Vol. 8 - The Sanctity of the Public Purse (Part II)
“A wise and frugal Government... shall not take from the mouth of labor the bread it has earned.”
— Thomas Jefferson, 3rd President of the United States
Volume VII was a warning of the present danger of individuals and groups seeking to control the public purse for personal game. Let Volume VIII serve as a guide on how to solve the issues at hand.
We have seen in Redmont how the abuse of fiscal power can lead to decay. It is easy to understand how it can lead to tyranny. But fiscal ruin does not always come with a bang – it comes in a quiet tide of foreign exchange, over-borrowing, increased taxation, more spending, and the eventual collapse of the economy – and the weight of it crushes the populace.
A wise and frugal government is not merely efficient. It is just. And in Alexandria, we must insist on the philosophy of stewardship – where the budget is not a plaything of politics, nor a tool for private gain, but an instrument of service.
When the government taxes the people, the people expect their money to be spent wisely. If the government fails in this duty, the citizens will be rightly upset. The question must not be how much the government can afford to spend, but how little it can spend without neglecting its duty. As such, public programs must not be judged only by their intention, but by their effectiveness and cost. Ministries should be lean, transparent, and repeatedly reviewed. If a Ministry or public service does not serve the Kingdom, it should be reformed or retired. Waste is not neutral – it is the enemy of progress.
On the flip side, when the government cannot raise taxes, it is often tempting to simply print money or manipulate the supply. This may feel painless, but the pain will catch up eventually, in silence and cruelty. These actions cause inflation, eroding the value of everyone’s savings and labor.
Do not hear what is not written – there is certainly a place for such actions and inflation is not inherently negative, however, when choosing to pursue such options it must be carefully considered against alternative options. Overdoing it punishes savers, workers, and the prudent, only rewarding those who live by debt and speculation. A stable economy requires a stable currency, and a stable currency requires restraint, even when political appetite demands indulgence.
Alexandria cannot thrive on slogans, subsidies, and spiraling budgets. It must thrive on production, prudence, and principle. The sanctity of the public purse is not an accounting issue – it is a matter of moral and national survival. Let our leaders in government remember: they are not managing money. They are managing trust. And in the economy of a free people, trust is the highest currency of all.
– Veritas