The idea that such a debt is to become permanent should be at all times discarded as involving taxation too heavy to be borne, and payment once in every sixteen years, at the present rate of interest, of an amount equal to the original sum.
Johnson argues against the idea of a permanent national debt, warning of heavy taxation consequences.
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The orders issued by me upon this subject are in accordance with long-established usage and hitherto unquestioned authority.
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