732. BANKS, Private Fortunes and.—
Private fortunes, in the present state of our
circulation, are at the mercy of those selfcreated
money-lenders, and are prostrated by
the floods of nominal money with which their
avarice deluges us. He who lent his money
to the public or to an individual, before the
institution of the United States Bank, twenty
years ago, when wheat was well sold at a
dollar the bushel, and receives now his nominal
sum when it sells at two dollars, is
cheated of half his fortune; and by whom?
By the banks, which, since that, have thrown
into circulation ten dollars of their nominal
money where there was one at that time.—
To John W. Eppes. Washington ed. vi, 142.
Ford ed., ix, 394.
(M.
June. 1813)
