Share on Facebook Share on Twitter Comment on this quote Share via Email Print this Page [161-171] of 171 Debt quotesDebt QuotesDebt Previous 20 quotes I wasn't worth a cent two years ago, and now I owe two million dollars.~ Mark Twain Series 1863-1934 U.S. Gold Certificate - This is to certify that there have been deposited in the treasury of The United States of America [denomination face value, i.e. Ten Dollars] in gold coin payable to the bearer on demand. Series 1886-1963 U.S. Silver Certificate - This certifies that there is on deposit in the treasury of The United States of America [denomination face value, i.e. Ten Dollars] in silver payable to the bearer on demand. Series 1913-1934 Federal Reserve Note - Redeemable in gold on demand at the United States Treasury or in gold or lawful money at any Federal Reserve Bank. Series 1934-1963 Federal Reserve Note - This note is legal tender for all debts public and private and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank. Series 1963- Federal Reserve Note - This note is legal tender for all debts, public and private.~ U. S. Currency The Congress shall have power to lay and collect taxes, duties, imposts and excises to pay the debts and provide for the common defense and general welfare of the United States.~ U.S. Constitution, Article I, Section 8 Emitting bills of credit, or the creation of money by private corporations, is what is expressly forbidden by Article 1, Section 10 of the U.S. Constitution.~ U.S. Supreme Court There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final or total catastrophe of the currency system involved.~ Ludwig von Mises The banks -- commercial banks and the Federal Reserve -- create all the money of this nation and its people pay interest on every dollar of that newly created money. Which means that private banks exercise unconstitutionally, immorally, and ridiculously the power to tax the people. For every newly created dollar dilutes to some extent the value of every other dollar already in circulation.~ Jerry Voorhis We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent.~ James Paul Warburg As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible, avoiding occasions of expense by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it, avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertion in time of peace to discharge the debts which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burden which we ourselves ought to bear. The execution of these maxims belongs to your representatives, but it is necessary that public opinion should co-operate.~ George Washington Avoid occasions of expense ... and avoid likewise the accumulation of debt not only by shunning occasions of expense but by vigorous exertions to discharge the debts, not throwing upon posterity the burden which we ourselves ought to bear.~ George Washington No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or an economy of time more valuable.~ George Washington Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy.~ Walter E. Williams Previous 20 quotes Share on Facebook Tweet Email Print