Topic: Economics, Matches 52 quotes.

I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.

Source: Thomas Jefferson, U.S. President

Topics: Economics

The few who understand the [banking] system, will either be so interested from it’s profits or so dependant on it’s favors, that there will be no opposition from that class.

Source: Rothschild Brothers of London, 1863

Topics: Economics

The Federal Reserve banks, while not part of the government,...

Source: United States budget for 1991 and 1992 part 7, page 10

Topics: Economics

Where The Bondage Of Debt Falls.

I know of no other factor which has had such potent influence, in the dissolution of nations which have flourished and passed away, as has the bondage of debt. When nations become debtors the only means of providing revenue with which to meet their obligations is by taxation. This burden falls heaviest upon the masses, the common people, who are the producers of the indispensable necessities of life.

The men who till the soil, who tend the flocks and herds, who dig from the earth the treasures which are hidden there, the men who take the raw materials which are provided by nature and convert them into the things which man requires for his convenience and comfort, who are real producers, they are the people who do the world’s work, fight the world’s battles, and pay the world’s taxes.

I know there are those who will not agree with me in this statement, and I shall not discuss it with them at this time, only to say that I have given the subject as careful study as I am capable of doing, and have concluded that commerce, the professions, and the great industrial systems of our country find means by which the burden of taxation may be shifted until in the last analysis it falls heaviest on the classes to which I have referred.

Source: President Anthony W. Ivins
General Conference, October 1921

Topics: Debt; Economics

The fostering of full economic freedom lies at the base of our liberties. Only in perpetuating economic freedom can our social, political, and religious liberties be preserved.

Source: David O McKay
Church News, 12 Mar. 1952, p. 2

Topics: Economics; Free Agency

May I add again an admonition: Live within your means. Get out of debt. Keep out of debt. Lay by for a rainy day which has always come and will come again. Practice and increase your habits of thrift, industry, economy, frugality. Remember that the parable of the ten virgins, the five that were wise and the five that were foolish, can be just as applicable to matters of the temporal world as those of the spiritual.

Source: President J. Reuben Clark, Jr.
General Conference, October 1937

Topics: Debt; Economics

Medium Of Exchange Created

In the beginning, trade was carried on by exchange of commodities, rather than by purchase and sale, with a recognized medium of exchange. In fact, in my time I have been in countries where this was almost the universal custom.

As civilization developed it became apparent that for the convenience of commerce and trade some medium of exchange, with a fixed and recognized ratio of value, must be created; and at a very early date gold and silver were used in the beginning counted by weight, as dust or in bars, as shown in the scripture which I have quoted, when Abraham weighed to Ephron, the son of Zohar, 400 shekels of silver, about $250.00, 3,800 years ago. At a later date minted coins, of specific weight, came into use.

Source: President Anthony W. Ivins
General Conference, April 1932

Topics: Economics; Free Market

Banking System Developed

As people, by industry and economy accumulated more than was required for their personal necessities, and merchants began to penetrate new countries with their caravans, and ships to sail the seas, it was common practice for those who had a surplus of money to lend it to those engaged in trade, in order that commerce might be carried on between different peoples and nations.

The borrower was required to pay a reasonable interest on the money obtained, but excessive usury was strictly forbidden.

It was from this simple beginning that our present system of banking has developed, until it has become the most important business occupation of the world.

This may appear to be an extravagant statement, but it is nevertheless true,

The business of the banker brings him in closer contact with every field of human endeavor than that of any other occupation.

He is the custodian of the hard-earned money of the husbandman, the widow, the fatherless, the doctor, lawyer, merchant, manufacturer, and the man who has no occupation at all, of whom I sometimes think we have too many, for it was written long ago that the idler shall not eat the bread nor wear the apparel of the laborer.

Source: President Anthony W. Ivins
General Conference, April 1932

Topics: Economics

Responsibility of the Banker

As custodian of the savings of the depositor, the banker assumes the responsibility of investing the funds entrusted to him in a manner that will bring to the depositor a reasonable return in interest upon his savings, and at the same time compensate the banker for the responsibility be assumes as the agent of the depositor, which is very great

Source: President Anthony W. Ivins
General Conference, April 1932

Topics: Economics

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