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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742. BANKS, Sound Money.—[further continued]. |
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 | The Jeffersonian cyclopedia; |  |
742. BANKS, Sound Money.—[further continued].
To the existence of banks
of discount for cash, as on the continent of
Europe, there can be no objection, because
there can be no danger of abuse, and they
are a convenience both to merchants and individuals.
I think they should even be encouraged,
by allowing them a larger than
legal interest on short discounts, and tapering
thence in proportion as the term of discount
is lengthened, down to legal interest on those
of a year or more.—
To J. W. Eppes. Washington ed. vi, 247.
Ford ed., ix, 417.
(M.
Nov. 1813)
| The Jeffersonian cyclopedia; | |