On the record
This begot a spirit of speculation involving an extravagance and luxury not required for the happiness or prosperity of a people, and involving, both directly and indirectly, foreign indebtedness.
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gutenberg.orgUlysses S. Grant: “This begot a spirit of speculation involving an extravagance and luxury not required for the happiness or prosperity of…”
Editor's note · Context
Grant warns that speculation and luxury can lead to unnecessary foreign indebtedness.
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