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Subject Area: Political Theory
Topic: The American Revolution and Constitution

TO JAMES SULLIVAN. - John Adams, The Works of John Adams, vol. 9 (Letters and State Papers 1799-1811) [1854]

Edition used:

The Works of John Adams, Second President of the United States: with a Life of the Author, Notes and Illustrations, by his Grandson Charles Francis Adams (Boston: Little, Brown and Co., 1856). 10 volumes. Vol. 9.

Part of: The Works of John Adams, 10 vols.

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TO JAMES SULLIVAN.

In your letter of the 18th of August, you ask why we may not have as much paper in circulation in proportion to our circulating silver and gold, as Great Britain has in proportion to hers. Give me leave to answer you without hesitation. We may, as soon as we shall have any credit. We have none. No man of common sense will trust us. As long as an unlimited democracy tyrannized over the rich, no man of property was safe. If ever an unlimited aristocracy shall tyrannize over the poor and the moderately rich at once, the greater portion of society will not dare to trust the less. But if a government well ordered, mixed, and counterpoised should take place, and in consequence of it the commandment, “Thou shalt not steal,” be observed, then and not till then you may circulate what paper you may find necessary. But I doubt very much whether our circumstances will require any paper at all. The cash paid in imposts will immediately be paid to creditors, and by them circulated in society.