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Tag Archives: national debt

George Washington Rips Party Politics

25 Friday Apr 2014

Posted by jrbenjamin in History, Politics

≈ 6 Comments

Tags

American History, American Revolution, Billy Lee, Biography, Debt, Finances, George Washington, Government, Henry Laurens, history, Inflation, Martha Washington, national debt, Party Politics, political parties, politics, Ron Chernow, United States History, Valley Forge, Washington: A Life

George Washington

“[P]arty disputes and personal quarrels are the great business of the day whilst the momentous concerns of an empire, a great and accumulated debt; ruined finances, depreciated money, and want of credit (which in their consequences is the want of every thing) are but secondary considerations and postponed from day to day, from week to week as if our affairs wore the most promising aspect; after drawing this picture, which from my Soul I believe to be a true one I need not repeat to you that I am alarmed and wish to see my Countrymen roused.”

__________

General George Washington, writing from Philadelphia on December 30th, 1778, in a letter to his friend and signatory to the Declaration Independence, Benjamin Harrison V.

This correspondence, which was penned at the dicey midpoint of the Revolutionary War, of course illuminates the abiding nature of American partisanship and our intermittent anxiety about inflation, debt and national finances. Yet it also gives depth to the psyche of its normally even-tempered author, most especially Washington’s faithfulness, which was as unshakeable as folkloric claims about his honesty. As historian Ron Chernow notes in his biography, “Washington was always reluctant to sign on to any cause, because when he did so, his commitment was total.”

In his text, Chernow bookends this letter which a description of its tense political context, which has some pointed applicability to our own time and picks up exactly a week before Washington penned this note:

On December 23 Washington took a brief respite from his incessant labors and traveled to Philadelphia to confer with Congress about the prospective Canadian invasion… Washington had already asked Martha to meet him in Philadelphia and she had eagerly awaited him there since late November. They would celebrate their twentieth wedding anniversary in the city that January… yet the trip would prove anything but a vacation. Staying at the Chestnut Street home of Henry Laurens, Washington got a view of civilian life that would revolt him with an indelible vision of private greed and profligacy. Like soldiers throughout history, he was jarred by the contrast between the austerity of the army and the riches being earned on the home front through lucrative war contracts…

Ever since Valley Forge, Washington had lamented the profiteering that deprived his men of critically needed supplies, and he remained contemptuous of those who rigged and monopolized markets, branding them “the pests of society and the greatest enemies we have to the happiness of America,” as he erupted in one fire-breathing letter. “I would to God that one of the most atrocious of each state was hung in gibbets upon a gallows five times as high as the one prepared by Haman.” Because of hoarding and price manipulation, among other reasons, the mismanaged currency had lost 90 percent of its value in recent months. As he contemplated these problems, Washington was also distraught over popular disunity and wished that the nation could move beyond factional disputes…

More letters from the founders:

  • Mr. Jefferson lends some advice to his teenage grandson
  • Alexander Hamilton sends a request to a friend, asking about girls
  • John Adams writes to his wife about his faltering sense of self-confidence

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How Jefferson Fostered Compromise on the National Debt

22 Tuesday Oct 2013

Posted by jrbenjamin in Biography, History, Politics

≈ 4 Comments

Tags

Alexander Hamilton, American History, Biography, compromise, debate, debt negotiations, economics, founding, founding fathers, Government, history, James Madison, Jon Meacham, Monticello, national debt, partisanship, Patsy Jefferson, politics, public debt, Thomas Jefferson, Thomas Jefferson: The Art of Power, U.S. history

Thomas Jefferson engraving after painting by Rembrandt Peale.

“Hamilton had argued for a national financial system in which the central government would fund the national debt, assume responsibility for all state debts, and establish a national bank. Money for the federal government would be raised by tariffs on imports and excise taxes on distilled spirits… The assumption proposal, however, instantly divided the nation.

Jefferson knew matters were dire. The Congress seemed paralyzed…

The beginning of wisdom, Jefferson thought, might lie in a meeting of the principals out of the public eye. So he convened a dinner. Jefferson believed things could be worked out, he said, for ‘men of sound heads and honest views needed nothing more than explanation and mutual understanding to enable them to unite in some measures which might enable us to get along.’

No deal meant disaster. It was clear, Jefferson wrote, ‘that if everyone retains inflexibly his present opinion, there will be no bill passed at all for funding the public debts, and… without funding there is an end of the government.’…

The final result, Jefferson believed, was ‘the least bad of all the turns the thing can take.’ It was true that he hated the financial speculation that would result from the Hamiltonian vision of commerce. ‘It is much to be wished that every discouragement should be thrown in the way of men who undertake to trade without capital,’ Jefferson said. ‘The consumers pay for it in the end, and the debts contracted, and bankruptcies occasioned by such commercial adventurers, bring burden and disgrace on our country.’

Yet Jefferson also believed in compromise. He advised his daughter Patsy to approach all people and all things with forbearance. ‘Every human being, my dear, must thus be viewed according to what it is good for, for none of us, no not one, is perfect; and were we to love none who had imperfections this world would be a desert for our love,’ Jefferson wrote in July 1790. ‘All we can do is to make the best of our friends: love and cherish what is good in them, and keep out of the way of what is bad: but no more think of rejecting them for it than of throwing away a piece of music for a flat passage or two.’ It was sound counsel for life at Monticello—and at New York.

In December 1790, a Virginian wrote Jefferson about the state General Assembly’s official protest over the debt assumption. ‘One party charges the Congress with an unconstitutional act; and both parties charge it with an act of injustice.’

So be it. Jefferson had struck the deal he could strike, and, for the moment, America was the stronger for it.”

__________

From the end of chapter 23 in part VI (“The First Secretary of State: 1789-1792”) of Jon Meacham’s new biography Thomas Jefferson: The Art of Power.

Gordon Wood called The Art of Power, “probably the best single-volume biography of Jefferson ever written.” Pick it up if you’re interested in the man, or take a look at additional posts about Thomas Jefferson.

Check out another text from American history which is especially relevant to the recent debt-ceiling/government shut-down machinations in Washington, DC. In this one, Abraham Lincoln considers political compromise on the eve of the Civil War:

Lincoln

A Shallow Pretext for Extorting Compromise

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Mr. Paul Leaves Washington

23 Wednesday Jan 2013

Posted by jrbenjamin in Freedom, Politics

≈ 2 Comments

Tags

Congress, deficit, Democrats, Farewell to Congress, national debt, Republicans, Ron Paul

Ron Paul

“This may well be the last time I speak on the House Floor. At the end of the year I’ll leave Congress after 23 years in office over a 36-year period. My goals in 1976 were the same as they are today: promote peace and prosperity by a strict adherence to the principles of individual liberty.

It was my opinion, that the course the U.S. embarked on in the latter part of the 20th Century would bring us a major financial crisis and engulf us in a foreign policy that would overextend us and undermine our national security.

The problems seemed to be overwhelming and impossible to solve, yet from my view point, just following the constraints placed on the federal government by the Constitution would have been a good place to start. To achieve the goals I sought, government would have had to shrink in size and scope, reduce spending, change the monetary system, and reject the unsustainable costs of policing the world and expanding the American Empire.

How much did I accomplish?

In many ways, according to conventional wisdom, my off-and-on career in Congress, from 1976 to 2012, accomplished very little. No named legislation, no named federal buildings or highways – thank goodness. In spite of my efforts, the government has grown exponentially, taxes remain excessive, and the prolific increase of incomprehensible regulations continues. Wars are constant and pursued without Congressional declaration, deficits rise to the sky, poverty is rampant and dependency on the federal government is now worse than any time in our history.

All this with minimal concerns for the deficits and unfunded liabilities that common sense tells us cannot go on much longer. A grand, but never mentioned, bipartisan agreement allows for the well-kept secret that keeps the spending going. One side doesn’t give up one penny on military spending, the other side doesn’t give up one penny on welfare spending, while both sides support the bailouts and subsidies for the banking and corporate elite. And the spending continues as the economy weakens and the downward spiral continues. As the government continues fiddling around, our liberties and our wealth burn in the flames of a foreign policy that makes us less safe.

The major stumbling block to real change in Washington is the total resistance to admitting that the country is broke. This has made compromising, just to agree to increase spending, inevitable since neither side has any intention of cutting spending.

The country and the Congress will remain divisive since there’s no loot left to divvy up.

I have thought a lot about why those of us who believe in liberty, as a solution, have done so poorly in convincing others of its benefits. If liberty is what we claim it is — the principle that protects all personal, social and economic decisions necessary for maximum prosperity and the best chance for peace — it should be an easy sell. Yet, history has shown that the masses have been quite receptive to the promises of authoritarians which are rarely if ever fulfilled…

Liberty can only be achieved when government is denied the aggressive use of force. If one seeks liberty, a precise type of government is needed. To achieve it, more than lip service is required.

Two choices are available.

A government designed to protect liberty – a natural right – as its sole objective. The people are expected to care for themselves and reject the use of any force for interfering with another person’s liberty. Government is given a strictly limited authority to enforce contracts, property ownership, settle disputes, and defend against foreign aggression.

Or: A government that pretends to protect liberty but is granted power to arbitrarily use force over the people and foreign nations. Though the grant of power many times is meant to be small and limited, it inevitably metastasizes into an omnipotent political cancer. This is the problem for which the world has suffered throughout the ages. Though meant to be limited it nevertheless is a 100% sacrifice of a principle that would-be-tyrants find irresistible. It is used vigorously – though incrementally and insidiously. Granting power to government officials always proves the adage that: ‘power corrupts.’

Today’s mess is a result of Americans accepting option #2, even though the Founders attempted to give us Option #1.

The results are not good. As our liberties have been eroded our wealth has been consumed. The wealth we see today is based on debt and a foolish willingness on the part of foreigners to take our dollars for goods and services. They then loan them back to us to perpetuate our debt system. It’s amazing that it has worked for this long but the impasse in Washington, in solving our problems indicate that many are starting to understand the seriousness of the world-wide debt crisis and the dangers we face. The longer this process continues the harsher the outcome will be…

Because it’s the government that initiates force, most people accept it as being legitimate. Those who exert the force have no sense of guilt. It is believed by too many that governments are morally justified in initiating force supposedly to ‘do good.’ They incorrectly believe that this authority has come from the ‘consent of the people.’ The minority, or victims of government violence never consented to suffer the abuse of government mandates, even when dictated by the majority.

This attitude has given us a policy of initiating war to ‘do good,’ as well. It is claimed that war, to prevent war for noble purposes, is justified. This is similar to what we were once told that: ‘destroying a village to save a village’ was justified. It was said by a US Secretary of State that the loss of 500,000 Iraqis, mostly children, in the 1990s, as a result of American bombs and sanctions, was ‘worth it’ to achieve the “good” we brought to the Iraqi people. And look at the mess that Iraq is in today…

What a wonderful world it would be if everyone accepted the simple moral premise of rejecting all acts of aggression. The retort to such a suggestion is always: it’s too simplistic, too idealistic, impractical, naïve, utopian, dangerous, and unrealistic to strive for such an ideal.

The answer to that is that for thousands of years the acceptance of government force, to rule over the people, at the sacrifice of liberty, was considered moral and the only available option for achieving peace and prosperity.

What could be more utopian than that myth – considering the results especially looking at the state sponsored killing, by nearly every government during the 20th Century, estimated to be in the hundreds of millions. It’s time to reconsider this grant of authority to the state.

No good has ever come from granting monopoly power to the state to use aggression against the people to arbitrarily mold human behavior. Such power, when left unchecked, becomes the seed of an ugly tyranny. This method of governance has been adequately tested, and the results are in: reality dictates we try liberty.

The idealism of non-aggression and rejecting all offensive use of force should be tried. The idealism of government sanctioned violence has been abused throughout history and is the primary source of poverty and war. The theory of a society being based on individual freedom has been around for a long time. It’s time to take a bold step and actually permit it by advancing this cause, rather than taking a step backwards as some would like us to do.

Today the principle of habeas corpus, established when King John signed the Magna Carta in 1215, is under attack. There’s every reason to believe that a renewed effort with the use of the internet that we can instead advance the cause of liberty by spreading an uncensored message that will serve to rein in government authority and challenge the obsession with war and welfare…”

__________

Excerpts from Ron Paul’s Farewell to Congress.

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