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Quotation from Hamilton's Reports and Opinion on the Bank by Alexander Hamilton
“the creation of debt should always be accompanied with the means of extinguishment. This he regards as the true secret for rendering public credit immortal.”
Hamilton's Reports and Opinion on the Bank, First Report on the Public Credit (1790) (Lodge, Works of Alexander Hamilton (Federal Edition, 1904), vol. 2)
Hamilton distances himself from the claim that public debts are public benefits and proposes a sinking fund as a fundamental maxim.
Citation: "the creation of debt should always be accompanied with the means of extinguishment. This he regards as the true secret for rendering public credit immortal." — Alexander Hamilton, Hamilton's Reports and Opinion on the Bank, First Report on the Public Credit (1790) (Lodge, Works of Alexander Hamilton (Federal Edition, 1904), vol. 2). (id hamiltons-reports-and-opinion-on-the-bank-q3)
Portrait: Google Arts Project - Alexander Hamilton (1792 portrait) by John Trumbull, John Trumbull, Public domain.
