Daniel WebsterDaniel Webster, (1782-1852) US Senator

Daniel Webster Quote

“Of all contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money.”

Daniel WebsterDaniel Webster
~ Daniel Webster

Ratings and Comments

Mike, Norwalk

We hold this truth to be self evident

Me Again, Your Town,USA

There's alot of truth in that statement.NOW.. what can we do about it?

Anonymous, Reston, VA US

I prefer it to the concept of paying for work and goods strictly with other work and goods... money makes commerce possible, and paper money has as much value as any other form, be that other form gold (whose only value is that which those who seek it ascribe to it) or bits in a computer (as most today never actually see paper money for their pay or even for most of their fiscal transactions).

E Archer, NYC

Reston, do the math. Whatever we use as a medium for exchange whether it be tally sticks, paper, or bits and bytes, its issuance must not be held in private hands that may create 'money' at will. What if I could simply add $1 billion dollars to my bank account balance with the click of a button, is that OK with you? And then how about I start loaning this money to people and if they don't pay I take their house or car or have them imprisoned? Do you think that is OK? While I may not have the power to do such an obviously criminal act, those banks that lend us 'US dollars' in whatever form at interest are doing just that. Webster knew of what he spoke, and you should heed his warning. In the next year prices in America will rise steeply and many, many folks will go bankrupt and lose all their property. You can thank the Federal Reserve System for that -- and the US Congress, of course, for pouring so much paper money into the system to fund their war and social programs. Now other nations are dumping the dollar as their reserve currency -- many are switching to Euros and the Yen. Therefore the only thing that backs American currency -- confidence -- is dwindling, and our entire economy is crashing. Once enough people and businesses have gone bankrupt and their assets seized, our economy will flatten out. Happens all the time -- that is its inherent design and purpose. Wake up, you are being ripped off, big time (again).

Waffler, Smith, Arkansas

Better than going to work with a bologna sandwich in your pail and having to lug home a brick of gold every day. Then ya got lug that brick all over town to git yo needs. Thats no fun either.

E Archer, NYC

You can have the paper, Waffler, I'll take a brick of gold. Every day, you say? Hmm, a brick of gold is worth about $1 million -- what are you nuts? Sounds like a lot of fun to me. Talk about a 'specious' argument. Dolt.

Logan, Memphis, TN

I wouldn't mind even carrying an ounce of gold home everyday from work. I agree, Waffler can have the paper.

Mike, Norwalk

Anon from Reston, good to hear from you again and, its still just as easy to pick apart your half truths. Your statement (gold's "value is that which those who seek it ascribe to it") is true enough but, you forgot to mention that there is an intrinsic value to gold and there is a finite amount of it (a real deterrent to inflating the monetary supply). Paper with electronic digits are without limit. It is just as expensive to print a $1 dollar bill as it is to print a $1,000,000,000 dollar bill. (not so with gold) (-; a billion dollars here and a billion dollars there, pretty soon we're talking real money ;-) Waffler, I'll have some of what you're smokin and, can I go to work with you tomorrow (I'll supply the bologna sandwiches)?

jim k, austin tx

ahh Anonymous, you are at it again. Look up the definition of "intrinsic". Gold has intrinsic value. not bits of paper or numbers on a bank statement. The biggest swindle in American history was when the government outlawed the owning of gold and the sheeple turned it into the banks for paper.

J Carlton, Calgary

The concept of paper money is not the problem... the ability to create it from thin air with no backing and no value is the problem. It's counterfeiting and it's theft, plain and simple.

Waffler, Smith, Arkansas

People got tired of carrying this s%$# around so they gave it to Shylock somewhere in Italy, I think it was in Venice and he gave them a receipt for it. They then found that they could give their receipts to others in exchange for goods and services, voila! paper money. Eureka man advance apace. Later people found out that intrinsic value meant nothing what was and is important peoples faith in each other abilities to render goods and services to each other. You can not eat gold or silver, and women that wear it look like prostitutes, yet the value of an honest workman or farmer can hardly be calculated.

warren, olathe

Guess he didn't think of destroying them with promises of freebies from the government. That is clearly far worse.

Cal, lewisville, tx

Will Rogers said to invest in real estate because they ain't making no more of it, but money they will never cease.

Mike, Norwalk

I recently saw a meme that is very apropos here: - with slight modification, If you are more bothered by the face on the paper than the inscription "Federal Reserve Note" then you are part of the problem.


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