“I sincerely believe that banking institutions are more dangerous than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.”

“We are now taught to believe that legerdemain tricks upon paper can produce as solid wealth as hard labor in the earth. It is vain for common sense to urge that nothing can produce nothing; that it is an idle dream to believe in a philosopher’s stone which is to turn everything into gold, and to redeem man from the original sentence of his Maker, “in the sweat of his brow shall he eat his bread.”

“Different persons, doubtless, will devise different schemes of relief. One would be to suppress instantly the currency of all paper not issued under the authority of our State or of the General Government; to interdict after a few months the circulation of all bills of five dollars and under: after a few months more, all of ten dollars and under; after other terms, those of twenty, fifty, and so on to one hundred dollars, which last, if any must be left in circulation, should be the lowest denomination. These might be a convenience in mercantile transactions and transmissions, and would be excluded by their size from ordinary circulation. But the disease may be too pressing to await such a remedy. With the legislature I cheerfully leave it to apply this medicine, or no medicine at all.”