--- title: "Meaning & Key Takeaway of: It was not always the case, of course…" description: "\"“It was not always the case, of course, that navies paid for themselves. In wartime, costs often exceeded revenues, and those deficits grew over time a..." image: "https://sms4smile.com/quotes/i/124/max-boot-4274_time_it-was-not-always-the-case-of-course-tha_1178390.jpg" --- # It was not always the case, of course, that navies paid… ![“It was not always the case, of course, that navies paid for themselves. In wartime, costs often exceeded revenues, and those deficits grew over time as fleets and armies got bigger. But this was hardly an insurmountable obstacle for the most dynamic economies in the world. The United Provinces and…” quote by Max Boot](https://sms4smile.com/quotes/i/124/max-boot-4274_time_it-was-not-always-the-case-of-course-tha_1178390.jpg) [Download](https://sms4smile.com/quotes/i/124/max-boot-4274_time_it-was-not-always-the-case-of-course-tha_1178390.jpg) [Open image](https://sms4smile.com/quotes/i/124/max-boot-4274_time_it-was-not-always-the-case-of-course-tha_1178390.jpg) > ““It was not always the case, of course, that navies paid for themselves. In wartime, costs often exceeded revenues, and those deficits grew over time as fleets and armies got bigger. But this was hardly an insurmountable obstacle for the most dynamic economies in the world. The United Provinces and England were able to borrow all they needed to underwrite their defense budgets. The pressures of war gave a powerful impetus to the growth of stocks, bonds, loans, and paper currencies during the late seventeenth and early eighteenth centuries and helped to turn Amsterdam and then London into international financial centers. To take one example, the Bank of England was established in 1694 to raise funds to allow England to wage war against France.”” [Max Boot](https://sms4smile.com/quotes/author/max-boot/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Historically, navies were funded by borrowing, especially during wars, turning financial markets into war financing engines and establishing institutions like the Bank of England. **In simple terms:** Navies were funded by debt, spurring financial growth. Key Takeaway Understand how war drives financial innovation. Themes war finance debt economic growth Mood historical analytical Type educational strategic When to use this quote - defense budgeting - financial market development - government borrowing - economic policy Key Concepts history political economy Questions to Reflect On - How does wartime borrowing shape modern economies? - What are the limits of debt‑financed defense? A Different Perspective Reliance on debt can create long‑term fiscal risk. ★ ★ ★ ★ ★ No ratings yet [Centuries Helped](https://sms4smile.com/quotes/about/centuries-helped-3446164/) [Navies Paid](https://sms4smile.com/quotes/about/navies-paid-3446162/) [Paid Wartime](https://sms4smile.com/quotes/about/paid-wartime-1208161/) [Pressures War](https://sms4smile.com/quotes/about/pressures-war-3446165/) [Time](https://sms4smile.com/quotes/about/time/) [Wartime Costs](https://sms4smile.com/quotes/about/wartime-costs-3446163/) ## Related quotes > [It seems sensible to me that we should look to the medical profession, that over the centuries has helped us to live longer and…](https://sms4smile.com/quotes/terry-pratchett/it-seems-sensible-to-me-that-we-should-look-to-the-medical-profession/) [Terry Pratchett](https://sms4smile.com/quotes/author/terry-pratchett/) > [Wars are not paid for in wartime, the bill comes later.](https://sms4smile.com/quotes/benjamin-franklin/wars-are-not-paid-for-in-wartime-the-bill-comes-later/) [Benjamin Franklin](https://sms4smile.com/quotes/author/benjamin-franklin/) > [“Conception is the beginning of human life. 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The pressures of war gave a powerful impetus to the growth of stocks, bonds, loans, and paper currencies during the late seventeenth and early eighteenth centuries and helped to turn Amsterdam and then London into international financial centers. 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