Let every man, every corporation, and especially let every…
“Let every man, every corporation, and especially let every village, town, and city, every county and State, get out of debt and keep out of debt. It is the debtor that is ruined by hard times.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Avoiding debt protects individuals and communities from financial ruin during economic downturns.
In simple terms: Debt leads to ruin in hard times.
Key Takeaway
Stay debt‑free to safeguard stability.
Themes
financial responsibility
economic resilience
community health
Mood
cautious
pragmatic
Type
advice
policy.
When to use this quote
- personal budgeting
- municipal finance
- business planning
- public policy
- family finance
Key Concepts
fiscal prudence
risk management
social stability
Questions to Reflect On
- How can you reduce existing debt responsibly?
- What safeguards protect against necessary borrowing?
A Different Perspective
Debt can also fund productive investment if managed wisely.