“If treasury bills are emitted on a tax appropriated for their redemption in fifteen years, and (to insure preference in the first moments of competition) bearing an interest of six per cent, there is no one who would not take them in preference to the bank paper now afloat, on a principle of patriotism as well as interest; and they would be withdrawn from circulation into private hoards to a considerable amount. Their credit once established, others might be emitted, bottomed also on a tax, but not bearing interest; and if ever their credit faltered, open public loans, on which these bills alone should be received as specie. These, operating as a sinking fund, would reduce the quantity in circulation, so as to maintain that in an equilibrium with specie. It is not easy to estimate the obstacles which, in the beginning, we should encounter in ousting the banks from their possession of the circulation; but a steady and judicious alternation of emissions and loans would reduce them in time.”

— Thomas Jefferson

ME http://www.yamaguchy.netfirms.com/7897401/jefferson/eppes.html 13:275 <br class="br">1810s, Letters to John Wayles Eppes (1813)

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Thomas Jefferson456

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

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“Treasury notes of small as well as high denomination, bottomed on a tax which would redeem them in ten years, would place at our disposal the whole circulating medium of the United States… The public… ought never more to permit its being filched from them by private speculators and disorganizers of the circulation.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Letter to William H. Crawford, 1815. ME 14:242
Posthumous publications, On financial matters

“I like well your idea of issuing treasury notes bearing interest, because I am persuaded they would soon be withdrawn from circulation and locked up in vaults & private hoards. It would put it in the power of every man to lend his 100. or 1000 d. tho’ not able to go forward on the great scale, and be the most advantageous way of obtaining a loan. The other idea of creating a National bank, I do not concur in, because it seems now decided that Congress has not that power, (altho’ I sincerely wish they had it exclusively) and because I think there is already a vast redundancy, rather than a scarcity of paper medium.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Letter to Thomas Law (6 November 1813) http://oll.libertyfund.org/Texts/Jefferson0136/Works/Vol11/0054-11_Pt07_1813.html#hd_lf054-11_head_125 FE 9:433 : The Writings of Thomas Jefferson (10 Vols., 1892-99) edited by Paul Leicester Ford <br class="br">1810s

“Necessity, as well as patriotism and confidence, will make us all eager to receive treasury notes, if founded on specific taxes. Congress may borrow of the public, and without interest, all the money they may want, to the amount of a competent circulation, by merely issuing their own promissory notes, of proper denominations for the larger purposes of circulation, but not for the small. Leave that door open for the entrance of metallic money.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Letter to Thomas Cooper, 1814. ME 14:189
Posthumous publications, On financial matters

“…this Budget represents a continuation of the policies which we have pursued consistently for nearly nine years, and which we will continue to pursue—a continuation of the steps that we have taken in nine previous Budgets, and of the major reforms that we have introduced in other fields, too, all of them designed to encourage and reward enterprise and so to liberate the energies of the British people. The tax changes in this Budget consolidate Britain's move from a high-tax country to a low-tax country, at all levels. Since 1979, the top rate of income tax has been cut from 83 per cent. to 40 per cent. The basic rate has been cut from 33 per cent. to 25 per cent. The corporation tax rate has been cut from 52 per cent. to 35 per cent. The small companies' rate has been cut from 42 per cent. to 25 per cent., and the 15 per cent. additional tax on savings income has been abolished altogether.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech http://hansard.millbanksystems.com/commons/1988/mar/21/budget-resolutions-and-economic-situation in the House of Commons (21 March 1988)

“First, we established incentives for those who were uninsured to buy insurance. Using tax penalties, as we did, or tax credits, as others have proposed, encourages "free riders" to take responsibility for themselves rather than pass their medical costs on to others. This doesn't cost the government a single dollar.”

Mitt Romney (1947) American businessman and politician

[2009-07-30, Mr. President, what's the rush?, USA Today, 7A, http://www.usatoday.com/printedition/news/20090730/column30_st.art.htm]
2009

“The schoolboy whips his taxed top; the beardless youth manages his taxed horse with a taxed bridle on a taxed road; and the dying Englishman, pouring his medicine, which has paid seven per cent, into a spoon that has paid fifteen per cent, flings himself back upon his chintz bed which has paid twenty-two per cent, and expires in the arms of an apothecary who has paid a license of a hundred pounds for the privilege of putting him to death.”

Sydney Smith (1771–1845) English writer and clergyman

"Review of Seybert’s Annals of the United States", published in The Edinburgh Review (1820)

“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 (1743–1826) 3rd President of the United States of America

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

“Except for the subserviency of most of the metropolitan newspapers, the great corporate interests would never have ventured upon the impudent, lawless consolidation of business, for the suppression of competition, the control of production, markets and prices.
Except for this monstrous crime, 65 per cent of all the wealth of this country would not now be centralized in the hands of 2 per cent of the people.”

Robert M. La Follette Sr. (1855–1925) American politician

"Fooling the People as a Fine Art", La Follette's Magazine (April 1918)

“Put down the banks, and if this country could not be carried through the longest war against her most powerful enemy without ever knowing the want of a dollar, without dependence on the traitorous classes of her citizens, without bearing hard on the resources of the people, or loading the public with an indefinite burden of debt, I know nothing of my countrymen. Not by any novel project, not by any charlatanerie, but by ordinary and well-experienced means; by the total prohibition of all private paper at all times, by reasonable taxes in war aided by the necessary emissions of public paper of circulating size, this bottomed on special taxes, redeemable annually as this special tax comes in, and finally within a moderate period.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Letter to Albert Gallatin, 1815. http://www.yamaguchy.netfirms.com/7897401/jefferson/gallatin1.html ME 14:356 <br class="br">Posthumous publications, On financial matters

“There is, in the institutions of this country, one principle, which, had they no other excellence, would secure to them the preference over those of all other countries. I mean — and some devout patriots will start — I mean the principle of change.”

Frances Wright (1795–1852) American activist

Independence Day speech (1828)
Context: There is, in the institutions of this country, one principle, which, had they no other excellence, would secure to them the preference over those of all other countries. I mean — and some devout patriots will start — I mean the principle of change.
I have used a word to which is attached an obnoxious meaning. Speak of change, and the world is in alarm. And yet where do we not see change? What is there in the physical world but change? And what would there be in the moral world without change?

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