I am an enemy to all banks discounting bills or notes for anything but coin.
About this quote
- What does it mean?
- He opposes banks that discount notes unless backed by coin.
- In plain terms
- Banks should only deal in coin not paper notes.
- What can you take from it?
- Avoid banks that discount notes with paper.
Where it applies
Putting it to work
Questions to consider
- Is paper money safe?
- What makes a bank sound?
Another view
Pure coin systems lack flexibility for trade.
More from Thomas Jefferson
Certainly no nation ever before abandoned to the avarice and jugglings of private individuals to regulate according to their own interests, the quantum of circ…
Permalink to quote #190 The principle of rotation... in the body of [bank] directors... breaks in upon the esprit de corps so apt to prevail in permanent bodies; it gives a chance for…
Permalink to quote #192 Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that su…
Permalink to quote #189
Related quotes
I hate banks. They do nothing positive for anybody except take care of themselves. They're first in with their fees and first out when there's trouble.
Earl WarrenEarl Warren quote #9 An American credit card...is just as good in Europe as American gold used to be.
Edward BellamyEdward Bellamy quote #15 If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good also. The difference between the b…
Thomas Alva EdisonThomas Alva Edison quote #21