Economic Sovereignty Quotes
See {617208} his grandfather’s related statement.
This objective finally reached its peak in the Nixon administration when the U. S. went off the gold standard. 75 Years after FDR tried to make the U. S. dollar more resilient, America had been so successful that many foreign governments having the same problem of little or no control over their currency, have pegged their currency to the U. S. dollar, thus gaining our stability.
Earlier, Jefferson was opposed to manufacturing in America as factories were a social blight in Europe which he wanted to keep out of the United States. He felt that we could import whatever we needed from Europe and not have the evils of industrialization. However, with the War of 1812, the Barbary Pirates and his mellowing when no longer President, and his willingness to change his positions as he learned more, he issued this letter. See another the following year: {615634}. His was considered such an important change of position—today we would accuse him of a flip flop— that other journals and periodicals reprinted the letter and commented upon his change. Despite his changed position, most Americans believe that Jefferson was opposed to manufacturing and industrialization for his entire life—not just the first part.
The Country was still in the Depression.