--- title: "Meaning & Key Takeaway of: It is a well-known fact that in countries…" description: "\"It is a well-known fact that in countries in which the national debt is properly funded, and an object of established confidence, it answers most of th..." image: "https://sms4smile.com/quotes/i/26a/alexander-hamilton-619_answers_it-is-a-well-known-fact-that-in-countrie_150728.jpg" --- # It is a well-known fact that in countries in which the… ![“It is a well-known fact that in countries in which the national debt is properly funded, and an object of established confidence, it answers most of the purposes of money. Transfers of stock, or public debt, are there equivalent to payments in specie; or, in other words, stock, in the principal…” quote by Alexander Hamilton](https://sms4smile.com/quotes/i/26a/alexander-hamilton-619_answers_it-is-a-well-known-fact-that-in-countrie_150728.jpg) [Download](https://sms4smile.com/quotes/i/26a/alexander-hamilton-619_answers_it-is-a-well-known-fact-that-in-countrie_150728.jpg) [Open image](https://sms4smile.com/quotes/i/26a/alexander-hamilton-619_answers_it-is-a-well-known-fact-that-in-countrie_150728.jpg) > “It is a well-known fact that in countries in which the national debt is properly funded, and an object of established confidence, it answers most of the purposes of money. Transfers of stock, or public debt, are there equivalent to payments in specie; or, in other words, stock, in the principal transactions of business, passes current as specie. The same thing would, in all probability, happen here, under the like circumstances.” [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. When a nation’s debt is trusted, it functions like money, facilitating transactions similar to cash. **In simple terms:** Trusted debt works like cash. Key Takeaway Use reliable credit wisely. Themes economics trust money Mood analytical pragmatic Type financial educational When to use this quote - government financing - business transactions Key Concepts public debt as currency financial confidence Questions to Reflect On - How does trust affect debt use? - What are alternatives to debt? A Different Perspective Reliance on debt can be risky. ★ ★ ★ ★ ★ No ratings yet [Answers](https://sms4smile.com/quotes/about/answers/) [Budgets](https://sms4smile.com/quotes/about/budgets/) [Circumstances](https://sms4smile.com/quotes/about/circumstances/) [Confidence](https://sms4smile.com/quotes/about/confidence/) [Country](https://sms4smile.com/quotes/about/country/) [Currents](https://sms4smile.com/quotes/about/currents/) [Debt](https://sms4smile.com/quotes/about/debt/) [Debt Equivalent](https://sms4smile.com/quotes/about/debt-equivalent-1677217/) [Debt Properly](https://sms4smile.com/quotes/about/debt-properly-1677216/) [Facts](https://sms4smile.com/quotes/about/facts/) [Happens](https://sms4smile.com/quotes/about/happens/) [Known](https://sms4smile.com/quotes/about/known/) [Money](https://sms4smile.com/quotes/about/money/) [National debt](https://sms4smile.com/quotes/about/national-debt/) [Objects](https://sms4smile.com/quotes/about/objects/) [Payment](https://sms4smile.com/quotes/about/payment/) [Principal](https://sms4smile.com/quotes/about/principal/) [Probability](https://sms4smile.com/quotes/about/probability/) [Public Debt](https://sms4smile.com/quotes/about/public-debt-448599/) [Purpose](https://sms4smile.com/quotes/about/purpose/) [Purposes Money](https://sms4smile.com/quotes/about/purposes-money-266784/) [Transactions](https://sms4smile.com/quotes/about/transactions/) [Transfers](https://sms4smile.com/quotes/about/transfers/) [Well known](https://sms4smile.com/quotes/about/well-known/) [Wells](https://sms4smile.com/quotes/about/wells/) ## Related quotes > [No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or…](https://sms4smile.com/quotes/george-washington/no-pecuniary-consideration-is-more-urgent-than-the-regular-redemption-2/) [George Washington](https://sms4smile.com/quotes/author/george-washington/) > [The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to…](https://sms4smile.com/quotes/anonymous/the-national-budget-must-be-balanced-the-public-debt-must-be-reduced/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [At the time we were funding our national debt, we heard much about "a public debt being a public blessing"; that the stock representing…](https://sms4smile.com/quotes/thomas-jefferson/at-the-time-we-were-funding-our-national-debt-we-heard-much-about-a/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) > [I go on the principle that a public debt is a public curse and in a republican government more than in any other.](https://sms4smile.com/quotes/james-madison/i-go-on-the-principle-that-a-public-debt-is-a-public-curse-and-in-a/) [James Madison](https://sms4smile.com/quotes/author/james-madison/) > [“Each of us has an individualized perception of the purposes of money, and we have various emotions associated with spendint it.”](https://sms4smile.com/quotes/gary-chapman/each-of-us-has-an-individualized-perception-of-the-purposes-of-money/) [Gary Chapman](https://sms4smile.com/quotes/author/gary-chapman/) > [For mines are for men, not for money. And money is not something to go mad about, and throw your hat into the air…](https://sms4smile.com/quotes/alan-paton/for-mines-are-for-men-not-for-money-and-money-is-not-something-to-go/) [Alan Paton](https://sms4smile.com/quotes/author/alan-paton/) > [There are respectable individuals, who from a just aversion to an accumulation of Public debt, are unwilling to concede to it any kind of…](https://sms4smile.com/quotes/alexander-hamilton/there-are-respectable-individuals-who-from-a-just-aversion-to-an/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [A national debt, if it is not excessive, will be to us a national blessing.](https://sms4smile.com/quotes/alexander-hamilton/a-national-debt-if-it-is-not-excessive-will-be-to-us-a-national-2/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [A national debt if it is not excessive will be to us a national blessing; it will be powerfull cement of our union. It…](https://sms4smile.com/quotes/alexander-hamilton/a-national-debt-if-it-is-not-excessive-will-be-to-us-a-national/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [It is of the greatest consequence that the debt should, with the consent of the creditors, be remoulded into such a shape as will…](https://sms4smile.com/quotes/alexander-hamilton/it-is-of-the-greatest-consequence-that-the-debt-should-with-the/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [The budget should be balanced, the treasury should be refilled, the public debt should be reduced and the arrogance of public officials should be…](https://sms4smile.com/quotes/ross-perot/the-budget-should-be-balanced-the-treasury-should-be-refilled-the/) [Ross Perot](https://sms4smile.com/quotes/author/ross-perot/) > [No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or…](https://sms4smile.com/quotes/george-washington/no-pecuniary-consideration-is-more-urgent-than-the-regular-redemption/) [George Washington](https://sms4smile.com/quotes/author/george-washington/) > [Italy has piled up huge public debt because the successive governments were too close to the life of ordinary citizens, too willing to please…](https://sms4smile.com/quotes/mario-monti/italy-has-piled-up-huge-public-debt-because-the-successive/) [Mario Monti](https://sms4smile.com/quotes/author/mario-monti/) > [“When it comes to decreasing inequalities of wealth for good or reducing unusually high levels of public debt, a progressive tax on capital is…](https://sms4smile.com/quotes/thomas-piketty/when-it-comes-to-decreasing-inequalities-of-wealth-for-good-or/) [Thomas Piketty](https://sms4smile.com/quotes/author/thomas-piketty/) > [Higher projected corporate and personal income tax receipts and lower public debt charges.](https://sms4smile.com/quotes/ralph-goodale/higher-projected-corporate-and-personal-income-tax-receipts-and-lower/) [Ralph Goodale](https://sms4smile.com/quotes/author/ralph-goodale/) ## More by Alexander Hamilton > [“I am apprehensive, Sir, that in the warmth of my feelings, I may have uttered expressions, which were too vehement. If such has been…](https://sms4smile.com/quotes/alexander-hamilton/i-am-apprehensive-sir-that-in-the-warmth-of-my-feelings-i-may-have/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [“The truth unquestionably is, that the only path to a subversion of the republican system of the Country is, by flattering the prejudices of…](https://sms4smile.com/quotes/alexander-hamilton/the-truth-unquestionably-is-that-the-only-path-to-a-subversion-of-the/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [ \[W\]ar is a question, under our constitution, not of Executive, but of Legislative cognizance. It belongs to Congress to say whether the Nation shall… ](https://sms4smile.com/quotes/alexander-hamilton/w-ar-is-a-question-under-our-constitution-not-of-executive-but-of/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [It will be of little avail to the people, that the laws are made by men of their own choice, if the laws be…](https://sms4smile.com/quotes/alexander-hamilton/it-will-be-of-little-avail-to-the-people-that-the-laws-are-made-by/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [Though a wide ocean separates the United States from Europe, yet there are various considerations that warn us against an excess of confidence or…](https://sms4smile.com/quotes/alexander-hamilton/though-a-wide-ocean-separates-the-united-states-from-europe-yet-there/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [It is an unquestionable truth, that the body of the people in every country desire sincerely its prosperity. But it is equally unquestionable that…](https://sms4smile.com/quotes/alexander-hamilton/it-is-an-unquestionable-truth-that-the-body-of-the-people-in-every/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [There are still to be found visionary or designing men, who stand ready to advocate the paradox of perpetual peace between the states, though…](https://sms4smile.com/quotes/alexander-hamilton/there-are-still-to-be-found-visionary-or-designing-men-who-stand/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [ It is one thing to be subordinate to the laws, and another \[for the Executive\] to be dependent on the legislative body. The first… ](https://sms4smile.com/quotes/alexander-hamilton/it-is-one-thing-to-be-subordinate-to-the-laws-and-another-for-the/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [Man is very much a creature of habit. A thing that rarely strikes his senses will generally have but little influence upon his mind.…](https://sms4smile.com/quotes/alexander-hamilton/man-is-very-much-a-creature-of-habit-a-thing-that-rarely-strikes-his/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [Money is, with propriety, considered as the vital principle of the body politic; as that which sustains its life and motion, and enables it…](https://sms4smile.com/quotes/alexander-hamilton/money-is-with-propriety-considered-as-the-vital-principle-of-the-body/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [The nation which can prefer disgrace to danger is prepared for a master and deserves one.](https://sms4smile.com/quotes/alexander-hamilton/the-nation-which-can-prefer-disgrace-to-danger-is-prepared-for-a/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [A government, the constitution of which renders it unfit to be trusted with all the powers which a free people ought to delegate to…](https://sms4smile.com/quotes/alexander-hamilton/a-government-the-constitution-of-which-renders-it-unfit-to-be-trusted/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [The Liberty of the press consists in the right to publish with impunity truth with good motives for justifiable ends, though reflecting on government,…](https://sms4smile.com/quotes/alexander-hamilton/the-liberty-of-the-press-consists-in-the-right-to-publish-with/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [You should not have taken advantage of my sensibility to steal into my affections without my consent.](https://sms4smile.com/quotes/alexander-hamilton/you-should-not-have-taken-advantage-of-my-sensibility-to-steal-into/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [As you sometimes swear by him that made you, I conclude your sentiments do not correspond with his, in that which is the basis…](https://sms4smile.com/quotes/alexander-hamilton/as-you-sometimes-swear-by-him-that-made-you-i-conclude-your/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) [Explore all 443 Alexander Hamilton quotes ](https://sms4smile.com/quotes/author/alexander-hamilton/) ## More Answers quotes > [The one thing that I keep learning over and over again is that I don't know nothing. I mean, that's my life lesson.](https://sms4smile.com/quotes/dwayne-johnson/the-one-thing-that-i-keep-learning-over-and-over-again-is-that-i-don/) [Dwayne Johnson](https://sms4smile.com/quotes/author/dwayne-johnson/) > [Sometimes a question can hurt more than an answer.](https://sms4smile.com/quotes/sarah-dessen/sometimes-a-question-can-hurt-more-than-an-answer/) [Sarah Dessen](https://sms4smile.com/quotes/author/sarah-dessen/) > [You feed yourself. Make sure you have all the information, whether it's aesthetic, scientific, mathematical, I don't care what it is. Then you walk…](https://sms4smile.com/quotes/ray-bradbury/you-feed-yourself-make-sure-you-have-all-the-information-whether-it-s/) [Ray Bradbury](https://sms4smile.com/quotes/author/ray-bradbury/) > [I have long felt that the way to keep children out of trouble is to keep them interested in things. Lecturing to children is…](https://sms4smile.com/quotes/walt-disney/i-have-long-felt-that-the-way-to-keep-children-out-of-trouble-is-to/) [Walt Disney](https://sms4smile.com/quotes/author/walt-disney/) > [Let me tell you that atheism has never painted a masterpiece. Atheism has never dispelled fear. Atheism has never healed a disease; faith in…](https://sms4smile.com/quotes/john-hagee/let-me-tell-you-that-atheism-has-never-painted-a-masterpiece-atheism/) [John Hagee](https://sms4smile.com/quotes/author/john-hagee/) > [“As long as you keep searching,the answers will come.”](https://sms4smile.com/quotes/mitch-kynock/as-long-as-you-keep-searching-the-answers-will-come/) [Mitch Kynock](https://sms4smile.com/quotes/author/mitch-kynock/) > [The answer to deep anxiety is the deep adoration of God.](https://sms4smile.com/quotes/ann-voskamp/the-answer-to-deep-anxiety-is-the-deep-adoration-of-god/) [Ann Voskamp](https://sms4smile.com/quotes/author/ann-voskamp/) > [A dialogue is very important. It is a form of communication in which question and answer continue till a question is left without an…](https://sms4smile.com/quotes/jiddu-krishnamurti/a-dialogue-is-very-important-it-is-a-form-of-communication-in-which/) [Jiddu Krishnamurti](https://sms4smile.com/quotes/author/jiddu-krishnamurti/) > [There is a comfort in rituals, and rituals provide a framework for stability when you are trying to find answers.](https://sms4smile.com/quotes/deborah-norville/there-is-a-comfort-in-rituals-and-rituals-provide-a-framework-for/) [Deborah Norville](https://sms4smile.com/quotes/author/deborah-norville/) > [A religious person answers to God, not to the elected or non-elected official.](https://sms4smile.com/quotes/elie-wiesel/a-religious-person-answers-to-god-not-to-the-elected-or-non-elected/) [Elie Wiesel](https://sms4smile.com/quotes/author/elie-wiesel/) > [Let us remember that every worldview-not just Christianity's-must give an explanation or an answer for evil and suffering...this is not just a problem distinctive…](https://sms4smile.com/quotes/ravi-zacharias/let-us-remember-that-every-worldview-not-just-christianity-s-must/) [Ravi Zacharias](https://sms4smile.com/quotes/author/ravi-zacharias/) > [Instead of asking a girl how she feels, try looking through her recently listened to songs. The lyrics are the answer to all your…](https://sms4smile.com/quotes/anonymous/instead-of-asking-a-girl-how-she-feels-try-looking-through-her/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [For someone to ask 'Who did you play for' and to be able to answer a single name 'Liverpool' that would be brilliant...I don't…](https://sms4smile.com/quotes/jamie-carragher/for-someone-to-ask-who-did-you-play-for-and-to-be-able-to-answer-a/) [Jamie Carragher](https://sms4smile.com/quotes/author/jamie-carragher/) > [When the first Superman movie came out I was frequently asked "What is a hero?" ...My answer was that a hero is someone who…](https://sms4smile.com/quotes/christopher-reeve/when-the-first-superman-movie-came-out-i-was-frequently-asked-what-is/) [Christopher Reeve](https://sms4smile.com/quotes/author/christopher-reeve/) > [Enjoying life isn't about finding the answers, but living the questions.](https://sms4smile.com/quotes/sue-margolis/enjoying-life-isn-t-about-finding-the-answers-but-living-the-questions/) [Sue Margolis](https://sms4smile.com/quotes/author/sue-margolis/) [Browse all 7,843 Answers quotes ](https://sms4smile.com/quotes/about/answers/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "It is a well-known fact that in countries in which the national debt is properly funded, and an object of established confidence, it answers most of the purposes of money. 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