George Washington: Contract Debt

George Washington Money Quote saying gaining additional debt is not the best method of payment for existing. George Washington said:
 

 

“To contract new debts is not the way to pay old ones” — George Washington

In this quote, George Washington is expressing his view that taking on new debts is not a viable strategy for paying off existing debts. His interpretation is that piling on additional borrowing is not a real solution and will only make the overall debt situation worse over time rather than resolving the original obligations.

Washington seems to be suggesting that truly addressing debt requires finding ways to pay it off through budget surpluses, cost cuts or revenue increases, not further expanding liabilities.

The overall message is that Washington believed continuously refinancing debt or borrowing more to pay interest is unsustainable, and that debts can only be properly dealt with through genuine repayment rather than new borrowing that compounds existing liabilities.

Birthday: February 22, 1732 – Death: December 14, 1799

George Washington: Ready for War

George Washington Money Quote saying in order to have peace it is important to be prepared for war any time. George Washington said:
 

 

“If we desire to avoid insult, we must be able to repel it; if we desire to secure peace, one of the most powerful instruments of our rising prosperity, it must be known, that we are at all times ready for War” — George Washington

In this quote, George Washington is expressing the view that maintaining a strong military capability is important for both defending against potential aggression as well as preserving peace. His interpretation is that if a nation wants to avoid being threatened or “insulted” by other powers, it must demonstrate the ability to effectively “repel” any attacks on its interests or territory through force of arms.

Additionally, Washington suggests that establishing peace as a goal requires a nation to ensure it is always prepared and willing to engage in war if needed. His perspective seems to be that showing military strength and resolve is a key part of both deterring conflict and enabling economic “prosperity” in a stable security environment.

The overall message conveyed is that Washington saw maintaining armed might and readiness for warfare as an integral part of safeguarding national security as well as promoting peaceful conditions.

Birthday: February 22, 1732 – Death: December 14, 1799

George Washington: Credit Prosper

George Washington Money Quote saying in the first State of the Union Address to Congress on January 8, 1790 that we should work out how to pay our debts ($11,000,000 at the time). George Washington said:
 

 

“An adequate provision for the support of the public Credit is a matter of high importance to the national honor and prosperity” — George Washington

In this quote, George Washington is emphasizing the importance of maintaining the public’s trust and confidence in the financial system and creditworthiness of the national government.

His interpretation is that a nation’s ability to borrow funds and support its debt obligations (“public Credit”) is vital both to preserving its reputation (“national honor”) as well as facilitating economic growth and wealth (“prosperity”).

Washington seems to be arguing that defaulting on debts or severely damaging credit would undermine both a country’s standing in the world as well as its material progress.

The overall message is that Washington viewed sound fiscal management and safeguarding the public’s trust in the monetary/credit system as a major responsibility bearing directly on a nation’s standing and economic strength.

The national debt was only at $0 one time in history, beginning January 8, 1835 when President Andrew Jackson was able to keep the debt at zero for about a year.

Birthday: February 22, 1732 – Death: December 14, 1799

George Washington: Worry Interest

George Washington Money Quote saying plainly that one should avoid trouble to escape worrying about the outcome. George Washington said:
 

 

“Worry is the interest paid by those who borrow trouble” — George Washington

In this quote, George Washington is commenting on the concept of worrying or borrowing trouble. His interpretation is that worrying unnecessarily about potential future problems is akin to paying interest on a loan that may never even be taken.

Washington seems to be suggesting that worrying often stems from imagining threats or difficulties that haven’t happened yet and may not come to pass.

The overall message appears to be that excessive worrying is a waste of mental energy, since it amounts to paying a cost (interest) for borrowing anxieties (trouble) that one may never have to face or deal with. Washington conveys the perspective that fretting over hypothetical problems is an unproductive exercise that provides no benefit.

Birthday: February 22, 1732 – Death: December 14, 1799

George Washington: Highest Bidder

George Washington Money Quote saying not many of us will resist the most cash offered, no matter how virtuous. George Washington said:
 

“Few men have virtue to withstand the highest bidder” — George Washington

In this quote, George Washington is commenting on the weakness of human virtue and morality when confronted with large financial incentives or rewards.

His interpretation is that when money is used to entice or corrupt through “the highest bidder” making the greatest offer, few people will have the strength of character or integrity (“virtue”) to resist compromising their principles and giving in to the monetary temptation.

Washington seems to be suggesting that for most people, morality can be undermined by large enough financial inducements, no matter their original intentions or values.

The overall message is one of skepticism about the ability of average individuals to maintain virtue and stand on principle when money is used as a powerful corrupting influence by those willing to outbid others.

Birthday: February 22, 1732 – Death: December 14, 1799

George Washington: Paper Currency Like Alcohol

George Washington Money Quotation saying currency like booze in effect on politics ends in destruction. George Washington said:
 

 

“Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them” — George Washington

In this quote, George Washington is continuing to express his skepticism about paper money and comparing its societal effects to the harmful impacts of alcohol on individual health.

His interpretation is that just as consuming liquor in excess can damage the human body over time, relying on paper currency without commodity backing will inevitably “prey on the vitals” or foundations of the political/economic system and “ultimately destroy them”.

Washington seems to view paper money as a corrosive force that will undermine key institutions and functions of society in the long run, similar to the slow deterioration caused by overindulging in spirits.

The overall message is one of warning about the insidious and corrupting influence Washington believed an unchecked paper money system could unleash, and his firm conviction that it would lead to political and economic ruin if left unconstrained.

Birthday: February 22, 1732 – Death: December 14, 1799

George Washington: Cash Ruins Commerce

George Washington Money Quotation saying his concerns over effects of paper money ruining business via fraud. George Washington said:
 

 

“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice” — George Washington

In this quote, George Washington is expressing strong skepticism about paper money and fiat currency not backed by precious metals like gold or silver.

His interpretation is that the use of paper money will inevitably lead economies to be “ruined”, with honest merchants and traders being unfairly burdened (“oppressed”), while at the same time enabling widespread corruption, deception and inequity (“every species of fraud and injustice”).

Washington seems to believe that removing the gold/silver standard behind a currency leaves it open to abuse and negative economic effects.

The overall message is one of Washington viewing paper money systems as prone to distorting commerce in harmful ways and benefiting the dishonest at the expense of the honest through a lack of inherent value and stability in an unbacked currency.

Birthday: February 22, 1732 – Death: December 14, 1799

George Washington: Custom of Saving

George Washington Money Quotation saying there is no value in cash that is collected only to keep the saver company or is left unused and unspent by anyone. George Washington said:
 

 

“It is not the custom with me to keep money to look at” — George Washington

In this quote, George Washington is conveying his view that money is meant to be used rather than simply accumulated and admired. The interpretation is that Washington sees currency as a medium of exchange rather than something to possess inertly for its own sake or value.

His perspective seems to be that the purpose of money is to facilitate transactions, investments and spending that benefit both the holder and broader economy/society, not to stockpile wealth idly without putting the funds to productive use.

The overall message is that Washington believed money was a tool to enable activity and progress, not an end in itself or something only to be possessed and regarded for its tangible form.

Birthday: February 22, 1732 – Death: December 14, 1799