For several years past the revenues of the government have been unequal to its expenditures, and consequently loan after loan, sometimes direct and sometimes indirect in form, has been resorted to. By this means a new national debt has been created, and is still growing on us with a rapidity fearful to contemplate—a rapidity only reasonably to be expected in a time of war. This state of things has been produced by a prevailing unwillingness either to increase the tariff or resort to direct taxation. But the one or the other must come. Coming expenditures must be met, and the present debt must be paid; and money cannot always be borrowed for these objects. The system of loans is but temporary in its nature, and must soon explode. It is a system not only ruinous while it lasts, but one that must soon fail and leave us destitute. As an individual who undertakes to live by borrowing soon finds his original means devoured by interest, and, next, no one left to borrow from, so must it be with a government. We repeat, then, that a tariff sufficient for revenue, or a direct tax, must soon be resorted to; and, indeed, we believe this alternative is now denied by no one. Abraham Lincoln

BACK · NEXT

Views: 312

Quotes Tags: For · several · years · past · the · revenues · of · the · government · have · been · unequal · to · its · expenditures · · and · consequently · loan · after · loan · · sometimes · direct · and · sometimes · indirect · in · form · · has · been · resorted · to · · By · this · means · a · new · national · debt · has · been · created · · and · is · still · growing · on · us · with · a · rapidity · fearful · to · contemplate—a · rapidity · only · reasonably · to · be · expected · in · a · time · of · war · · This · state · of · things · has · been · produced · by · a · prevailing · unwillingness · either · to · increase · the · tariff · or · resort · to · direct · taxation · · But · the · one · or · the · other · must · come · · Coming · expenditures · must · be · met · · and · the · present · debt · must · be · paid · · and · money · cannot · always · be · borrowed · for · these · objects · · The · system · of · loans · is · but · temporary · in · its · nature · · and · must · soon · explode · · It · is · a · system · not · only · ruinous · while · it · lasts · · but · one · that · must · soon · fail · and · leave · us · destitute · · As · an · individual · who · undertakes · to · live · by · borrowing · soon · finds · his · original · means · devoured · by · interest · · and · · next · · no · one · left · to · borrow · from · · so · must · it · be · with · a · government · · We · repeat · · then · · that · a · tariff · sufficient · for · revenue · · or · a · direct · tax · · must · soon · be · resorted · to · · and · · indeed · · we · believe · this · alternative · is · now · denied · by · no · one · · Abraham · Lincoln · ·

Bereshit · Shemot · Vayikra · Bamidbar · Devarim · Pirkei Avot · Mishlei · Kohelet · Song of Solomon · Adam · Noah · Moses · Yehoshua · Abraham · Isaac · Jacob · Rabbi · Sophocles · Seneca · Samuel · David · Solomon · Steve Jobs · Muhammad · Sergey Brin · Larry Page · William Shakespeare · Tim Berners-Lee · Linda Green · George R.R. Martin · Nikola Tesla · Paula Hawkins · Fearne Cotton · Oscar Wild · Agatha Christie · Barbara Cartland · Danielle Steel · Harold Robbins · Georges Simenon · Sidney Sheldon · Enid Blyton · Dr. Seuss · Gilbert Patten · J. K. Rowling · Jack London · Donald Trump · Melania Trump · Jared Kushner · Ivanka Trump · Woody Allen · Peta Murgatroyd · Kyrie Irving · Alicia Keys · Justin Timberlake · Rihanna · George Clooney · Jenny Slate · Roger Federer · Selena Gomez · Giancarlo Stanton · Lea Michele · Brad Pitt · Scarlett Johansson · Rael · Winston Churchill · Abraham Lincoln · Marilyn Monroe · Martin Luther King · Walt Disney · Ludwig Beethoven · Stephen King · Henry Ford · John Lennon · Ernest Hemingway · Bill Gates · Richard Branson · Jesus · Aristotle · Socrates · Plato · Mark Zuckerberg · Albert Einstein · Pele · Justin Bieber · Taylor Swift · Elohim · James Madison · Yeshua · Bill Clinton · Hillary Clinton · Eyal Ofer · Morris Kahn · Rudyard Kipling · Arnold Schwarzenegger · Freeman · Mark Twain · Robert Holden · Susan Wojcicki · Benjamin Franklin · Anthony Joshua · Marcus Lehmann · Charles Darwin · Elvis Presley · Christopher Columbus · Queen Victoria · Queen Elizabeth · Leonardo da Vinci · Pablo Picasso · Thomas Edison · Vincent Van Gogh · Michael Jordon · Sigmund Freud · David Beckham · Prince Charles · Billie Jean King · Anne Frank · Marie Antoinette · Cristiano Ronaldo · Lech Walesa · Shakira · Roman Abramovich · Tom Cruise · George Clooney · Paul Krugman · Kylie Minogue · Jimmy Wales · Brad Pitt · Confucius · Prince William · Kate Middleton · Michael Bloomberg · Vladimir Putin · Dmitry Medvedev · Lenin · Bashar Assad · Warren Buffett · Xi Jinping · Jojo Moyes · Bruce Lee · Honore de Balzac · Antoine de Saint-Exupery · Amy Grant · Elie Wiesel · Elana Yael Heideman · Li Ching Yuen · Sholom Aleichem · Yitzhak Yosef · London Grammar · Benjamin Netanyahu · Shimon Peres · Jeff Bezos ·