On so-called “national” debts

Better described as parents eating their children.

David Hume:

[O]ur modern expedient, which has become very general, is to mortgage the public revenues, and to trust that posterity will pay off the incumbrances contracted by their ancestors: And they, having before their eyes, so good an example of their wise fathers, have the same prudent reliance on their posterity; who, at last, from necessity more than choice, are obliged to place the same confidence in a new posterity. 

(David Hume, 1742 essay “Of Public Credit,” in Essays: Moral, Political, and Literary, edited by Eugene Miller (Liberty Fund, 1985), p. 350.)

Samuel Adams:

“Did the protection we received annul our rights as men, and lay us under an obligation of being miserable? Who among you, my countrymen, that is a father, would claim authority to make your child a slave because you had nourished him in infancy? ’Tis a strange species of generosity which requires a return infinitely more valuable than anything it could have bestowed; that demands as a reward for a defense of our property a surrender of those inestimable privileges, to the arbitrary will of vindictive tyrants, which alone give value to that very property.”

(Samuel Adams, Speech in Philadelphia, 1776)

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