Bankers Quote by Nicholas Biddle
“Nothing but widespread suffering will produce any effect on Congress... Our only safety is in pursuing a steady course of firm restriction - and I have no doubt that such a course will ultimately lead to restoration of the currency and the re-charter of the bank.”
About This Quote
Source Letter: Private correspondence, 1832, United States
Strict financial discipline is viewed as the path to economic stability and currency restoration.
In simple terms: Discipline restores economy.
Key Takeaway
Implement firm fiscal restrictions.
Themes
economics
policy
currency
banking
Mood
analytical
concerned
Type
political
economic
When to use this quote
- government budgeting
- bank regulation
- economic reform
Key Concepts
fiscal restraint
monetary stability
Questions to Reflect On
- Is firm restriction the only solution?
- What are the human costs of strict fiscal policy?
A Different Perspective
May ignore social impacts of austerity.
![“What I think is bugging this guy [Steven Lerner] is the belief that debt - forced debt upon middle-class people, students (i.e., student loans and so forth) - has made Wall Street bankers and financial people excessively, unfairly, out-of-proportionally rich.” quote by Rush Limbaugh](https://sms4smile.com/quotes/img-quotes/f15/rush-limbaugh-28_bankers_what-i-think-is-bugging-this-guy-steven_28590.jpg)
