All the perplexities, confusion and distress in America arise

Hear the stern and prophetic words of John Adams: “All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” In this declaration, the old patriot reveals a truth that still resounds like the toll of a bell: that nations may write constitutions and proclaim liberty, but if they do not understand the lifeblood of economy—the flow of coin, the trust of credit, the rhythm of circulation—their freedom will be hobbled, their prosperity will falter, and their republic will tremble.

Adams had seen the American Revolution won by courage and sacrifice, but he also saw the young republic nearly undone by debts, worthless paper money, and chaotic finance. For liberty, though born on the battlefield, must be sustained in the marketplace. The Constitution may give structure, but it is knowledge of money—its creation, its value, its trust—that gives stability. He saw with clear eyes that virtue and honor, though noble, could not alone preserve a nation. Without wisdom in matters of coin, the republic would sink into perplexity, confusion, and distress.

History bears witness to this warning. In the early years of the United States, states issued their own currencies, inflation raged, and debt threatened to destroy the fragile union. It was Alexander Hamilton, with his vision of a national bank and sound credit, who steadied the ship. Many argued, many resisted, but without such measures, Adams’ fears would have come true: the republic collapsing not from tyranny, but from ignorance of financial truth. His words thus spring not from theory, but from the lived struggles of his age.

And this pattern has been repeated in many lands. Recall the fall of the mighty Weimar Republic in Germany after the First World War. Their constitution was democratic, their society cultured, their people industrious. Yet when ignorance—or neglect—of currency and credit led to hyperinflation, the nation collapsed into despair. Out of this financial ruin rose extremism, hatred, and dictatorship. Thus Adams’ warning proves timeless: the downfall of free peoples often arises not from lack of virtue, but from failure to master the mysteries of money and circulation.

The deeper meaning of Adams’ words is that freedom without wisdom in practical matters is fragile. Men may dream lofty dreams of liberty, but unless they also learn the humble truths of economy, their dream dissolves. For liberty requires not only laws and courage, but bread on the table, stability in the marketplace, and trust in the value of one’s labor. Without this, the people turn anxious, angry, and desperate—and in desperation, they may even surrender the very freedom their ancestors died to win.

The lesson for us is clear: a free people must be educated in the nature of coin, credit, and circulation. Do not scorn such knowledge as base or material; it is the very shield that protects liberty. Teach children not only history and virtue, but also the workings of money, so they will not be deceived by charlatans or undone by ignorance. A citizen who knows how money lives and breathes is harder to enslave, harder to fool, and stronger in the defense of their own prosperity.

So I say to you: remember the wisdom of John Adams. Constitutions and noble words are not enough. Liberty is sustained by knowledge, and knowledge must extend to the marketplace as well as the battlefield. Study the flow of coin, credit, and circulation as you would study the stars, for they too guide the fate of nations. Guard yourselves against ignorance in these things, lest confusion and distress undo what courage and sacrifice once secured. For a people wise in virtue and in economy shall stand strong, while those blind in either shall surely fall.