Thomas Jefferson in 1937?

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. 

Is this a quote to be attributed to Thomas Jefferson or is it to be attributed to writing since 1937. Which, shouldn't be forgotten, was in the middle of the Great Depression and more than 100 years after the passing of the scribe of the Declaration of Independence.

Many people like to argue it was in a letter that Jefferson wrote on May 28th, 1816 to John Taylor (as seen here) which is available in the Library of Congress. Now, if the quote was there they'd may have a case for it being attributed to him, however, you cannot even find the word private in the entire letter, but here's the quote on banks:

And 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.

Quite a bit different, and definitely can see how the first quote and the one that is always attributed is more influenced by the 20s and 30s. While, I agree that there is some merit to what is said in the quote, it is also equally important to credit these merits to the correct people. Otherwise, you lose credibility in an intellectual manner, it is important. It'd be far different if Jefferson picked apart this process in 1816 than if some book wrote about it in 1937 in the middle of a major recession about the Central Banking elite.

I would quote the book, but I don't know what book it is so I will take this sites fact as what it says, but I may be wrong. I do know however, it is not in the letter on May 28th, 1816 with John Taylor.

   

Imagine...

Occupy Wall St.; Occupy Nothing

Recently there has been a movement known as Occupy Wall St. where tons of people gather in cities in the Northeast (D.C., New York, etc) to protest against capitalist greed, governement run amuck and whatever else. To me, it seems to be like the Tea Party, a good idea driven by special interest and driving home a message that is more of the same.

The Tea Party was named after an event at the Boston Harbor that sparked the revolution that created a folklore of heroes and villians. It was meant to spark a revolution of ideas, but was hijacked by the GOP and Fox News and turned into a mob of warmongers who won't a cut a thing. (How Rick Perry could be considered anything but establishment is beyond me, but not Fox News.)

The whole name of this movement seeks to blame capital greed of Wall St, which is very bad. However, we should note that you have to get an addict off a drug, before you can address the problems it causes (such as suicide) and not treating the other problems. If we continue to regulate Wall St., it will continue to stifle small business and destroy the middle-class.

I know some of these people marched on the Federal Reserve, but the majority of this movement is anti-capitalism and pro-Obama, but without knowledge that Wall St. is a symptom and not the problem, we will continue to see boom-bust cycles and the destruction of people's lives.

I personally recommend, to those who want to read an argument for smaller government to read Rollback by Tom Woods. It's the best argument I have ever read in that field and if you haven't read it on any part of political philosophy, I think it should be given a try.