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Alexander Hamilton Quotes - Page 16

It is presumable that no country will be able to borrow of foreigners upon better terms than the United States, because none can, perhaps, afford so good security.

It is presumable that no country will be able to borrow of foreigners upon better terms than the United States, because none can, perhaps, afford so good security.

United States. Department of the Treasury, Alexander Hamilton (1828). “Reports of the Secretary of the Treasury of the United States, Prepared in Obedience to the Act of the 10th May, 1800: ... to which are Prefixed, the Reports of Alexander Hamilton, on Public Credit, on a National Bank, on Manufactures, and on the Establishment of a Mint ... Printed by Order of the Senate of the United States”, p.16

As on the one hand, the necessity for borrowing in particular emergencies cannot be doubted, so on the other, it is equally evident that to be able to borrow upon good terms, it is essential that the credit of a nation should be well established.

Alexander Hamilton, John Church Hamilton (1850). “The Works of Alexander Hamilton: Miscellanies, 1789-1795: France; Duties on imports; National bank; Manufactures; Revenue circulars; Reports on claims, etc”, p.2

For, when the credit of a country is in any degree questionable, it never fails to give on extravagant premium, in one shape or another, upon all the loans it has occasion to make. Nor does the evil end here; the same disadvantage must be sustained upon whatever is to be bought on terms of future payment. From this constant necessity of borrowing and buying dear, it is easy to conceive how immensely the expenses of a nation, in a course of time, will be augmented by an unsound state of the public credit.

United States. Department of the Treasury, Alexander Hamilton (1828). “Reports of the Secretary of the Treasury of the United States, Prepared in Obedience to the Act of the 10th May, 1800: ... to which are Prefixed, the Reports of Alexander Hamilton, on Public Credit, on a National Bank, on Manufactures, and on the Establishment of a Mint ... Printed by Order of the Senate of the United States”, p.3

The propriety of a law, in a constitutional light, must always be determined by the nature of the powers upon which it is founded.

Alexander Hamilton, James Madison, John Jay (1842). “The Federalist, on the New Constitution, Written in the Year 1788”, p.144