"The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government's greatest creative opportunity. The financing of all public enterprise, and the conduct of the treasury will become matters of practical administration. Money will cease to be master and will then become servant of humanity."
by:
Abraham Lincoln
(1809-1865) 16th US President
Rating:
Categories:
 
Bookmark and Share  
Reader comments about this quote:
This is the complete opposite of capitalism. Money, and banks, totally control our lives. I'm surprised to realize so much government control in Lincoln's time. He is heralded as one of our best presidents. More examination reveals him to be one of the worst for our Republic.
 -- Joe, Rochester, MI     
  • 3 4
  •  
    I think Mr Lincoln had more than one screw loose. Since when does government ever have privileges? When do those privileges ever become the supreme perogitive of government. Bah. Governments sole function is to protect the nation AND THE RIGHTS OF ITS CITIZENS. It never has rights or privileges. Only license it has usurped. Lincoln started this nation on the road to oblivion in seemingly, more ways than one.
     -- Harvey Russell, Beaumont, TX     
  • 4 5
  •  
    The Congress shall have power to coin Money, regulate the Value thereof, and of foreign Coin and fix the Standard of Measures... Artcile 1 section 8 United States Constituion Lincoln, unlike todays citizens understands the role of government and money in a free republic!!! It is the reason he died!
     -- al, Washington DC     
  • 7 1
  •  
    It is a little known fact that Lincoln printed up interest-free legal tender shortly before he was assasinated. There is no reason why the Treasury must 'borrow' credit from a private central bank -- if the Treasury can print bonds, it can print notes. Lincoln and Kennedy both did it, history tells the rest. It is absolutely true that the government could issue promissary notes interest-free instead of issuing interest-bearing promissary notes (i.e. Federal Reserve Notes) as a credit currency. Americans need to make the distinction between real money and credit. Lincoln fought many battles in his tenure -- the entire country was at stake. Unfortunately, he lost. The country has never been the same since.
     -- E Archer, NYC     
  • 7
  •  
    Lincoln knew what he was talking about. It is exasperating that people with no understanding of who it is that practically owns them today can so casually criticize the ones who tried to save them from slavery. Socialist totalitarianism and capitalist monopolism are equally treacherous and evil.
     -- David L. Rosenthal , Hollywood     
  • 4
  •  
    Fractional reserve banking is fine in principle. Capitalism is fine. Allowing a central bank to lend money it is the creator of merely so that the government can inflate its country into a slow death instead of coming face to face with a coherent tax policy is not fine. In case you haven't noticed, we gave a central bank enough power to OWN politicians, forge a monopoly of banking gluttony from the top down, and the tipping point is here before our eyes. - 04 29 09 - EW
     -- Anonymous, Oregon     
  • 3 2
  •  
    For you idiots that are still sheep for obaaaaaaama, and dont realize lincolns solid point in this quote, maybe you should look into the documentary The Obama Deception. Its people like you that hold the United States from reaching its full potential.
     -- Anonymous, Revolution, NY     
  • 2
  •  
    fantastic quote and so relevant in today's times . what vision the great Lincoln had , now its global .
     -- richie, u.k     
  • 2
  •  
    is Texas still part of the united states or did we give it back to mexico to settle our debts?
     -- revolution, nyc     
  •  
    "From the ashes of capitalism will rise Communism"
     -- Karl Marx, Germany     
  • 1
  •  
    Not his best quote regarding the money powers in America. His point is basically, central banking should not exist. He's saying America borrows it's money from a privately owned corporation. Therefore the money has power over us for it is all borrowed and therefore owed back (with interest). If America made it's own money, this problem would not exist. The Federal Reserve is the name of the current central bank in power, if anyone has interest in this matter.
     -- J, Peoria     
  •  
    "The money power preys upon the nation in times of peace & conspires against it in times of war. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who even question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me & the financial institutions at the rear, the latter is my greatest foe. - President Abraham Lincoln' Dont be foolish, our four fathers would be turning in their grave if they saw our country now. http://quotes.liberty-tree.ca/quotes_about/banking
     -- M, Eugene     
  • 3
  •  
    Joe, You need to watch the documentary, The Secret of Oz. What Lincoln did with the issuence of greenbacks was to allow capitalism to work the way it should without the burdening control of the international bankers. You'd better look at what Rothschild said about money and control of governments and the people. If you give the control of the money supply to a private bank then you take away the freedom of the people.
     -- Ron, Miles, Iowa     
  • 4
  •  
    I love Americans, some very intelligent yet lacking. The question of a FED that is a private organisation, lending money to government at exorbitant interest rates alone is crippling; but also regulating cash flow, interest rates affects every small American. Come on folks, do you not see how the few powerful guys who print money from thin-air are destroying your country? I think Lincoln had working class folks at heart. It is just that folks take a while to awaken.
     -- Ema, London     
  • 3
  •  
    The national money supply is PUBLIC, and not to be delegated as a source of profits for a handful of private corporations ( banks ). Lincoln, Jefferson and Franklin agreed on this. Fractional reserve lending allows the banks to inflate the money supply which debases its value. They are continually pulling the rug out from under us.
     -- Brian, Mt. Shasta, CA     
  • 4
  •  
    This IS the root of all our problems here in the United States. Everything else is just the symptoms. Let's start a movement and see it through. Let that movement be to GET RID OF THE FEDERAL RESERVE! Just like President Jackson got rid of the central bank of his time. We will subject ourselves to lives of indentured servants (wage slaves) with our children and grandchildren's futures being even worse if we do not take action now. Congress created this "creature from Jekyle Island" and by voting in congressmen who will support the passage of laws outlawing the Federal Reserve and putting the power to issue the nation's money back into the hands of the government alone, ending the current joint monopoly on money creation between the private corporations and the government, will we get the unjust current laws struck down and replaced by laws which benefit the American people instead of the special interests of the money trust of the "banksters" (yes like gangsters) !
     -- Arthur Puchalski, Humble, Texas     
  • 3
  •  
    Lincoln is referring to the FED (which is a private company) and saying that it should be the governments responsibility (NOT THE FED'S) to print money with a controlled perspective.. this controlled perspective would be to just print enough to cover the economic needs of the land and support prosperity... right now the Fed has controll over our government and our people and we are merely pawn in the grand scheme of things.. And this is all because THEY controll the MONEY
     -- ROCKETMAN19, Chicago-CBOT     
  • 3
  •  
    Thank god a few of you get it. But those of you who gave a thumbs down need to turn them up and shove them back in your dumb asses.
     -- leeroy brown, granbury texas     
  •  
    By having a centralized banking system means to have perpetual debt. Are lives and wealth are at the hands of the bankers. It makes no sense to print money to pay interest, to print more money to pay more interest... not to mention everytime money is printed it creates more inflation. It is a beast that needs to be stopped. The goverment should print the money, with no interest. We need to do exactly what Lincoln did... then go a step further by pushing the bankers out of Washington. Making laws to stop the bankers from ever creating a centralize bank.
     -- ENDTHEFED2012, Bradenton, FL     
  • 1
  •  
    Lincoln here first identifies a check and balance (government expenditures are checked by consumers) Some of the greatest problems with that are private commerce is not mentioned or included (fiscal law of nature), consumption is not held with in lawful bounds (fiscal law of nature - for example; a dole, financing poverty makes it grow), government's need to redefine words and situations to cover accounting balances, a credit based currency can not continue itself (perpetual debt being a system of master / slave), inflation by the insurer of credit (when perpetual) is considered a good thing, etc., etc., etc. "government's greatest creative opportunity" is one of the biggest reasons the country / world is in the mess that it is ! ! ! Constitutionally, the government is not authorized to finance public enterprise(s) (that is socialism, being in direct conflict with liberty). When has the "conduct" of any government entity "become matters of practical administration" ? hmmm, NEVER ! Money becoming the master or servant of humanity is not, can NOT be a function of government, it is a matter of human nature. Nothing in the quote derives from truth, accuracy or anything of a long term benefit. The quote only tantalizes some sort of fantasy or religion of greed.
     -- Mike, Norwalk     
  • 3
  •  
     -- Leslie, Biddeford, ME      
    Lincoln was a tyrant. Read "The Real Lincoln" or "Lincoln Unmasked" for the skinny on the worst president.
     -- Jim K, Austin     
  •  
    Five stars for the quote and zero for Lincoln.
     -- Jim K, Austin     
  •  
    The rules of engagement, of one Freeman to another that are set at Liberty. 1st of thirteen points of reference, " If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury." 2nd " Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase. " 3rd " If there be among you a poor man of one of thy brethren within any of thy gates in thy land which the Lord thy God giveth thee, thou shalt not harden thine heart, nor shut thine hand from thy poor brother: but thou shalt open thine hand wide unto him, and shalt surely lend him sufficiently for his need, in that which he wanteth. "4rd " Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: " Just to name a few of these 13 points ( Laws ) to govern lending and barrowing of money and goods. " There are many devices in a man's heart; nevertheless the counsel of the Lord, that shall stand. The desire of a man is his kindness: and a poor man is better than a liar. And if thou sell aught unto thy neighbor, or buyest aught of thy neighbour's hand, ye shall not oppress one another. The year of Jubilee is upon us ! Proclaim Liberty throughout all the land.
     -- Ronw13, Yachats Or     
  • 1
  •  
    I do not believe Lincoln was a tyrant. But he was definitely nationalistic in his presidency; the nation was rapidly expanding, the role of the federal government was becoming very powerful. What is not so well documented was the effort to split up the United States by the European banking cartel. All of the monarchies of Europe had already become indebted to them. Lincoln figured out the banksters tricks and instead of borrowing from the central bank of England (money that was essentially created out of thin air and loaned at interest) he simply issued US government promises to pay directly as 'greenbacks' as opposed to gold certifcates which represented gold coin. But these banksters could not afford to have any country issuing their own money!! Lincoln was assassinated not because he was a 'tyrant' but because he did not bow to the European banks. The English banks funded the North, and the French banks funded the South -- and all the banks were owned by the same European powers. If you want to get out from under the thumb of central bankers, there will be war -- that is their threat, and they can do it. The problem is, the real enemy is never targeted -- the people are easily duped into warring with their neighbors.

    For sure, Lincoln was trying to keep the nation together, even if Constitutionally any State is allowed to leave the Union. There was more going on behind the scenes with the central banks -- they instigated the War Between the States resulting in the deaths of millions of Americans, impoverished a nation, executed the president, and helped to create a new 'national' Constitution with Amendments creating national citizens, taking control of the Senate from the States, etc.. The 'Reconstruction Amendments' were all for the centralizing of power into the hands of Washington DC which were to be totally dependent upon the central bankers to operate.

    Garfield tried to correct the currency problems, too. But his solutions again put the power back into the hands of the Executive, and he was also assassinated.

    Lincoln lost the real war that no one talks about. The US didn't become nationalist because of Lincoln per se, but rather because of those who seized the power of the 'Reconstruction.'
     -- E Archer, NYC     
  • 1
  •  
    The US Constitution, Article I, Section 8 "The Congress shall have Power ... To coin Money, regulate the Value thereof, and of foreign Coin,"

    It is pretty clear that the right to coin money lies with the government exclusively. All great powers throughout history have coined money. This is why the Federal Reserve is so dangerous.
     -- Evan, marin, ca     
  • 4
  •  
    If only he hadn't freed all those slaves.  Is that what you're saying?
     -- BepisMastre, NYC     
  •  
     
    Rate this quote!
    How many stars?
    0
    1
    2
    3
    4
    5

     
    What do YOU think?
    Your name:
    Your town:
        CLICK JUST ONCE!

    More Quotations
    Get a Quote-A-Day! Free!
    Liberty Quotes sent to your mail box.
    RSS Subscribe
    Quotes & Quotations - Send This Quote to a Friend

    © 1998-2019 Liberty-Tree.ca