The bankers, therefore, have no motive for issuing more of them than will remain long enough in circulation, to earn so much interest as will make it an object to issue them; the only motive for issuing them being to draw interest on them while they are in circulation.
Lysander Spooner: “The bankers, therefore, have no motive for issuing more of them than will remain long enough in circulation, to earn so…”
Editor's note · Context
Spooner argues that bankers are motivated to issue only as many notes as will earn interest.
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They do not carry their heads high, above all other men, and demand our reverence and admiration, as statesmen, patriots, and benefactors.
For all these reasons, they are not only modest and sensible, but really frank, honest, and honorable villains, contrasted with these courts of injustice, and the lawmakers by whom these courts are established.
They do not tell us that we are the freest and happiest people on earth, inasmuch as each of our male adults is allowed one voice in ten millions in the choice of the men, who are to rob, enslave, and murder us.
They do not attempt to deceive us, or mislead us, or reconcile us to their doings, by any such pretences, impostures, or insults as these.