There are a set of men who go about making purchases upon credit, and buying estates they have not wherewithal to pay for; and having done this, their next step is to fill the newspapers with paragraphs of the scarcity of money and the necessity of a paper emission, then to have a legal tender under the pretense of supporting its credit, and when out, to depreciate it as fast as they can, get a deal of it for a little price, and cheat their creditors; and this is the concise history of paper money schemes.
Thomas Paine (1830). “Brief sketch of the life of Thomas Paine. Common sense. Epistle to Quakers. The crisis. Public good. Letter to the Abbe Raynal. Dissertations on government, the affairs of the bank, and paper money. Miscellaneous”, p.405
