Although Thomas Jefferson certainly expressed disdain and mistrust of banking institutions, this particular quote bears all the hallmarks of being a retroquote — “words placed posthumously in the mouth of a well-known dead person.'
About this ratingI received this quote in an email and am trying to find out if is truly a quote by Thomas Jefferson:
One of the “Rules of Misquotation” outlined by Ralph Keyes in his 1992 book on that subject is the axiom that “famous dead people make excellent commentators on current events.
According to the Jefferson Encyclopedia, the earliest printed reference to this quotation found so far appeared in a 1937 Congressional subcommittee report, which means there is no known record of these words having been attached to Jefferson’s name until well more than a century after his death .
to Monroe, although it touches on the subject of banks and paper money in its second paragraph, does not include anything resembling the quotation in question.in “Respectfully Quoted: A Dictionary of Quotations” labels this quotation as “obviously spurious” for contextual reasons, noting that the Oxford English Dictionary‘s earliest citation for the word “deflation” dates only to 1920.
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