“All the capital employed in paper speculation is barren and useless, producing, like that on a gaming table, no accession to itself, and is withdrawn from commerce and agriculture where it would have produced addition to the common mass: that it nourishes in our citizens habits of vice and idleness instead of industry and morality: that it has furnished effectual means of corrupting such a portion of the legislature as turns the balance between the honest voters whichever way it is directed: that this corrupt squadron, deciding the voice of the legislature, have manifested their dispositions to get rid of the limitations imposed by the Constitution by the general legislature, limitations, on the faith of which, the States acceded to that instrument: that the ultimate object of all this is to prepare the way for a change from the present republican form of government to that of a monarchy: that they are still eager after their object, and are predisposing everything for its ultimate attainment.”

Thomas Jefferson, as quoted by Henry Stephen Randall, The Life Of Jefferson, Vol 2, p 62., 1871