Quote:
Originally Posted by jluetjen
As opposed to...
(Sigh) Always fast and loose with the facts in order to stretch your point. 
Debt is a time-honored method to finance wars. It even predates the US.
- France was deeply in debt after the 7-year war (Described by Winston Churchill as "The first global war"), which contributed to the French Revolution.
- in 1523, in order to raise money, François I established a government bond system in Paris, the "rentes sur l'Hôtel de Ville" to help pay for the wars with Italy. From 1683 through to 1715 the French national debt increased from 16 million livres to 1,1 trillion livres in order to finance the wars of that time (and other things).
Of course, the other popular method of financing wars is to print money. A brief study of economics would reveal that both methods are essentially the same thing, executed differently. |
$75,463,476.52 in 1791 huh?
Check your damn figures. There probably wasn't that much money in the entire USA at that time.