November 12, 1816 – Thomas Jefferson Expresses Favor For Crushing Monied Corporations

On this day in history, Thomas Jefferson penned a letter to Tom Logan conveying his fears about the rise of aristocracy in the U.S.:

I hope we shall … crush in [its] birth the aristocracy of our monied corporations which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country.”

Thomas Jefferson by Rembrandt Peale, 1805

Thomas Jefferson by Rembrandt Peale, 1805

This was not a new theme of Jefferson’s, but it usually was couched in attacks on Alexander Hamilton. Most recently, this quote was cited by Justice John Paul Stevens in concurring in part and dissenting in part in the Opinion of the Court for Citizens United v. Federal Election Comm’n (No. 08-205, decided January 21, 2010). Justice Stevens (who retired on June 29, 2010) employed entertaining sarcasm in noting:

The Framers thus took it as a given that corporations could be comprehensively regulated in the service of the public welfare. Unlike our colleagues, they had little trouble distinguishing corporations from human beings, and when they constitutionalized the right to free speech in the First Amendment, it was the free speech of individual Americans that they had in mind. While individuals might join together to exercise their speech rights, business corporations, at least, were plainly not seen as facilitating such associational or expressive ends.”

Justice John Paul Stevens

Justice John Paul Stevens

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