He who controls the money supply of a nation controls the nation.
Interpretation
Controlling the money supply gives immense power over national governance.
This quote by James A. Garfield highlights the critical influence that monetary policy and control over a nation's currency have on its stability and governance. By stating that whoever controls the money supply controls the nation, Garfield underscores the importance of economic management in shaping the political and social dynamics of a country.
In practice
A financial seminar discussing the impact of monetary policy on national governance.
Statistical science is indispensable to modern statesmanship. In legislation as in physical science it is beginning to be understood that we can control terrestrial forces only by obeying their laws. The legislator must formulate in his statutes not only the national will, but also those great laws of social life revealed by statistics.
I am trying to do two things: dare to be a radical and not a fool, which is a matter of no small difficulty.
Justice and goodwill will outlast passion.
Now more than ever the people are responsible for the character of their Congress. If that body be ignorant, reckless, and corrupt, it is because the people tolerate ignorance, recklessness, and corruption.
If the power to do hard work is not a skill, it's the best possible substitute for it.
Next in importance to freedom and justice is popular education, without which neither freedom nor justice can be permanently maintained.
The hidden hand of the market will never work without a hidden fist -- McDonald's cannot flourish without McDonnell Douglas, the builder of the F-15. And the hidden fist that keeps the world safe for Silicon Valley's technologies is called the United States Army, Air Force, Navy and Marine Corps.
Large corporations, of course, are blinded by greed. The laws under which they operate require it - their shareholders would revolt at anything less.
One way to have broader access to wealth is to reduce the tax on the large group and increase the tax on the very top so concentration of wealth doesn't get to extreme levels.
The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.
When people from organizations like the World Bank descended on Third World countries, they always tried to remove obstacles to development, to reduce economic anxiety and uncertainty.
The natural effect of low interest is to increase trade and industry; because undertakings of every kind can be prosecuted with greater advantage.
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