All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.
--
Letter to Thomas Jefferson (23 August 1787), The Works of John AdamsJohn Adams
If treasury bills are emitted on a tax appropriated for their redemption in fifteen years, and (to insure preference in the first moments of competition) bearing an interest of six per cent, there is no one who would not take them in preference to the bank paper now afloat, on a principle of patriotism as well as interest; and they would be withdrawn from circulation into private hoards to a considerable amount. Their credit once established, others might be emitted, bottomed also on a tax, but not bearing interest; and if ever their credit faltered, open public loans, on which these bills alone should be received as specie. These, operating as a sinking fund, would reduce the quantity in circulation, so as to maintain that in an equilibrium with specie. It is not easy to estimate the obstacles which, in the beginning, we should encounter in ousting the banks from their possession of the circulation; but a steady and judicious alternation of emissions and loans would reduce them in time.
Thomas Jefferson
Each piece of money is a mere coin, or means of circulation, only so long as it actually circulates.
Karl Marx
During the long lane of the history yet to be written, America knows that this world of ours, ever growing smaller, must avoid becoming a community of dreadful fear and hate, and be, instead, a proud confederation of mutual trust and respect. Such a confederation must be one of equals. The weakest must come to the conference table with the same confidence as do we, protected as we are by our moral, economic, and military strength. That table, though scarred by many past frustrations, cannot be abandoned for the certain agony of the battlefield.
Dwight D. Eisenhower
It is an assured sign of a worthy and generous spirit, whom honor amends. For honor is, or should be, the place of virtue and as in nature, things move violently to their place, and calmly in their place, so virtue in ambition is violent, in authority settled and calm. All rising to great place is by a winding stair; and if there be factions, it is good to side a man's self, whilst he is in the rising, and to balance himself when he is placed. Use the memory of thy predecessor, fairly and tenderly; for if thou dost not, it is a debt will sure be paid when thou art gone. If thou have colleagues, respect them, and rather call them, when they look not for it, than exclude them, when they have reason to look to be called. Be not too sensible, or too remembering, of thy place in conversation, and private answers to suitors; but let it rather be said, When he sits in place, he is another man.
Francis Bacon
I feel anxious for the fate of our monarchy, or democracy, or whatever is to take place. I soon get lost in a labyrinth of perplexities; but, whatever occurs, may justice and righteousness be the stability of our times, and order arise out of confusion. Great difficulties may be surmounted by patience and perseverance.
Abigail Adams
Adams, John
Adams, John Bodkin
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