On the record
Debt, debt abroad, is the only element that can, with always a sound currency, enter into our affairs to cause any continued depression in the industries and prosperity of our people.
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gutenberg.orgUlysses S. Grant: “Debt, debt abroad, is the only element that can, with always a sound currency, enter into our affairs to cause any…”
Editor's note · Context
Grant identifies foreign debt as a potential cause of continued economic depression.
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