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Solvency is maintained by means of a national debt, on the principle, "If you will not lend me the money, how can I pay you?"
--
English Traits (1856), reprinted in The Prose Works of Ralph Waldo Emerson, Vol. 2, (Boston: Fields, Osgood, & Co., 1870), p. 206 (full text at GoogleBooks).

 

Ralph Waldo Emerson

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...ought we to appropriate in the present circumstances of the country 3 millions of money out of the resources and productive capital of the nation, to create an addition to the treasury of the state? Ought we to reduce our public debt by a sacrifice of the funds that maintained national industry? Ought we to deprive the people of 3 millions of capital, which would fructify in their hands much more than in those of government, to pay a portion of our debt?

 

William Ewart Gladstone

 

The so-called inseparable cohesions of national interests vanish away as soon as you draw near to examine them. There are individual interests and a general interest, those two only. When you say "I," it means "I"; when you say "We," it means Man. So long as a single and identical Republic does not cover the world, all national liberations can only be beginnings and signals!

 

Henri Barbusse

 

Money is the creature of law and creation of the original issue of money should be maintained as an exclusive monopoly of national government.… Democracy will rise superior to Money Power.

 

Abraham Lincoln

 

In numerous years following the war the Federal government ran a heavy surplus. It could not pay off it's debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.

 

John Kenneth Galbraith

 

The fact of the modern national States or empires not having originated organically does not prevent their being organs of that great entity which we call civilised humanity, and which is much too extensive to be included in any single State. And, indeed, these organs are at present necessary and of great importance for human development. On this point Socialists can scarcely differ now. And it is not even to be regretted, from the Socialist point of view, that they are not characterised purely by their common descent. The purely ethnological national principle is reactionary in its results. Whatever else one may think about the race-problem, it is certain that the thought of a national division of mankind according to race is anything rather than a human ideal. The national quality is developing on the contrary more and more into a sociological function. But understood as such it is a progressive principle, and in this sense Socialism can and must be national. This is no contradiction of the cosmopolitan consciousness, but only its necessary completion, The world-citizenship, this glorious attainment of civilisation, would, if the relationship to national tasks and rational duties were missing, become a flabby characterless parasitism. Even when we sing "Ubi bene, ibi patria," we still acknowledge a "patria," and, therefore, in accordance with the motto, "No rights without duties"; also duties towards her.

 

Eduard Bernstein