The tendency of a national bank is to increase public and private credit. The former gives power to the state, for the protection of its rights and interests: and the latter facilitates and extends the operations of commerce among individuals. Industry is increased, commodities are multiplied, agriculture and manufacturers flourish: and herein consists the true wealth and prosperity of a state.
Interpretation
A national bank boosts both governmental authority and individual commerce, leading to national prosperity.
In this quote, Alexander Hamilton emphasizes the vital role of a national bank in enhancing the financial capabilities of both the government and its citizens. He argues that by increasing public credit, the state gains the means to protect its rights, while enhanced private credit stimulates trade and industry, ultimately contributing to the overall wealth and prosperity of the nation through flourishing agriculture and manufacturing sectors.
In practice
In a speech about economic policies, one might say: 'As Alexander Hamilton noted, a national bank strengthens both public and private credit, which is essential for our nation's prosperity.'
When men, engaged in unjustifiable pursuits, are aware that obstructions may come from a quarter which bare apprehension of opposition from doing what they would with eagerness rush into if no such external impediments were to be feared.
It's not tyranny we desire; it's a just, limited, federal government.
The Achaeans soon experienced, as often happens, that a victorious and powerful ally is but another name for a master.
The people are turbulent and changing; they seldom judge right or make good decision.
The true principle of a republic is that the people should choose whom they please to govern them. Representation is imperfect, in proportion as the current of popular favor is checked. The great source of free government, popular election, should be perfectly pure, and the most unbounded liberty allowed.
Good and wise men, in all ages, have embraced a very dissimilar theory. They have supposed that the deity, from the relations we stand in to himself and to each other, has constituted an eternal and immutable law, which is indispensably obligatory upon all mankind, prior to any human institution whatever. This is what is called the law of nature....Upon this law depend the natural rights of mankind.
No complaint... is more common than that of a scarcity of money.
Let's not only provide a jumpstart to the economy and immediately or save 3 million jobs, but let's also put a down payment on some of the structural problems that we have in our economy.
The Middle East has the highest unemployment percentage of any region in the world we have the largest youth cohort of history coming into the market place that frustration does translate into the political sphere when people are hungry and without jobs.
If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution.
Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark.
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