Thomas Jefferson On “Paper Money,” Reset

Until you really understand the history, words and the context of Thomas Jefferson’s letter to J.W. Eppes in 1813, we are doomed to repeat the same mistakes people have made, by ignoring those words, for the past 200 years.

“Paper money is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted.” … “Paper is already at a term of abuse in these States, which has never been reached by any other nation, France excepted, whose dreadful catastrophe should be a warning against the instrument which produced it.” … “The unlimited emission of bank paper has banished all Great Britain’s specie, and is now, by a depreciation acknowledged by her own statesmen, carrying her rapidly to bankruptcy, as it did France, as it did us, and will do us again, and every country permitting paper money to be circulated, other than that by public authority, rigorously limited to the just measure for circulation.” … “When I speak comparatively of the paper emission of the old Congress and the present banks, let it not be imagined that I cover them under the same mantle. The object of the former was a holy one; for if ever there was a holy war it was that which saved our liberties and gave us independence. The object of the latter is to enrich swindlers at the expense of the honest and industrious part of the nation.” — To J.W. Eppes, 1813

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