Founding Fathers Quotes on How Central Banking is Destructive to America's Economic System
You're free to republish or share any of our articles (either in part or in full), which are licensed under a Creative Commons Attribution 4.0 International License. Our only requirement is that you give Ammo.com appropriate credit by linking to the original article. Spread the word; knowledge is power!
Central banking is such a core part of the American economic system that it’s hard to imagine a world without it. However, central banking in the United States is a very recent development – barely over a century old, established in 1913. The Founders warned against central banking, with Thomas Jefferson going so far as to say that he thought a prohibition against central banking was the only thing missing from the Constitution.
While no one could argue that the Founders were opponents of capitalism, they were deeply troubled by the prospect of unchecked speculative capitalism as opposed to productive capitalism. Thomas Jefferson considered central banking to be a bigger threat to liberty than standing armies. What a far cry from both ends of the political spectrum today, who see the needs of the financial sector as the starting point of domestic policy.

“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.”

“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.”

“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.”

“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”

“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”
Quotes: Founding Fathers
- Founding Fathers Quotes: Our Favorite Quotes from America's Courageous Revolutionaries
- Founding Fathers Quotes on Religious Freedom and the Separation Between Church & State
- Founding Fathers Quotes on Freedom of Speech and Freedom of Press in the First Amendment
- Founding Fathers Quotes on Guns and the Second Amendment's Right to Keep & Bear Arms
- Founding Fathers Quotes on Standing Armies and Quartering Troops in the Third Amendment
- Founding Fathers Quotes on Privacy, Search, and Seizures in the Fourth Amendment
- Founding Fathers Quotes on Due Process and Eminent Domain in the Fifth Amendment
- Founding Fathers Quotes on Criminal Justice and the Right to Counsel in the Sixth Amendment
- Founding Fathers Quotes on Civil Lawsuits and Common Law in the Seventh Amendment
- Founding Fathers Quotes on Excessive, Cruel or Unusual Punishment in the Eighth Amendment
- Founding Fathers Quotes on the Dangers of Centralized Power in the Ninth and Tenth Amendments
- Founding Fathers Quotes on the Importance of Physical Health and Exercise
- Founding Fathers Quotes on How Central Banking is Destructive to America's Economic System
- Founding Fathers Quotes on the Importance of Wisdom and Education in a Free Society
- Founding Fathers Quotes on the Limited Executive Powers of the United States Presidency
- Founding Fathers Quotes on Why America's Revolutionaries Fought For Liberty and Freedom
- Founding Fathers Quotes on Justice For All and Equal Treatment Under the Law
- Founding Fathers Quotes on Hope for Peace, Hesitation for War & Restrictions for Military
- Founding Fathers Quotes on Family, Friends, and Seeking Wisdom Through Relationships
- Founding Fathers Quotes on Politics, Patriotism, and the Importance of Putting America First
- Founding Fathers Quotes on the American Revolution and the Fighting Spirit for Independence
- Founding Fathers Quotes on Government, Democracy, and Placing Power in the People
- Founding Fathers Quotes on the Founding of the Nation and the United States Constitution