Being a new country, she ought in her times of financial want to borrow of old countries; but the old countries were frightened by the probable issue of unlimited inconvertible paper, and they would not lend a shilling.
Bagehot discusses the challenges America faced in borrowing during financial crises due to fears of paper currency.
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In early society, originality in life was forbidden and repressed by the fixed rule of life.
Savages waste away before modern civilisation; they seem to have held their ground before the ancient.
The whole history of civilisation, is strewn with creeds and institutions which were invaluable at first, and deadly afterwards.
He gave an excellent moral example to his contemporaries, but he is an instance of those whose good dies with them, while their evil lives after them.
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