“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.”

ME 13:277
1810s, Letters to John Wayles Eppes (1813)

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "But it will be asked, are we to have no banks? Are merchants and others to be deprived of the resource of short accommo…" by Thomas Jefferson?

Thomas Jefferson456

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

Related quotes

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

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

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

“To the existence of banks of discount for cash… there can be no objection, because there can be no danger of abuse, and they are a convenience both to merchants and individuals. I think they should even be encouraged, by allowing them a larger than legal interest on short discounts, and tapering thence, in proportion as the term of discount is lengthened, down to legal interest on those of a year or more. Even banks of deposit, where cash should be lodged, and a paper acknowledgment taken out as its representative, entitled to a return of the cash on demand, would be convenient for remittances, travelling persons, etc. But, liable as its cash would be to be pilfered and robbed, and its paper to be fraudulently re-issued, or issued without deposit, it would require skilful and strict regulation.”

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

ME 13:431
1810s, Letters to John Wayles Eppes (1813)

“No one has a natural right to the trade of a money lender, but he who has the money to lend. Let those then among us who have a moneyed capital and who prefer employing it in loans rather than otherwise, set up banks and give cash or national bills for the notes they discount. Perhaps, to encourage them, a larger interest than is legal in the other cases might be allowed them, on the condition of their lending for short periods only.”

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

ME 13:277
1810s, Letters to John Wayles Eppes (1813)

“In addition to relative indifference to the fate of the euro area, Britain is more protected because of speculation the central bank may intervene directly to finance the debt … Europe is not a cash box, let alone a cashpoint.”

François Hollande (1954) 24th President of the French Republic

As quoted in "New French leader fires a broadside at Britain: You only care about the City of London, says President Hollande" http://www.dailymail.co.uk/news/article-2141040/Francois-Hollande-French-president-says-Britain-cares-City.html (8 May 2012), Daily Mail.

“And many of the people who buy or found banks have had no experience in banking at all. If they can learn it, so can we.”

Penny Lernoux (1940–1989) American writer and journalist

In Banks We Trust (1984).

“In order to be able to meet a general combination of the banks against us in a critical emergency, could we not make a beginning towards an independent use of our own money, towards holding our own bank in all the deposits where it is received, and letting the treasurer give his draft or note for payment at any particular place, which, in a well-conducted government, ought to have as much credit as any private draft or bank note or bill, and would give us the same facilities which we derive from the banks?”

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

Letter to Albert Gallatin, 1803. http://www.yamaguchy.netfirms.com/7897401/jefferson/gallatin.html ME 10:439 <br class="br">Posthumous publications, On financial matters

“What is the burgling of a bank to the founding of a bank?”

Bertolt Brecht The Threepenny Opera

Macheath, in Act 3, scene 3, p. 92
The Threepenny Opera (1928)

“The States should be urged to concede to the General Government, with a saving of chartered rights, the exclusive power of establishing banks of discount for paper.”

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

ME http://www.yamaguchy.netfirms.com/7897401/jefferson/eppes2.html 13:431 <br class="br">1810s, Letters to John Wayles Eppes (1813)

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations which grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

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

Respectfully Quoted says this is "obviously spurious", noting that the OED's earliest citation for the word "deflation" is from 1920. The earliest known appearance of this quote is from 1935 (Testimony of Charles C. Mayer, Hearings Before the Committee on Banking and Currency, House of Representatives, Seventy-fourth Congress, First Session, on H.R. 5357, p. 799)
Misattributed

“Political scientists don't work at banks—which is a problem. As political issues become more important for the markets, analysts at banks are asked all sorts of questions they don't have the ability to answer. And if you're getting paid to answer questions—as analysts at banks are—you never want to be in the position of saying you don't know.”

Ian Bremmer (1969) American political scientist

"Diary of a Political Scientist," http://www.slate.com/id/2094743/entry/2095060/ Slate (February 5, 2004).

Help us to complete the source, original and additional information

Thomas Jefferson456

Related quotes

Related topics