Because Quote by Oliver Ellsworth
“The power of collecting money from the people is not to be rejected because it has sometimes been oppressive. Public credit is as necessary for the prosperity of a nation as private credit is for the support and wealth of a family.”
About This Quote
Source Speech: Congressional Debates, 1789
Public credit supports national prosperity like private credit sustains families, despite past oppression.
In simple terms: Public loans help a nation grow, like family loans help a household.
Key Takeaway
Support responsible public borrowing.
Themes
economics
public policy
finance
history
government
Mood
cautious
optimistic
Type
analytical
prescriptive
When to use this quote
- government budgeting
- national development
- financial planning
- debt management
- public trust
Key Concepts
credit
national prosperity
private finance
oppression
reform
Questions to Reflect On
- How can we balance public borrowing with fiscal responsibility?
- What safeguards prevent abuse of public credit?
A Different Perspective
Public credit can be misused, leading to inflation or corruption.
