--- title: "Meaning & Key Takeaway of: The monopoly of a single bank is…" description: "\"The monopoly of a single bank is certainly an evil. The multiplication of them was intended to cure it; but it multiplied an influence of the same char..." image: "https://sms4smile.com/quotes/i/a0f/thomas-jefferson-43_character_the-monopoly-of-a-single-bank-is-certain_33902.jpg" --- # The monopoly of a single bank is certainly an evil. The… ![“The monopoly of a single bank is certainly an evil. The multiplication of them was intended to cure it; but it multiplied an influence of the same character with the first, and completed the supplanting the precious metals by a paper circulation. Between such parties the less we meddle the better.” quote by Thomas Jefferson](https://sms4smile.com/quotes/i/a0f/thomas-jefferson-43_character_the-monopoly-of-a-single-bank-is-certain_33902.jpg) [Download](https://sms4smile.com/quotes/i/a0f/thomas-jefferson-43_character_the-monopoly-of-a-single-bank-is-certain_33902.jpg) [Open image](https://sms4smile.com/quotes/i/a0f/thomas-jefferson-43_character_the-monopoly-of-a-single-bank-is-certain_33902.jpg) > “The monopoly of a single bank is certainly an evil. The multiplication of them was intended to cure it; but it multiplied an influence of the same character with the first, and completed the supplanting the precious metals by a paper circulation. Between such parties the less we meddle the better.” [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Jefferson warns that a single bank concentrates power, and that creating many banks merely spreads the same corrupt influence, replacing hard money with paper credit. **In simple terms:** Banking concentration spreads corruption. Key Takeaway More banks ≠ less power. Themes economic power financial regulation monetary policy wealth distribution institutional corruption Mood critical cautious skeptical Type political economic historical When to use this quote - policy debates on banking reform - historical analysis of early US finance - modern discussions on fintech and decentralization - academic courses on monetary history Key Concepts central banking paper money market competition government intervention Practical Applications - designing diversified financial systems - educating public on banking risks Questions to Reflect On - How does competition affect systemic risk? - What alternatives to paper money address Jefferson’s concerns? ★ ★ ★ ★ ★ No ratings yet [Bank Certainly](https://sms4smile.com/quotes/about/bank-certainly-435121/) [Character](https://sms4smile.com/quotes/about/character/) [Circulation](https://sms4smile.com/quotes/about/circulation/) [Cures](https://sms4smile.com/quotes/about/cures/) [Evil](https://sms4smile.com/quotes/about/evil/) [Evil Multiplication](https://sms4smile.com/quotes/about/evil-multiplication-435120/) [Firsts](https://sms4smile.com/quotes/about/firsts/) [Influence](https://sms4smile.com/quotes/about/influence/) [Metals](https://sms4smile.com/quotes/about/metals/) [Monopoly](https://sms4smile.com/quotes/about/monopoly/) [Multiplication](https://sms4smile.com/quotes/about/multiplication/) [Multiplied Influence](https://sms4smile.com/quotes/about/multiplied-influence-435122/) [Paper](https://sms4smile.com/quotes/about/paper/) [Party](https://sms4smile.com/quotes/about/party/) [Precious metal](https://sms4smile.com/quotes/about/precious-metal/) [Single Bank](https://sms4smile.com/quotes/about/single-bank-435119/) [Supplanting](https://sms4smile.com/quotes/about/supplanting-180975/) ## Related quotes > [All censorships exist to prevent anyone from challenging current conceptions and existing institutions.](https://sms4smile.com/quotes/george-bernard-shaw/all-censorships-exist-to-prevent-anyone-from-challenging-current/) [George Bernard Shaw](https://sms4smile.com/quotes/author/george-bernard-shaw/) > [The purpose of democracy - supplanting old belief in the necessary absoluteness of establish'd dynastic rulership, temporal, ecclesiastical, and scholastic, as furnishing the only…](https://sms4smile.com/quotes/walt-whitman/the-purpose-of-democracy-supplanting-old-belief-in-the-necessary/) [Walt Whitman](https://sms4smile.com/quotes/author/walt-whitman/) > [I'm trying to be somebody on whom the experience is lost by supplanting it with its telling. 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