Harry V. Jaffa (1918–2015) American historian and collegiate professor
2000s, The Real Abraham Lincoln: A Debate (2002), Rebuttal
“As far as Hamilton, the banks and internal improvements, contrary to Professor DiLorenzo, I think, and several other people have thought, that Hamilton was the greatest Secretary of the Treasury we ever had. The assumption of the debts of the states, and the funding of the debt through the bank produced an enormous prosperity in the country, and this was all done under Washington’s administration. And if you want to speak of Federalists and people supporting the Federalist economic agenda, the first one of them was George Washington.”
2000s, The Real Abraham Lincoln: A Debate (2002), Rebuttal
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American historian and collegiate professor 1918–2015Related quotes
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That the evidences of those private debts, called bank notes, become active capital, and aliment the whole commerce, manufactures, and agriculture of the United States. Here are a set of people, for instance, who have bestowed on us the great blessing of running in our debt about two hundred millions of dollars, without our knowing who they are, where they are, or what property they have to pay this debt when called on; nay, who have made us so sensible of the blessings of letting them run in our debt, that we have exempted them by law from the repayment of these debts beyond a give proportion (generally estimated at one-third). And to fill up the measure of blessing, instead of paying, they receive an interest on what they owe from those to whom they owe; for all the notes, or evidences of what they owe, which we see in circulation, have been lent to somebody on an interest which is levied again on us through the medium of commerce. And they are so ready still to deal out their liberalities to us, that they are now willing to let themselves run in our debt ninety millions more, on our paying them the same premium of six or eight per cent interest, and on the same legal exemption from the repayment of more than thirty millions of the debt, when it shall be called for.
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