“ No nation ought to be without a debt. A national debt is a national bond; and when it bears no interest, is in no case a grievance. ”
Thomas Paine, Common Sense (1776). copy citation
| Author | Thomas Paine |
|---|---|
| Source | Common Sense |
| Topic | interest nation debt bond |
| Date | 1776 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/147/147-h/147-h.htm |
Context
“Such a thought is unworthy a man of honor, and is the true characteristic of a narrow heart and a pedling politician.
113 The debt we may contract doth not deserve our regard if the work be but accomplished. No nation ought to be without a debt. A national debt is a national bond; and when it bears no interest, is in no case a grievance. Britain is oppressed with a debt of upwards of one hundred and forty millions sterling, for which she pays upwards of four millions interest. And as a compensation for her debt, she has a large navy; America is without a debt, and without a navy; yet for the twentieth part of the English national debt, could have a navy as large again.” source
113 The debt we may contract doth not deserve our regard if the work be but accomplished. No nation ought to be without a debt. A national debt is a national bond; and when it bears no interest, is in no case a grievance. Britain is oppressed with a debt of upwards of one hundred and forty millions sterling, for which she pays upwards of four millions interest. And as a compensation for her debt, she has a large navy; America is without a debt, and without a navy; yet for the twentieth part of the English national debt, could have a navy as large again.” source
Meaning and analysis
