“I am an enemy to all banks discounting bills or notes for anything but coin.”

—  Thomas Jefferson

Letter to Thomas Cooper, 1814. ME 14:61
Posthumous publications, On financial matters

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Thomas Jefferson456
3rd President of the United States of America 1743–1826

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“But it will be asked, are we to have no banks? Are merchants and others to be deprived of the resource of short accommodations, found so convenient? I answer, let us have banks; but let them be such as are alone to be found in any country on earth, except Great Britain. There is not a bank of discount on the continent of Europe (at least there was not one when I was there) which offers anything but cash in exchange for discounted bills.”

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