Our own experience and also that of other nations have demonstrated the unavoidable and fearful rapidity with which a public debt is increased when the Government has once surrendered itself to the ruinous practice of supplying its supposed necessities by new loans.
Van Buren reflects on the rapid increase of public debt when governments resort to new loans for their needs.
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I transmit herewith to the House of Representatives of the United States a report from the Director of the Mint, exhibiting the operations of that institution during the year 1840
I think proper to communicate to the House of Representatives, in further answer to their resolution of the 21st ultimo, the correspondence which has since occurred between the Secretary of State and the British minister on the same…
Our safest reliance for financial efficiency and independence has, on the contrary, been found to consist in ample resources unencumbered with debt...
In compliance with the resolution of the Senate of the 30th December, 1839.
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