Bears Quote by Thomas Jefferson
![“It is a [disputed] question, whether the circulation of paper, rather than of specie [gold and silver coin], is a good or an evil I believe it to be one of those cases where mercantile clamor will bear down reason, until it is corrected by ruin.” quote by Thomas Jefferson](https://sms4smile.com/quotes/img-quotes/8ed/thomas-jefferson-43_bears_it-is-a-disputed-question-whether-the-ci_2519938.jpg)
“It is a [disputed] question, whether the circulation of paper, rather than of specie [gold and silver coin], is a good or an evil I believe it to be one of those cases where mercantile clamor will bear down reason, until it is corrected by ruin.”
About This Quote
Source Letter: Letter to James Madison, 1798
Jefferson argues that paper money, driven by merchants, seems beneficial but will ultimately cause ruin unless corrected.
In simple terms: Paper money looks good but can cause disaster.
Key Takeaway
Beware short‑term gains that lead to long‑term loss.
Themes
economics
currency
risk
politics
history
Mood
cautious
analytical
historical
Type
political
economic
philosophical
When to use this quote
- banking policy
- government fiscal decisions
- investment strategies
- personal finance
- historical analysis
Key Concepts
inflation
specie standard
mercantilism
financial cycles
Questions to Reflect On
- What safeguards can prevent financial ruin?
- How do modern economies balance paper and metal money?
A Different Perspective
Paper money can be stable if properly regulated; the quote may overstate inevitable ruin.
![“Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of…” quote by David Ricardo](https://sms4smile.com/quotes/img-quotes/efc/david-ricardo-9461_all-state_experience-however-shows-that-neither-a_1285424.jpg)
![“[States and the Federal government are] coordinate departments of one simple and integral whole... The one is the domestic, the other the foreign branch of the same government.” quote by Thomas Jefferson](https://sms4smile.com/quotes/img-quotes/401/thomas-jefferson-43_branches_states-and-the-federal-government-are-co_2619.jpg)
![“Single acts of tyranny may be ascribed to the accidental opinion of a day; but a series of oppressions, begun at a distinguished period and pursued unalterably through every change of ministers, too plainly prove a deliberate, systematic plan of reducing [a people] to slavery.” quote by Thomas Jefferson](https://sms4smile.com/quotes/img-quotes/00c/thomas-jefferson-43_change_single-acts-of-tyranny-may-be-ascribed-t_5515.jpg)
![“Though you cannot see, when you take one step, what will be the next, yet follow truth, justice, and plain dealing, and never fear their leading you out of [any difficult situation] in the easiest manner possible...” quote by Thomas Jefferson](https://sms4smile.com/quotes/img-quotes/ebe/thomas-jefferson-43_difficult_though-you-cannot-see-when-you-take-one_9828.jpg)
![“The rationale which accompanies that imposition of male authority euphemistically referred to as 'the battle of the sexes' bears a certain resemblance to the formulas of nations at war, where any heinousness is justified on the grounds that the enemy is either an inferior [part of the] species or…” quote by Kate Millett](https://sms4smile.com/quotes/img-quotes/895/kate-millett-7301_accompany_the-rationale-which-accompanies-that-imp_8896.jpg)
