“When profit diminishes, merchants are very apt to complain that trade decays; though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before.”

It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.

All money is a matter of belief.

Mercy to the guilty is cruelty to the innocent.

We are but one of the multitude, in no respect better than any other in it.

Defense is superior to opulence.

Happiness never lays its finger on its pulse.

Corn is a necessary, silver is only a superfluity.

How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.

It is not for its own sake that men desire money, but for the sake of what they can purchase with it.

In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.

Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.

I am a beau in nothing but my books.

The great secret of education is to direct vanity to proper objects.

Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.

Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.

In a militia, the character of the laborer, artificer, or tradesman, predominates over that of the soldier: in a standing army, that of the soldier predominates over every other character.

Liberals say we should end employment discrimination. I say we should end employment.

Is it impossible to imagine Americans sneaking into Mexico en masse, seeking regular employment and a better way of life?

To engage in experiments on heat was always one of my most agreeable employments.

Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve’s other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

We know that when government monopolizes production, distribution, and employment, it is no longer the servant of men – it is their master.

We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy’s greatest contribution to general economic prosperity and maximum employment.

So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.