John C. Calhoun

What is a permanent loan but a mortgage upon the wealth and industry of the country? It is the only form of indebtedness, as experience has shown, by which heavy and durable encumbrance can be laid upon the community.
What is a permanent loan but a mortgage upon the wealth and industry of the country? It is the only form of indebtedness, as experience has shown, by which heavy and durable encumbrance can be laid upon the community.
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These are some quotes by American author John C. Calhoun Statesman, who lived between March 18, 1782 and March 31, 1850.