“The monopoly of a single bank is certainly an evil. The multiplication of them was intended to cure it; but it multiplied an influence of the same character with the first, and completed the supplanting the precious metals by a paper circulation. Between such parties the less we meddle the better.”

— Thomas Jefferson

Letter to Albert Gallatin, 1802. ME 10:323
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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“Bank paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.”

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

11 September 1813, ME 13:361
1810s, Letters to John Wayles Eppes (1813)
Context: The question will be asked and ought to be looked at, what is to be the resource if loans cannot be obtained? There is but one, "Carthago delenda est." Bank paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs. It is the only fund on which they can rely for loans; it is the only resource which can never fail them, and it is an abundant one for every necessary purpose. Treasury bills, bottomed on taxes, bearing or not bearing interest, as may be found necessary, thrown into circulation will take the place of so much gold and silver, which last, when crowded, will find an efflux into other countries, and thus keep the quantum of medium at its salutary level. Let banks continue if they please, but let them discount for cash alone or for treasury notes.

“Put down all banks, admit none but a metallic circulation that will take its proper level with the like circulation in other countries, and then our manufacturers may work in fair competition with those of other countries, and the import duties which the government may lay for the purposes of revenue will so far place them above equal competition.”

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

Letter to Charles Pinckney (1820) ME 15:280
Posthumous publications, On financial matters

“In reality, during the continuance of any one regulated proportion, between the respective values of the different values of the different metals in the coin, the value of the most precious metal regulates the value of the whole coin.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book I, Chapter V, p. 50.

“Thus, then, stands the case. It is good, that authors should be remunerated; and the least exceptionable way of remunerating them is by a monopoly. Yet monopoly is an evil. For the sake of the good we must submit to the evil; but the evil ought not to last a day longer than is necessary for the purpose of securing the good.”

Thomas Babington Macaulay, 1st Baron Macaulay (1800–1859) British historian and Whig politician

Speech on the Copyright Bill (5 February 1841)

“To many of us it seems that there is precious little difference between the policies of the Communist Party and the policies of the Labour Party.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Prime Minister's Questions (11 December 1980) http://www.margaretthatcher.org/document/104460
First term as Prime Minister

“Copyright is monopoly, and produces all the effects which the general voice of mankind attributes to monopoly. […] Monopoly is an evil. For the sake of the good we must submit to the evil; but the evil ought not to last a day longer than is necessary for the purpose of securing the good.”

Thomas Babington Macaulay, 1st Baron Macaulay (1800–1859) British historian and Whig politician

http://www.baen.com/library/palaver4.htm
Attributed

“The real struggle is not between the right and the left — that's where most people assume — but it's between the party of the thoughtful and the party of the jerks. And no side of the political spectrum has a monopoly on either of those qualities.”

Jimmy Wales (1966) Wikipedia co-founder and American Internet entrepreneur

"How a ragtag band created Wikipedia" http://www.ted.com/index.php/talks/view/id/37 - TED Talk (July 2005); this has sometimes appeared paraphrased as "The real struggle is not between the right and the left but between the party of the thoughtful and the party of the jerks."
Context: Most people understand the need for neutrality. The real struggle is not between the right and the left — that's where most people assume — but it's between the party of the thoughtful and the party of the jerks. And no side of the political spectrum has a monopoly on either of those qualities.

“Neither party has God on its side, a monopoly on good ideas, or a lock on any single fiscal, social, or moral philosophy.”

Michael Bloomberg (1942) American businessman and politician, former mayor of New York City

http://mikebloomberg.com/en/issues/public_health/mayor_bloomberg_delivers_opening_address_at_ceasefire_bridging_the_political_divide_conference
Partisanship

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

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

“Taxes are an evil—a necessary evil, but still an evil, and the fewer of them we have the better.”

Winston S. Churchill (1874–1965) Prime Minister of the United Kingdom

Churchill By Himself: The Definitive Collections of Quotations, ed. Richard Langworth, 2008, p. 424, (1907, 12 February)
Early career years (1898–1929)

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