Government Issue
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Why did Thomas Jefferson object to letting the national government issue a charter for a national bank?
A. A national bank is not the most convenient method for managing the nation's finances.
B. All purposes that would have been served by the national bank could just as easily be performed by the treasury department and a system of treasury notes.
C. The states have the power to interpose themselves between the national government and any infringement on individual liberties.
D. Granting Congress any power not explicitly granted by the Constitution will remove all limits on its power other than what Congress itself believes to be the good of the nation.
Here is objection is his own words---plus others on the same subject:
"I sincerely believe ... 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
"Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money." – Daniel Webster
"Whoever controls the volume of money in any country is absolute master of all industry and commerce." – James A. Garfield
"All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation." – John Adams
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Sheer Terror by Government Issue
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