“Is there no virtue among us?"

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In the Founders’ view, the only thing standing between America and an authoritarian demagogue was the virtuous self-control of citizens who would find the wisdom to choose virtuous leaders.

“I go on this great republican principle, that the people will have virtue and intelligence to select men of virtue and wisdom,” Madison said at the Constitutional Convention. “Is there no virtue among us? If there be not, we are in a wretched situation. No theoretical checks — no form of government can render us secure.”

https://www.washingtonpost.com/opinions/2024/02/20/founding-fathers-demagogues-civic-virtue/
 
When they drafted the Constitution, the Founders’ greatest fear was that a populist demagogue would flatter the mob, subvert American democracy and establish authoritarian rule. “The only path to a subversion of the republican system of the Country is, by flattering the prejudices of the people, and exciting their jealousies and apprehensions, to throw affairs into confusion, and bring on civil commotion,” Alexander Hamilton wrote to George Washington in 1792.

“When a man unprincipled in private life[,] desperate in his fortune, bold in his temper … is seen to mount the hobby horse of popularity … It may justly be suspected that his object is to throw things into confusion that he may ‘ride the storm and direct the whirlwind.’”
 
When they drafted the Constitution, the Founders’ greatest fear was that a populist demagogue would flatter the mob, subvert American democracy and establish authoritarian rule. “The only path to a subversion of the republican system of the Country is, by flattering the prejudices of the people, and exciting their jealousies and apprehensions, to throw affairs into confusion, and bring on civil commotion,” Alexander Hamilton wrote to George Washington in 1792.

“When a man unprincipled in private life[,] desperate in his fortune, bold in his temper … is seen to mount the hobby horse of popularity … It may justly be suspected that his object is to throw things into confusion that he may ‘ride the storm and direct the whirlwind.’”


actually its central bankers that the founding fathers warned of

Founding Fathers Quotes on How Central Banking is Destructive to America's Economic System
You're free to republish or share any of our articles (either in part or in full), which are licensed under a Creative Commons Attribution 4.0 International License. Our only requirement is that you give Ammo.com appropriate credit by linking to the original article. Spread the word; knowledge is power!

Founding Fathers Quotes on How Central Banking is Destructive to America's Economic SystemCentral banking is such a core part of the American economic system that it’s hard to imagine a world without it. However, central banking in the United States is a very recent development – barely over a century old, established in 1913. The Founders warned against central banking, with Thomas Jefferson going so far as to say that he thought a prohibition against central banking was the only thing missing from the Constitution.

While no one could argue that the Founders were opponents of capitalism, they were deeply troubled by the prospect of unchecked speculative capitalism as opposed to productive capitalism. Thomas Jefferson considered central banking to be a bigger threat to liberty than standing armies. What a far cry from both ends of the political spectrum today, who see the needs of the financial sector as the starting point of domestic policy.

Brian Miller
Curated by
Brian Miller
“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.” - Thomas Jefferson
“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.”

Thomas Jefferson, Letter to John Taylor, November 26, 1798
“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.” - Thomas Jefferson
“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.”

Thomas Jefferson to John Wayles Eppes in 1813
“And I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” - Thomas Jefferson
“And I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”

Thomas Jefferson to John Taylor, 1816
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” - George Washington
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”

George Washington to J. Bowen 1787
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” - John Adams
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”

John Adams



https://ammo.com/articles/founding-fathers-quotes-central-banking-americas-economy
 
actually its central bankers that the founding fathers warned of

Founding Fathers Quotes on How Central Banking is Destructive to America's Economic System
You're free to republish or share any of our articles (either in part or in full), which are licensed under a Creative Commons Attribution 4.0 International License. Our only requirement is that you give Ammo.com appropriate credit by linking to the original article. Spread the word; knowledge is power!

Founding Fathers Quotes on How Central Banking is Destructive to America's Economic SystemCentral banking is such a core part of the American economic system that it’s hard to imagine a world without it. However, central banking in the United States is a very recent development – barely over a century old, established in 1913. The Founders warned against central banking, with Thomas Jefferson going so far as to say that he thought a prohibition against central banking was the only thing missing from the Constitution.

While no one could argue that the Founders were opponents of capitalism, they were deeply troubled by the prospect of unchecked speculative capitalism as opposed to productive capitalism. Thomas Jefferson considered central banking to be a bigger threat to liberty than standing armies. What a far cry from both ends of the political spectrum today, who see the needs of the financial sector as the starting point of domestic policy.

Brian Miller
Curated by
Brian Miller
“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.” - Thomas Jefferson
“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.”

Thomas Jefferson, Letter to John Taylor, November 26, 1798
“Bank-paper must be suppressed, and the circulating medium must be restored tothe honest, and open the door to every species of fraud and injustice.” - George Washington
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”

George Washington to J. Bowen 1787
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” - John Adams
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”

John Adams



https://ammo.com/articles/founding-fathers-quotes-central-banking-americas-economy

Sure, democracy is only about banking.
 
actually its central bankers that the founding fathers warned of

Founding Fathers Quotes on How Central Banking is Destructive to America's Economic System
You're free to republish or share any of our articles (either in part or in full), which are licensed under a Creative Commons Attribution 4.0 International License. Our only requirement is that you give Ammo.com appropriate credit by linking to the original article. Spread the word; knowledge is power!

Founding Fathers Quotes on How Central Banking is Destructive to America's Economic SystemCentral banking is such a core part of the American economic system that it’s hard to imagine a world without it. However, central banking in the United States is a very recent development – barely over a century old, established in 1913. The Founders warned against central banking, with Thomas Jefferson going so far as to say that he thought a prohibition against central banking was the only thing missing from the Constitution.

While no one could argue that the Founders were opponents of capitalism, they were deeply troubled by the prospect of unchecked speculative capitalism as opposed to productive capitalism. Thomas Jefferson considered central banking to be a bigger threat to liberty than standing armies. What a far cry from both ends of the political spectrum today, who see the needs of the financial sector as the starting point of domestic policy.

Brian Miller
Curated by
Brian Miller
“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.” - Thomas Jefferson
“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.”

Thomas Jefferson, Letter to John Taylor, November 26, 1798
“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.” - Thomas Jefferson
“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.”

Thomas Jefferson to John Wayles Eppes in 1813
“And I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” - Thomas Jefferson
“And I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”

Thomas Jefferson to John Taylor, 1816
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” - George Washington
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”

George Washington to J. Bowen 1787
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” - John Adams
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”

John Adams



https://ammo.com/articles/founding-fathers-quotes-central-banking-americas-economy

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