"I believe that banking institutions are more dangerous to our
liberties than standing armies. Already they have raised up a
moneyed aristocracy that has set the Government at defiance.
The issuing power should be taken from the banks and restored
to the people to whom it properly belongs."
Thomas Jefferson
(1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President
Letter to the Secretary of the Treasury Albert Gallatin (1802)
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Reader comments about this quote:
Such is the case today. The world's governments are beholden to private banks. The Federal Reserve Bank is not federal -- and it has no reserves. It is a con that has captured the lives and property of the American people.
 -- E Archer, NYC     
     -- Anonymous      
    I think this quote could use a proper citation :) Thomas Jefferson: Letter to the Secretary of the Treasury Albert Gallatin (1802)
     -- Philosophia, Clearwater     
    The older I get, the smarter he gets.
     -- Vince Winslow, Cleveland, OH     
    If this kind of nonsense was going on with the banks back in Jefferson's day, we were born into a losing financial situation. Money corrupts.
     -- Me Again     
    Money doesn't corrupt, the love of money and power corrupts.
     -- jim k, austin     
    Credit Unions!
     -- Waffler, Smith, Arkansas     
    The entire quote is magnificently correct as per the de jure Constitutional Republic as was established. My focus here is on "The issuing power should be taken from the banks and restored to the people to whom it properly belongs." The de facto despotics that now infect this nation (as per executive, legislative, judicial edicts and decisions) are no longer of, by, or for We The People but rather, an ascendant and independent alien power unto itself that destroys liberty with its many tools, including larceny, through its funny money thieves of choice. Restoring the issuing power of monetary exchange to We The People to whom it properly belongs would be a gigantic step towards restoring stewardship to the once sovereigns and re-establishing the relationship of sovereign to representative (the representative would represent the individual sovereign of We The People, not the ascendant and independent alien power).
     -- Mike, Norwalk     
    I am in Canada at the moment. I am very interested in the news that is on T.V. here. It appears that the Canadian banking system has been regulated well, and as a result, it is in sound condition. Even though that road on the coat tails of the USA and received many benefits from being in a rather beneficial business association with us, now that we are in trouble, they want total disconnection with us. HHMMM. I think we should recall this once the ship rights itself.
     -- Ken, Milford Pa     
    More on the news in Canada. England has decreed that there will be no more emigration while there is such a financial crisis. The borders are now closed as they stated that their first responsibilty is to the English people and to the nation. You will not get this news in the U.S. because it might wake up some people. Imagine that, a government saying that they are going to put its people first and not worrying about being thought as racist or insensitive. Well they have my vote. Let's clean our country up, get (illegals) out, no matter where they are from, and focus on Americans and America.
     -- Ken, Milford Pa     
    You are really on to something Ken. I was offered a job in Winnepeg, Canada in 1976. I accepted and had to get permission from the Canadian governement. They declinded saying the job could be filled by a Canadian national. America for current Americans is a great idea however with politicians dividing us rather than uniting us that is a stretch. Many of us it seems would rather hire an illegal than a legal whom they would have to actually give benefits and raises.
     -- Waffler, Smith, Arkansas     
    The old saying that History repeats itself does not stand for now. I've never seen anything like the present time before, this total ineqality in a Western Country. Thomas Jefferson was so aware. What happened to all the people, are we all asleep?
     -- Christa Schmidt, Chicago     
     -- Anonymous      
    I found a site that says this quote is completely inaccurate. Check out http://wiki.monticello.org/mediawiki/index.php/Private_Banks_(Quotation)
     -- Andrew, Toronto, ON, Candada     
    The citation is wrong... there were letters exchanged between an economist and Jefferson. THERE you will find the quote which starts "I TOO believe..." as it was a response to the economist's letter!!!! Look into it. Dont spread false information. The movement is weak enough.
     -- Mason, liberty     
     -- Anonymous      
    This Quote is valid for the times we live but it is not a quote from Jefferson. Like most good untruths it is in part true but mostly fiction.I have rerad all the letters written between Jefferson and Gallatin and this quote does not exist........
     -- Harry Downing, Naples,FL     
    Harry, why don't you tell us what the real quote is then please?? No there's an idea?? Then, add in what part is truth, and which part is mostly fiction??
     -- Frank, New York, NY     
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