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

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

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“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

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

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.

Edward Everett photo

“Education is a better safeguard of liberty than a standing army.”

Edward Everett (1794–1865) American politician, orator, statesman

As quoted in The Common School Journal and Educational Reformer (1852), edited by William B. Fowle, p. 28.
Context: Education is a better safeguard of liberty than a standing army. If we retrench the wages of the schoolmaster, we must raise those of the recruiting sergeant.

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“The Jews work more effectively against us than the enemy's armies. They are a hundred times more dangerous to our liberties and the great cause we are engaged in. It is much to be lamented that each state, long ago, has not hunted them down as pests to society and the greatest enemies we have to the happiness of America.”

George Washington (1732–1799) first President of the United States

Sometimes rendered : "They (the Jews) work more effectively against us, than the enemy's armies. They are a hundred times more dangerous to our liberties and the great cause we are engaged in... It is much to be lamented that each state, long ago, has not hunted them down as pest to society and the greatest enemies we have to the happiness of America."
Both of these are doctored statements that have been widely disseminated as genuine on many anti-semitic websites; They are distortions derived from a statement that was attributed to Washington in Maxims of George Washington about currency speculators during the Revolutionary war, not about Jews: "This tribe of black gentry work more effectually against us, than the enemy's arms. They are a hundred times more dangerous to our liberties, and the great cause we are engaged in. It is much to be lamented that each State, long ere this, has not hunted them down as pests to society, and the greatest enemies we have to the happiness of America." More information is available at Snopes. com: "To Bigotry, No Sanction" http://www.snopes.com/quotes/thejews.htm
This quotation is a classic anti-semitic hoax, evidently begun during or just before World War Two by American Nazi sympathizers, and since then has been repeated, for example, in foreign propaganda directed at Americans. In fact it is knitted from two separate letters by Washington, in reverse chronology, neither of them mentioning Jews. The first part of this forgery are taken from Washington's letter to Edmund Pendleton, Nov. 1, 1779 {and the original can be found in the Library of Congress's online service at http://memory.loc.gov/mss/mgw/mgw3h/001/378378.jpg }. I have tried to reproduce Washington's spelling and punctuation exactly. In that letter Washington complains about black marketeers and others undermining the purchasing power of colonial currency:
: … but I am under no apprehension of a capital injury from ay other source than that of the continual depreciation of our Money. This indeed is truly alarming, and of so serious a nature that every other effort is in vain unless something can be done to restore its credit. .... Where this has been the policy (in Connecticut for instance) the prices of every article have fallen and the money consequently is in demand; but in the other States you can scarce get a single thing for it, and yet it is with-held from the public by speculators, while every thing that can be useful to the public is engrossed by this tribe of black gentry, who work more effectually against us that the enemys Arms; and are a hundd. times more dangerous to our liberties and the great cause we are engaged in.
The second part of this fabricated quote is from Washington's letter to Joseph Reed, Dec. 12, 1778 {and can be found at the Library of Congress using the same URL but ending in /193192.jpg}, which again condemns war profiteers (the parenthetical list in the quotation is Washington's own words which he put there in parentheses):
: It gives me very sincere pleasure to find that there is likely to be a coalition … so well disposed to second your endeavours in bringing those murderers of our cause (the monopolizers, forestallers, and engrossers) to condign punishment. It is much to be lamented that each State long ere this has not hunted them down as the pests of society, and the greatest Enemys we have to the happiness of America. I would to God that one of the most attrocious of each State was hung in Gibbets upons a gallows five times as high as the one prepared by Haman. No punishment in my opinion is too great for the Man who can build his greatness upon his Country's ruin.
Misattributed, Spurious attributions

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“No man has a greater regard for the military gentlemen than I have. I admire their intrepidity, perseverance, and valour. But when once a standing army is established, in any country, the people lose their liberty.”

George Mason (1725–1792) American delegate from Virginia to the U.S. Constitutional Convention

June 14
Addresses to the Virginia Ratifying Convention (1788)
Context: No man has a greater regard for the military gentlemen than I have. I admire their intrepidity, perseverance, and valour. But when once a standing army is established, in any country, the people lose their liberty. When against a regular and disciplined army, yeomanry are the only defence — yeomanry, unskillful & unarmed, what chance is there for preserving freedom? Give me leave to recur to the page of history, to warn you of your present danger. Recollect the history of most nations of the world. What havock, desolation, and destruction, have been perpetrated by standing armies? An instance within the memory of some of this house, — will shew us how our militia may be destroyed. Forty years ago, when the resolution of enslaving America was formed in Great Britain, the British parliament was advised by an artful man, [Sir William Keith] who was governor of Pennsylvania, to disarm the people. That it was the best and most effectual way to enslave them. But that they should not do it openly; but to weaken them and let them sink gradually, by totally difusing and neglecting the militia. [Here MR. MASON quoted sundry passages to this effect. ] This was a most iniquitous project. Why should we not provide against the danger of having our militia, our real and natural strength, destroyed?

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“A standing army is like a standing member. It's an excellent assurance of domestic tranquility, but a dangerous temptation to foreign adventure.”

Elbridge Gerry (1744–1814) US diplomat and vice president; Massachusetts governor

Constitutional Convention (1787)

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