National Indebtedness

June 7, 1866


Unlike the debt of older nations, the debt of the United States is different. The U.S. is younger, richer in resources with a growing population, and already has financial power. The financial burdens they carry will be resolved shortly as long as they can avoid war.


But the debt of the United States, unlike the debt of the older nations of Europe, is the debt of a young country, rich in every national resource, whose rapidly increasing population and wonderful and continually developed mineral wealth give to her a financial power of immense magnitude now, and which in a short time promises to exceed that of any nation in the world. All she has to do is to avoid causeless wars; and if she can get back to the Washingtonian policy, and avoid entangling alliances, and commit no wrongs she would herself resist, in a few years she will be easy in her money matters, and the burdens imposed on the people may be relaxed.
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Contributed By

Brooke Beam




“National Indebtedness,” Reconstructing Virginia, accessed July 4, 2022,