Did Jefferson, the first Republican, know about inflation.

Discussion in 'Economy' started by EdwardBaiamonte, Jan 30, 2012.

  1. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    Of course he did! He knew about everything!

    "That paper money has some advantages, is admitted. But that its abuses also are inevitable, and, by breaking up the measure of value, makes a lottery of all private property, cannot be denied. Shall we ever be able to put a constitutional veto on it" ?
     
  2. DSGE
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    DSGE VIP Member

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    Sound to me like he's concerned that if the government's hands aren't tied when it comes to the issue of money, it'll go around printing money and buying up everything it wants.

    Maybe a link would be good to where I can find Jefferson's Quantity Theory of Money?
     
  3. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    What makes you think Jefferson was the first repub? Many say he actually created the beginnings of the Democratic Party.

    Not sure if he was worried about inflation, but I'm pretty sure he was concerned about corruption and foreign influence in our banking system. Too much money and influence in too few hands was a major fear in those days by the Anti-Federalists, of which he was a leader.
     
  4. expat_panama
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    expat_panama Silver Member

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    You're assuming that 'thinking' has anything to do with this. This stuff is all made up, like--
    As for inflation, whether he ever worried about it, he saw more of it than we ever did--
    [​IMG]
     
  5. editec
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    editec Mr. Forgot-it-All

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    Go read a book.


    The Democratic-Republican Party was founded in the early 1790s by Thomas Jefferson and James Madison.


    The Republican Party was founded in 1854.
     
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  6. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    If you can show one primary source from the 1790's I'd pay you $10,000. Bet??? or run away with your liberal tail between your legs once again. Welcome to your first lesson in American History.
     
  7. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    He used the term in all of his speeches, letters etc. Newspapers Congressional Record , and historians called him a Republican too.

    Its important because it demonstrates that Democrats have no place at the founding of America. They really don't belong here. This is why they spied for Stalin.

    5th Congress (1797-1799)
    Majority Party: Federalist (22 seats)

    Minority Party: Republican (10 seats)

    Other Parties: 0

    Total Seats: 32

    ----------------------------------------------------------------------------------------------------

    6th Congress (1799-1801)

    Majority Party: Federalist (22 seats)

    Minority Party: Republican (10 seats)

    Other Parties: 0

    Total Seats: 32

    ----------------------------------------------------------------------------------------------------

    7th Congress (1801-1803)

    Majority Party: Republican (17 seats)

    Minority Party: Federalist (15 seats)

    Other Parties: 0

    Vacant: 2

    Total Seats: 34

    "Historians do not agree on the details surrounding the origin of Parties. Some believe that Jefferson forged the Republican party from coalition of existing state and local parties"....[in the 1790's].

    Page 31, Political Parties in America by Robert Huckshorn( most popular Political Science text on parties in USA.


    "Although people were still deeply ambivalent about political parties, although one party did not necessarily recognize the legitimacy of the other, and although men on both sides were nostalgic- at one time or another- for the imaginary golden age of political harmony, few people could be found in the early 1790's who believed the parties did not exist. The parties had names: Federalist and Republican."

    - Susan Dunn, Jefferson's Second Revolution.


    "In referring to political parties I have adopted the names which the respective parties used in self-designation. Thus the Jeffersonian party has been referred to throughout as the Republican Party. This name came into use early in the 1790's among persons who considered themselves of a common political "interest", and the term "Republican interest" was generally used until it was replaced by the more definite "Republican Party".

    The Jeffersonian Republicans( the formation of Party organization (1789-1801) by Noble E. Cunningham,Jr.


    -During a conciliatory moment at his Inauguration Jefferson said: "today we are all Republicans, we are all Federalists." (referring to the two majors parties at the time)
    We have called by different names brethren of the same principle. We are all Republicans, we are all Federalists. If there be any among us who would wish to dissolve this Union, or to change its republican form, let them stand undisturbed as monuments of safety with which error of opinion may be tolerated where reason is left free to combat it.
    - When Jefferson won the election of 1800 the National Gazette headline was, "Complete triumph of Republican firmness over the "obstinacy" of the Aristocrats"! ( what Republicans called big government Federalists)
     
    Last edited: Jan 31, 2012

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