All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.
About this quote
- What does it mean?
- Adams blames America's problems on misunderstanding money, credit, and circulation rather than moral failings.
- In plain terms
- Economic ignorance, not lack of virtue, causes America's troubles.
- What can you take from it?
- Improve public financial literacy to address national issues.
Where it applies
Putting it to work
Questions to consider
- How much does financial knowledge affect civic stability?
- What other factors contribute to national distress?
Another view
Moral and political factors also influence national outcomes.
More from John Adams
You will never be alone with a poet in your pocket.
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