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The end of democracy...(Spurious Quotation)

Quotation: "The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations."

Sources consulted:

  1. Papers of Thomas Jefferson: Digital Edition
  2. Thomas Jefferson: Papers collection in Hathi Trust Digital Library
  3. Retirement Papers

Earliest known appearance in print: 19941

Earliest known appearance in print, attributed to Thomas Jefferson: see above

Status:  This exact quotation has not been found in the writings of Thomas Jefferson.  It may be a mistaken amalgamation of the author's comments in the above 1994 reference with a real Jefferson quotation.  Jefferson wrote in 1825 to William Branch Giles of "vast accession of strength from their younger recruits, who having nothing in them of the feelings or principles of ’76 now look to a single and splendid government of an Aristocracy, founded on banking institutions and monied in corporations under the guise and cloak of their favored branches of manufactures commerce and navigation, riding and ruling over the plundered ploughman and beggared yeomanry."2  Chomsky's 1994 book quotes Jefferson's 1825 letter to Giles and then comments that "[Jefferson] warned that that would be the end of democracy and the defeat of the American revolution."

 

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