Thomas Jefferson 1789 Letter to James Madison

But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years.

Reference: Jefferson Writings, Peterson, ed., 962.

[The Patriot Post (PatriotPost.US)]

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