“I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”

— Thomas Jefferson

Letter to John Taylor (28 May 1816) ME 15:23 http://www.britannica.com/presidents/article-9116907
1810s
Context: We may say with truth and meaning that governments are more or less republican, as they have more or less of the element of popular election and control in their composition; and believing, as I do, that the mass of the citizens is the safest depository of their own rights, and especially, that the evils flowing from the duperies of the people are less injurious than those from the egoism of their agents, I am a friend to that composition of government which has in it the most of this ingredient. And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

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Thomas Jefferson 456

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

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“The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”

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

“I believe that banking institutions are more dangerous to our liberties than standing armies.”

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

“I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.”

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

The earliest known appearance of this statement is from 1895 (Joshua Douglass, "Bimetallism and Currency", American Magazine of Civics, 7:256). It is apparently a combination of paraphrases or approximate quotations from three separate letters of Jefferson (longer excerpts in sourced section):
I sincerely believe, with you, that banking institutions are more dangerous than standing armies...
Letter to John Taylor (1816)
The bank mania...is raising up a moneyed aristocracy in our country which has already set the government at defiance...
Letter to Josephus B. Stuart (1817)
Bank paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.
Letter to John W. Eppes (1813)
Misattributed

“Men have been swindled by other men on many occasions. The autumn of 1929 was, perhaps, the first occasion when men succeeded on a large scale in swindling themselves.”

John Kenneth Galbraith book The Great Crash, 1929

Source: The Great Crash, 1929 (1954 and 1997 https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929), Chapter VII, Things Become More Serious, Section VIII, p. 130