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About this quote

What does it mean?
Jefferson suggests offering war supplies in exchange for paper currency backed by specific pledges rather than worthless trash.
In plain terms
Trade war supplies for real paper money backed by a pledge, not worthless currency.
What can you take from it?
Trade goods for backed currency to avoid worthless money.

Where it applies

  • war financing
  • trade negotiations
  • currency reform

Putting it to work

  • issuing bonds
  • supplying armies

Questions to consider

  • What makes money valuable?
  • How do you fund a war?

Another view

Paper promises can still fail if the pledge is not honored.

More from Thomas Jefferson

  1. Put down the banks, and if this country could not be carried through the longest war against her most powerful enemy without ever knowing the want of a dollar,…

    Permalink to quote #178
  2. Instead of funding issues of paper on the hypothecation of specific redeeming taxes (the only method of anticipating, in a time of war, the resources of times …

    Permalink to quote #180
  3. In order to be able to meet a general combination of the banks against us in a critical emergency, could we not make a beginning towards an independent use of …

    Permalink to quote #177

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