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Excerpt from Selections From Cobbett's Political Works, Vol. 2: Being a Complete Abridgment of the 100 Volumes Which Comprise the Writings of "Porcupine" And the "Weekly Political Register" In America they pursue a different course. They have measures for reducing their debt; really reducing it; and they are reducing it accord ingly. When Mr. Gallatin* tells the Congress that there is an annual appropriation of of dollars for the payment of the principal and interest of the public debt, he tells them, at the same time, that of those dollars are to be applied to the redemption of the principal; that is, to the real redemption of the principal; to the dis charge of it; to the paying of the holdersfor it; to the taking of it up and destroying it. It is truly a shame to employ so many difi'ei'ent phrases to express What is equally well expressed in one word, in the word redeeni only; but, the fault is not mine that word, as well as all others of nearly ihe same signification, have been so abused, their meaning has been so perverted they are become so equivocal, in consequence of the use that has been made of them with regard to the Pitt sinking fund, that they are, upon subjects of this sort, no longer capable Of filling their former places, or Of performing their proper functions. The Americans do, I say, really reduce their national debt. They raise a sum of money in taxes annually, and they redeem with it as much stock as it will purchase. Really redeem it. They buy it, pay for it, take the evidences of it from the individual holders, they throw those evi deuces in the fire that which they have so redeemed is no longer in ex istence, and, of course, they no longer pay interest upon it. This is re deeming; but, can we be said to redeem; we, who 'continue to pay interest upon all the stock, just the same as if we had no sinking fund? About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Parametry knihy

• Plný název: Selections From Cobbett's Political Works, Vol. 2
• Podnázev: Being a Complete Abridgment of the 100 Volumes Which Comprise the Writings of "Porcupine" And the "Weekly Political Register" (Classic Reprint)
• Autor: William Cobbett
• Jazyk: Angličtina
• Vazba: Brožovaná
• Počet stran: 520
• EAN: 9781334435164
• ISBN: 1334435162
• ID: 15523574
• Nakladatelství: Forgotten Books
• Hmotnost: 689 g
• Rozměry: 229 × 152 × 27 mm
• Datum vydání: 28. November 2016

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