University of Virginia Library

Search this document 

5624. NATIONAL CURRENCY, Borrowing fund.—[further continued].

The circulating fund is
the only one we can ever command with
certainty. It is sufficient for all our wants;
and the impossibility of even defending the
country without its aid as a borrowing fund,
renders it indispensable that the nation should
take and keep it in their own hands, as their
exclusive resource.—
To President Madison. Washington ed. vi, 393. Ford ed., ix, 491.
(M. Oct. 1814)