America is now working in heavy fetters, and it would probably be better for her to lighten those fetters even though a generation or two should have to pay rather higher taxes.
Walter Bagehot: “America is now working in heavy fetters, and it would probably be better for her to lighten those fetters even though a…”
Editor's note · Context
Bagehot reflects on America's economic constraints and the potential benefits of reducing them, even at a cost.
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But it is natural also that persons used to analyse political institutions should look at these anomalies with a little tenderness and a little interest.
The lessons are good where its primitive assumptions hold, but may be false where those assumptions fail.
I cannot, therefore, join in the full cry against anomalies; in my judgment it may quickly overrun the scent, and so miss what we should be glad to find.
Subject to this saving remark, however, I not only admit, but maintain, that our Constitution is full of curious oddities, which are impeding and mischievous, and ought to be struck out.





