quotes tagged with 'currency'
Author: Nephi Packard, Source: LDS Church Archives, letter from Nephi Packard to A. Milton Musser on July 24, 1896
Second Great Rebellion or Chicago Quote - A. Milton Musser papers, LDS Church Archives.This was a letter from Nephi Packard to A. Milton Musser on July 24, 1896:
"... My brother, Noah Packard, says that he heard the Prophet Joseph say that the next great (U.S. civil) war after the war of the rebellion (the Civil War of the 1860's between the North and the South) would commence in a little town now called Chicago but at that time it would have grown to be a very large city. And another brother told me that the Prophet said that the cause of the next great trouble of the United States would be the depreciation of the currency of the United States. I believe I have given you all the facts in as short and concise manner as possible."
Another quote regarding the Civil War itself comes from an interview by Dr. Poulson with David Whitmer, printed in the Deseret News on Friday, August 16, 1878:
Question: When will the temple be built in Independence?
Answer: Right after the great tribulation is over
Question: What do you mean by that?
Answer: A civil war more bloody and cruel than the rebellion. It will be the smashing up of this nation, about which time the second great work has to be done, a work like Joseph did, and the translation of the sealed plates and peace all over.
Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.Author: John Maynard Keynes, Source: Economic Consequences of the Peace, pp. 235, 236, 
It is apparent from the whole context of the Constitution as well as the history of the times which gave birth to it, that it was the purpose of the Convention to establish a currency consisting of the precious metals. These, from their peculiar properties which rendered them the standard of value in all other countries, were adopted in this as well to establish its commercial standard in reference to foreign countries by a permanent rule as to exclude the use of a mutable medium of exchange, such as of certain agricultural commodities recognized by the statutes of some states as tender for debts, or the still more pernicious expedient of a paper currency. The last, from the experience of the evils of the issues of paper during the Revolution, had become so justly obnoxious as not only to suggest the clause in the Constitution forbidding the emission of bills of credit by the States, but also to produce that vote in the Convention which negatived the proposition to grant power to Congress to charter corporations.Author: Andrew Jackson, Source: Messages and Papers of the Presidents, Vol. 3, p. 246
Most unquestionably there is no legal tender, and there can be no legal tender in this country, under the authority of this government or any other, but gold and silver, either the coinage of our own mints, or foreign coins, at rates regulated by Congress. This is a constitutional principle, perfectly plain, and of the very highest importance. The States are expressly prohibited from making anything but gold and silver a tender in payment of debts; and, although no such express prohibition is applied to Congress, yet, as Congress has no power granted to it, in this respect, but to coin money, and to regulate the value of foreign coins, it clearly has no power to substitute paper, or anything else, for coin, as a tender in payment of debts and in discharge of contracts.Author: Daniel Webster, Source: Great Debates In American History, Vol. 13, p. 113
...the inability of the colonists to get the power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War. Author: Benjamin Franklin, Source: Autobiography
Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal - that there is no human relation between master and slave.Author: Leo Tolstoy, Source: Unknown
I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money. It is absolutely wrong for Government to issue interest–bearing obligations. It is not only wrong, it is absolutely unnecessary. I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money. I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue.Author: Wright Patman, Source: Congressional Record pp. 7582-3, September 29, 1941
Using force to compel people to accept money without real value can only work in the short run. It ultimately leads to economic dislocation, both domestic and international, and always ends with a price to be paid.Author: Ron Paul, Source: http://www.lewrockwell.com/paul/paul303.html
The economic law that honest exchange demands only things of real value as currency cannot be repealed. The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or Euros. The sooner the better.
When gold was used, and the rules protected honest commerce, productive nations thrived. Whenever wealthy nations – those with powerful armies and gold – strived only for empire and easy fortunes to support welfare at home, those nations failed.Author: Ron Paul, Source: http://www.lewrockwell.com/paul/paul303.html
When empires fall, their currencies fall first. Even clearer is the rising debt of empires in decline, because in most cases their physical expansion is financed with debt.Author: Rolf Nef, Source: http://www.financialsense.com/fsu/editorials/2007/0112b.html