“He [Turgot] now, in 1749, at the age of twenty two, wrote… a letter which has been an object of wonder among political thinkers ever since. Its subject was paper money. Discussing the ideas of John Law, and especially the essay of Terrasson which had supported them, he dissected them mercilessly, but in a way useful not only in those times but in these. …Terrasson's arguments in behalf of unlimited issues of paper had been put forth in 1720. …and he declared that the material used for bearing the sign of value is indifferent …and that if a sovereign issues enough of paper promises, he will be able to loan or even to give money in unlimited amounts to his needy subjects. …without danger of depreciation. …Terrasson also made the distinction between the note of a business man and notes issued by a government, that the former comes back and must be paid, but that the latter need not come back and can be kept afloat forever by simple governmental command, thus becoming that blessed thing—worshiped widely, not many years since, in our own country—"fiat money."”

Source: Seven Great Statesmen in the Warfare of Humanity with Unreason (1915), p. 168-169

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Andrew Dickson White 37
American politician 1832–1918

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“Washington acted as the representative of the needs, the ideas, the enlightened men, the opinions of his age; he supported, not thwarted, the stirrings of intellect; he desired only what he had to desire, the very thing to which he had been called: from which derives the coherence and longevity of his work.”

Book VI: Ch. 8: Comparison of Washington and Bonaparte.
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Context: A degree of silence envelops Washington’s actions; he moved slowly; one might say that he felt charged with future liberty, and that he feared to compromise it. It was not his own destiny that inspired this new species of hero: it was that of his country; he did not allow himself to enjoy what did not belong to him; but from that profound humility what glory emerged! Search the woods where Washington’s sword gleamed: what do you find? Tombs? No; a world! Washington has left the United States behind for a monument on the field of battle.
Bonaparte shared no trait with that serious American: he fought amidst thunder in an old world; he thought about nothing but creating his own fame; he was inspired only by his own fate. He seemed to know that his project would be short, that the torrent which falls from such heights flows swiftly; he hastened to enjoy and abuse his glory, like fleeting youth. Following the example of Homer’s gods, in four paces he reached the ends of the world. He appeared on every shore; he wrote his name hurriedly in the annals of every people; he threw royal crowns to his family and his generals; he hurried through his monuments, his laws, his victories. Leaning over the world, with one hand he deposed kings, with the other he pulled down the giant, Revolution; but, in eliminating anarchy, he stifled liberty, and ended by losing his own on his last field of battle.
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Washington acted as the representative of the needs, the ideas, the enlightened men, the opinions of his age; he supported, not thwarted, the stirrings of intellect; he desired only what he had to desire, the very thing to which he had been called: from which derives the coherence and longevity of his work. That man who struck few blows because he kept things in proportion has merged his existence with that of his country: his glory is the heritage of civilisation; his fame has risen like one of those public sanctuaries where a fecund and inexhaustible spring flows.

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