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.
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The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.
For most Americans, economic growth is a spectator sport.
I'm just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.
It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.
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