Political Quotes

Benjamin Franklin: “The truth is, that the balance of their trade with Britain being greatly against them, the gold and silver are drawn out…”

On the record
The truth is, that the balance of their trade with Britain being greatly against them, the gold and silver are drawn out to pay that balance; and then the necessity of some medium of trade has induced the making of paper-money, which could not be carried away.
Said by
Benjamin Franklin
Missouri

Editor's note · Context

Franklin explains that the trade imbalance with Britain necessitated the creation of paper money as a medium of exchange.

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