3329. FUNDING, Redemption and.—
Funding I consider as limited, rightfully, to
a redemption of the debt within the lives of a
majority of the generation contracting it;
every generation coming equally, by the laws
of the Creator of the world, to the free
possession of the earth He made for their subsistence,
unincumbered by their predecessors,
who, like them, were but tenants for life.—
To John Taylor. Washington ed. vi, 605.
Ford ed., x, 28.
(M.
May. 1816)
See Assumption of State Debts, Debt, Generations, and Hamilton.
