Put down all banks, admit none but a metallic circulation that will take its proper level with the like circulation in other countries, and then our manufacturers may work in fair competition with those of other countries, and the import duties which the government may lay for the purposes of revenue will so far place them above equal competition.
About this quote
- What does it mean?
- Jefferson argues that adopting a metal-based currency aligned with international standards would ensure fair trade for manufacturers. He believes this would allow the government to impose revenue tariffs without harming competitive equality.
- In plain terms
- Use metal money like other countries so local makers can compete fairly while the government collects taxes.
- What can you take from it?
- Standardize currency to ensure fair international trade competition.
Where it applies
Putting it to work
Questions to consider
- How does currency type affect national competitiveness?
- Can fair trade exist without standardized money?
Another view
The quote assumes metal circulation is feasible and ignores modern complexities of global finance.
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