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By George Washington

As a very important source of strength & security cherish public credit. One method of preserving it is to use it as sparingly as possible: avoiding occasions of expence by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it—avoiding likewise the accumulation of debt, not only by shunning occasions of expence, but by vigorous exertions in time of Peace to discharge the Debts which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burthen which we ourselves ought to bear.

Source
Farewell Address, September 19, 1796 · The Papers of George Washington, Presidential Series, vol. 20, pp. 703-722
Read at
Founders Online, National Archives

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Washington's Farewell Address, dated September 19, 1796. The text here follows the Washington Papers' transcription, which keeps his abbreviations and spelling, so it differs slightly from the printed version. Earlier drafts were written by Madison in 1792 and Hamilton in 1796.

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