Andrew Jackson Quotes

If a national debt in considered a national blessing, then we can get on by borrowing. But as I believe it is a natural curse, my vow shall be to pay the national debt, to prevent a moneyed aristocracy from growing up around our administration that must bend to its views, and ultimately destroy the liberty of our country.

 
Context
See {604501} for another of his statements. It was Alexander Hamilton who called the national debt a national blessing. See {207891}. Jackson was convinced that a moneyed class who held the national debt could dictate to any administration by threatening to not renew their bonds. The same concern was expressed at the beginning of the 21st century regarding the Chinese and the Middle Eastern countries which held do many of our bonds.
Andrew Jackson
Andrew Jackson
  • Born: March 15, 1767
  • Died: June 8, 1845
  • Nationality: American
  • Profession: President

Andrew Jackson was an American soldier and statesman who served as the seventh president of the United States from 1829 to 1837. Before being elected to the presidency, Jackson gained fame as a general in the United States Army and served in both houses of Congress. As president, Jackson sought to advance the rights of the "common man" against a "corrupt aristocracy" and to preserve the Union.