Abraham Lincoln Central Bank Quote

Abraham lincoln understood the importance of a common national currency and bank credit to support a healthy economy. Speech concerning the state bank january 11 1837. As a young man in frontier indiana and kentucky he saw the ways in which unreliable paper money and inadequate credit frustrated the ambitions of his neighbors.

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Andrew jackson veto of the bank bill to the senate 1832 abraham lincoln and the civil war 1861 1865 with the central bank killed off fractional reserve banking moved like a virus through numerous state chartered banks instead causing the instability this form of economics thrives on.

Abraham lincoln central bank quote. Abraham lincoln ˈ l ɪ ŋ k ən. Allowing a central bank to lend money it is the creator of merely so that the government can inflate its country into a slow death instead of coming face to face with a coherent tax policy is not fine. The banking powers are more despotic than monarchy more insolent than autocracy more selfish than bureaucracy. From late 1839 through the presidential election of 1840 lincoln led the illinois whig campaign by focusing his party s program around the restoration of the bank of the united states.

Abraham lincoln speaking on the third attempt to establish a central bank in america. Abraham lincoln and the other henry clay whigs were determined to rescue american financial industrial and political independence. Abraham lincoln quote the government should create issue. Lincoln ran for the legislature in 1832 as a supporter of henry clay and what clay called the american system.

Lincoln led the nation through its greatest moral constitutional and political crisis in the american civil war he succeeded in preserving the union abolishing slavery bolstering the federal government and. The opposite is true. High tariffs federal money to build public works projects and a central bank. There are people who say that abraham lincoln opposed central banking.

In this his first published speech lincoln argued from the floor of the illinois house of representatives against a motion to investigate the state bank of illinois as a prelude to killing it much as president andrew jackson had killed the second bank of the united states bus another joint public private venture. The money powers prey on the nation in times of peace and conspire against it in times of adversity. February 12 1809 april 15 1865 was an american statesman and lawyer who served as the 16th president of the united states 1861 1865.