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About this quote

What does it mean?
He urges state legislatures to stop chartering discount banks.
In plain terms
States should not make new discount banks.
What can you take from it?
Stop states from chartering discount banks.

Where it applies

  • legislation
  • banking policy

Putting it to work

  • legislative reform
  • banking bans

Questions to consider

  • Should states charter banks?
  • How to regulate state banking?

Another view

States often resist losing financial control.

More from Thomas Jefferson

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  2. Necessity, as well as patriotism and confidence, will make us all eager to receive treasury notes, if founded on specific taxes. Congress may borrow of the pub…

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  3. Our people... will give you all the necessaries of war they produce, if, instead of the bankrupt trash they now are obliged to receive for want of any other, y…

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