on public credit

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    On Public Creditby David HumeIt appears to have been the common practice of antiquity,make provision, during peace, for the necessities of war, and tohoard up treasures before-hand, as the instruments either ofconquest or defence; without trusting to extraordinaryimpositions, much less to borrowing, in times of disorder andconfusion. Besides the immense sums above mentioned, which wereamassed by ATHENS, and by the PTOLEMIES, and other successors ofALEXANDER; we learn from PLATO, that the frugal LACEDEMONIANS hadalso collected a great treasure; and ARRIAN and PLUTARCH takenotice of the riches which ALEXANDER got possession of on the...