Book contents
- Frontmatter
- Contents
- Acknowledgements
- Introduction
- Chronology
- Bibliographical notes
- A note on the text and the edition
- Biographical notes
- Bibliography
- Political Essays
- 1 Of the liberty of the press
- 2 That politics may be reduced to a science
- 3 Of the first principles of government
- 4 Of the origin of government
- 5 Of the independency of Parliament
- 6 Whether the British government inclines more to absolute monarchy, or to a republic
- 7 Of parties in general
- 8 Of the parties of Great Britain
- 9 Of superstition and enthusiasm
- 10 Of civil liberty
- 11 Of the rise and progress of the arts and sciences
- 12 Of national characters
- 13 Of commerce
- 14 Of refinement in the arts
- 15 Of money
- 16 Of interest
- 17 Of the balance of trade
- 18 Of the jealousy of trade
- 19 Of the balance of power
- 20 Of taxes
- 21 Of public credit
- 22 Of some remarkable customs
- 23 Of the original contract
- 24 Of passive obedience
- 25 Of the coalition of parties
- 26 Of the Protestant succession
- 27 Idea of a perfect commonwealth
- Appendix: Excerpts from Hume's History of England
- Notes
- Index
- Title in the Series
21 - Of public credit
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Contents
- Acknowledgements
- Introduction
- Chronology
- Bibliographical notes
- A note on the text and the edition
- Biographical notes
- Bibliography
- Political Essays
- 1 Of the liberty of the press
- 2 That politics may be reduced to a science
- 3 Of the first principles of government
- 4 Of the origin of government
- 5 Of the independency of Parliament
- 6 Whether the British government inclines more to absolute monarchy, or to a republic
- 7 Of parties in general
- 8 Of the parties of Great Britain
- 9 Of superstition and enthusiasm
- 10 Of civil liberty
- 11 Of the rise and progress of the arts and sciences
- 12 Of national characters
- 13 Of commerce
- 14 Of refinement in the arts
- 15 Of money
- 16 Of interest
- 17 Of the balance of trade
- 18 Of the jealousy of trade
- 19 Of the balance of power
- 20 Of taxes
- 21 Of public credit
- 22 Of some remarkable customs
- 23 Of the original contract
- 24 Of passive obedience
- 25 Of the coalition of parties
- 26 Of the Protestant succession
- 27 Idea of a perfect commonwealth
- Appendix: Excerpts from Hume's History of England
- Notes
- Index
- Title in the Series
Summary
It appears to have been the common practice of antiquity, to make provision, during peace, for the necessities of war, and to hoard up treasures before-hand, as the instruments either of conquest or defence; without trusting to extraordinary impositions, much less to borrowing, in times of disorder and confusion. Besides the immense sums above mentioned, which were amassed by Athens, and by the Ptolemies, and other successors of Alexander; we learn from Plato, that the frugal Lacedemonians had also collected a great treasure; and Arrian and Plutarch take notice of the riches which Alexander got possession of on the conquest of Susa and Ecbatana, and which were reserved, some of them, from the time of Cyrus. If I remember right the scripture also mentions the treasure of Hezekiah and the Jewish princes; as profane history does that of Philip and Perseus, kings of Macedon. The ancient republics of Gaul had commonly large sums in reserve. Every one knows the treasure seized in Rome by Julius Caesar, during the civil wars; and we find afterwards, that the wiser emperors, Augustus, Tiberius, Vespasian, Severus &c. always discovered the prudent foresight, of saving great sums against any public exigency.
On the contrary, our modern expedient, which has become very general, is to mortgage the public revenues, and to trust that posterity will pay off the incumbrances contracted by their ancestors: And they, having before their eyes, so good an example of their wise fathers, have the same prudent reliance on their posterity; who, at last, from necessity more than choice, are obliged to place the same confidence in a new posterity.
- Type
- Chapter
- Information
- Hume: Political Essays , pp. 166 - 178Publisher: Cambridge University PressPrint publication year: 1994