“Where there is a free government, and the people make their own laws by their representatives, I see no injustice in their obliging one another to take their own paper money.”
- January 17, 1706 – April 17, 1790
- American
- Polymath, Founding Father of the United States, Inventor, Diplomat, Writer
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Quote
“Where there is a free government, and the people make their own laws by their representatives, I see no injustice in their obliging one another to take their own paper money.”
Explanation
In this quote, Benjamin Franklin defends the legitimacy of paper currency issued by a democratic government, emphasizing the role of representative self-governance. He argues that if the people, through their elected representatives, have agreed to use paper money as legal tender, then it is just and reasonable to require that all members of that society accept it in transactions. The key phrase, “I see no injustice,” reflects Franklin’s belief that the authority of the law derives its fairness from the consent of the governed.
This perspective was especially relevant in the 18th century, when colonial governments, including Pennsylvania where Franklin was active, began issuing paper money to support commerce and public finance. Critics argued that such money was unreliable or even immoral if it replaced gold and silver. Franklin, however, saw practical value and democratic legitimacy in a system where citizens collectively agreed on economic rules. His stance reflects Enlightenment ideals of popular sovereignty and pragmatic governance.
Today, Franklin’s statement resonates in debates over monetary policy, digital currencies, and public trust in government-issued money. It reinforces the idea that economic systems are not inherently just or unjust—they are legitimized through public consent and the rule of law. By linking monetary obligation to democratic self-rule, Franklin highlights the importance of participation and collective agreement in shaping fair economic practices.
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