James Madison actually said...

The most the bank could effect, would be to keep the institution alive by limited and local transactions

Message to the Senate Returning Without Approval 'An Act to Incorporate the Subscribers to the Bank of the United...'

01/29/1815

More James Madison Quotes

It was hoped that the successive confirmations of the extinction of the French decrees would have induced the Government of Great Britain to...

To secure greater respect to our mercantile flag.

The practice of smuggling, which is odious everywhere, and particularly criminal in free governments.

A prohibition is equally called for against the acceptance by our citizens of special licenses to be used in a trade with the United States.