Publisher's Synopsis
Excerpt from The Organization of the Public Debt and a Plan: For the Relief of the Treasury
It is the object of the writer to show that, whatever may be the debt of the nation, alarm and apprehension concerning it are without just grounds; that the bruited insolvency which disturbs our fancy is utterly a fiction; that the helplessness of the treasury management does not arise from any insuperable difficulty in our circumstances, but from a false theory of the debt entertained by those to Whom it is intrusted; and that the evils with which they threaten the country, by fastening upon it an irredeemable paper currency, are far more serious in their character and scope than those which they expect to remove.
If we assume, as a basis for our illustration, that the possi ble debt of the nation will be four thousand millions of dollars, we shall, Without doubt, cover all its extreme perils. It is to be considered with reference to the ability of the country to carry and pay it.
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