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The Political Economy of the American Revolution

Book by George Washington · 8 quotes · Cures, Giving, May

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The Political Economy of the American Revolution Quotes

“The riches of a country are to be valued by the quantity of labor its inhabitants are able to purchase, and not by the quantity of silver and gold they possess; which will purchase more or less labor, and therefore is more or less valuable, as is said before, according to its scarcity or plenty.”

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“But though a funded debt is not in the first instance, an absolute increase of Capital, or an augmentation of real wealth; yet by serving as a New power in the operation of industry, it has within certain bounds a tendency to increase the real wealth of a Community, in like manner as money borrowed by a thrifty farmer, to be laid out in the improvement of his farm may, in the end, add to his Stock of real riches.”

FirstsMayRealEndsCertainCommunityWealthIndustryIncreaseAbsolutesAddBoundsDebtRichesImprovementTendenciesInstanceOperationsServingFarmsFarmersBorrowedThriftyReal Wealth
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“If the maintenance of public credit, then, be truly important, the next enquiry which suggests itself is, by what means it is to be effected? The ready answer to which question is, by good faith, by a punctual performance of contracts. States, like individuals, who observe their engagements, are respected and trusted: while the reverse is the fate of those who pursue an opposite conduct.”

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“'Tis folly in one Nation to look for disinterested favors from another; that it must pay with a portion of its Independence for whatever it may accept under that character; that by such acceptance, it may place itself in the condition of having given equivalents for nominal favours and yet of being reproached with ingratitude for not giving more. There can be no greater error than to expect, or calculate upon real favours from Nation to Nation. 'Tis an illusion which experience must cure, which a just pride ought to discard.”

GivingLooksMayRealCharacterGivenNationsPayAcceptingGreaterConditionsPolicyAcceptancePrideOughtIllusionIndependenceErrorsFavorsCuresFollyPortionsForeign PolicyFavourIngratitudeDisinterestedFarewell Address
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