Almighty and eternal Lord God, the great Creator of heaven and earth, and the God and Father of our Lord Jesus Christ; look down from heaven in pity and compassion upon me thy servant, who humbly prostrate myself before thee.
George WashingtonRead
No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or an economy of time more valuable.
Interpretation
The timely repayment of public debt is crucial to the nation's financial health.
In this quote, George Washington emphasizes the importance of managing public debt effectively. He argues that failing to address the repayment of debt can have serious negative consequences for the nation's economy and governance, highlighting that efficiency and promptness in financial matters are essential for the countryβs stability and prosperity.
In practice
Using this quote in a speech about responsible fiscal policy can underscore the significance of timely debt management.
Almighty and eternal Lord God, the great Creator of heaven and earth, and the God and Father of our Lord Jesus Christ; look down from heaven in pity and compassion upon me thy servant, who humbly prostrate myself before thee.
If, in the opinion of the people, the distribution or modification of the constitutional powers be in any particular wrong, let it be corrected by an amendment in the way which the Constitution designates. But let there be no change by usurpation; for though this, in one instance, may be the instrument of good, it is the customary weapon by which free governments are destroyed.
The duty of holding a Neutral conduct may be inferred, without any thing more, from the obligation which justice and humanity impose on every nation, in cases in which it is free to act, to maintain inviolate the relations of Peace and amity toward other Nations.
We began a contest for liberty ill provided with the means for the war, relying on our patriotism to supply the deficiency. We expected to encounter many wants and distressed we must bear the present evils and fortitude
What is most important of this grand experiment, the United States? Not the election of the first president but the election of its second president. The peaceful transition of power is what will separate this country from every other country in the world.
Perseverance and spirit have done wonders in all ages.
Thousands of important and intelligent men have never been able to grasp the principle of comparative advantage or believe it even after it was explained to them
We can fight the global economy with a strong local economy.
If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences.
True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.
Firms don't just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how wage cuts would affect the behavior of the employees. Would they quit or feel dissatisfied and work less hard on the firm's behalf if they feel that wage policies are unfair?
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