But though a funded debt is not in the first instance, an absolute increase of Capital, or an augmentation of real wealth; yet by serving as a New power in the operation of industry, it has within certain bounds a tendency to increase the real wealth of a Community, in like manner as money borrowed by a thrifty farmer, to be laid out in the improvement of his farm may, in the end, add to his Stock of real riches.

Its objects are CONTRACTS with foreign nations which have the force of law, but derive it from the obligations of good faith.

As the duties of superintending the national defense and of securing the public peace against foreign or domestic violence involve a provision for casualties and dangers to which no possible limits can be assigned, the power of making that provision ought to know no other bounds than the exigencies of the nation and the resources of the community.

[A] power equal to every possible contingency must exist somewhere in the government . . .

It is a singular capriciousness of the human mind, that after all the admonitions we have had from experience on this head, there should still be found men, who object to the new constitution for deviating from a principle which has been found the bane of the old.

An over-scrupulous jealousy of danger to the rights of the people, which is more commonly the fault of the head than of the heart, will be represented as mere pretense and artifice, the stale bait for popularity at the expense of the public good.

Though a wide ocean separates the United States from Europe, yet there are various considerations that warn us against an excess of confidence or security.