When a banker, in addition to his other functions, is also an issuer of paper money, he gains an advantage (...) the banker by issuing it levies a tax on every person who has money in his hands or due to him. He thus appropriates to himself a portion of the capital of other people, and a portion of their revenue.

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Quote text and notes from Wikiquote: John Stuart Mill (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.