A Quote by John C. Calhoun

What is a permanent loan but a mortgage upon the wealth and industry of the country? It is the only form of indebtedness, as experience has shown, by which heavy and durable encumbrance can be laid upon the community.

John C. Calhoun

Quote Topics

Community Country Durable Experience Form Heavy Indebtedness Industry Laid Loan Mortgage Only Permanent Shown Wealth Which

Quote Author

John C. Calhoun
American - Statesman
March 18, 1782 - March 31, 1850

The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.

Suze Orman

But though a funded debt is not in the first instance, an absolute increase of Capital, or an augmentation of real wealth; yet by serving as a New power in the operation of industry, it has within certain bounds a tendency to increase the real wealth of a Community, in like manner as money borrowed by a thrifty farmer, to be laid out in the improvement of his farm may, in the end, add to his Stock of real riches.

Alexander Hamilton

Redlining went beyond FHA-backed loans and spread to the entire mortgage industry, which was already rife with racism, excluding black people from most legitimate means of obtaining a mortgage.

Ta-Nehisi Coates

The most important thing in industry is the person who does the industry, which is the worker... Labor is the only source of wealth.

Eli Siegel

Except for a handful of banks that just keep a handful of their loans in portfolio, on their balance sheet, every other loan that's originated in the United States - whether from a bank, mortgage company, mortgage broker - is sold into the secondary market.

Dan Gilbert

Both HUD and the Department of Justice began bringing lawsuits against mortgage bankers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans. A substantial majority of both black and white mortgage loan applicants had their loans approved but a statistical difference was enough to get a bank sued.

Thomas Sowell

The only time I've ever taken out a loan is for the building work I had done at our house and I did that by extending the mortgage.

Andrea McLean

It's critical to level the playing field, to make prices and risks clear up front, so when someone signs on for a student loan or a mortgage or a credit card, they know the tricks and traps hidden in the fine print. That's why the Consumer Financial Protection Bureau has been working on a new financial aid shopping sheet. A shorter, two-page credit card agreement, a simpler mortgage disclosure form. All those are aimed toward helping people understand the basic bargain.

Elizabeth Warren

It would be well for those interested to reflect whether there now exists, or ever has existed, a wealthy and civilized community in which one portion did not live on the labor of another; and whether the form in which slavery exists in the South is not but one modification of this universal condition... Let those who are interested remember that labor is the only source of wealth, and how small a portion of it, in all old and civilized countries, even the best governed, is left to those by whose labor wealth is created.

John C. Calhoun

Righteousness, or justice, is, undoubtedly of all the virtues, the surest foundation on which to create and establish a new state. But there are two nobler virtues, industry and frugality, which tend more to increase the wealth, power and grandeur of the community, than all the others without them.

Benjamin Franklin

Experience has shown that the trade of the East is the key to national wealth and influence.

Chester A. Arthur

The man of wealth [should] consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer to produce the most beneficial results for the community - the man of wealth thus becoming the mere trustee and agent for his poorer brethren, bringing to their service his superior wisdom, experience and ability to administer, doing for them better than that they would or could do for themselves.

Andrew Carnegie

The only durable community is the one that embraces the whole planet, wild and tame . . .

Scott Sanders

Our country has shown a lack of will to resist its own disintegration .. . Canada is practically the only country left in the world which is a pure colony; colonial in psychology as well as in mercantile economics.

Northrop Frye

I thought that there would never again be an opportunity to be involved with an industry as socially destructive and morally bankrupt as the subprime mortgage industry. I was wrong. The for-profit education industry has proven equal to the task.