I go on the principle that a public debt is a public curse and in a republican government more than in any other.
James MadisonRead
I regret, as much as any member, the unavoidable weight and duration of the burdens to be imposed; having never been a proselyte to the doctrine, that public debts are public benefits. I consider them, on the contrary, as evils which ought to be removed as fast as honor and justice will permit.
Interpretation
What this quote means
James Madison expresses his disapproval of public debt, arguing it is a burden that should be eliminated.
In this quote, James Madison reflects on the heavy burden of public debt, which he believes is detrimental rather than beneficial for society. He emphasizes that, despite the challenges it presents, the process of eliminating public debt should be pursued with honor and justice, indicating a moral imperative to strive for financial integrity and accountability in government.
Themes
Public DebtBurdenHonorJusticeEvils
In practice
Example use cases
In a discussion on national finance, one could quote Madison to emphasize the importance of managing public debt responsibly.
More from James Madison
All quotes βNo man is allowed to be a judge in his own cause; because his interest would certainly bias his judgment, and, not improbably, corrupt his integrity. With equal, nay with greater reason, a body of men are unfit to be both judges and parties at the same time.
James MadisonRead
I believe there are more instances of the abridgment of the freedom of the people by gradual and silent encroachments of those in power, than by violent and sudden usurpations; but, on a candid examination of history, we shall find that turbulence, violence, and abuse of power, by the majority trampling on the rights of the minority, have produced factions and commotions, which, in republics, have, more frequently than any other cause, produced despotism.
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The advice nearest to my heart and deepest in my convictions is that the Union of the States be cherished and perpetuated.
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Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives.
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The magnitude of this evil among us is so deeply felt, and so universally acknowledged, that no merit could be greater than that of devising a satisfactory remedy for it.
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