Quotations: American Founders

Here are several quotations expressed by American founders that reflect their concerns about the potential for distrust in government and banks:

  1. Thomas Jefferson: "I believe that banking institutions are more dangerous to our liberties than standing armies." (Letter to John Taylor, 1816)

  2. Thomas Jefferson: "If the American people ever allow private banks to control the issue of their currency, first by inflation, 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." (Letter to Secretary of the Treasury Albert Gallatin, 1802)

  3. James Madison: "The power to regulate the value of money is so important that I regard it as one of the most essential powers of government." (Speech to Congress, 1790)

  4. George Washington: "Paper money has had the effect in your state that it ever will have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." (Letter to Jabez Bowen, 1789)

  5. Benjamin Franklin: "When the people find that they can vote themselves money, that will herald the end of the republic." (Unknown source)

  6. Alexander Hamilton: "In all questions of taxation and finance, commerce and general policy, it is of importance to the interests of the United States, that their Government should have a credit." (Report on Public Credit, 1790)

These quotations reflect the concerns of the American founders regarding the potential dangers and abuses associated with concentrated power in government and financial institutions.

They emphasize the importance of maintaining public trust, sound monetary policies, and the need for checks and balances to protect individual liberties.

On managing the budget and the overall economy:

  1. Limited Government Spending: The founders generally believed in limited government intervention and emphasized the importance of fiscal responsibility. They would likely advocate for prudent management of public funds, avoiding excessive government spending, and reducing budget deficits to maintain a sustainable fiscal position.

  2. Sound Money and Stable Currency: The founders recognized the importance of a stable currency and the perils of excessive inflation. They would likely emphasize the need for responsible monetary policies that prioritize price stability, avoid currency debasement, and protect the value of the national currency.

  3. Free Market Principles: The founders were generally advocates of free markets and limited government intervention in economic affairs. They would likely stress the importance of fostering an environment conducive to entrepreneurship, innovation, and free trade. They might advise against excessive regulation that stifles economic growth and encourages cronyism.

  4. Protection of Property Rights: The founders valued property rights as a fundamental pillar of economic prosperity. They would likely emphasize the protection of private property rights and the enforcement of contracts to encourage investment, entrepreneurship, and wealth creation.

  5. Avoidance of Excessive Debt: The founders understood the dangers of excessive public debt and its long-term consequences. They would likely caution against the accumulation of unsustainable debt levels and advocate for responsible borrowing practices that prioritize long-term fiscal sustainability.

  6. Civic Engagement and Accountability: The founders believed in an engaged and informed citizenry. They would likely encourage active civic participation, transparency in government decision-making, and holding elected officials accountable for their actions. They might stress the importance of an informed electorate to ensure responsible economic policies.

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