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" "Never was there a more perfect demonstration of the truth asserted by Daniel Webster, that, of all contrivances for defrauding the working people of a country, arbitrary issues of paper money are the most effective.
Andrew Dickson White (November 7, 1832 – November 4, 1918) was an American diplomat, author, and educator who was the co-founder and first president of Cornell University.
Biography information from Wikiquote
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This whole theory [of John Law and Jean Terrasson], as dear to French financial schemers in the eighteenth century as to American "Greenbackers" in the nineteenth, had resulted, under the Orleans Regency and Louis XV, in ruin to France financially and morally, had culminated in the utter destruction of all prosperity, the rooting out of great numbers of the most important industries, and the grinding down of the working people even to starvation.
The work of this young professor (Thomasius) and his disciples was to dethrone the heavy Protestant orthodoxy which had nearly smothered German patriotism, to undermine the pedantry which had paralyzed German scholarship, to substitute thought for formulas, to bring right reason to bear upon international and municipal law, to discredit religious intolerance, to root out witchcraft persecution and procedure by torture from all modern codes, and to begin that emancipation, of public and especially university instruction from theological control, which has given such strength to Germany, and which today is invincibly making its way in all other lands, including our own.
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