Monetary Strength Quotes
Prince de Benévant. Alexander Hamilton had devised a system of bonds to assume the revolutionary war debt, and, despite the objection of many other politicians like Jefferson, assumed a national debt. But the Untied States was growing and Hamilton’s bonds were so well implemented, that even the sophisticated leaders of Europe were openly admitting that U. S. Bonds were excellent investments and Europeans and other foreigners have been buying American debt ever since.
This was a fundamental principle of the Republican party in the middle of the 20th century. However, by the end of that century, Republican doctrine, with the support of the Military-Industrial Complex {641114}, had changed to place defense spending as the highest priority—so much so that the huge deficits created by the massive defense spending weakened the financial solvency that Eisenhower had warned that was more fundamental.
