The right hon. gentleman had urged, as one 331 objection to the application of the surplus of five millions as a sinking fund, that it was taking that sum from the people, which would fructify to the national advantage, in their pockets, much more than in the reduction of the debt.
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William Huskisson (28 February, 1823).William Ewart Gladstone
» William Ewart Gladstone - all quotes »
...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
It was one of the great errors of Mr. Pitt's system, that the people should be taxed to buy up a debt standing at four or five per cent interest, when it was clear that that money, if left to fructify in the pockets of the people, would be productive of infinitely more benefit to the country.
William Ewart Gladstone
[Money should] fructify in the pockets of the people.
William Ewart Gladstone
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 gentleman has not seen how to reply to this, otherwise than by supposing me to have advanced the doctrine that a national debt is a national blessing.
Daniel Webster
Gladstone, William Ewart
Glanville, Jerry
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