“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Would you believe that Thomas Jefferson said that in 1802? How crazy is that?? How absolutely brilliant must this man have been to have this much wisdom and insight more than 200 years ago?
Jefferson is consistently ranked as one of the greatest Presidents in American history. He started college at the age of 16 and was known to study up to 15 hours a day. Sounds like my kind of man: work ‘til it hurts, then push harder!
Jefferson grew up in a wealthy family. But he knew the importance of living within your means, something many of today’s politicians and citizens would do well to learn. When Jefferson became president, he slashed expenditures, cut the budget and eliminated unpopular taxes. And he still managed to reduce the national debt by a third. Sounds like something this current administration should try!
Although his theories and writings for the Declaration of Independence were a significant factor in the writing of the Constitution, Jefferson actually opposed a strong centralized government. Instead, he believed in the rights of individual states. Obama and his administration seem to believe the only way to get anything done is to step in and let the government take over. Remember all those bailouts? Jefferson always advocated for fiscal prudence at the state and federal levels, and he expected states to be responsible for paying their own debts. Imagine that: states being responsible for paying their own debts! I wonder what Jefferson would say if he was around to see state Senators trading favors for votes…
Jefferson always tried to live within his means. He even sold some of his personal land before the Revolution in order to settle his debts. Unfortunately this left him with money that was worthless after rampant inflation following the war. Sound familiar? It’s a lot like our real estate meltdown, which has left millions of U.S. homeowners with outstanding debts on homes worth a fraction of their former values, while bankers enjoy healthy profits, bonuses and public bailouts to right their wrongs.
We would be a lot better off and might even start down the long road to recovery if we followed Jefferson’s values. It’s not brain surgery, people – it’s just good business sense. If Jefferson could see it more than 200 years ago, I don’t think it’s too much to expect our current leaders to do the same.
LINKS:
The White House – Thomas Jefferson
Wikipedia – Thomas Jefferson
