He remembered poor Julian [actually F. Scott Fitzgerald] and his romantic awe of them and how he had started a story once that began, "The very rich are different from you and me." And how someone had said to Julian, "Yes, they have more money."
Well, fancy giving money to the Government! Might as well have put it down the drain. Fancy giving money to the Government! Nobody will see the stuff again. Well, they've not idea what money's for- Ten to one they'll start another war. I've heard a lot of silly things, but, Lor'! Fancy giving money to the Government!
Money nowadays is money; money brings office; money gains friends; everywhere the poor man is down.
[Lat., In pretio pretium nunc est; dat census honores,
Census amicitias; pauper ubique jacet.]
This is Wall Street, and today is important. Because tomorrow, July 4th, I intended to make my first million dollars--an excitingday in a man's life. The enterprise was slightly illegal.
What we also have to recognize is that the deficit levels that I'm inheriting, over a trillion dollars, coming out of last year, that that is unsustainable. At a certain point, other countries stop buying our debt, at a certain point, we'd end up having to raise interest rates, and it would end up creating more economic chaos and potentially inflation.