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A collection of quotes from America's Founding Fathers. selected economists and a few notable contemporary leaders.
All the perplexities confusion and distress in America arise not from defects of the constitution, not from want of honor or virtue, so much as from downwright ignorance of the nature of coin, credit and circulation. - John Adams, in a letter to Thomas Jefferson in 1787
If the American people ever allow private banks to control the isue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. - Thomas Jefferson
Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes him with paper money. - Daniel Webster
The colonies would have gladly born the little tax on tea, and other matters, had it not been that England took away from the colonies their money. - Benjamin Franklin
This is a favorable moment to shut and bar the door against paper money. The mischeif of the various experiments which have been made are now fresh in the public mind and have excited the disgust of all the respectable parts of America. - Olivar Ellsworth, a delegate from Connecticut, who later became this nation's third Chief Justice of the Supreme Court.
I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money arstocaracy that has set the goverment at defiance. - Thomas Jefferson, at the Constitutional Convention (1787)
It's apparent from the whole context of the Constitution as well as the history of the times which gave birth to it, that it was the purpose of the Convention to establish as currency consisting of the precious metals. These were adopted by a permanent rule excuding the use of a perishable medium of exchange, such as of certain aricultural commodities recongnized by the statutes of some states as tender for debts, or the still more pernicious expedient of paper currency. - President Andrew Jackson, 8th Annual Message to Congress (December 5, 1836)
If what is used as a Medium of exchange is fluctuating in its Value it is no better than unjust Weights and measures, both which are comdemmed by the laws of GOD and Man, and therefore the longest and most universal Custom could never make the Use of such a Medium either lawful or reasonable. - Roger sherman, a delegate from Connecticut and author of the gold and sivler coin provision of the Constitution, wrote a scathing condemnation of paper money entitled" A Caveat (warning) Against Injustice"
All the perplexities confusion and distress in America arise not from defects of the constitution, not from want of honor or virtue, so much as from downwright ignorance of the nature of coin, credit and circulation. - John Adams, in a letter to Thomas Jefferson in 1787
If the American people ever allow private banks to control the isue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. - Thomas Jefferson
Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes him with paper money. - Daniel Webster
The colonies would have gladly born the little tax on tea, and other matters, had it not been that England took away from the colonies their money. - Benjamin Franklin
This is a favorable moment to shut and bar the door against paper money. The mischeif of the various experiments which have been made are now fresh in the public mind and have excited the disgust of all the respectable parts of America. - Olivar Ellsworth, a delegate from Connecticut, who later became this nation's third Chief Justice of the Supreme Court.
I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money arstocaracy that has set the goverment at defiance. - Thomas Jefferson, at the Constitutional Convention (1787)
It's apparent from the whole context of the Constitution as well as the history of the times which gave birth to it, that it was the purpose of the Convention to establish as currency consisting of the precious metals. These were adopted by a permanent rule excuding the use of a perishable medium of exchange, such as of certain aricultural commodities recongnized by the statutes of some states as tender for debts, or the still more pernicious expedient of paper currency. - President Andrew Jackson, 8th Annual Message to Congress (December 5, 1836)
If what is used as a Medium of exchange is fluctuating in its Value it is no better than unjust Weights and measures, both which are comdemmed by the laws of GOD and Man, and therefore the longest and most universal Custom could never make the Use of such a Medium either lawful or reasonable. - Roger sherman, a delegate from Connecticut and author of the gold and sivler coin provision of the Constitution, wrote a scathing condemnation of paper money entitled" A Caveat (warning) Against Injustice"