“We ought to . . . prevent that progressive accumulation of debt which must ultimately endanger all governments.”
SIXTH ANNUAL ADDRESS TO CONGRESS
United States, 19 November 1794
George Washington, 1796 Artist: Gilbert Stuart. NPG
. . .
To every description, indeed, of citizens let praise be given. But let them persevere in their affectionate vigilance over that precious depository of American happiness, the constitution of the United States. Let them cherish it too, for the sake of those, who from every clime are daily seeking a dwelling in our land. And when in the calm moments of reflection, they shall have retraced the origin and progress of the insurrection*, let them determine, whether it has not been fomented by combinations of men, who, careless of consequences, and disregarding the unerring truth, that those who rouse, cannot always appease civil convulsion, have disseminated, from an ignorance or perversion of facts, suspicions, jealousies, and accusations of the whole government.
. . .
Gentlemen of the House of Representatives: The time, which has elapsed, since the commencement of our fiscal measures, has developed our pecuniary resources, so as to open a way for a definitive plan for the redemption of the public debt. It is believed, that the result is such, as to encourage Congress to consummate this work, without delay. Nothing can more promote the permanent welfare of the nation, and nothing would be more grateful to our constituents. Indeed whatsoever is unfinished of our system of public credit, cannot be benefited by procrastination; and as far as may be practicable, we ought to place that credit on grounds which cannot be disturbed, and to prevent that progressive accumulation of debt which must ultimately endanger all governments.
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