Thomas Jefferson
Thomas Jefferson
Thomas Jeffersonwas an American Founding Father who was the principal author of the Declaration of Independence. He was elected the second Vice President of the United States, serving under John Adams and in 1800 was elected the third President. Jefferson was a proponent of democracy, republicanism, and individual rights, which motivated American colonists to break from Great Britain and form a new nation. He produced formative documents and decisions at both the state and national level...
NationalityAmerican
ProfessionUS President
Date of Birth13 April 1743
CityShadwell, VA
CountryUnited States of America
When earth is rich it bids defiance to droughts, yields in abundance and of the best quality.
The general desire of men to live by their heads rather than their hands, and the strong allurements of great cities to those who have any turn for dissipation, threaten to make them here, as in Europe, the sinks of voluntary misery.
The monopoly of a single bank is certainly an evil. The multiplication of them was intended to cure it; but it multiplied an influence of the same character with the first, and completed the supplanting the precious metals by a paper circulation. Between such parties the less we meddle the better.
It is a cruel thought, that, when we feel ourselves standing on the firmest ground in every respect, the cursed arts of our secret enemies, combining with other causes, should effect, by depreciating our money, what the open arms of a powerful enemy could not.
All the capital employed in paper speculation is barren and useless, producing, like that on a gaming table, no accession to itself, and is withdrawn from commerce and agriculture where it would have produced addition to the common mass It nourishes in our citizens habits of vice and idleness instead of industry and morality It has furnished effectual means of corrupting such a portion of the legislature as turns the balance between the honest voters whichever way it is directed.
Private fortunes, in the present state of our circulation, are at the mercy of those self-created money lenders, and are prostrated by the floods of nominal money with which their avarice deluges us.
Scenes are now to take place as will open the eyes of credulity and of insanity itself, to the dangers of a paper medium abandoned to the discretion of avarice and of swindlers.
It is a [disputed] question, whether the circulation of paper, rather than of specie [gold and silver coin], is a good or an evil I believe it to be one of those cases where mercantile clamor will bear down reason, until it is corrected by ruin.
Specie [gold and silver coin] is the most perfect medium because it will preserve its own level; because, having intrinsic and universal value, it can never die in our hands, and it is the surest resource of reliance in time of war.
Experience has proved to us that a dollar of silver disappears for every dollar of paper emitted.
No other depositories of power [but the people themselves] have ever yet been found, which did not end in converting to their own profit the earnings of those committed to their charge.
There is... an artificial aristocracy founded on wealth and birth, without either virtue or talents... The artificial aristocracy is a mischievous ingredient in government, and provision should be made to prevent its ascendency.
The people, especially when moderately instructed, are the only safe, because the only honest, depositaries of the public rights, and should therefore be introduced into the administration of them in every function to which they are sufficient; they will err sometimes and accidentally, but never designedly, and with a systematic and persevering purpose of overthrowing the free principles of the government.
No government can continue good, but under the control of the people.