On the record
There is no way to pay a debt except by having an income above your expenditures, and you can call your surplus revenue a sinking fund if you choose.
Source
gutenberg.orgEditor's note · Context
Sherman emphasizes the necessity of having an income above expenditures to pay off debt.
Share
More from John Sherman
He took strong ground against the repeal of the Missouri Compromise, and in 1859 was a competitor with me for the position of speaker, but withdrew in my favor after the first ballot.
He theorizes about coercing a state when he should be enforcing the laws against rebellious citizens.
How can we avert a calamity at which humanity and civilization shudder?
Because it is framed upon the idea that it is the duty of the government, in imposing taxes, to do as little injury to the industry of the country as possible; that they are to be levied so as to extend a reasonable protection to all…
Other voices in this conversation
