On the record
The consequences arising from the continual accumulation of public debts in other countries ought to admonish us to be careful to prevent their growth in our own.
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John Adams
Source
gutenberg.orgJohn Adams: “The consequences arising from the continual accumulation of public debts in other countries ought to admonish us to be…”
Editor's note · Context
He warns against the dangers of accumulating public debts, drawing lessons from other countries' experiences.
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On the contrary, to extend and invigorate them is our true policy.
Under this view of our affairs, I should hold myself guilty of a neglect of duty if I forbore to recommend that we should make every exertion to protect our commerce and to place our country in a suitable posture of defense as the only…
In short, commerce has made this country what it is, and it can not be destroyed or neglected without involving the people in poverty and distress.
The national defense must be provided for as well as the support of Government; but both should be accomplished as much as possible by immediate taxes, and as little as possible by loans.