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We may say with truth and meaning that governments are more or less republican, as they have more or less of the element of popular election and control in their composition; and believing, as I do, that the mass of the citizens is the safest depository of their own rights, and especially, that the evils flowing from the duperies of the people are less injurious than those from the egoism of their agents, I am a friend to that composition of government which has in it the most of this ingredient. And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

Thomas Jefferson#86

PoliticsFreedomBankingEconomyRightsDebtDemocracy

About this quote

What does it mean?
Jefferson argues that popular control in government protects rights better than elite rule, and warns against national banking and debt.
In plain terms
Popular control protects rights better than elites; banks are dangerous.
What can you take from it?
Prioritize public control over banks.

Where it applies

  • policy debate
  • constitutional study
  • economics

Putting it to work

  • support public oversight
  • reduce public debt

Questions to consider

  • Who should control government?
  • Are banks too powerful?

Another view

Popular control can also be unstable or manipulated.

More from Thomas Jefferson

  1. The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our Constitutions, which, if not covered, will end in th…

    Permalink to quote #85
  2. Our legislators are not sufficiently apprized of the rightful limits of their power; that their true office is to declare and enforce only our natural rights..…

    Permalink to quote #87
  3. Enlighten the people generally, and tyranny and oppressions of body and mind will vanish like evil spirits at the dawn of day.

    Permalink to quote #84

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