“Instead of funding issues of paper on the hypothecation of specific redeeming taxes (the only method of anticipating, in a time of war, the resources of times of peace, tested by the experience of nations), we are trusting to tricks of jugglers on the cards, to the illusions of banking schemes for the resources of the war, and for the cure of colic to inflations of more wind.”

— Thomas Jefferson

Letter to José Correia da Serra (1814) ME 14:224
Posthumous publications, On financial matters

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Thomas Jefferson 456

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

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“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
Posthumous publications, On financial matters

“At the beginning of World War II the U. S. had a mere 600 or so first-class fighting aircraft. We rapidly overcame this short supply by turning out more than 90,000 planes a year. The question at the start of World War II was: Do we have enough funds to produce the required implements of war? The answer was No, we did not have enough money, nor did we have enough gold; but we did have more than enough resources. It was the available resources that enabled the US to achieve the high production and efficiency required to win the war. Unfortunately this is only considered in times of war.”

Jacque Fresco (1916–2017) American futurist and self-described social engineer

“A great European war under modern conditions would be a catastrophe for which previous wars afforded no precedent. In old days nations could collect only portions of their men and resources at a time and dribble them out by degrees. Under modern conditions whole nations could be mobilized at once and their whole life-blood and resources poured out in a torrent.”

Edward Grey, 1st Viscount Grey of Fallodon (1862–1933) British Liberal statesman

Recalling his thoughts of July 1914 on the prospect of war with Germany.
Twenty-five Years (1925)
Context: A great European war under modern conditions would be a catastrophe for which previous wars afforded no precedent. In old days nations could collect only portions of their men and resources at a time and dribble them out by degrees. Under modern conditions whole nations could be mobilized at once and their whole life-blood and resources poured out in a torrent. Instead of a few hundreds of thousands of men meeting each other in war, millions would now meet, and modern weapons would multiply manifold the power of destruction. The financial strain and the expenditure of wealth would be incredible. I thought this must be obvious to everyone else, as it seemed obvious to me; and that, if once it became apparent that we were on the edge, all the Great Powers would call a halt and recoil from the abyss.

“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)

“While conditions in the United States because of the World War are serious, they are so much better than in the years following the close of the Civil War, that we who have had the double experience can be greatly encouraged. Then one-half of our country was devastated, its industries destroyed or paralyzed; now we are united and stronger in every way. Then we had a paper currency and a dangerous inflation, now we are on a gold standard and with an excellent banking and credit system. The development of our resources and wonderful inventions and discoveries since the Civil War place us in the foremost position to enter upon world commerce when all other nations have come as they must to co-operation and co-ordination upon lines for the preservation of peace and the promotion of international prosperity.”

Chauncey Depew (1834–1928) American politician

My Memories of Eighty Years (1922), p. 352

“It is high time we treated drug abuse and terrorism as diseases instead of wars -- curing the patients rather than killing them.”

Newton Lee American computer scientist

Google It: Total Information Awareness, 2016

“The fruit of success in all these tasks would present the world with the greatest task, and the greatest opportunity, of all. It is this: the dedication of the energies, the resources, and the imaginations of all peaceful nations to a new kind of war. This would be a declared total war, not upon any human enemy but upon the brute forces of poverty and need. The peace we seek, founded upon decent trust and cooperative effort among nations, can be fortified, not by weapons of war but by wheat and by cotton, by milk and by wool, by meat and timber and rice.”

Dwight D. Eisenhower (1890–1969) American general and politician, 34th president of the United States (in office from 1953 to 1961)

1950s, The Chance for Peace (1953)
Context: The details of such disarmament programs are manifestly critical and complex. Neither the United States nor any other nation can properly claim to possess a perfect, immutable formula. But the formula matters less than the faith -- the good faith without which no formula can work justly and effectively. The fruit of success in all these tasks would present the world with the greatest task, and the greatest opportunity, of all. It is this: the dedication of the energies, the resources, and the imaginations of all peaceful nations to a new kind of war. This would be a declared total war, not upon any human enemy but upon the brute forces of poverty and need. The peace we seek, founded upon decent trust and cooperative effort among nations, can be fortified, not by weapons of war but by wheat and by cotton, by milk and by wool, by meat and timber and rice. These are words that translate into every language on earth. These are the needs that challenge this world in arms.

“Our people… will give you all the necessaries of war they produce, if, instead of the bankrupt trash they now are obliged to receive for want of any other, you will give them a paper promise funded on a specific pledge, and of a size for common circulation.”

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

Letter to James Monroe, 1815. ME 14:228
Posthumous publications, On financial matters

“War may achieve a redistribution of resources, but labor, not war, creates wealth.”

Kenneth N. Waltz book Man, the State, and War

Source: Man, the State, and War (1959), Chapter VIII, Conclusion, p. 224

“We have depended on donor countries for scientific development for so long. It's time we commit more resources in our national budget to advance science and technology.”

Bingu wa Mutharika (1934–2012) politician and economist (1934-2012)

Source: Bingu wa Mutharika (2007) cited in: " Malawi president makes post-summit pledges https://www.scidev.net/global/news/malawi-president-makes-postsummit-pledges/" in SciDev.Net, 1 February 2007.

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