Card V-8: JOHN ADAMS – Every dollar issued in paper beyond the amount of the precious metals in the Vaults, represents nothing and is a dishonest fraudulent, swindling dollar.

Series V · Card 8 of 21 · THE MINE

Every dollar issued in paper beyond the amount of the precious metals in the Vaults, represents nothing and is a dishonest fraudulent, swindling dollar.

JOHN ADAMS · LETTER TO W. B. GILES · 1812

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Source

Letter to William Branch Giles, 22 December 1812 (Adams Family Papers, Letterbooks, Massachusetts Historical Society)

Open source · founders.archives.gov ↗

About the author

Founding Father and second President of the United States (1735–1826). Distrusted paper money all his life and defended gold and silver coin as honest money.

The question on the back

How important is it to you that money is backed by something real?