The National Debt Financially Considered

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Groombridge and sons, 1859 - 188 sider
 

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Side 119 - At every stage in the growth of that debt the nation has set up the same cry of anguish and despair. At every stage in the growth of that debt it has been seriously asserted by wise men that bankruptcy and ruin were at hand. Yet still the debt went on growing; and still bankruptcy and ruin were as remote as ever.
Side 45 - In this popular sense therefore labour, like commodities, may be said to have a real and a nominal price. Its real price may be said to consist in the quantity of the necessaries and conveniences of life which are given for it ; its nominal price, in the quantity of money. The labourer is rich or poor, is well or ill rewarded, in proportion to the real not to the nominal price of his labour.
Side 179 - ... noblest inheritance which any people have ever enjoyed upon objects of doubtful constitutionality or expediency, would be to violate one of the most important trusts ever committed to any people. Whilst I do not deny to Congress the power, when acting...
Side 179 - They ought to be administered mainly with a view of promoting this wise and benevolent policy. In appropriating them for any other purpose we ought to use even greater economy than if they had been converted into money and the proceeds were already in the public Treasury. To squander away this richest and noblest inheritance which any people have ever enjoyed upon objects of doubtful constitutionality or expediency would be to violate one of the most important trusts ever committed to any people.
Side 170 - From the very brink of the river there rises a gentle slope of green-sward, crowned in many places with a plentiful growth of birch, poplar, beech, elm, and oak. Is it too much for the eye of philanthropy to discern through the vista of futurity this noble stream, connecting, as it does, the fertile shores of two spacious lakes, with crowded steamboats on its bosom and populous towns on its borders?
Side 170 - Woods is," says Sir George Simpson, " in more than one respect, decidedly the finest stream in the whole route. From Fort Frances downwards, a stretch of nearly a hundred miles, it is not interrupted by a single impediment, while yet the current is not strong enough materially to retard an ascending traveller. Nor are the banks...
Side 104 - That the Sum thenceforth annually applicable to the Reduction of the National Debt of the United Kingdom sLall be the sum which shall appear to be the amount of the whole actual annual surplus Revenue, beyond the expenditure...
Side 120 - ... on growing ; and still bankruptcy and ruin were as remote as ever. When the great contest with Lewis the Fourteenth was finally terminated by the Peace of Utrecht the nation owed about fifty millions ; and that debt was considered, not merely by the rude multitude, not merely by foxhunting squires and coffeehouse orators, but by acute and profound thinkers, as an incumbrance which would permanently cripple the body politic.
Side 179 - Speculation has, of late years, prevailed to a ' great extent in the public lands. The consequence ' has been that large portions of them have become ' the property of individuals and companies, and ' thus the price is greatly enhanced to those who ' desire to purchase for actual settlement. In order ' to limit the area of speculation as much as possible, ' the extinction of the Indian title, and the extension CHAP. in. ' of the public surveys, ought only to keep pace with American ' the tide of...
Side 92 - I. which established this fund, are, " All the " monies to arise from time to time, as " well of the excess and surplus of an act " made this session for redeeming the funds * of the Bank of England; and of the ex...

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