Quote by Wright Patman

I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money. It is absolutely wrong for Government to issue interest–bearing obligations. It is not only wrong, it is absolutely unnecessary. I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money. I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue.
Author: Wright Patman, Source: Congressional Record pp. 7582-3, September 29, 1941Saved by cboyack in money federalreserve economy bank currency interest loan 2 years ago[save this] [permalink]

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