Most basic and dangerous of all was the Federalist creation of a huge perpetual federal debt, which, as New York governor George Clinton explained, not only would poison the morals of the people through speculation but would also add an artificial support to the administration, and by a species of bribery enlist the monied men of the community on the side of the measures of the government. . . . Look to Great Britain.
Most basic and dangerous of all was the Federalist creation of a huge perpetual federal debt, which, as New York governor George Clinton explained, not only would poison the morals of the people through speculation but would also add an artificial support to the administration, and by a species of bribery enlist the monied men of the community on the side of the measures of the government. . . . Look to Great Britain.
Gordon S. Wood Quote
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