Political Quotes

Josiah Quincy: “Gambling speculation was the madness of the day; and, in the wide-spread ruin which we are now witnessing as the last…”

On the record
Gambling speculation was the madness of the day; and, in the wide-spread ruin which we are now witnessing as the last stage of this moral pestilence, Texan bonds and Texan lands form no small portion of the fragments from the wreck of money corporations contributing their assets of two or three cents to the dollar.
Said by
Josiah Quincy
Federalist · Massachusetts

Editor's note · Context

Quincy critiques the speculative frenzy of his era, linking it to the broader economic ruin and the collapse of financial institutions.

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