"Hamilton's financial system had then past. It had two objects. 1st as a puzzle, to exclude popular understanding & inquiry. 2dly, as a machine for the corruption of the legislature."Jefferson quote source: The Anas. 1791-1806. February 4, 1818.
Showing posts with label Central Bank. Show all posts
Showing posts with label Central Bank. Show all posts
Friday
On The Central Bank (Now known as the Federal Reserve)
Sunday
On The General Welfare
"For the laying of taxes is the power, and the general welfare the purpose for which the power is to be exercised. They are not to lay taxes ad libitum for any purpose they please; but only to pay the debts or provide for the welfare of the Union. In like many, they are not to do anything they please to provide for the general welfare, but only to lay taxes for that purpose.
To consider the latter phrase, not as describing the purpose of the first, but as giving a distinct and independent power to do any act they please, which might be for the good of the Union, would render all the preceding and subsequent enumerations of power completely useless."
(Emphasis added to Jefferson quote by Double Birds)
Jefferson quote source: Opinion of the Constitutionality of a National Bank.
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