The banks themselves were doing business on capitals three-fourths of which were fictitious. This fictitious capital... is now to be lost, and to fall on somebody; it must take on those who have property to meet it, and probably on the less cautious part, who, not aware of the impending catastrophe, have suffered themselves to contract, or to be in debt, and must now sacrifice their property of a value many times the amount of the debt. We have been truly sowing the wind, and are now reaping the whirlwind.
Thomas JeffersonIf once the people become inattentive to the public affairs, you and I, and Congress and Assemblies, Judges and Governors, shall all become wolves. It seems to be the law of our general nature, in spite of individual exceptions.
Thomas Jefferson