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.
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
There is no doubt that as an economy grows in a great way like India has, that you have to step back and change your tax systems, because you start to get more disparities of wealth.
No country, however rich, can afford the waste of its human resources. Demoralization caused by vast unemployment is our greatest extravagance. Morally, it is the greatest menace to our social order.
The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.
After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. Β By comparison, the average real income of the other 95% of households grew less than 10%.
If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: It will be what Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.
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