This is a contribution from author Michael Gaddy -thank you for standing up for liberty.
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If he were alive today, Thomas Jefferson would be classified by the Department of Homeland Security as a “domestic terrorist.” He saw and fought against the plan for a country controlled by a huge national debt, a debt cherished by Alexander Hamilton. Today we are experiencing the results of Hamilton’s program; kept alive with the First and Second Banks of the United States, which eventually morphed into the Federal Reserve.
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Too bad indeed this country did not hold to the principles of the author of The Declaration of Independence. He was certainly a man of vision. His reasons for opposing a national debt are unassailable and certainly relevant today.
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“No man is more ardently intent to see the public debt soon and sacredly paid off than I am,” Jefferson wrote Washington in 1792. “This exactly marks the difference between Colonel Hamilton’s views and mine, that I would wish the debt paid to-morrow; he wishes it never to be paid, but always to be a thing wherewith to corrupt and manage the Legislature.”
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Jefferson thought a continuing public debt was injurious to liberty and fiscal stability. He proposed a plan which would prevent one generation passing along the debt to another.. In a letter to John Eppes in 1813, he wrote, “What is to hinder (the government) from creating a perpetual debt? The laws of nature, I answer, …Suppose that a majority, on the first day of the year 1794, had borrowed a sum of money equal to the fee-simple value of the State, and to have consumed it in eating, drinking and making merry in their day; or if you please, quarreling and fighting with their un-offending neighbors.” Were an effort made to pass the debt along, “Every one will say no,… the laws of nature impose no obligation on them to pay this debt. And although, like some other natural rights, this has not yet entered into any declaration of rights, it is no less a law, and ought to be acted on by honest governments.”
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In a letter to Madison in 1789 Jefferson stated, “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.”
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To Senator, and former House Speaker, Nathaniel Macon in 1821, “There does not exist an engine so demoralizing of the nation as a public debt. It will bring on us more ruin at home than all the enemies from abroad against whom this army and navy are to protect us.”
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Where are the Jeffersonians among today’s politicians? Obviously, since they would be seen as enemies of the government of today, just as Jefferson was to King George III, it is quite doubtful we will ever see such a statesman again in our history. The two major political parties will assure that never happens.
By Michael Gaddy, and Army veteran of Vietnam, Grenada, and Beirut.






