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**Edqpdnuu** · 06-10-2012, 03:02 PM

REPUDIATION; APPLICABLE TO THE WAR DEBTS OF ALL COUNTRIES by Isaac Butts, 1869

"No large national debt was ever paid or discharged except by repudiation."

http://books.google.com/books?id=YfY...ulsion&f=false

The Colony of Massachusetts in the year 1749 "redeemed" her debt of 2,200,000 pounds by paying 1/12th that sum in silver.

Virginia, soon after the Revolution, "redeemed" or "retired" her state paper money by funding it at the rate of 1,000 for 1.

The issues of continental money was estimated by Alexander Hamilton at $357,476,541 while the public debt recognized by the Grand Committee amounted to but $35,500,375.

06-10-2012, 03:02 PM	#1
Edqpdnuu Join Date Oct 2005 Posts 521 Senior Member	Debt Repubidation .. Lessons from the past REPUDIATION; APPLICABLE TO THE WAR DEBTS OF ALL COUNTRIES by Isaac Butts, 1869 "No large national debt was ever paid or discharged except by repudiation." http://books.google.com/books?id=YfY...ulsion&f=false The Colony of Massachusetts in the year 1749 "redeemed" her debt of 2,200,000 pounds by paying 1/12th that sum in silver. Virginia, soon after the Revolution, "redeemed" or "retired" her state paper money by funding it at the rate of 1,000 for 1. The issues of continental money was estimated by Alexander Hamilton at $357,476,541 while the public debt recognized by the Grand Committee amounted to but $35,500,375.
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