The public debt thoughts of Liang Qichao are very rich, and the public debt thought of this article is specially referred to his internal debt. The whole article elaborates several views of Liang Qichao's public debt thoughts by making use of modern finance and public debt economy theories, including the nature of public debt, the requirement of issuing public debt, the principle of borrowing the public debt, the use of the public debt and so on. At the same time, there are simple evaluations to them.