On the record
They constitute a part of the national debt, and should be considered in the refunding and consolidation of this debt, and not on a bill to provide banking facilities.
Source
gutenberg.orgEditor's note · Context
Sumner asserts that certain financial instruments should be treated as part of the national debt in fiscal discussions.
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I am in favor of a tariff for revenue, such a one as will yield a sufficient amount to the treasury to defray the expenses of the government, economically administered.
Men are erring and mortal; principles are steadfast and immortal.
Still further: every ship-of-war that floats costs more than a well-endowed college.
The subterfuges of the politician cannot escape it.
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