John Adams: Credit Causes Distress

Posted by admin on Tuesday, November 23, 2010

John Adams Money Quotation saying failure to understand the banking system and workings of our financial system and credit machinations are at the core of American difficulties. John Adams said:
 
distresses in America not from Constitution, but ignorance of nature of coin, credit and circulation Quote
 

“All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation” — John Adams

 
#ConstitutionDay September 17
 
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