William McKinley Quotes
When it was necessary to raise money for the prosecution of the war, and a loan was sought of two hundred millions of dollars, more than fourteen hundred millions were subscribed by the people of the United States, and for the first time in our history your government my government sells a three-per-cent. bond, a bond which sold at par, which is now worth a premium of five cents on every dollar, which profit has gone to the people. For it was a popular loan, and no citizen was able to receive more than five thousand dollars worth of bonds.
This is an excellent historical quotations showing how our government financed the Spanish American War. Wars have always placed economic stress on the nations which wage then. In the American Revolution we borrowed from individuals and from France. After that all our wars were financed by a combination of war bond sales, other borrowing, and tax increases—all except the George W, Bush Afghanistan and Iraq Wars which were not funded thus complicating an economic crises caused by Bush’s Great Recession. While some critics saw Bush’s actions as reprehensible and irresponsible—it was the only time in American history where tax rates were cut in wartime, Bush’s team had a plan. They had an ideological point of view that said that major tax cuts would spur the economy and lead to MORE government revenue as a result of the growth that would come. However, in this case there not only was no growth, but there was the worst recession in American History. But there was a plan to finance the war—it just went awry.
William McKinley, 1843-1901, 25th President of the United States (Republican, OH), Speech, Marshall Town, Iowa, October 11, 1898
Sourced by: Eigen's Political and Historical Quotations
Wilson was very candid that there would be high cost to war and sacrifice would be needed. See {584570} for other similar candor. This quotation was often used by critics of George W. Bush who initiated the Iraq War and then cut taxes for the rich, but then financed the war through the budgetary emergency appropriations bypassing the budget rules that the revenue must be specified to pay for it. His administration even claimed at an early stage in the war that the oil revenue from Iraq oil would defray the costs.
Roosevelt was very candid with the American people that there would be high cost to war and sacrifice would be needed. See {584569} for other similar candor. This quotation was often used by critics of George W. Bush who initiated the Iraq War and then cut taxes for the rich, but then financed the war through the budgetary emergency appropriations bypassing the budget rules that the revenue must be specified to pay for it. His administration even claimed at an early stage in the war that the oil revenue from Iraq oil would defray the costs.
The Dutch King’s brother, Emperor Napoleon Bonaparte Bonaparte, insisted on Dutch contributions to his war effort in the way of Dutch troops, ships and provisions. Yet there was not enough possible revenue to pay for such a war effort. Gogel was able to introduce efficiencies in many areas but still more taxes were needed. War expenditures took all the resources of the state and progress stopped and the kingdom was almost destroyed by the economic crisis.
_0_thumbnail_47x47.jpg "Bill White, Mayor of Houston, Texas"){kind=small}
During the Iraq War, President George W. Bush, cut taxes several times as part of his economic philosophy. The result he claimed kept the economy sound. It also plunged the nation into the highest national deficit in U. S. History.
William McKinley was the 25th president of the United States, serving from 1897 until his assassination in 1901. McKinley was president during the Spanish–American War of 1898, raised protective tariffs to boost American industry, and rejected the expansionary monetary policy of free silver, keeping the nation on the gold standard.
