715. BANKS, Jefferson's disapprobation of Paper.—[further continued] .
I have ever been the enemy
of banks, not of those discounting for
cash, but of those foisting their own paper
into circulation, and thus banishing our cash.
My zeal against those institutions was so
warm and open at the establishment of the
Bank of the United States, that I was derided
as a maniac by the tribe of bank-mongers,
who were seeking to filch from the public
their swindling and barren gains.—
To John Adams. Washington ed. vi, 305.
(M.
Jan. 1814)
