The Founders believed deeply in free expression but did not treat it as absolute. They distinguished between speech that informed the public and speech that directly endangered it.
"The liberty of the press is essential to the security of freedom in a state: it ought not, therefore, to be restrained in this commonwealth." — Massachusetts Constitution, Chapter I, Section XVI (1780), drafted by John Adams
However, the Founders recognized limits. James Wilson, a signer of the Declaration and Constitution, argued during the ratification debates that freedom of the press meant freedom from prior restraint — not freedom from consequences after the fact. John Adams, as president, signed the Alien and Sedition Acts (1798), which criminalized certain false statements about the government — a deeply controversial action that Thomas Jefferson and James Madison vehemently opposed through the Kentucky and Virginia Resolutions.
"I am... for freedom of the press, and against all violations of the Constitution to silence by force and not by reason the complaints or judgments, however false or unfounded, of the citizens against the conduct of their agents." — Thomas Jefferson, Letter to John Adams (1804)
Sources: Massachusetts Constitution (1780); Pennsylvania Ratifying Convention debates; Jefferson-Adams correspondence; Federalist Papers.