The trifling economy of paper, as a cheaper medium, or its convenience for transmission, weighs nothing in opposition to the advantages of the precious metals it is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted.
Interpretation
The quote argues that while paper currency may be convenient and cheaper, it poses risks of abuse compared to the stability of precious metals.
In this quote, Thomas Jefferson expresses his skepticism towards paper currency, emphasizing that despite its affordability and ease of use, it inherently invites misuse and corruption. He contends that the intrinsic value and stability provided by precious metals outweigh the temporary benefits of a paper-based economy, highlighting a concern for economic integrity that persists throughout history.
In practice
During a discussion on the dangers of inflation and economic instability.
The firmness with which the (American) people have withstood the... abuses of the press, the discernment they have manifested between truth and falsehood, show that they may safely be trusted to hear everything true and false and to form a correct judgment between them.
I, place economy among the first & most important republican virtues, & public debt as the greatest of the dangers to be feared
βWe must make our choice between economy and liberty or confusion and servitude...If we run into such debts, we must be taxed in our meat and drink, in our necessities and comforts, in our labor and in our amusements...if we can prevent the government from wasting the labor of the people, under the pretense of caring for them, they will be happy.
Very many and very meritorious were the worthy patriots who assisted in bringing back our government to its republican tack. To preserve it in that, will require unremitting vigilance.
A nation, as a society, forms a moral person, and every member of it is personally responsible for his society.
Timid men prefer the calm of despotism to the tempestuous sea of liberty.
The ultimate goal of farming is not the growing of crops, but the cultivation and perfection of human beings.
The moment that justice must be paid for by the victim of injustice it becomes itself injustice.
Thought can be so seductive and hypnotic that it absorbs your attention totally, so you become your thoughts.
We all know people who have been made much meaner and more irritable and more intolerable to live with by suffering: it is not right to say that all suffering perfects. It only perfects one type of person ...... the one who accepts the call of God in Christ Jesus.
There should be a science of discontent. People need hard times and oppression to develop psychic muscles.
Iβve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
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