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THOMAS JEFFERSON ON BANKING INSTITUTIONS
An E-Sylum reader forwarded this quote from Thomas Jefferson, who was known for his anti-bank stance. In light of recent economic developments, perhaps he's looking down with a smug "I told you so" grin. -Editor
Thomas Jefferson, 1802:
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
Wayne Homren, Editor
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