"I have always been afraid of banks"

Andrew Jackson's quote "I have actually constantly been afraid of banks" shows his mistrust of banks. He was a strong advocate of the common man and also thought that banks were just thinking about their very own profits. He was also an advocate of hard money, which meant that he wanted the US to use silver and gold coins as money as opposed to paper money. He was concerned that financial institutions would produce excessive fiat money, resulting in rising cost of living as well as decreasing the value of the currency. He likewise thought that banks had too much power and also might control the economy for their very own advantage. Jackson's quote shows his worry that financial institutions would benefit from the people and also cause economic instability. He wanted to shield the people from the power of banks and make certain that the economic situation was secure and also reasonable.