The government of the United States have no idea of paying their debt in a depreciated medium, and... in the final liquidation of the payments which shall have been made, due regard will be had to an equitable allowance for the circumstance of depreciation.
About this quote
- What does it mean?
- Jefferson states that the government will ensure debts are paid fairly, accounting for currency depreciation.
- In plain terms
- The government will pay debts fairly even if money loses value.
- What can you take from it?
- Ensure financial obligations account for value changes.
Where it applies
Putting it to work
Questions to consider
- How should debts be valued?
Another view
Valuation of depreciation can be disputed.
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There can be no safer deposit on earth than the Treasury of the United States.
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