Public Debts and Public Benefits Seen as Evils Which Ought be Removed: James Madison

"I regret, as much as any member, the unavoidable weight and duration of the burdens to be imposed; having never been a proselyte to the doctrine, that public debts are public benefits. I consider them, on the contrary, as evils which ought to be removed as fast as honor and justice will permit." --James Madison, Debates in the House of Representatives on the First Report on Public Credit, 1790

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