The Jeffersonian cyclopedia; a comprehensive collection of the views of Thomas Jefferson classified and arranged in alphabetical order under nine thousand titles relating to government, politics, law, education, political economy, finance, science, art, literature, religious freedom, morals, etc.; |
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660. BANK (National 1813), Unconstitutional.—[continued]. |
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660. BANK (National 1813), Unconstitutional.—[continued].
The idea of creating a
national bank, I do not concur in, because it
seems now decided that Congress has not that
power (although I sincerely wish they had
it exclusively), and because I think there is
already a vast redundancy, rather than a
scarcity of paper medium. The rapid rise in
the nominal price of land and labor (while
war and blockade should produce a fall)
proves the progressive state of the depreciation
of our medium.—
To Thomas Law.
Ford ed., ix, 433.
(M.
1813)
| The Jeffersonian cyclopedia; | |