I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country.
Andrew Jackson, Sam B. Smith, Harriet Fason Chappell Owsley, Harold D. Moser (1996). “The Papers of Andrew Jackson: 1821-1824”, p.399, Univ. of Tennessee Press
