He also paid off America's debt.
It should be, “The Media Has It Wrong”
Are we suddenly all going “Recent England grammar” in our grammar, now?
“He were there.”
“They is great.”
“Media have it”
“It was not easy for men engaged in the ordinary pursuits of business, whose attention had not been particularly drawn to the subject, to foresee all the consequences of a currency exclusively of paper, and we ought not on that account to be surprised at the facility with which laws were obtained to carry into effect the paper system. Honest and even enlightened men are sometimes misled by the specious and plausible statements of the designing. But experience has now proved the mischiefs and dangers of a paper currency, and it rests with you to determine whether the proper remedy shall be applied.
The paper system being founded on public confidence and having of itself no intrinsic value, it is liable to great and sudden fluctuations, thereby rendering property insecure and the wages of labor unsteady and uncertain. The corporations which create the paper money can not be relied upon to keep the circulating medium uniform in amount. In times of prosperity, when confidence is high, they are tempted by the prospect of gain or by the influence of those who hope to profit by it to extend their issues of paper beyond the bounds of discretion and the reasonable demands of business; and when these issues have been pushed on from day to day, until public confidence is at length shaken, then a reaction takes place, and they immediately withdraw the credits they have given, suddenly curtail their issues, and produce an unexpected and ruinous contraction of the circulating medium, which is felt by the whole community. The banks by this means save themselves, and the mischievous consequences of their imprudence or cupidity are visited upon the public. Nor does the evil stop here. These ebbs and flows in the currency and these indiscreet extensions of credit naturally engender a spirit of speculation injurious to the habits and character of the people. We have already seen its effects in the wild spirit of speculation in the public lands and various kinds of stock which within the last year or two seized upon such a multitude of our citizens and threatened to pervade all classes of society and to withdraw their attention from the sober pursuits of honest industry. It is not by encouraging this spirit that we shall best preserve public virtue and promote the true interests of our country; but if your currency continues as exclusively paper as it now is, it will foster this eager desire to amass wealth without labor; it will multiply the number of dependents on bank accommodations and bank favors; the temptation to obtain money at any sacrifice will become stronger and stronger, and inevitably lead to corruption, which will find its way into your public councils and destroy at no distant day the purity of your Government. Some of the evils which arise from this system of paper press with peculiar hardship upon the class of society least able to bear it. A portion of this currency frequently becomes depreciated or worthless, and all of it is easily counterfeited in such a manner as to require peculiar skill and much experience to distinguish the counterfeit from the genuine note. These frauds are most generally perpetrated in the smaller notes, which are used in the daily transactions of ordinary business, and the losses occasioned by them are commonly thrown upon the laboring classes of society, whose situation and pursuits put it out of their power to guard themselves from these impositions, and whose daily wages are necessary for their subsistence. It is the duty of every government so to regulate its currency as to protect this numerous class, as far as practicable, from the impositions of avarice and fraud. It is more especially the duty of the United States, where the Government is emphatically the Government of the people, and where this respectable portion of our citizens are so proudly distinguished from the laboring classes of all other nations by their independent spirit, their love of liberty, their intelligence, and their high tone of moral character. Their industry in peace is the source of our wealth and their bravery in war has covered us with glory; and the Government of the United States will but ill discharge its duties if it leaves them a prey to such dishonest impositions. Yet it is evident that their interests can not be effectually protected unless silver and gold are restored to circulation.”
Andrew Jackson Farewell Address, March 14, 1837
Relevant today, or not?
No such things a “crony capitalism” only “government corruption.” “Crony capitalism” is a term invented by government to deflect away from government’s own corruption and unconstitutional activities in granting favors for a price.
Business is not under the Constitution and goes as it should where it is most profitable to do business. If the government unconstitutionally offers business more profitability, the business would be negligent in not pursuing such profitability, but the government has acted illegally, unconstitutionally, and corruptly.
No wonder the Commie Left wants to take him off the $20 bill . . . he is a free-market economic conservative.
Andrew Jackson went to Washington with the slogan...”Route the Vipers out!”
What’s old is new again. He was fighting the same type of political insider ship.
I’m always fascinated by how the debate over Fiat money vs. Sound money goes. What we should look at is the numbers and here is what they seem to indicate. Fiat money is almost always better in the short run. Sound money is almost always better when measuring stability generation to generation. With sound money system our downtrends are longer and deeper than with a fiat money system. However generation over generation we see that a sound money system results in your capital still being worth about the same from generation to generation while with the Fiat money system your capital gets wiped out to just a third of its value in a generation of 25 years. Thus if you work hard to save up a nest egg by age 40 then you can expect it to be down to a third by age 65 and to a ninth by age 90. Of course the actual results will vary over time and past results is no guarantee on the future. But I find it fascinating how the discussion of this topic seems to dismiss how good Fiat systems seem to behave in the short run but how they have this unintended consequence of stealing two-thirds of your wealth every generation. And that’s assuming that the tax collectors and regulators haven’t managed to steal your money any other way.
Having Jackson’s face on fiat currency dishonors Jackson, and everything he stood for. Were he alive, he’d demand to be removed—and rightly so.
I bet most people don’t know that Jackson took pity on an Indian baby they found after the battle of Horseshoe Bend. Jackson and his wife adopted him.
When Baraq Obama ignores court orders, he is following in Andrew Jackson’s footsteps.
Fighting the Central Bank and crony capitalism, balancing the budget — and a war hero to boot. We can’t have someone like that on our bills.
Especially when the GOP is about to nominate a big-time crony capitalist.
I say we put Dwayne Elizondo Mountain Dew Herbert Camacho on the 1 dollar bill. That’s where we’re headed anyway.
And with this change there is only one Democrat left on the front of our paper currency - Jefferson on the rarely seen $2 bill
$1 - Washington - non-partisan (though some consider him a Federalist)
$2 - Jefferson - Democrat (known as democratic-republicans at the time)
$5 - Lincoln - Republican
$10 - Hamilton - Federalist
$20 - Tubman - Republican
$50 - Grant - Republican
$100 - Franklin - non-partisan
President Trump should send his Treasury secretary to cancel all this politically correct nonsense.