Tag Archives: Fiscal responsibility
[There was a hiccup in cyberspace, or in my brain, because this notice didn’t go out as it should have. Maybe this time?]
… the purchase of Louisiana will require the aid of all our resources to pay the interest of the additional debt without laying a new tax, and of course call for the adoption of every possible economy.
To Tobias Lear, July 14, 1803
Patrick Lee’s Explanation
Bold initiatives don’t always require tax increases.
Lear (1762-1816) was best known as George Washington’s personal secretary for the last 15 years of Washington’s life. Lear’s reputation was a checkered one, but he also served President Jefferson as commercial agent in St. Domingo and then as Consul General to several North African city-states. Lear’s duties in Algiers and Tripoli included ongoing negotiations to protect American shipping in the Mediterranean Sea. That protection was secured, in part, by annual payments to those nations. The President was intent on holding the line on, if not decreasing, those payments.
Why? In part, because he wanted to pay the interest on new debt for the purchase of Louisiana without a new tax. To do so would obviously require “every possible economy.”