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Quote by Thomas Jefferson

“Specie [gold and silver coin] is the most perfect medium because it will preserve its own level; because, having intrinsic and universal value, it can never die in our hands, and it is the surest resource of reliance in time of war.”

Quote by Thomas Jefferson

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This book offers an in-depth exploration of the life and literary contributions of a notable figure, providing readers with a detailed look into their personal journey and creative output. more

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Thomas Jefferson
Thomas Jefferson

Thomas Jefferson was the third President of the United States, a distinguished politician, philosopher, architect, and scientist. He was born on April 13, 1743, and died on July 4, 1826. Jefferson advocated for democracy and freedom in politics and was one of the main authors of the Declaration of Independence. His political ideas had a profound impact on the founding and development of the United States. more

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“The trifling economy of paper, as a cheaper medium, or its convenience for transmission, weighs nothing in opposition to the advantages of the precious metals it is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted.”

“Scenes are now to take place as will open the eyes of credulity and of insanity itself, to the dangers of a paper medium abandoned to the discretion of avarice and of swindlers.”

“Private fortunes, in the present state of our circulation, are at the mercy of those self-created money lenders, and are prostrated by the floods of nominal money with which their avarice deluges us.”

“All the capital employed in paper speculation is barren and useless, producing, like that on a gaming table, no accession to itself, and is withdrawn from commerce and agriculture where it would have produced addition to the common mass It nourishes in our citizens habits of vice and idleness instead of industry and morality It has furnished effectual means of corrupting such a portion of the legislature as turns the balance between the honest voters whichever way it is directed.”

“It is a cruel thought, that, when we feel ourselves standing on the firmest ground in every respect, the cursed arts of our secret enemies, combining with other causes, should effect, by depreciating our money, what the open arms of a powerful enemy could not.”

“The monopoly of a single bank is certainly an evil. The multiplication of them was intended to cure it; but it multiplied an influence of the same character with the first, and completed the supplanting the precious metals by a paper circulation. Between such parties the less we meddle the better.”

“The system of banking have[for]ever reprobated. I contemplate it as a blot left in all our Constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens.”