A Grammar of American Politics: The National Government

By Wilfred E. Binkley; Malcolm C. Moos | Go to book overview

CHAPTER XXVII
FEDERAL FINANCE: TAXATION, DEBTS, AND TREASURY MANAGEMENT

by JAMES A. MAXWELL

More than one hundred and seventy years ago Adam Smith declared the first duty of government to be "that of protecting the society from the violence and invasion of other independent societies."1 The United States, isolated from Europe and Asia by two oceans, has been one of the most peaceful of great nations. It comes, therefore, as a shock to realize that this "first duty" has been by all odds the most important function-measured by expenditure-of the Federal government of the United States. And this has been true even in Years of peace. At such times the nation has had to provide a large budget For defense either to safeguard against future aggression or to pay for Past wars (see Table 1).


TABLE 1
Defense Expenditure of the Federal Government in Years of Peace*
DefenseTotalPercentage
(In Millions of Dollars)for Defense
18116.68.280
183111.215.274
1891236.8355.467
19212,458.84,322.057
19417,731.013,765.051
*Precise figures of defense expenditures are not available. This table counts as such expenditure that for the military and naval establishments, for veterans, and for interest on the Federal debt. A small amount of the public debt was not incurred for purposes of defense and for this reason the figures of expenditure for defense may be thought to be too high. But this over-estimate is counterbalanced by the failure to include other expenditures (because they cannot be isolated) which should be charged to defense.
____________________
1
Adam Smith: Wealth of Nations ( New York, 1904), Book V, chap. 1.

-531-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
A Grammar of American Politics: The National Government
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 789

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.