Quote by Ralph Waldo Emerson
Solvency is maintained by means of a national debt, on the principle, If you will not lend me the money, how can I pay you?
Summary
This quote implies that a nation's solvency or financial stability is often dependent on its ability to borrow money. When a country is in debt and needs to make payments, it relies on borrowing more money to meet its obligations. The quote points out the catch-22 situation where if lenders refuse to provide loans, the country would struggle to repay its existing debts. Therefore, the national debt continues to grow as an essential strategy to maintain solvency.
Topics
Vanity
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