JP Morgan's Money is Gold quote from 1912 Congressional Testimony

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pmbug

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I looked it up this morning and am posting this citation for reference. It's documented on page 50 of the .PDF (it's page number 48 per the document itself) available at the link:
Q. But the basis of banking is credit, is it not? A. Not always. That is an evidence of of banking, but it is not the money itself. Money is gold, and nothing else.
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www.loc.gov

Testimony of J.P. Morgan before the Bank and Currency Committee of the House of Representatives, at Washington, D. C., appointed for the purpose of investigating an alleged money trust in "Wall street."

www.loc.gov
 
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