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Home > Art, Film & Photography > Speech of the Hon. William Smith, of South Carolina; In the Senate of the United States, on the Bill Making Appropriation for Internal
Speech of the Hon. William Smith, of South Carolina; In the Senate of the United States, on the Bill Making Appropriation for Internal

Speech of the Hon. William Smith, of South Carolina; In the Senate of the United States, on the Bill Making Appropriation for Internal


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: We are told by some gentlemen, they are pleased with this system, and wish it to be carried on upon an enlarged plan, because it deve- lopes the resources of your country, and facilitates your commercial intercourse, and prepare you for war during peace. Others say, without it, you cannot dispose of your surplus revenue. And they tell us so, with a perfect knowledge of a public debt of 70,000,000 dollars, hanging over our heads; a great proportion of which, is the debt created for the support of your revolutionary war, more than fifty years ago. But some of your most sage and experienced statesmen of the present day, have recently discovered, that a national debt is a national blessing. They tell you, were you to pay off your national debt, you would throw too large a quantity of money into circulation; and this is given as a reason for going on with the system of roads and canals. But how fallacious is the argument? If you are to expend your revenue in constructing roads and canals, and lavish it away upon undertakers and idle Engineers, will it not throw your money as much into circulation, as it would were you to pay it to your public creditors 1 And can it be material, as to its effect, through what channel it goes into circulation ? This argument is about as well founded as any other that has been offered in support of this system. Your national debt will be a national blessing to contractors and undertakers of your roads and canals, who will share largely in the spoil; and it will be a blessing to your money lenders, to speculators, to brokers, and to stock-jobbers, whose trade it is to watch over the misfortunes of the rest of the comniunty, and take advantage of their adversities, but will prove a national curse to the morals of the people of this Government, and bankrupt...


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Product Details
  • ISBN-13: 9781458849021
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 229 mm
  • No of Pages: 30
  • Spine Width: 2 mm
  • Width: 152 mm
  • ISBN-10: 1458849023
  • Publisher Date: 14 Oct 2010
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 59 gr


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Speech of the Hon. William Smith, of South Carolina; In the Senate of the United States, on the Bill Making Appropriation for Internal
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Speech of the Hon. William Smith, of South Carolina; In the Senate of the United States, on the Bill Making Appropriation for Internal
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