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Advantage Quote by James Madison

“With regard to Banks, they have taken too deep and too wide a root in social transactions, to be got rid of altogether, if that were desirable. They have a hold on public opinion, which alone would make it expedient to aim rather at the improvement, than the suppression of them. As now generally…” quote by James Madison
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“With regard to Banks, they have taken too deep and too wide a root in social transactions, to be got rid of altogether, if that were desirable. They have a hold on public opinion, which alone would make it expedient to aim rather at the improvement, than the suppression of them. As now generally constituted, their advantages whatever they be, are outweighed by the excesses of their paper emissions, and the partialities and corruption with which they are administered.”

James Madison

About This Quote

Source Speech: Remarks on the Bank of the United States, 1832

Banks have become overly influential in society, making it impractical to eliminate them; reform is preferable to abolition.

In simple terms: Banks are too powerful; reform, not removal.

Key Takeaway

Focus on improving regulation.

Themes

politics economics regulation power institutional critique

Mood

cautious critical

Type

political economic analytical

When to use this quote

  • policy making
  • financial oversight
  • public debate

Key Concepts

public opinion financial stability corruption excessive paper money

Questions to Reflect On

  • How can society balance banking benefits with risks?
  • What reforms could reduce corruption without harming the economy?
A Different Perspective

Reforming banks may be hindered by entrenched interests and political resistance.

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