“Foreign debts. About $12,000,000,000 is due to our Government from abroad, mostly from European governments. Great Britain, Finland, Hungary, Lithuania and Poland have negotiated settlements amounting close to $5,000,000,000. This represents the funding of over 42 per cent of the debt since the creation of the special Foreign Debt Commission. As the life of this commission is about to expire, its term should be extended. I am opposed to the cancellation of these debts and believe it for the best welfare of the world that they should be liquidated and paid as fast as possible. I do not favor oppressive measures, but unless money that is borrowed is repaid credit can not be secured in time of necessity, and there exists besides a moral obligation which our country can not ignore and no other country can evade. Terms and conditions may have to conform to differences in the financial abilities of the countries concerned, but the principle that each country should meet its obligation admits of no differences and is of universal application.”

— Calvin Coolidge

1920s, Second State of the Union Address (1924)

Adopted from Wikiquote. Last update June 3, 2021. History

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Calvin Coolidge 412

American politician, 30th president of the United States (i… 1872–1933

Sir John Bayley, 1st Baronet (1763–1841) British judge

Guthrie v. Fisk (1824), 3 B & C. 183.

“Our debts (sins) are cancelled.”

Peter Scazzero (1956) American psychotherapist, author and theologian

Emotionally Healthy Spirituality: It's Impossible to Be Spiritually Mature, While Remaining Emotionally Immature

“No debts. I have very little debt to anybody. I don't need debt. You know, it's very interesting, I'm so liquid, I don't need debt. And if I need debt, if I want debt, I can get it from banks in New York City very easily.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, July, This Week Interview (July 30, 2016)

“Between 1999 and 2004 there was no investment in Australia, it all went into housing and consumption all borrowed on the current account. When Peter Costello runs around saying, 'Oh we've paid off the debt,' it's like the pea and thimble trick. The Government debt or the massive private debt abroad? It's continuing to grow.”

Paul Keating (1944) Australian politician, 24th Prime Minister of Australia

7:30 Report interview, May 8, 2006

“I called myself the king of debt. I'm the king of debt. I'm great with debt, nobody knows debt better than me. I made a fortune by using debt. And if things don't work out I renegotiate the debt, I mean that's a smart thing not a stupid thing. And I made a fortune.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, June

“Now is the time to throw off the yoke, to force renegotiation of oppressive foreign debts”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

Afro-Asian Conference (1965)
Context: Now is the time to throw off the yoke, to force renegotiation of oppressive foreign debts, and to force the imperialists to abandon their bases of aggression.

“The art and mystery of banks… is established on the principle that 'private debts are a public blessing.' 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.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

ME 13:420
1810s, Letters to John Wayles Eppes (1813)

“You go back and you say, hey, guess what, the economy just crashed, I'm going to give you back half. I like debt for me, I don't like debt for the country. I like debt for my company, but I don't like debt for the country. For the country we have $19 trillion in debt, it's going to be very soon $21 trillion, not billion, $21 trillion in debt. And I will tell you we are sitting on a time bomb and Hillary Clinton doesn't have a clue. And President Obama has pretty much doubled the debt since he's been in office and somebody's going to pay a big price. We have to start chopping that debt down. … I wouldn't renegotiate the debt.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, June
Source: In an interview with CBS This Morning Norah O'Donnell http://www.dailywire.com/news/6824/trump-yeah-so-ill-declare-america-bankrupt-james-barrett (June 22, 2016)

“I spoke of the melancholy financial position of Great Britain. Half our foreign investments had been spent in the common cause when we stood alone. There is a great external debt of three thousand million pounds. We should require time to get on our feet again. The President listened closely, attentively and sympathetically. He spoke of the immense debt the Allies owed to Britain for that period when she fought alone. "If you had gone like France," he added, "we might well be fighting the Germans on the American coast at the present time."”

Winston S. Churchill book The Second World War

Churchill's account of his conversation with President Truman (18 July 1945), quoted in Lord Moran, Winston Churchill: The Struggle for Survival, 1940-1965 (London: Sphere, 1968), p. 298
The Second World War (1939–1945)

“We can pay our debts to the past by putting the future in debt to ourselves.”

John Buchan (1875–1940) British politician

Address to the people of Canada on the coronation of George VI (12 May 1937)

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Calvin Coolidge 412

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