Extract from Thomas Jefferson to John Taylor
|November 26. 98.|
I wish it were possible to obtain a single amendment to our constitution; I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of it’s constitution; I mean an additional article taking from the federal government the power of borrowing. I now deny their power of making paper money or any thing else a legal tender. I know that to pay all proper expenses within the year would, in case of war, be hard on us. but not so hard as ten wars instead of one. for wars would be reduced in that proportion. besides that the state governments would be free to lend their credit in borrowing quotas.