"I like well your idea of issuing treasury notes bearing interest, because I am persuaded they would soon be withdrawn from circulation and locked up in vaults & private hoards. It would put it in the power of every man to lend his 100. or 1000 d. tho’ not able to go forward on the great scale, and be the most advantageous way of obtaining a loan. The other idea of creating a National bank, I do not concur in, because it seems now decided that Congress has not that power, (altho’ I sincerely wish they had it exclusively) and because I think there is already a vast redundancy, rather than a scarcity of paper medium."
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Presidents of the United StatesUnitarians from the United StatesFounding Fathers of the United States of AmericaUnited States Secretaries of StatePoliticians from Virginia
Original Language: English
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Letter to Thomas Law (6 November 1813) FE 9:433 : The Writings of Thomas Jefferson (10 Vols., 1892-99) edited by Paul Leicester Ford
https://en.wikiquote.org/wiki/Thomas_Jefferson
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Thomas Jefferson
1743 – 1826
US-amerikanischer Politiker und der dritte Präsident der Vereinigten Staaten (1801–1809).
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