Monday, July 9, 2012
"The system of banking [is] a blot left in all our Constitutions, which, if not covered, will end in their destruction... I sincerely believe that banking institutions are more dangerous than standing armies; and that the principle of spending money to be paid by posterity... is but swindling futurity on a large scale." -- Thomas Jefferson (1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President Source: stated in 1811 when President Jefferson refused to renew the charter for the First Bank of the United States (the 2nd central bank chartered by Congress in 1791)
"By a declaration of rights, I mean one which shall stipulate freedom of religion, freedom of the press, freedom of commerce against monopolies, trial by juries in all cases, no suspensions of the habeas corpus, no standing armies. These are fetters against doing evil which no honest government should decline." -- Thomas Jefferson (1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President
"I consider the foundation of the Constitution as laid on this ground that 'all powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are preserved to the states or to the people.' ... To take a single step beyond the boundaries thus specially drawn around the powers of Congress is to take possession of a boundless field of power, no longer susceptible of any definition. The incorporation of a bank, and the powers assumed by this bill (chartering the first Bank of the United States), have not, been delegated to the United States by the Constitution." -- Thomas Jefferson (1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President Source: in opposition to the chartering of the first Bank of the United States (1791).