For, when the credit of a country is in any degree…
“For, when the credit of a country is in any degree questionable, it never fails to give on extravagant premium, in one shape or another, upon all the loans it has occasion to make. Nor does the evil end here; the same disadvantage must be sustained upon whatever is to be bought on terms of future payment. From this constant necessity of borrowing and buying dear, it is easy to conceive how immensely the expenses of a nation, in a course of time, will be augmented by an unsound state of the public credit.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Excessive borrowing and costly credit damage a nation's finances over time.
In simple terms: Borrowing too much harms a country.
Key Takeaway
Control debt and avoid expensive loans.
Themes
economics
public finance
national debt
Mood
cautious
analytical
Type
political
economic
When to use this quote
- government budgeting
- corporate finance
- personal loans
- investment decisions
Key Concepts
credit risk
inflation
fiscal policy
Questions to Reflect On
- How can a nation balance growth and debt?
- What safeguards prevent credit abuse?
A Different Perspective
Short‑term fixes can worsen long‑term debt.