“It is literally true that the toleration of banks of paper discount costs the United States one-half their war taxes; or, in other words, doubles the expenses of every war. Now think but for a moment, what a change of condition that would be, which should save half our war expenses, require but half the taxes, and enthral us in debt but half the time.”

— Thomas Jefferson

ME 13:364
1810s, Letters to John Wayles Eppes (1813)

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

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