Bogus Thomas Jefferson Quote

My friend Mark has been doing a bit of sleuthing with respect to a supposed Thomas Jefferson quote that’s been making the rounds lately:

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.” – Thomas Jefferson to Albert Gallatin, 1802

Mark’s tracked it to a 1937 United States Senate committee. Nice work, Mark.