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That we are overdone with banking institutions which have banished the precious metals and substituted a more fluctuating and unsafe medium, that these have withdrawn capital from useful improvements and employments to nourish idleness, that the wars of the world have swollen our commerce beyond the wholesome limits of exchanging our own productions for our own wants, and that, for the emolument of a small proportion of our society who prefer these demoralizing pursuits to labors useful to the whole, the peace of the whole is endangered and all our present difficulties produced, are evils more easily to be deplored than remedied.

Thomas Jefferson#58

BankingFinanceEconomyPolicyPeace

About this quote

What does it mean?
Excessive banking and war harm the economy and peace.
In plain terms
Bad finance and war hurt society more than they help.
What can you take from it?
Economic systems can damage public welfare.

Where it applies

  • policy reform
  • financial analysis
  • civic duty

Putting it to work

  • support sustainable finance
  • advocate for peace
  • review policies

Questions to consider

  • What economic reforms do you support?
  • How do finance and peace relate?

Another view

Banking is essential for modern economic activity.

More from Thomas Jefferson

  1. It has always been denied by the republican party in this country, that the Constitution had given the power of incorporation to Congress. On the establishment…

    Permalink to quote #57
  2. Knowing that religion does not furnish grosser bigots than law, I expect little from old judges.

    Permalink to quote #59
  3. Nothing was or is farther from my intentions, than to enlist myself as the champion of a fixed opinion, where I have only expressed doubt.

    Permalink to quote #56

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