the fools, And false, aye false, the hireling tools. Was it such sycophants to get Corruption swelled the public debt? This motto would not shine amiss— Write, "Point ...
— Fables of John Gay - (Somewhat Altered) • John Gay
... of Congress, it was avowed on all sides that the public debt, as to all practical purposes, was in fact paid, the small surplus remaining being nearly covered by the money in the Treasury and the bonds for duties which had already accrued; but with the arrival of this event our last hope was doomed to be disappointed. After ...
— Remarks of Mr. Calhoun of South Carolina on the bill to prevent the interference of certain federal officers in elections: delivered in the Senate of the United States February 22, 1839 • John C. Calhoun
... enchantment; our exports and imports increased and increasing; our tonnage, foreign and coastwise, swelled and fully occupied; the rivers of our interior animated by the perpetual thunder and lightning of countless steamboats; the currency sound and abundant; the public debt of two wars nearly redeemed; and, to crown all, the public treasury overflowing, embarrassing Congress, not to find subjects of taxation, but to select the objects which shall be liberated from the impost. If the term of seven years were to be selected, of the greatest prosperity ...
— Cotton is King and The Pro-Slavery Arguments • Various
... and I feel sure that the additional burdens which the recent war with Russia has for the time entailed will be cheerfully borne. I am confident, moreover, that under the wise guidance of the Emperor and her present statesmen Japan will make successful efforts to liquidate her public debt, to relieve herself of her foreign liabilities, and generally to proceed untrammelled and unshackled on that path of progress and material development that, I believe, lies before her, and which will, I am sure, at no far-distant date place her securely and permanently ...
— The Empire of the East • H. B. Montgomery
... preceding, the home State of Lincoln and Douglas had decreased its public debt $3,104,374. She had become the fourth State of the Union in population and wealth, having during the decade then closing outstripped Virginia, Massachusetts, North Carolina, Georgia, Tennessee, and Indiana. In production of wheat and corn she now surpassed all other States and occupied ...
— Fifty Years of Public Service • Shelby M. Cullom
... being exact and punctual fulfillment of contract. "States, like individuals, who observe their engagements, are respected and trusted; while the reverse is the fate of those who pursue an opposite conduct." To discharge the principal of the public debt was of course impracticable; nor was it desirable, as the creditors would be well pleased to leave it at interest. Incidentally the funding of the debt would provide securities that would serve trade as a species of currency, and would set in motion a long train of benefits ...
— Washington and His Colleagues • Henry Jones Ford
... might be formed for French colonial trade, [Footnote: Law's corporation was actually important in the development of Louisiana.] shares might be widely sold throughout the country, and the proceeds therefrom utilized to wipe out the public debt. Orleans accepted the scheme and for a while the country went mad with the fever of speculation. In due time, however, the stock was discovered to be worthless, the bubble burst, and a terrible panic ensued. The net result was ...
— A Political and Social History of Modern Europe V.1. • Carlton J. H. Hayes
... prosperity, or else she must be allowed to enjoy the benefits of English trade, taking at the same time a proportionate share of the common burdens. Adam Smith had shown that there was nothing incompatible with justice in a contribution by Ireland to the public debt of Great Britain. That debt, he argued, had been contracted in support of the government established by the Revolution; a government to which the Protestants of Ireland owed not only the whole authority which they enjoyed in their own country, ...
— Burke • John Morley
... a much greater proportion of the public debts consists in annuities for lives than in England. According to a memoir presented by the parliament of Bourdeaux to the king, in 1764, the whole public debt of France is estimated at twenty-four hundred millions of livres; of which the capital, for which annuities for lives had been granted, is supposed to amount to three hundred millions, the eighth part of the whole public debt. The annuities themselves are ...
— An Inquiry into the Nature and Causes of the Wealth of Nations • Adam Smith
... and the sullen settlers themselves were driven back across the river, though they protested and threatened resistance. Again and again this was done; not alone in the interest of the Indians, but in part also because Congress wished to reserve the lands for sale, with the purpose of paying off the public debt. At the same time surveying parties were sent out. But in each case, no sooner had the Federal Commissioners and their subordinates begun to perform their part of the agreement, than they were stopped by tidings of fresh outrages on the part of the very Indians with whom they had ...
— The Winning of the West, Volume Three - The Founding of the Trans-Alleghany Commonwealths, 1784-1790 • Theodore Roosevelt
... the necessity of a new and different government, was the state of trade and commerce. To benefit and improve these was a great object in itself; and it became greater when it was regarded as the only means of enabling the country to pay the public debt, and to do justice to those who had most effectually labored for its independence. The leading state papers of the time are full of this topic. The New Jersey resolutions[1] complain that the regulation of trade was ...
— The Great Speeches and Orations of Daniel Webster • Daniel Webster
... The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United ...
— Community Civics and Rural Life • Arthur W. Dunn
... II. the nation had great reason to wish for an alteration of measures. The public debt, notwithstanding the boasted economy and management of the ministers; notwithstanding the sinking fund, which had been extolled as a growing treasure sacred to the discharge of national incumbrances, was now increased to fifty millions two hundred and sixty-one thousand two hundred and ...
— The History of England in Three Volumes, Vol.II. - From William and Mary to George II. • Tobias Smollett
... of Congress, and these had no powers to execute. Congress had practically only the power to recommend to the States. It had no power to tax, to support armies or navies, to provide for the interest or payment of the public debt, to regulate commerce or internal affairs, or to perform any other function of an efficient national government. It was merely a convenient instrument of repudiation for the States; Congress was to borrow money and incur debts, which the States could refuse or neglect to provide for. ...
— American Eloquence, Volume I. (of 4) - Studies In American Political History (1896) • Various
... learn from a document in the Venetian archives (see p. 77) that it must have been previous to 1318, and subsequent to February 1309, the date of his last Will. The Will itself is not known to be extant, but from the reference to it in this document we learn that he left 1000 lire of public debt[2] (? imprestitorum) to a certain Marco Polo, called Marcolino. The relationship of this Marco to old Maffeo is not stated, but we may suspect him to have been an illegitimate son. [Marcolino was a son of Nicolo, son of Marco the Elder; see vol. ii., Calendar, ...
— The Travels of Marco Polo Volume 1 • Marco Polo and Rustichello of Pisa
... and registered bonds and fractional certificates issued on account of the public debt, and all bonds redeemed and cancelled by the Commissioners of the Sinking Fund; shall be the custodian of the books of the Commissioners of the Sinking Fund, and securities for money belonging thereto; shall audit all claims on account of the Board of Education, Corporation Commission, and any ...
— Civil Government of Virginia • William F. Fox
... may well be expected to have in comparison the most evanescent effect. "One gentleman," he says, "amused me considerably with his views," the said views being to the effect that New Zealand would be ready, when the final pressure came, to repudiate her heavy public debt. Another equally vivacious informant stated that, besides the 32 million pounds of colonial borrowing, "the municipal debts were at least as much more as the national debt." Now this is six times overstated for municipal and harbour ...
— Personal Recollections of Early Melbourne & Victoria • William Westgarth
... be endowed—1, With three millions five hundred thousand francs of rent, entered upon the great-book of the public debt, which sum will be unalienable, and exclusively applied to the formation of Majorats; 2, With eight hundred thousand francs of rent, equally entered and inalienable, to be applied to the expenses of ...
— Memoirs To Illustrate The History Of My Time - Volume 1 • Francois Pierre Guillaume Guizot
... plea of money owing to the revenue; that no freeman shall be thrown into prison for debt, unless it be a debt due to the royal revenue, and that no private debt shall be made over to the tax-gatherer, to be by him collected as a public debt; that no property settled on the wife at marriage shall be seized for taxes due from the husband; and that all new charges and claims which had grown up within the last five years shall be repealed. In order to ...
— History Of Egypt From 330 B.C. To The Present Time, Volume 11 (of 12) • S. Rappoport
... debates. At last Hamilton's plan for funding all the domestic debts was carried by a small majority in both Houses of Congress. The president suppressed his sentiments on the subject while it was under debate in Congress, but he approved the act for funding the public debt, and was from conviction a decided friend to the measure. It now became apparent to the most unreflecting that two great parties were in the process of formation, the one jealous of anything that might encroach upon democratic ...
— Great Men and Famous Women. Vol. 4 of 8 • Various
... miserable expedient of continued loans? Shall we try issues of Exchequer bills? Shall we resort to Savings' banks?—in short, to any of those expedients which, call them by what name you please, are neither more nor less than a permanent addition to the public debt? We have a deficiency of nearly L.5,000,000 in the last two years: is there a prospect of reduced expenditure? Without entering into details, but looking at your extended empire, at the demands which are made for the protection of your commerce, and the general ...
— Blackwood's Edinburgh Magazine, No. 327 - Vol. 53, January, 1843 • Various
... itself. The appropriation you have made of the Western land explains your dispositions on this subject, and I am persuaded that the sooner that valuable fund can be made to contribute, along with the other means, to the actual reduction of the public debt the more salutary will the measure be to every public interest, as well as the ...
— Complete State of the Union Addresses from 1790 to the Present • Various
... a Chancery Court; a King; A manufacturing mob; a set Of thieves who by themselves are sent Similar thieves to represent; 165 An army; and a public debt. ...
— Peter Bell the Third • Percy Bysshe Shelley
... state—those of the interior, of foreign affairs and of the grand-ducal house, of finance, and of justice, ecclesiastical affairs and education. The chief sources of revenue are direct and indirect taxes, domains and railways. The last are worked by the state, and the sole public debt, amounting to about 22 millions sterling, is attributable to this head. The supreme courts of justice of the duchy are in Karlsruhe, Freiburg, Offenburg, Heidelberg, Mosbach, Waldshut, Constance and Mannheim, whence appeals lie to the Reichsgericht (supreme tribunal of the empire) ...
— Encyclopaedia Britannica, 11th Edition, Volume 3, Part 1, Slice 2 - "Baconthorpe" to "Bankruptcy" • Various
... her, actually kindled her mind to an activity of wonder and regret, with the statement of how much Government, acting with some degree of farsightedness, might have won to pay the public debt and remit taxation, by originally retaining the lines of railway, and fastening on the valuable land adjoining stations. ...
— The Shaving of Shagpat • George Meredith
... government of another country should never be made by force." Senior Drago, Minister of Foreign Affairs in the same country in 1902, urged upon the United States a modification of the same view by asserting that "the public debt cannot occasion ...
— The Path of Empire - A Chronicle of the United States as a World Power, Volume - 46 in The Chronicles of America Series • Carl Russell Fish
... Law's Mississippi scheme, in 1720, roused the South Sea directory to emulation. They proposed to liquidate the public debt by reducing the various funds into one. January 22, 1720, a committee met on the subject. The South Sea Company offered to melt every kind of stock into a single security. The debt amounted to L30,981,712 at five per cent. for seven years, and afterwards at four per cent, for ...
— Old and New London - Volume I • Walter Thornbury
... commodities, these monopolies being "farmed" to private individuals, mostly Chinamen. It is rather puzzling to hear "farmers" spoken of so near the equator. A revenue of nearly half a million annually and a public debt of one hundred thousand pounds is not bad for so young a colony. The prosperity of the Straits Settlements ports is a great triumph for free traders, and a traveler, even if, like myself, he has ...
— The Golden Chersonese and the Way Thither • Isabella L. Bird (Mrs. Bishop)
... nature of the public debt of England a man has only to suppose one great national establishment, twice as large as those of the civil functionaries, the Army, Navy, and the Church together, and composed of members with fixed salaries, who purchased their commissions from the wisdom of our ancestors, with liberty ...
— Rambles and Recollections of an Indian Official • William Sleeman
... it be proposed to the State of Texas, that the United States will provide for the payment of all that portion of the legitimate and bona-fide public debt of that State contracted prior to its annexation to the United States, and for which the duties on foreign imports were pledged by the said State to its creditors, not exceeding the sum of—— dollars, in consideration of the said duties ...
— History of the Negro Race in America from 1619 to 1880. Vol. 2 (of 2) - Negroes as Slaves, as Soldiers, and as Citizens • George Washington Williams
... quantities of raw materials and export a large volume of manufactures, making its economy unusually dependent on the state of world markets. About three-quarters of its trade is with other EU countries. Belgium's public debt is expected to fall below 100% of GDP in 2002, and the government has succeeded in balancing is budget. Belgium became a charter member of the European Monetary Union (EMU) in January 1999. Economic growth in 2000 was broad based, putting the government in a good ...
— The 2001 CIA World Factbook • United States. Central Intelligence Agency.
... tiresome as well as superfluous to enter into minute details; the more so as the arrangement proposed was of a temporary character. After a long and minute discussion, Pitt's appraisement was admitted to come as near to strict fairness and equity as any that could be made; the separate discharge of its public debt already incurred was left to each kingdom; and it was farther settled that for twenty years fifteen parts of the expense of the nation out of seventeen should be borne by Great Britain ...
— The Constitutional History of England From 1760 to 1860 • Charles Duke Yonge
... prove its mettle in the war levied against it by Brazil for the possession of Uruguay. In the end Uruguay remained a part of Argentina. Brazil had previously achieved its complete independence from the mother country by assuming the public debt of Portugal, amounting to some ten million dollars. England gave its official recognition to these new changes of government as ...
— A History of the Nineteenth Century, Year by Year - Volume Two (of Three) • Edwin Emerson
... Report on Geological Specimens. Note by Editor. Governor Weld's Report (1874) on Western Australia. Table of Imports and Exports. Ditto of Revenue and Expenditure. Public Debt. Population. List of Governors. ...
— Explorations in Australia • John Forrest
... a descent on Spain, and, at the same time, to send a fleet to conquer Mexico."—The leading member on the committee on finances is Cambon, a merchant from Montpellier, a good accountant, who, at a later period, is to simplify accounting and regulate the Grand Livre of the public debt, which means public bankruptcy. Mean-while, he hastens this on with all his might by encouraging the Assembly to undertake the ruinous and terrible war that is to last for twenty-three years; according to him, "there is more money than is needed for it."[2206] In actual fact, ...
— The Origins of Contemporary France, Volume 3 (of 6) - The French Revolution, Volume 2 (of 3) • Hippolyte A. Taine
... result of this issue was apparently all that the most sanguine could desire: the treasury was at once greatly relieved; a portion of the public debt was paid; creditors were encouraged; credit revived; ordinary expenses were met, and, a considerable part of this paper money having thus been passed from the government into the hands of the people, trade increased and all difficulties seemed to vanish. The anxieties of Necker, ...
— Fiat Money Inflation in France - How It Came, What It Brought, and How It Ended • Andrew Dickson White
... Republicans,' who were thus adding hundreds of millions yearly to the public debt, struck hundreds of thousands out of the lawful income of the clergy of France. They ordered the dispersion by Executive decrees, and 'if necessary by military force,' of all religious orders and communities not 'authorised' ...
— France and the Republic - A Record of Things Seen and Learned in the French Provinces - During the 'Centennial' Year 1889 • William Henry Hurlbert
... assent to this scheme. An impost law of five per cent. upon certain imports and a specific duty upon others for twenty-five years were an essential part of the plan of 1783 to provide a revenue to meet the interest on the public debt and for other general purposes. That Rhode Island would continue obstinate on this point was more than probable; and the only hope of moving her was that she should be shamed or persuaded into compliance by the combined influence of all ...
— James Madison • Sydney Howard Gay
... governments. The costs of government at any stage are met in varying degrees in one of three ways: (1) from industrial sources, (2) by borrowing and thus creating a public debt, ...
— Modern Economic Problems - Economics Vol. II • Frank Albert Fetter
... sound currency. That is another ugly cloud ahead: there is going to be an attempt made to pass through both Houses a concurrent resolution advocating the free and unlimited coinage of silver and to pay the public debt with it. As far as our honour goes, the passing of such a resolution would affect us as deeply as if it were to become a law. We should stand before the world as willing and ready to violate the national honour, ignore our pledges and recklessly impair ...
— Senator North • Gertrude Atherton
... and immensely superior has it always been held in general estimation. At a later period, King Nicomedes wished to purchase this statue of the Cnidians, and made them an offer to pay off the whole of their public debt, which was very large. They preferred, however, to submit to any extremity rather than part with it; and with good reason, for by this statue Praxiteles has perpetuated the glory of Cnidos. The little temple in which it is ...
— The Best of the World's Classics, Restricted to prose. Volume II (of X) - Rome • Various
... vision and having the power to get what it desires, only the will to use the power is needed. And that will is motived by the great shadow that is hanging over the world—the shadow of public debt in this war. Someone must pay that debt. Heretofore war debts have fallen heaviest upon the poor. Those least able to pay have paid the most. But those least able to pay are coming out of this war too smart for the old adjustment of the debt. Education, for the past fifty ...
— The Martial Adventures of Henry and Me • William Allen White
... Proofs of this were seen in the improvements of agriculture, in the successful enterprises of commerce, in the progress of manufacturers and useful arts, in the increase of the public revenue and the use made of it in reducing the public debt, and in the valuable works and establishments everywhere multiplying over the face of ...
— United States Presidents' Inaugural Speeches - From Washington to George W. Bush • Various
... extinguish the Indian claims upon such lands;" that owing to the rapid increase in population it was necessary to provide for the settlement of the territories of the United States; that the public creditors were looking to the public lands as the basis for a fund to discharge the public debt. The committee went further. They reported with some particularity that the Indians had been the aggressors in the late war, "without even a pretense of provocation;" that they had violated the convention of neutrality made with Congress at ...
— The Land of the Miamis • Elmore Barce
... contre nous, et le tocsin sonne de toutes parts;" ["It is, however, the country people who take up arms against us, and the alarm is sounded from all quarters."] so that the French will, in fact, have created a public debt of so singular a nature, that every one will avoid as much as possible making any ...
— A Residence in France During the Years 1792, 1793, 1794 and 1795, • An English Lady
... the Union, and you, with your embarrassed finance, will find yourselves unable to institute military proceedings for their subjugation. Therefore I say that by the reconstruction some men desire you render secession certain, bankruptcy throughout the North certain. The repudiation of the Public Debt is not a matter of expectation or fear, it is a matter of certainty, if you assent to any reconstruction of this Union through the instrumentality of Jefferson Davis and his associates. You must either drive them into exile or exterminate them. Break down the military power of the people, ...
— Reminiscences of Sixty Years in Public Affairs, Vol. 2 • George S. Boutwell
... the expense of many valuable lives, and of a vast public debt, was, unquestionably, highly beneficial to the United States. It convinced all doubters that our government was abundantly able to resent aggressions, and to maintain its rights against the assaults of any nation on earth. This reputation has been of great service in protecting ...
— Life and Public Services of John Quincy Adams - Sixth President of the Unied States • William H. Seward
... to France without any obligation on the latter's part, not even the corresponding quota of public debt (Art. 51 ...
— Peaceless Europe • Francesco Saverio Nitti
... in the very year that the articles were fully adopted, and before the last State had given its adherence (1781), a member of Congress from New Jersey moved a recommendation to the States to invest Congress with additional means of paying the public debt and prosecuting the war of the Revolution, by laying duties on imports ...
— History of Woman Suffrage, Volume II • Elizabeth Cady Stanton, Susan B. Anthony, and Matilda Joslyn Gage
... forswear all further designs on Albania and concede a full pardon to all persons of those lands undergoing punishment for political or military offences. On her side Italy would consent to pay 200,000,000 francs as her share of the public debt and of other financial obligations of the provinces in question, to remain absolutely neutral during the present war, and to renounce all further claims to compensation arising out of Clause VII of ...
— England and Germany • Emile Joseph Dillon
... religious difficulties, Henry could take up the work of restoring prosperity to distracted France. His interest in the welfare of his subjects gained for him the name of "Good King Henry." With the help of Sully, his chief minister, the king reformed the finances and extinguished the public debt. He opened roads, built bridges, and dug canals, thus aiding the restoration of agriculture. He also encouraged commerce by means of royal bounties for shipbuilding. The French at this time began to have a navy and to compete with the Dutch and English ...
— EARLY EUROPEAN HISTORY • HUTTON WEBSTER
... the hostile state to Private Persons, are always held protected from confiscation, and there is only one instance in modern times where this rule has been broken. It is a matter of public faith; and even during war, no enquiry ought to be made whether any part of the public debt is due to the subjects of ...
— The Laws Of War, Affecting Commerce And Shipping • H. Byerley Thomson
... Macpherson, but when sent for he turned out to be a Chinaman. He had been shrewd enough to see that he had no chance of getting the work in his own name. The total population of New Zealand is a little over 500,000, and the public debt is about L37,000,000. This seems to show that taxation must be high. A good deal of this large amount has, it is true, been expended on railways, which all belong to the State, and therefore the burden, though heavy, is not quite so heavy as it appears at first ...
— Six Letters From the Colonies • Robert Seaton
... Austria's access to the single European market. Through privatization efforts, the 1996-98 budget consolidation programs, and austerity measures, Austria has brought its total public sector deficit down to 2.1% of GDP in 1999 and public debt - at 63.1% of GDP in 1998 - more or less in line with the 60% of GDP required by the EMU's Maastricht criteria. Cuts mainly have affected the civil service and Austria's generous social benefit system, ...
— The 2000 CIA World Factbook • United States. Central Intelligence Agency.
... condition of levying these occasional taxes, they were obliged to borrow at interest. Interest was then to communities at the same exorbitant rate as to individuals. No province was free from a most onerous public debt; and that debt was far from operating like the same engagement contracted in modern states, by which, as the creditor is thrown into the power of the debtor, they often add considerably to their strength, and to the number and attachment ...
— The Works of the Right Honourable Edmund Burke, Vol. VII. (of 12) • Edmund Burke
... got to be worth fifty pounds of his own; and as for railing at human follies, it would have been rank ingratitude in one who so very unequivocally got his bread by them. About this time, his remarks on the subject of taxation, however, were singularly caustic, and well applied. He railed at the public debt, as a public curse, and ominously predicted the dissolution of society, in consequence of the burdens and incumbrances it was hourly accumulating on the already overloaded ...
— The Monikins • J. Fenimore Cooper
... doubt continue to guard the public credit, by adequate provisions for discharging the interest and finally sinking the principal of our public debt. The sale of our vacant Lands, and the debts due to the Treasury, will contribute to ease the people from too great a burthen of direct taxes. The Treasurer's statements will ascertain the demands necessary for ...
— The Original Writings of Samuel Adams, Volume 4 • Samuel Adams
... find out, if possible, the amount of the whole of those demands, in order to see how much, supposing the country in a condition to furnish the fund, may remain to satisfy the public debt and the necessary establishments. But I have been foiled in ...
— The Works of the Right Honourable Edmund Burke, Vol. III. (of 12) • Edmund Burke
... national authority. Its payment was urged as equally pressing upon the public faith and honour; and when the whole year's account was stated, in what is called The Budget, the Ministry valued themselves on the payment of so much public debt, just as if they had discharged 500,000 pounds of navy or exchequer bills. Though, in truth, their payment, from the Sinking Fund, of debt which was never contracted by Parliamentary authority, was, to all intents and purposes, so much debt incurred. But such ...
— Thoughts on the Present Discontents - and Speeches • Edmund Burke
... concerned, the predominant feeling, North and South, was hostile to it. The security of the country demanded the union of the States under one common Constitution. The dangers of foreign war, the exhausted finances of the different States, the evils of a great public debt, contracted during the Revolution, made it advisable, as soon as the consent of the States could be got, to have a Constitution that should command security at home and credit and respect abroad. It was regarded as indispensable ...
— Continental Monthly, Vol. I, No. VI, June, 1862 - Devoted To Literature and National Policy • Various
... to them or sold to them for a small sum. After 1824 efforts were made by Benton and others to reduce the price of land to actual settlers. [5] But Congress did not adopt any of these measures. After 1830, when the public debt was nearly paid, Clay attempted to have the money derived from land sales distributed among all the states. The question what to do with the lands was discussed year after year. At last in 1841 (while Tyler was President) Clay's bill became a law with the proviso ...
— A Brief History of the United States • John Bach McMaster
... rate of exchange from three to three and a half, while others kept on at the old rate; and I labored hard to collect old debts, and strove, in making new loans, to be on the safe side. The State and city both denied much of their public debt; in fact, repudiated it; and real estate, which the year before had been ...
— Memoirs of Three Civil War Generals, Complete • U. S. Grant, W. T. Sherman, P. H. Sheridan
... Comman'ments in her pus? Could the world stir 'thout she went, tu, ez nus? She ain't like other mortals, thet's a fact: She never stopped the habus-corpus act, Nor specie payments, nor she never yet Cut down the int'rest on her public debt; She don't put down rebellions, lets 'em breed, An' 's ollers willin' Ireland should secede; She's all thet's honest, honnable, an' fair, An' when the vartoos ...
— Atlantic Monthly, Vol. 9, No. 52, February, 1862 • Various
... bill now reported, was for the issue of $150,000,000 of Treasury notes, differing from those previously authorized by being declared a legal-tender for all obligations, public and private, except duties on imports and interest on the public debt. The notes were also to be exchangeable into six per cent. bonds, redeemable at the pleasure of the United States after five years. In reporting the bill, Mr. Spaulding called it "a war measure, a measure of necessity not of choice, to meet the most pressing ...
— Twenty Years of Congress, Vol. 1 (of 2) • James Gillespie Blaine
... prevented us from gaining materially."* The State Bank and the Shawneetown Bank failed in 1842, and when Ford became governor in that year he estimated that the good money in the state in the hands of the people did not exceed one year's interest on the public debt. ...
— The Story of the Mormons: • William Alexander Linn
... government, under which, after having at great sacrifice and courage overcome the native difficulties on their borders, they lived a happy and contented existence, with increasing prosperity, no public enemy, perfect civil and religious equality, and, except for railways and public works, no public debt, until in 1899 that wonderful loyalty to race which is so remarkable a trait in the Dutch African involved them in the ambitions and the ruin of the ...
— Our Sailors - Gallant Deeds of the British Navy during Victoria's Reign • W.H.G. Kingston
... 1792, the Ohio Land Company, for example, received 100,000 acres, and in the same year it bought 892,900 acres for $642,856.66. But this sum was not paid in money. The bankers and traders composing the company had purchased, at a heavy discount, certificates of public debt and army land warrants, and were allowed to tender these as payment. [Footnote: U. S. Senate Executive Documents, Second Session, Nineteenth Congress, Doc. No. 63.] The company then leisurely disposed of its land to settlers at an enormous profit. ...
— Great Fortunes from Railroads • Gustavus Myers
... been drawn respecting the non-increase of the debt, proceed upon the presumption that every part of the public debt, as well that of the States individually, as that of the United States, was to have been honestly paid. If there is any fallacy in this supposition, the inferences may be erroneous; but the error would imply the disgrace of the United States, or parts of them,—a disgrace from which every ...
— Choice Specimens of American Literature, And Literary Reader - Being Selections from the Chief American Writers • Benj. N. Martin
... from financial ruin through a prodigious system of credit, of which Louisiana, with its imaginary gold mines, was made the basis. The government used every means to keep up the stock of the Mississippi Company. It was ordered that the notes of the royal bank and all certificates of public debt should be accepted at par in payment for its shares. Powers and privileges were lavished on it. It was given the monopoly of the French slave-trade, the monopoly of tobacco, the profits of the royal mint, and ...
— A Half Century of Conflict - Volume I - France and England in North America • Francis Parkman
... Great Corn and Little Corn islands as coaling stations. The consideration for these favors was the sum of three millions of dollars to be expended, with the approval of the Secretary of State of the United States, in paying the public debt of Nicaragua and for other public purposes to be agreed on by the ...
— From Isolation to Leadership, Revised - A Review of American Foreign Policy • John Holladay Latane
... stated that financiers of that time established taxes on registration of all kinds, also on stamps, and on sales, which did not before exist in France, and which were borrowed from the Roman emperors. We must also give them the credit of having first commenced a public debt, under the name of rentes perpetuelles, which at that time realised eight per cent. During this brilliant and yet disastrous reign the additional taxes were enormous, and the sale of offices produced such a large revenue that the post of parliamentary counsel realised the sum of 2,000 golden ecus, ...
— Manners, Custom and Dress During the Middle Ages and During the Renaissance Period • Paul Lacroix
... benedictions of his country, which, under his wise, virtuous, and cheap administration, had, in spite of numerous difficulties, risen to such a magnitude, that its friendship was courted by all the old Governments. It appeared that the public debt was 78 millions of dollars, not more than 16 millions sterling, which sum was yearly diminishing, and that the annual expenditure of the chief officer of the state was only nine thousand five hundred pounds, not above half the amount of the sinecure of the ...
— Memoirs of Henry Hunt, Esq. Volume 2 • Henry Hunt
... his son within a few days," continued the prelate, taking the king's hand in his own. "My son, cease to worry. Alexia's future is in good hands. I have confidence that the public debt will be liquidated on ...
— The Puppet Crown • Harold MacGrath
... IMMEDIATE CAUSE.—The immediate cause of the Revolution was the immense public debt, and the virtual bankruptcy of ...
— Outline of Universal History • George Park Fisher
... subtle counsel, and in spite of great temptation, we have dealt with the public debt on the simple and honest principle that the only thing to do with a debt is to pay it. The National credit is the best in the world, and the National debt has ceased to be an object either ...
— Autobiography of Seventy Years, Vol. 1-2 • George Hoar
... devote heart and mind, strength and money, to the prosecution of the campaign, without considering what may be its duration, and without fear of circumstance or expenditure. If it be necessary, let the public debt be increased until it reaches and exceeds the public liabilities of the most indebted Government of Europe. We and our descendants will cheerfully pay the interest on that expenditure which purchased so great a blessing as national endurability. ...
— Continental Monthly, Vol. III, No IV, April 1863 - Devoted to Literature and National Policy • Various
... Khedive's Ministers should be responsible to the people's representatives, and that the Dual Control of Great Britain and France should be limited to the control of the revenues set apart for the purposes of the Egyptian public debt. The petitioners, however, ignored the fact that democracy could scarcely be expected to work successfully in a land where not one man in a hundred had the least notion what it meant, and, further, that the Western Powers would not give up their coign of vantage at the bidding ...
— The Development of the European Nations, 1870-1914 (5th ed.) • John Holland Rose
... Amendments; Assumptions of Public Debt; Supremacy of the Constitution, &c.; Oaths and ...
— The Government Class Book • Andrew W. Young
... canvassed by the Prime Minister, the Secretaries of State, the Viceroy and the Irish Secretary. Titles, pensions and offices were freely promised. Vast sums of secret service money, afterwards added as a charge to the public debt of Ireland, were remitted from Whitehall. An army of pamphleteers, marshalled by Under-Secretary Cooke, and confidentially directed by the able but anti-national Bishop of Meath, (Dr. O'Beirne,) ...
— A Popular History of Ireland - From the earliest period to the emancipation of the Catholics • Thomas D'Arcy McGee |
