Quotes About Foreign loans

The paper currency was depreciating rapidly. Hence, for the first time, Hamilton began to fiddle with ideas for creating a national bank, through a mixture of foreign loans and private subscriptions.

Japan's economy had remained strong. So called 'Dutch' learning- useful Western knowledge- was circulating in Japan well before Commodore Perry's arrival. A strong local tradition of banker-merchants and an efficient tax collection system meant that the Japanese economy was not crippled by foreign loans of the kind that banished Egypt, the first non-Western country to modernize, to the ranks of permanent losers in the international economy.