PUBLIC DEBT • E-FREE TRANSLATION.COM • Definition of Public debt

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/pˈəblɪk dɛt/ Listen

Public debt

noun

The total of the nation's debts: debts of local and state and national governments; an indicator of how much public spending is financed by borrowing instead of taxation.

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Etymology of 'Public debt'

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"Public debt" Quotes from Famous Books

... showing the necessity of a new and different government, was the state of trade and commerce. To benefit and improve these was a great object in itself; and it became greater when it was regarded as the only means of enabling the country to pay the public debt, and to do justice to those who had most effectually labored for its independence. The leading state papers of the time are full of this topic. The New Jersey resolutions[1] complain that the regulation of trade was in the power of the several States, within their separate jurisdiction, ...

— The Great Speeches and Orations of Daniel Webster • Daniel Webster

... the power to get what it desires, only the will to use the power is needed. And that will is motived by the great shadow that is hanging over the world—the shadow of public debt in this war. Someone must pay that debt. Heretofore war debts have fallen heaviest upon the poor. Those least able to pay have paid the most. But those least able to pay are coming out of this war ...

— The Martial Adventures of Henry and Me • William Allen White

... more than its deposits, unless by special act; the directors were made responsible for every violation, and could be sued by each creditor. They could only deal in gold and silver exchange, and not in other country securities which could not be realized upon at once. The Bank could purchase no public debt nor exceed 6 per cent. interest on its discounts and loans. It could lend no more than $500,000, to the United States, $50,000, to each State, and nothing to foreigners. It could give no bill of exchange greater than $5,000; bank notes less than ...

— A Brief History of Panics • Clement Juglar

... the same mint, and are notable as the first effort made by the English government to emancipate the country from the restrictive policy which had been introduced by the "glorious revolution;" memorable epoch, that presented England at the same time with a corn law and a public debt.. But on no subject was the magnetic influence of the descendant of Sir William Petty more decided, than in the resolution of his pupil to curb the power of the patrician party by an infusion from ...

— Sybil - or the Two Nations • Benjamin Disraeli

... at human follies, it would have been rank ingratitude in one who so very unequivocally got his bread by them. About this time, his remarks on the subject of taxation, however, were singularly caustic, and well applied. He railed at the public debt, as a public curse, and ominously predicted the dissolution of society, in consequence of the burdens and incumbrances it was hourly accumulating on the already overloaded ...

— The Monikins • J. Fenimore Cooper

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