Republican (constitutionalist) former President Jefferson in a letter to Republican former Senator John Taylor, of the Commonwealth of Virginia, writes, “… I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
[added 12/4/2021] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
References:
Calvin D. Linton, ed. The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 78.
Current U.s. National Debt:
