Showing posts with label Daniel Webster. Show all posts
Showing posts with label Daniel Webster. Show all posts

04 August 2009

Paper Money

Daniel Webster said,
We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.

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