It is a wise rule and should be fundamental in a government disposed to cherish its credit, and at the same time to restrain the use of it within the limits of its faculties, "never to borrow a dollar without laying a tax in the same instant for paying the interest annually, and the principal within a given term; and to consider that tax as pledged to the creditors on the public faith."
Interpretation
The quote emphasizes the importance of fiscal responsibility in government borrowing.
Thomas Jefferson's quote underscores a fundamental principle of financial prudence for governments: any borrowing should be accompanied by a tax to ensure that the interest and principal can be repaid. This reflects a commitment to maintaining public credit and accountability to creditors, advocating for a system that ties government debt directly to the means of repayment to avoid excessive indebtedness.
In practice
During a finance seminar discussing responsible government budgeting.
The firmness with which the (American) people have withstood the... abuses of the press, the discernment they have manifested between truth and falsehood, show that they may safely be trusted to hear everything true and false and to form a correct judgment between them.
I, place economy among the first & most important republican virtues, & public debt as the greatest of the dangers to be feared
βWe must make our choice between economy and liberty or confusion and servitude...If we run into such debts, we must be taxed in our meat and drink, in our necessities and comforts, in our labor and in our amusements...if we can prevent the government from wasting the labor of the people, under the pretense of caring for them, they will be happy.
Very many and very meritorious were the worthy patriots who assisted in bringing back our government to its republican tack. To preserve it in that, will require unremitting vigilance.
A nation, as a society, forms a moral person, and every member of it is personally responsible for his society.
Timid men prefer the calm of despotism to the tempestuous sea of liberty.
Good-by, Good-by, world. Good-by, Grover's Corners... Mama and Papa. Good-by to clocks ticking... and Mama's sunflowers. And food and coffee. And new-ironed dresses and hot baths...and sleeping and waking up. Oh, earth, you're too wonderful for anybody to realize you.
I told you I would tell you my names. This is what they call me. I'm called Glad-of-War, Grim, Raider, and Third. I am One-Eyed. I am called Highest, and True-Guesser. I am Grimnir, and I am the Hooded One. I am All-Father, and I am Gondlir Wand-Bearer. I have as many names as there are winds, as many titles as there are ways to die. My ravens are Huginn and Muninn, Thought and Memory; my wolves are Freki and Geri; my horse is the gallows.
Science may provide the most useful way to organize empirical, reproducible data, but its power to do so is predicated on its inability to grasp the most central aspects of human life: hope, fear, love, hate, beauty, envy, honor, weakness, striving, suffering, virtue.
Whenever you become anxious or stressed, outer purpose has taken over, and you lost sight of your inner purpose. You have forgotten that your state of consciousness is primary, all else secondary.
There is certainly a universal and unconscious propensity to impose a rhythm even when one hears a series of identical sounds at constant intervals... We tend to hear the sound of a digital clock, for example, as "tick-tock, tick-tock" - even though it is actually "tick tick, tick tick.
Many years ago, our father Ibrahim (AS) made a choice. He loved his son. But He loved God more. The commandment came to sacrifice his son. But it wasn't his son that was slaughtered. It was his attachment to anything that could compete with his love for God. So let us ask ourselves in these beautiful days of sacrifice, which attachments do we need to slaughter?
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