James Madison: Project Confidence
on Monday, March 7, 2022James Madison Money Quote saying that projecting confidence is more important than money circulating. James Madison said:
“The circulation of confidence is better than the circulation of money” — James Madison
Share the James Madison Money quote image above on your site:
Short Link to this Quote:
In this quote, James Madison seems to be emphasizing the importance of trust and reliability in economic relationships over the actual exchange of currency. The best interpretation is:
- Madison argues that the “circulation of confidence” between parties, meaning the reliable flow of trustworthiness and credibility between economic actors, is more beneficial than merely circulating money.
- He appears to believe a strong foundation of trust and honorable dealings between businesses, banks, investors, etc. is more valuable to an economy than money changing hands alone.
- Madison implies that an environment of confidence and predictability in partnerships is key for enabling advanced transactions and investment that drive economic progress.
Overall, the quote conveys Madison’s view that a shared atmosphere of integrity, credibility and faith in counterparties is even more important for well-functioning markets than money circulating between participants. Financial systems depend as much on trust as they do on the trusty movement of currency according to Madison.
Birthday: March 16, 1751 – Death: June 28, 1836