Wie modern sind wir eigentlich?

Parlamentssitzung in 1803 (ja, vor mehr als 200 Jahre), mit der Frage, wie ein Schuldenproblem mit mehr Schulden bekämpft werden kann.

The fundamental principle of all governments on this subject ought to be, that credit and circulation, if undisturbed by legislative interference, will invariably find their own level. Whenever any temporary purpose (as must sometimes happen) induces a departure from this principle, the misfortune is, that the first deviation too commonly leads to the necessity of a second, and so necessarily, until it becomes almost impossible to tread back the same steps, or to revert to the only wise system of policy on the subject. So it happened in this case.


Bankruptcies might thus, in some instances, be prevented; but, in the natural course of things, great, extensive, and ill founded speculation would bring on bankruptcies, which, in fact, are the natural correctives that apply to such evils. In such cases, therefore, the public ought not to interfere. Upon the whole, without giving any decided opinion as to his lordship’s remedies, I may say that, at present, I do not perceive that they apply to the evils proposed to be remedied, and that it appears to me, in fact, that the evil itself, if it be an evil, does not arise from the cause to which his lordship a-scribes it.

Via The Bankwatch

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