Famous John Adams Quote 

"All the perplexities, confusion and distress in America
arise not from defects in their Constitution or Confederation,
nor from want of honor or virtue, so much as downright ignorance
of the nature of coin, credit, and circulation."

by:
John Adams
(1735-1826) Founding Father, 2nd US President
Source:
in a letter to Thomas Jefferson in 1787
Categories:
 
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Reader comments about this quote:
Whoever pulls the purse-strings, makes the marionette dance.
 -- E Archer, NYC		 
 -- Anonymous, Reston, VA US 
 -- Logan, Memphis, TN 
It is my sincerest wish for all the Peoples of the world to heed this quote. A little more research on the subject will reveal the true source of society's ills.
 -- Chicago		 
 -- David L. Rosenthal , Hollywood 
The downright ignorance of the basic principles of econiomics, particularly free enterprise, is astounding. Of course, if Adams were to write today, he might well be forced to say that "want of virtue and honor" are also a major problem. And yes, E Archer, while that might be true, that is not what this quote is about. (You know, I am always intrigued when someone will take any opportunity to run down America or the system that has done more for mankind that all the rest put together. Says more about them than about the USA.)
 -- MK, Houston, TX		 
Kudos, MK for pointing out the general lack of awareness of economic principles. I suggest to all they read a bit about the age of 'laissez-faire' or 'Golden Age' in our country.
 -- Terry Berg, Occidental, CA		 
Er, ... That would be the 'Gilded Age' - sorry - There's a BIG difference.
 -- Terry Berg, Occidental, CA		 
Gilded means golden. Anyways, the quote nails it.
 -- Anonymous		 
Ron Paul has the answer..
 -- Vexari, Indian Shores		 
There are only two possible economic systems: barter and slavery. God commanded a barter system with: "Thou shalt not steal." Money does not exist in a barter system. The sole function of legal tender is to take labor or property without payment which is slavery.
 -- Dave Wilbur		 
The best book I have ever read that clears the smokescreen of ignorance about coin, credit, and circulation is Tupper Sausseys `Miracle on Main Street`.
 -- Dan		 
 -- Anonymous 
The demise of America will come through the people's ignorance of coinage. The Federal Reserve is not Federal and it has no Reserves. It merely prints up paper out of thin air. It has no real value. "Government is the only agency that can take a useful commodity like paper, slap ink on it, and make it completely worthless." ~ Von Mises ~ Or better yet "Give me control of a nation's money and I care not who makes her laws" ~ Mayer Rothschild ~ Guess who owns the Federal Reserve?
 -- J Carlton, Calgary		 
BINGO! Wake up America.
 -- Anon		 
Right on Dan, 'Miracle On Mainstreet' is simplicity in action that the average intellect can understand if all the one reading it possesses is common sense. I second, third and fourth your assessment and give that book five stars along with the quote. Get it America, read it! -http://hiddenmysteries.com/xcart/product.php?productid=18144&cat=0&page=1
 -- Anon		 
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