Interest Quote by Thomas A. Edison
““People who will not turn a shovel full of dirt on the project nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest ...But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold.””
About This Quote
The passage argues that government debt (bonds) benefits financiers while ordinary citizens who produce goods and services receive little, and it contrasts this with a currency system that rewards productive contribution. It critiques interest and the reliance on debt to fund national wealth.
In simple terms: Debt enriches financiers, currency should reward producers.
Key Takeaway
Interest and debt distort fair compensation.
Themes
Economic inequality
Fiscal policy
Monetary theory
Interest criticism
Government debt
Wealth distribution
Mood
Critical
Skeptical
Concerned
Type
Political
Economic
Philosophical
When to use this quote
- National budgeting
- Public infrastructure financing
- Monetary reform debates
- Fiscal policy analysis
Key Concepts
Bond vs currency
Interest rates
Productivity reward
Fiscal sustainability
Practical Applications
- Designing debt‑free monetary systems
- Advocating progressive taxation
Questions to Reflect On
- How can a government fund public needs without creating debt?
- What mechanisms could align financial returns with productive contribution?
A Different Perspective
Some argue that well‑managed sovereign bonds can fund essential public goods and stimulate growth, countering the claim that all debt is inherently exploitative.
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