"We've discussed the public sector union people. We are messing with their bread and butter. They have their hands in the treasuries of all states in which they operate and the US Treasury. They have their hands there. That's how they live. Now, we're broke and the states are broke for a multitude of reasons. What they're being paid is among them."

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Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.

— David Ricardo