"Every kind of loan proves infirmity in the State and a want of understanding of the rights of the State. Loans hang like a sword of Damocles over the heads of ruler, who instead of taking from their subjects by a temporary tax, come begging with outstretched palm of our bankers. Foreign loans are leeches which there is no possibility of removing from the body of the State until they fall off of themselves or the State flings them off. But the goy States do not tear them off; they go on in persisting in putting more on to themselves so that they must inevitably perish, drained by voluntary blood-letting."