"Public debt" Quotes from Famous Books
 ... Gulf of Fonseca, and also the 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
... 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 ...
— Fiat Money Inflation in France - How It Came, What It Brought, and How It Ended • Andrew Dickson White
... state. A heavy domestic and foreign debt presented importunate creditors at the door of government; the treasury was empty; public credit was utterly prostrated, and every effort of the late government to fund the public debt ...
— Washington and the American Republic, Vol. 3. • Benson J. Lossing
... Public Debt and Property. 2. The Regulation of Trade and Commerce. 3. The raising of Money by any Mode or System of Taxation. 4. The borrowing of Money on the Public Credit. 5. Postal Service. 6. The Census and Statistics. 7. Militia, Military and Naval ...
— The British North America Act, 1867 • Anonymous
... 'true 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
... Probabilities, their connexion with fortune-telling Productive powers, their intricacy Promenades, evening ones proposed Prosperity, national, its true signs Principals in trade, their cares Promenade in St. James's Park, its ancient splendor Pride, lessons to correct Printing, its abuse Public Debt, how has it been expended Putney-Heath, objects upon it described Public purse, a necessary stimulus ...
— A Morning's Walk from London to Kew • Richard Phillips
... 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 ...
— History of Holland • George Edmundson
... of dishonest and 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 ...
— Autobiography of Seventy Years, Vol. 1-2 • George Hoar
... to go as delegates to Paris in order to come to some understanding with the Government. Andrieux, in the days of the Empire, had acquired fame as a revolutionist by proposing at a meeting to burn the ledger of the public debt. It seems, however, that these close and trusted friends of Bakounin began immediately upon their arrival in Paris to solicit various public positions remunerative to themselves,[2] and, although they succeeded in having General Cluseret sent to take command of the ...
— Violence and the Labor Movement • Robert Hunter
... bide their time, and as a united and one-minded people, 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 ...
— Continental Monthly, Vol. III, No IV, April 1863 - Devoted to Literature and National Policy • Various
... "is absolutely necessary for England. The nation has been foolishly involved in four wars, and can no longer raise money to carry them on. If continued, it will be absolutely necessary to stop the payment of interest money on the public debt." ...
— Benjamin Franklin, A Picture of the Struggles of Our Infant Nation One Hundred Years Ago - American Pioneers and Patriots Series • John S. C. Abbott
... able to preserve it against the incumbent weight of Connecticut on the one side, and the co-operating pressure of New Jersey on the other? These are questions that temerity alone will answer in the affirmative. The public debt of the Union would be a further cause of collision between the separate States or confederacies. The apportionment, in the first instance, and the progressive extinguishment afterward, would be alike productive of ...
— The Federalist Papers
... protracted and vehement 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 principles; ...
— Great Men and Famous Women. Vol. 4 of 8 • Various
... "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 ...
— The Deaf - Their Position in Society and the Provision for Their - Education in the United States • Harry Best
... at 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 ...
— Life and Public Services of John Quincy Adams - Sixth President of the Unied States • William H. Seward
... soon became and has since continued to be the most important committee of the House. To it were to be referred all reports from the Treasury Department, all propositions relating to revenue, and it was to report on the state of the public debt, revenue, and expenditures. The committee was appointed without opposition. It consisted of fourteen members, William Smith, Sedgwick, Madison, Baldwin, Gallatin, Bourne, Gilman, Murray, Buck, Gilbert, Isaac Smith, Blount, Patten, and Hillhouse, and represented ...
— Albert Gallatin - American Statesmen Series, Vol. XIII • John Austin Stevens
... days; to Tower Street, where he went to school; to the Fleet, where he once lived within the "rules" of the prison; to Norfolk Street, where he dwelt awhile almost in hiding from the creditors who were pressing him, probably for the public debt ...
— London Films • W.D. Howells
... the change from the present gold to a single silver standard. At the rate of $24,000,000 a year, it is only a question of time when the Treasury will be obliged to pay out, for its regular disbursements on the public debt, silver in such amounts as will drive gold out of circulation. In February, 1884, it was feared that this was already at hand, and was practically reached in the August following. Unless a repeal of the law is reached very soon, the uncomfortable spectacle ...
— Principles Of Political Economy • John Stuart Mill
... power which has been hitherto confined to civil life,—whether the attractions of military career may not turn the rising generation from the pursuits of trade and tillage, to the idle, or the ferocious life of the American campaigner,—and whether the pressure of public debt, the necessity for maintaining their half-savage conquests by an army, and the passion for territorial aggrandisement, may not urge them to a colonial war with England,—are only parts of the great problem which the next five-and-twenty ...
— Blackwood's Edinburgh Magazine, Volume 61, No. 380, June, 1847 • Various
... States as a Nation, and 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 and ...
— History of Woman Suffrage, Volume II • Elizabeth Cady Stanton, Susan B. Anthony, and Matilda Joslyn Gage
... area they drain, the geographical features of the district, and the works erected by the city. Mr. Butler maintains that the Croton valley, with proper storage reservoirs, can abundantly supply the whole city; and that no new aqueduct need be constructed in the present condition of the public debt. ...
— Scientific American, Volume XXXVI., No. 8, February 24, 1877 • Various
... selects top leaderships and carries on its internal feuds and wars of succession dividing the defense forces and using them for partisan purposes. Overhead costs rise; deficits in the public treasury grow; so does public debt. Inflation follows, and the debasement of the currency. Levies are made on private wealth for public purposes. There is expropriation of the property of political enemies. Espionage, secret agents, the growth ...
— Civilization and Beyond - Learning From History • Scott Nearing
... The heavy public debt contracted by Upper Canada prior to 1840 had been largely accumulated by the efforts of its people to obtain the active sympathy and cooperation of the legislature of French Canada, where Papineau and his followers ...
— Lord Elgin • John George Bourinot
... the several acts, the one entitled "An act making provision for the debt of the United States" and the other entitled "An act making provision for the reduction of the public debt," I do hereby authorize and empower you, by yourself or any other person or persons, to borrow on behalf of the United States, within the said States or elsewhere, a sum or sums not exceeding in the whole $14,000,000, and to make or cause to be made ...
— A Compilation of the Messages and Papers of the Presidents - Section 1 (of 3) of Volume 10. • James D. Richardson
... 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 ...
— History of Woman Suffrage, Volume III (of III) • Various
... when the grant is immediately made, without waiting for naturalization. When the children of the settler reach twenty-one years of age, or become the head of a family, they each receive from the Government a like donation of 160 acres. The intrinsic value of this public domain far exceeds the whole public debt of the ...
— The Continental Monthly, Volume V. Issue I • Various
... Wallonia. With few natural resources, Belgium must import substantial 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 ...
— The 2001 CIA World Factbook • United States. Central Intelligence Agency.
... classes in life,) will find a full third of it to go in taxes, direct or indirect. If so, this new-created income of two millions will probably furnish 665,000l. (I avoid broken numbers) towards the payment of its own interest, or to the sinking of its own capital. So it is with the whole of the public debt. Suppose it any given sum, it is a fallacious estimate of the affairs of a nation to consider it as a mere burden. To a degree it is so without question, but not wholly so, nor anything like it. If the income from the interest be spent, the above proportion returns ...
— The Works of the Right Honourable Edmund Burke, Vol. V. (of 12) • Edmund Burke
... appeared to be 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 sight. A friend ...
— Six Letters From the Colonies • Robert Seaton
... 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,) and by Lord ...
— A Popular History of Ireland - From the earliest period to the emancipation of the Catholics • Thomas D'Arcy McGee
... the expedition, protested from his retirement at Monticello against such "employment of military force for civil purposes." To his mind the disorder was simply a riot and not an insurrection. "Yet it answered the purpose," said he, "of strengthening the government and increasing public debt and therefore an insurrection was announced." To Madison he declared: "The excise law is an infernal one. The first error was to admit it to the Constitution; the second, to act on that admission; the third and last will be to make it the instrument of dismembering the Union." Madison, ...
— The United States of America Part I • Ediwn Erle Sparks
... honor and credit of the State demanded legislation upon the subject of the public debt, the canal, the unfinished public works, and the embarrassments of the people, the judiciary stood upon a basis which required no change—no legislative action. Yet the party in power, neglecting ...
— The Papers And Writings Of Abraham Lincoln, Complete - Constitutional Edition • Abraham Lincoln
... believe that we should continue to enjoy these vast advantages? But a democracy has never been established in any part of the world, that it has not immediately declared war against property—against the payment of the public debt—and against all the principles of conservation, which are secured by, and are, in fact, the principal objects of the British constitution, as it now exists. Property, and its possessors, will become the common enemy. ...
— Maxims And Opinions Of Field-Marshal His Grace The Duke Of Wellington, Selected From His Writings And Speeches During A Public Life Of More Than Half A Century • Arthur Wellesley, Duke of Wellington
... authorizing the levy of a moderate duty on imports. Yet this mild measure was rejected by the states. Two years later the Congress prepared another amendment sanctioning the levy of duties on imports, to be collected this time by state officers and applied to the payment of the public debt. This more limited proposal, designed to save public credit, likewise failed. In 1786, the Congress made a third appeal to the states for help, declaring that they had been so irregular and so negligent in paying their quotas that further reliance ...
— History of the United States • Charles A. Beard and Mary R. Beard
... was really nothing but a pronunciamento of Bonaparte. He decreed a general amnesty to all offenders except the commander of Fort Luco, who had recently fired on the French vessel. He also guaranteed the public debt, and promised to occupy the city only as long as the public order required it. By a series of secret articles, vaguely expressed, Venice was bound to accept the stipulations of Leoben in regard to territory, pay an indemnity of one million two hundred thousand ...
— The Life of Napoleon Bonaparte - Vol. I. (of IV.) • William Milligan Sloane
... deposit account demands. Funds from such portion of fees shall be invested in securities that permit funds to be available to the Copyright Office at all times if they are determined to be necessary to meet current deposit account demands. Such investments shall be in public debt securities with maturities suitable to the needs of the Copyright Office, as determined by the Register of Copyrights, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields ...
— Copyright Law of the United States of America and Related Laws Contained in Title 17 of the United States Code, Circular 92 • Library of Congress. Copyright Office.
... arsenal, which 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
... concluded by her with Egypt. She undertakes not to intervene in any negotiations about Egypt between Great Britain and other Powers. There are provisions for jurisdiction over German nationals and property and for German consent to any changes which may be made in relation to the Commission of Public Debt. Germany consents to the transfer to Great Britain of the powers given to the late Sultan of Turkey for securing the free navigation of the Suez Canal. Arrangements for property belonging to German nationals in Egypt are ...
— World's War Events, Volume III • Various
... flattering host, The tongues that fed him with applause, The noisy champions of 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
... foreign investors attracted by 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 two major causes of the government's deficit. To meet ...
— The 2000 CIA World Factbook • United States. Central Intelligence Agency.
... subjects nor with its creditors; it has endeavored, by all means in its power, to crush the constitutional liberties of its subjects; and by refusing, throughout this period, to pay a single drachma of its public debt, it has stamped itself either hopelessly bankrupt or scandalously fraudulent. The people, meanwhile, crushed by the incubus of a dishonest and extravagant foreign rule, remain in nearly the situation they held on the ...
— Mosaics of Grecian History • Marcius Willson and Robert Pierpont Willson
... now upon those of my proceedings in 1853 which related to interest upon exchequer bills and to the reduction of interest on the public debt, I think that there was nothing in the proposals themselves which might not have taken full and quick effect, if they had been made at a time which I may best describe as the time that precedes high-water ...
— The Life of William Ewart Gladstone, Vol. 1 (of 3) - 1809-1859 • John Morley
... the power to inflict taxes or to diminish them, to pay the public debt and to make provision for the general defence and welfare of the State; similarly to take up money on the credit of the State, and also ...
— Selected Official Documents of the South African Republic and Great Britain • Various
... is 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
... of Missouri, has a project of taxation for the extinguishment of the public debt—a sweeping taxation, amounting to one-half the value of the real and personal estate of the Confederate States. He got me to commit his ideas to writing, which I did, ...
— A Rebel War Clerk's Diary at the Confederate States Capital • John Beauchamp Jones
... hopes of 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 army, ...
— The Conqueror • Gertrude Franklin Atherton
... economy. But just how economies were actually to be effected was not so clear. For months Gallatin had been toiling over masses of statistics, trying to reconcile a policy of reduced taxation, to satisfy the demands of the party, with the discharge of the public debt. By laborious calculation he found that if $7,300,000 were set aside each year, the debt—principal and interest—could be discharged within sixteen years. But if the unpopular excise were abandoned, where was the needed revenue to be found? ...
— Jefferson and his Colleagues - A Chronicle of the Virginia Dynasty, Volume 15 In The - Chronicles Of America Series • Allen Johnson
... their borders be given 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 ...
— A Brief History of the United States • John Bach McMaster
... That 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 so pledged having been no longer applicable ...
— 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
... 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
... the liquidation of the public debt; that on the subject of the army and navy he was prepared to make considerable concessions, provided the power of the sword were, after a certain period, to revert unimpaired to him and his successors; and that he could not, consistently with his honour, ...
— The History of England from the First Invasion by the Romans - to the Accession of King George the Fifth - Volume 8 • John Lingard and Hilaire Belloc
... 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 ...
— A Brief History of Panics • Clement Juglar
... the expenses of the war, and, although an attempt had been made to establish a general system of revenue from duties on imports, individual States had obstructed the prosecution of this plan, and the government had found itself unable to raise the funds necessary to pay the interest on the public debt. It had, in fact, no power to regulate commerce or collect a revenue. This made it incapable of executing treaties, fulfilling its foreign engagements, or causing itself to be respected by foreign nations. While at home its weakness was ...
— Life And Times Of Washington, Volume 2 • John Frederick Schroeder and Benson John Lossing
... executive power, except committees 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 ...
— American Eloquence, Volume I. (of 4) - Studies In American Political History (1896) • Various
... exclude them from bringing their fish into the Mediterranean. France is opening her ports for their oil, but in the mean while their ancient debts are pressing them, and they have nothing to pay with. The Massachusetts Assembly, too, in their zeal for paying their public debt, had laid a tax too heavy to be paid, in the circumstances of their State. The Indians seem disposed, too, to make war on us. These complicated causes determined Congress to increase their forces to two thousand men. The latter was the sole object avowed, yet the former entered for something into ...
— Memoir, Correspondence, And Miscellanies, From The Papers Of Thomas Jefferson - Volume I • Thomas Jefferson
... of Necho's oracle came with terrible force, and generations of Nile husbandmen must toil early and late to pay the interest on the public debt incurred through Ismail's prodigality. This degraded man in his exile persistently maintained that he believed he was doing right when borrowing for the canal, for it was to elevate Egypt to a position of honor and prominence in the list of nations. ...
— East of Suez - Ceylon, India, China and Japan • Frederic Courtland Penfield
... representative. Naturally, while these things might be to the advantage of Palmer or not, they were of no great import to Burridge, but yet he managed to see in them an attempt or attempts to saddle a large public debt upon widows and orphans, those who could not afford or did not need these things, and he proceeded to so express himself at various public meetings. Slowly the breach widened. Burridge became little more than a malcontent in many people's eyes. He was a "knocker," ...
— Twelve Men • Theodore Dreiser
... accession of George 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 six pounds, ...
— The History of England in Three Volumes, Vol.II. - From William and Mary to George II. • Tobias Smollett
... 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 for trade on the high seas. Henry's work ...
— EARLY EUROPEAN HISTORY • HUTTON WEBSTER
... originating in the Civil War, was the passage of the act "to provide internal revenue to support the government and to pay interest on the public debt," approved July 1, 1862. Mr. Boutwell organized the Office of Internal Revenue and was the first internal revenue commissioner, receiving his appointment while at Cairo in the service of the War Department. ...
— Reminiscences of Sixty Years in Public Affairs, Vol. 1 • George Boutwell
... 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 died they made ...
— Atlantic Monthly, Vol. 9, No. 52, February, 1862 • Various
... 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 ...
— Explorations in Australia • John Forrest
... unrivaled growth of our faculties and resources. 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 ...
— United States Presidents' Inaugural Speeches - From Washington to George W. Bush • Various
... 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 ...
— Cotton is King and The Pro-Slavery Arguments • Various
... 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; ...
— Civil Government of Virginia • William F. Fox
... began to complain of the heavy demands which the Americans made upon its exchequer, and Vergennes, in sending over a new loan in the fall of 1782, warned Franklin that no more must be expected. To save American credit from destruction, it was at least necessary that the interest on the public debt should be paid. For this purpose Congress in 1781 asked permission to levy a five per cent. duty on imports. The modest request was the signal for a year of angry discussion. Again and again it was asked, If taxes could thus be levied by any power ...
— The Critical Period of American History • John Fiske
... 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; ...
— The Travels of Marco Polo Volume 1 • Marco Polo and Rustichello of Pisa
... intend to be ruined by such a course. I raised the 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 first-class security, became ...
— Memoirs of Three Civil War Generals, Complete • U. S. Grant, W. T. Sherman, P. H. Sheridan
... Belgium must import substantial quantities of raw materials and export a large volume of manufactures, making its economy unusually dependent on the state of world markets. Roughly three-quarters of its trade is with other EU countries. Public debt is nearly 100% of GDP. On the positive side, the government has succeeded in balancing its budget, and income distribution is relatively equal. Belgium began circulating the euro currency in January 2002. Economic growth in 2001-03 dropped sharply because of the global economic slowdown, ...
— The 2005 CIA World Factbook • United States. Central Intelligence Agency
... uprightness, and incorrupt refusal of what ye were incensed to, Lords and Commons— though it were done to justice, not to me, and was a peculiar demonstration how far your ways are different from the rash vulgar— besides those allegiance of oath and duty which are my public debt to your public labours, I have yet a store of gratitude laid up which cannot be exhausted; and such thanks perhaps they may live to be as shall more than whisper them ...
— The Life of John Milton Vol. 3 1643-1649 • David Masson
... country people, "c'est cependant les gens de campagne qui s'arment 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
... 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 ...
— The Empire of the East • H. B. Montgomery
... this matter, I will pass to the Financial clauses of the Report. When the country was annexed, the public debt amounted to 301,727 pounds. Under British rule this debt was liquidated to the extent of 150,000 pounds, but the total was brought up by a Parliamentary grant, a loan from the Standard Bank, and sundries ...
— Cetywayo and his White Neighbours - Remarks on Recent Events in Zululand, Natal, and the Transvaal • H. Rider Haggard
... inconclusive document. It began with a scathing indictment of the Conservative policy and its outcome: 'Its real tendency has been towards disintegration and annexation.... It has left us with a smaller population, a scanty immigration, and a North-West empty still; with enormous additions to our public debt and yearly charge, an extravagant system of expenditure and an unjust tariff, with restricted markets whether to buy or to sell.... It has left us with lowered standards of public virtue and a death-like apathy in public opinion, with racial, religious, ...
— The Day of Sir Wilfrid Laurier - A Chronicle of Our Own Time • Oscar D. Skelton
... the English government to emancipate the country from the restrictive policy which had been introduced by the "glorious revolution;" memorable epoch, that presented England at the same time with a corn law and a public debt.. But on no subject was the magnetic influence of the descendant of Sir William Petty more decided, than in the resolution of his pupil to curb the power of the patrician party by an infusion from the middle classes ...
— Sybil - or the Two Nations • Benjamin Disraeli
... 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 ...
— The Land of the Miamis • Elmore Barce
... some eighty deserters from the army so threatened Congress as to force a removal of our Federal capital from that place to Princeton. The Continental finances were in a deplorable condition. Congress could not even collect sufficient taxes for the payment of the interest on the public debt. The States could, and often did, refuse to pay their proportion of taxes imposed upon them by Congress. Congress made a last attempt, in 1785, to raise a revenue by a tax on imported goods, but this measure failed, New York refusing to ratify. Congress, indeed, did not collect one-fourth ...
— Government and Administration of the United States • Westel W. Willoughby and William F. Willoughby
... the 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 ...
— Twenty Years of Congress, Vol. 1 (of 2) • James Gillespie Blaine
... recourse to the 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 ...
— Blackwood's Edinburgh Magazine, No. 327 - Vol. 53, January, 1843 • Various
... so much trouble caused by the governors appropriating money belonging to the citizens, he decided to take a very different course. He had the public accounts looked into, and said, "I wish it known to all the world that the public debt has not been contracted in my time." And having said this (which made a fine impression) the Governor asked the Assembly to set aside enough money for him to run the affairs of the province for a number of years. ...
— The Story of Manhattan • Charles Hemstreet
... long since when Sparta's shore he trod, On young Ulysses Iphitus bestowed: Beneath Orsilochus' roof they met; One loss was private, one a public debt; Messena's state from Ithaca detains Three hundred sheep, and all the shepherd swains; And to the youthful prince to urge the laws, The king and elders trust their common cause. But Iphitus, employed on other cares, ...
— The Odyssey of Homer • Homer, translated by Alexander Pope
... when she winks; Hain't she the Ten 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; 130 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 ...
— The Complete Poetical Works of James Russell Lowell • James Lowell
... of the island disposes of a budget of about $3,300,000, and is a woeful example of corrupt officialism. Of this sum only about $650,000 is expended in the island, the remainder being applied to payment of interest on public debt, salaries of Spanish officials, army, navy, and other extra-insular expenditures. But the whole of the revenue is collected ...
— The Story of the Philippines and Our New Possessions, • Murat Halstead
... the public debt, of the Empire and of its members—creditors of the Empire being accounted accessory to the culpable enterprise ...
— An Inquiry Into The Nature Of Peace And The Terms Of Its Perpetuation • Thorstein Veblen
... entailed a debt of six thousand pounds sterling on a poor colony, which, at that period, was a grievous burden. The provincial assembly, who, during the absence of the governor had been under prorogation, now met, to concert ways and means for discharging this public debt. Great dissensions and confusion prevailed among them; but the governor, having a number of men under arms to whom the country stood indebted, despised all opposition, and silenced the malecontents by threats and compulsion. A bill was brought ...
— An Historical Account Of The Rise And Progress Of The Colonies Of South Carolina And Georgia, Volume 1 • Alexander Hewatt
... of the age. Commanding the enormous capital of the Medicean bank he contrived, at any sacrifice of temporary convenience, to lend money to the State for war expenses, engrossing in his own hands a large portion of the public debt of Florence. At the same time his agencies in various European capitals enabled him to keep his own wealth floating far beyond the reach of foes within the city. A few years of this system ended in so complete ...
— Sketches and Studies in Italy and Greece, Second Series • John Addington Symonds
... larger and ever larger number of establishments passed from the hands of individual capitalists into stock corporations—a change that ever is more or less connected with an increase of production. The new issues, that, as a result of these combinations and due also to the increase of the public debt, were contracted in the international money market, ran up in 1887 to about 4,000 million marks; in 1888, to 5,500 million; and in 1889, to even 7,000 million. On the other hand, the capitalists of all countries were endeavoring to "regulate" prices and production by means of national and international ...
— Woman under socialism • August Bebel
... hands pressed convulsively over his ears. I think I shall be able to have this ready for exhibition by the time Mr. Wise is nominated for the Presidency,—certainly before he is elected. The material to be plaster, made of the shells of those oysters with which Virginia shall have paid her public debt. It may be objected, that plaster is not durable enough for verisimilitude, since bronze itself could hardly be expected to outlast one of the Governor's speeches. But it must be remembered that his mere effigy cannot, like its prototype, have the pleasure of hearing itself talk; so that to the ...
— Atlantic Monthly, Volume 6, No. 38, December, 1860 • Various
... luminous, voluminous! Ye twice ten hundred thousand daily scribes! Whose pamphlets, volumes, newspapers, illumine us! Whether you're paid by government in bribes, To prove the public debt is not consuming us— Or, roughly treading on the "courtier's kibes" With clownish heel[501] your popular circulation Feeds you by ...
— The Works of Lord Byron, Volume 6 • Lord Byron
... underemployment, and a high debt burden - the result of government bailouts to ailing sectors of the economy, most notably the financial sector in the mid-1990s. Following a strategy begun in 2004, Jamaica has reduced its public debt to 130% of GDP. Inflation has declined to 9%. Uncertain economic conditions have led to increased civil unrest, including gang violence fueled by the drug trade. The government faces the difficult prospect of having to achieve fiscal discipline in order to maintain debt payments ...
— The 2007 CIA World Factbook • United States
... from this embarrassment is to appropriate the surplus in the Treasury to great national objects for which a clear warrant can be found in the Constitution. Among these I might mention the extinguishment of the public debt, a reasonable increase of the Navy, which is at present inadequate to the protection of our vast tonnage afloat, now greater than that of any other nation, as well as to the defense of ...
— A Compilation of the Messages and Papers of the Presidents - Section 4 (of 4) of Volume 5: James Buchanan • James D. Richardson
... credit, made provision for the public debt, and for that patriotic army whose interests and welfare were always so dear to him; and, by laws wisely framed, and of admirable effect, raised the commerce and navigation of the country, almost at once, from ...
— Washington's Birthday • Various
... 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 for union, that slavery ...
— Continental Monthly, Vol. I, No. VI, June, 1862 - Devoted To Literature and National Policy • Various
... we should be justified in voting for a measure which, if carried out, would add this vast amount to our public debt at a moment when the Treasury was reeling under the enormous ...
— The Great Conspiracy, Complete • John Alexander Logan
... have 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 ...
— Choice Specimens of American Literature, And Literary Reader - Being Selections from the Chief American Writers • Benj. N. Martin
... 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
... made unalterable for the sixteenth part of a century, which substantially deprived the citizens of self-control, nullified their right to suffrage, nullified the principle of representation—which authorized a handful of cunning and resolute robbers to levy taxes, create public debt, and incur municipal liabilities without limit and without check, and which placed at their disposal the revenues of the great municipality and the property ...
— Lights and Shadows of New York Life - or, the Sights and Sensations of the Great City • James D. McCabe
... 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
... 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
... Ducal demesnes, and no power has any right to ask any questions. Even the "Almanack of Gotha," which is generally omniscient in these matters, is silent on the revenues of His Highness. There is a public debt of about one hundred and fifty million marks! The public revenues are the private income of the Grand Duke. The public debt is a private ...
— German Problems and Personalities • Charles Sarolea
... 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 shoulders of ...
— The Monikins • J. Fenimore Cooper |
