Ancestor Quote by Jacob G. Hornberger
“From the inception of our nation our American ancestors intended for the United States to operate under a precious-metals monetary system or, more specifically, under a monetary system in which people used gold and silver coins rather than paper money as the media of exchange.”
About This Quote
Source Essay: The Gold Standard Debate, Jacob G. Hornberger, 1995
The founders envisioned a currency backed by tangible metal to ensure stability and prevent inflation.
In simple terms: Founders wanted metal money for stability.
Key Takeaway
Consider metal-backed monetary policies.
Themes
economics
monetary policy
history
Mood
analytical
critical
Type
economic
historical
When to use this quote
- budget planning
- investment decisions
- policy making
Key Concepts
gold standard
inflation control
Questions to Reflect On
- Is a metal standard viable today?
- What alternatives ensure monetary stability?
A Different Perspective
Metal scarcity can limit flexibility.
![“In practice [monetary management] is merely a high-sounding euphemism for continuous currency debasement. It consists of constant lying in order to support constant swindling. Instead of automatic currencies based on gold, people are forced to take managed currencies based on guile. Instead of…” quote by Henry Hazlitt](https://sms4smile.com/quotes/img-quotes/c76/henry-hazlitt-2839_assured_in-practice-monetary-management-is-merel_416996.jpg)
![“The biggest threat to the American people today lies with the United States government. ... [T]he long-term solution is to dismantle, not reform, the iron fist of the welfare state and the controlled economy. This includes the end (not the reform) of the IRS, the DEA, the BATF, the SEC, the FDA…” quote by Jacob G. Hornberger](https://sms4smile.com/quotes/img-quotes/783/jacob-g-hornberger-22243_agency_the-biggest-threat-to-the-american-peopl_318145.jpg)
![“[D]ecade after decade, through taxes and regulations, governments at all levels took ever-increasing control over people's lives, wealth, and property. The control grew exponentially, decade after decade. The rationale was that the control was necessary -- for society, for the poor, for the…” quote by Jacob G. Hornberger](https://sms4smile.com/quotes/img-quotes/d0d/jacob-g-hornberger-22243_believe_d-ecade-after-decade-through-taxes-and-r_723709.jpg)
![“Now they [the Powers] have started the aggression, and the extinction of our nation is imminent. If we just fold our arms and yield to them, I would have no face to see our ancestors after death. If we must perish, why not fight to the death?” quote by Empress Dowager Cixi](https://sms4smile.com/quotes/img-quotes/947/empress-dowager-cixi-68177_after-death_now-they-the-powers-have-started-the-agg_53275.jpg)
