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Title: BENJAMIN FRANKLIN: "The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War." Source: Benjamin Franklin's autobiography URL Source: http://www.saltcube.com/out-of-body/chat-forum/viewTopic.jsp?t=29238 Published: Jul 27, 2007 Author: Benjamin Franklin Post Date: 2007-07-27 17:10:24 by Uncle Bill Keywords: Abolish, The, FEDViews: 862 Comments: 28
"In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed."Benjamin Franklin "The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War."Benjamin Franklin - Benjamin Franklin's autobiography. During a visit to Britain in 1763, The Bank of England asked Benjamin Franklin how he would account for the new found prosperity in the colonies. Franklin replied. "That is simple. In the colonies we issue our own money. It is called Colonial Script. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one." Benjamin Franklin 1 [1. Congressman Charles G. Binderup of Nebraska, Unrobing the Ghosts of Wall Street] America had learned that the people's confidence in the currency was all they needed, and they could be free of borrowing debts. That would mean being free of the Bank of England. In Response the world's most powerful independent bank used its influence on the British parliament to press for the passing of the Currency Act of 1764. This act made it illegal for the colonies to print their own money, and forced them to pay all future taxes to Britain in silver or gold. Here is what Franklin said after that. "In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed." Benjamin Franklin "The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War." - Benjamin Franklin's autobiographyIncidentally, when the private Federal Reserve Bank was created the US once again lost control of its money supply. The Fed is indirectly controlled through ownership of its member banks by banks in the City of London and so the creation of the Fed put the US right back in the same state that the Founding Fathers fought a war to escape from. The Money Masters video goes into that in more detail: America Created It's Own Money in 1750How Benjamin Franklin Made New England ProsperousCopyright © 1941 by Congressman Charles G. Binderup The following historical story is taken from a radio address given by Congressman Charles G. Binderup of Nebraska, some 50 years ago and was reprinted in Unrobing the Ghosts of Wall Street:Colonies More Prosperous Than The Home CountryBefore the American War for Independence in 1776, the colonized part of what is today the United States of America was a possession of England. It was called New England, and was made up of 13 colonies, which became the first 13 states of the great Republic. Around 1750, this New England was very prosperous. Benjamin Franklin was able to write:"There was abundance in the Colonies, and peace was reigning on every border. It was difficult, and even impossible, to find a happier and more prosperous nation on all the surface of the globe. Comfort was prevailing in every home. The people, in general, kept the highest moral standards, and education was widely spread." When Benjamin Franklin went over to England to represent the interests of the Colonies, he saw a completely different situation: the working population of this country was gnawed by hunger and poverty. "The streets are covered with beggars and tramps," he wrote. He asked his English friends how England, with all its wealth, could have so much poverty among its working classes.His friends replied that England was a prey to a terrible condition: it had too many workers! The rich said they were already overburdened with taxes, and could not pay more to relieve the needs and poverty of this mass of workers. Several rich Englishmen of that time actually believed, along with Mathus, that wars and plague were necessary to rid the country from man-power surpluses.Franklin's friends then asked him how the American Colonies managed to collect enough money to support their poor houses, and how they could overcome this plague of pauperism. Franklin replied:"We have no poor houses in the Colonies; and if we had some, there would be nobody to put in them, since there is, in the Colonies, not a single unemployed person, neither beggars nor tramps." Thanks To Free Money Issued By The NationHis friends could not believe their ears, and even less understand this fact, since when the English poor houses and jails became too cluttered, England shipped these poor wretches and down-and- outs, like cattle, and discharged, on the quays of the Colonies, those who had survived the poverty, dirtiness and privations of the journey. At that time, England was throwing into jail those who could not pay their debts. They therefore asked Franklin how he could explain the remarkable prosperity of the New England Colonies. Franklin replied:"That is simple. In the Colonies, we issue our own paper money. It is called 'Colonial Scrip.' We issue it in proper proportion to make the goods and pass easily from the producers to the consumers. In this manner, creating ourselves our own paper money, we control its purchasing power and we have no interest to pay to no one." The Bankers Impose PovertyThe information came to the knowledge of the English Bankers, and held their attention. They immediately took the necessary steps to have the British Parliament to pass a law that prohibited the Colonies from using their scrip money, and then ordered them to use only the gold and silver money that was provided in sufficient quantity by the English bankers. Then began in America the plague of debt-money, which has never since brought so many curses to the American people.The first law was passed in 1751, and then completed by a more restrictive law in 1763. Franklin reported that one year after the implementation of this prohibition on Colonial money, the streets of the Colonies were filled with unemployment and beggars, just like in England, because there was not enough money to pay for the goods and work. The circulating medium of exchange had been reduced by half.Franklin added that this was the original cause of the American Revolution - and not the tax on tea nor the Stamp Act, as it has been taught again and again in history books. The financiers always manage to have removed from school books all that can throw light on their own schemes, and damage the glow that protects their power.Franklin, who was one of the chief architects of the American independence, wrote it clearly:"The Colonies would gladly have borne the little tax on tea and other matters had it not been the poverty caused by the bad influence of the English bankers on the Parliament, which has caused in the Colonies hatred of England and the Revolutionary War."This point of view of Franklin was confirmed by great statesmen of his era: John Adams, Jefferson, and several others. A remarkable English historian, John Twells, wrote, speaking of the money of the Colonies, the Colonial Scrip:"It was the monetary system under which America's Colonies flourished to such an extent that Edmund Burke was able to write about them: 'Nothing in the history of the world resembles their progress. It was a sound and beneficial system, and its effects led to the happiness of the people.'" John Twells adds:"In a bad hour, the British Parliament took away from America its representative money, forbade any further issue of bills of credit, these bills ceasing to be legal tender, and ordered that all taxes should be paid in coins. Consider now the consequences: this restriction of the medium of exchange paralyzed all the industrial energies of the people. Ruin took place in these once flourishing Colonies; most rigorous distress visited every family and every business, discontent became desperation, and reached a point, to use the words of Dr. Johnson, when human nature rises up and assets its rights." Another writer, Peter Cooper, expresses himself along the same lines. After having said how Franklin had explained to the London Parliament the cause of the prosperity of the Colonies, he wrote:"After Franklin gave explanations on the true cause of the prosperity of the Colonies, the Parliament exacted laws forbidding the use of this money in the payment of taxes. This decision brought so many drawbacks and so much poverty to the people that it was the main cause of the Revolution. The suppression of the Colonial money was a much more important reason for the general uprising than the Tea and Stamp Act." Today, in America as well as in Europe, we are under the regime of the Scrip of the Bankers instead of the scrip of the nation. Hence the public debts, everlasting interest charges, taxes that plunder purchasing power, with the only result being a consolidation of the financial dictatorship.There is only one cure for America's ultimate financial collapse and that is for Congress to exercise Clause 30 of the "Federal" Reserve Act, buy the outstanding shares of stock, shut down this unconstitutional system and sell off their assets to reimburse the people of this nation for this unspeakable theft of their wealth. This is the first installment of postings on this issue, new ones will be put up as soon as manpower allows.
"In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed."Benjamin Franklin
"The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War."Benjamin Franklin - Benjamin Franklin's autobiography.
America had learned that the people's confidence in the currency was all they needed, and they could be free of borrowing debts. That would mean being free of the Bank of England. In Response the world's most powerful independent bank used its influence on the British parliament to press for the passing of the Currency Act of 1764. This act made it illegal for the colonies to print their own money, and forced them to pay all future taxes to Britain in silver or gold. Here is what Franklin said after that. "In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed." Benjamin Franklin "The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War." - Benjamin Franklin's autobiography
The following historical story is taken from a radio address given by Congressman Charles G. Binderup of Nebraska, some 50 years ago and was reprinted in Unrobing the Ghosts of Wall Street:
Before the American War for Independence in 1776, the colonized part of what is today the United States of America was a possession of England. It was called New England, and was made up of 13 colonies, which became the first 13 states of the great Republic. Around 1750, this New England was very prosperous. Benjamin Franklin was able to write:
"There was abundance in the Colonies, and peace was reigning on every border. It was difficult, and even impossible, to find a happier and more prosperous nation on all the surface of the globe. Comfort was prevailing in every home. The people, in general, kept the highest moral standards, and education was widely spread."
When Benjamin Franklin went over to England to represent the interests of the Colonies, he saw a completely different situation: the working population of this country was gnawed by hunger and poverty. "The streets are covered with beggars and tramps," he wrote. He asked his English friends how England, with all its wealth, could have so much poverty among its working classes.
His friends replied that England was a prey to a terrible condition: it had too many workers! The rich said they were already overburdened with taxes, and could not pay more to relieve the needs and poverty of this mass of workers. Several rich Englishmen of that time actually believed, along with Mathus, that wars and plague were necessary to rid the country from man-power surpluses.
Franklin's friends then asked him how the American Colonies managed to collect enough money to support their poor houses, and how they could overcome this plague of pauperism. Franklin replied:
"We have no poor houses in the Colonies; and if we had some, there would be nobody to put in them, since there is, in the Colonies, not a single unemployed person, neither beggars nor tramps."
His friends could not believe their ears, and even less understand this fact, since when the English poor houses and jails became too cluttered, England shipped these poor wretches and down-and- outs, like cattle, and discharged, on the quays of the Colonies, those who had survived the poverty, dirtiness and privations of the journey. At that time, England was throwing into jail those who could not pay their debts. They therefore asked Franklin how he could explain the remarkable prosperity of the New England Colonies. Franklin replied:
"That is simple. In the Colonies, we issue our own paper money. It is called 'Colonial Scrip.' We issue it in proper proportion to make the goods and pass easily from the producers to the consumers. In this manner, creating ourselves our own paper money, we control its purchasing power and we have no interest to pay to no one."
The information came to the knowledge of the English Bankers, and held their attention. They immediately took the necessary steps to have the British Parliament to pass a law that prohibited the Colonies from using their scrip money, and then ordered them to use only the gold and silver money that was provided in sufficient quantity by the English bankers. Then began in America the plague of debt-money, which has never since brought so many curses to the American people.
The first law was passed in 1751, and then completed by a more restrictive law in 1763. Franklin reported that one year after the implementation of this prohibition on Colonial money, the streets of the Colonies were filled with unemployment and beggars, just like in England, because there was not enough money to pay for the goods and work. The circulating medium of exchange had been reduced by half.
Franklin added that this was the original cause of the American Revolution - and not the tax on tea nor the Stamp Act, as it has been taught again and again in history books. The financiers always manage to have removed from school books all that can throw light on their own schemes, and damage the glow that protects their power.
Franklin, who was one of the chief architects of the American independence, wrote it clearly:
"The Colonies would gladly have borne the little tax on tea and other matters had it not been the poverty caused by the bad influence of the English bankers on the Parliament, which has caused in the Colonies hatred of England and the Revolutionary War."
This point of view of Franklin was confirmed by great statesmen of his era: John Adams, Jefferson, and several others. A remarkable English historian, John Twells, wrote, speaking of the money of the Colonies, the Colonial Scrip:
"It was the monetary system under which America's Colonies flourished to such an extent that Edmund Burke was able to write about them: 'Nothing in the history of the world resembles their progress. It was a sound and beneficial system, and its effects led to the happiness of the people.'" John Twells adds:
"In a bad hour, the British Parliament took away from America its representative money, forbade any further issue of bills of credit, these bills ceasing to be legal tender, and ordered that all taxes should be paid in coins. Consider now the consequences: this restriction of the medium of exchange paralyzed all the industrial energies of the people. Ruin took place in these once flourishing Colonies; most rigorous distress visited every family and every business, discontent became desperation, and reached a point, to use the words of Dr. Johnson, when human nature rises up and assets its rights."
Another writer, Peter Cooper, expresses himself along the same lines. After having said how Franklin had explained to the London Parliament the cause of the prosperity of the Colonies, he wrote:
"After Franklin gave explanations on the true cause of the prosperity of the Colonies, the Parliament exacted laws forbidding the use of this money in the payment of taxes. This decision brought so many drawbacks and so much poverty to the people that it was the main cause of the Revolution. The suppression of the Colonial money was a much more important reason for the general uprising than the Tea and Stamp Act."
Today, in America as well as in Europe, we are under the regime of the Scrip of the Bankers instead of the scrip of the nation. Hence the public debts, everlasting interest charges, taxes that plunder purchasing power, with the only result being a consolidation of the financial dictatorship.
There is only one cure for America's ultimate financial collapse and that is for Congress to exercise Clause 30 of the "Federal" Reserve Act, buy the outstanding shares of stock, shut down this unconstitutional system and sell off their assets to reimburse the people of this nation for this unspeakable theft of their wealth. This is the first installment of postings on this issue, new ones will be put up as soon as manpower allows.
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Begin Trace Mode for Comment # 25.
#22. To: leveller, Uncle Bill (#0) During a visit to Britain in 1763, The Bank of England asked Benjamin Franklin how he would account for the new found prosperity in the colonies. Franklin replied. "That is simple. In the colonies we issue our own money. It is called Colonial Script. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one." Benjamin Franklin 1 [1. Congressman Charles G. Binderup of Nebraska, Unrobing the Ghosts of Wall Street] America had learned that the people's confidence in the currency was all they needed, and they could be free of borrowing debts. That would mean being free of the Bank of England. ======================================================= "Money is an idea backed by confidence." ~ Original Source Unk. "Give me control of a nation's money and I care not who makes her laws. ~ Mayer Amschel Rothschild (Head of the BANK of England and the Rothschild BANKING Family) Original_Intent posted on 2007-11-30 22:06:56 ET Reply Untrace Trace Private Reply #25. To: Original_Intent (#22) Colonial inflationary experiments? Do you really want us to repeat all those inflationary boom-and-bust mistakes? Ben Franklin? Not a particularly reliable thinker. Every one of those paper currencies were legal tender. And since they weren't backed by any commodity, they ultimately failed. Try to imagine a government issuing paper money without also making it legal tender for at least some taxes and debts. Check out Deacon Benjamin's comment no 7 above. Rothbard is not the only historian who has noticed that the colonial governments inflated their currencies. leveller posted on 2007-12-01 7:20:09 ET Reply Untrace Trace Private Reply Replies to Comment # 25. #28. To: leveller (#25) Colonial inflationary experiments? The British were counterfeiting the Colonial Script which made it worthless. this is one of the prime reasons for the Constitutional Convention in 1789. It was a reorganization under international bankruptcy law. BTW, the U.S. Government is bankrupt and insolvent and has been since 1933 when FDR abrogated the gold standard. Since that day there is no lawful money. And the Constitution has never been amended to effect such a change. ;) www.apfn.net/DOC- 100_bankruptcy.htm BTP Holdings posted on 2019-04-14 20:30:11 ET Reply Untrace Trace Private Reply End Trace Mode for Comment # 25. Top • Page Up • Full Thread • Page Down • Bottom/Latest
During a visit to Britain in 1763, The Bank of England asked Benjamin Franklin how he would account for the new found prosperity in the colonies. Franklin replied. "That is simple. In the colonies we issue our own money. It is called Colonial Script. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one." Benjamin Franklin 1 [1. Congressman Charles G. Binderup of Nebraska, Unrobing the Ghosts of Wall Street] America had learned that the people's confidence in the currency was all they needed, and they could be free of borrowing debts. That would mean being free of the Bank of England. ======================================================= "Money is an idea backed by confidence." ~ Original Source Unk. "Give me control of a nation's money and I care not who makes her laws. ~ Mayer Amschel Rothschild (Head of the BANK of England and the Rothschild BANKING Family)
During a visit to Britain in 1763, The Bank of England asked Benjamin Franklin how he would account for the new found prosperity in the colonies. Franklin replied. "That is simple. In the colonies we issue our own money. It is called Colonial Script. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one." Benjamin Franklin 1 [1. Congressman Charles G. Binderup of Nebraska, Unrobing the Ghosts of Wall Street] America had learned that the people's confidence in the currency was all they needed, and they could be free of borrowing debts. That would mean being free of the Bank of England.
"That is simple. In the colonies we issue our own money. It is called Colonial Script. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers.
In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one." Benjamin Franklin 1 [1. Congressman Charles G. Binderup of Nebraska, Unrobing the Ghosts of Wall Street]
America had learned that the people's confidence in the currency was all they needed, and they could be free of borrowing debts. That would mean being free of the Bank of England.
=======================================================
"Money is an idea backed by confidence." ~ Original Source Unk.
"Give me control of a nation's money and I care not who makes her laws. ~ Mayer Amschel Rothschild (Head of the BANK of England and the Rothschild BANKING Family)
Original_Intent posted on 2007-11-30 22:06:56 ET Reply Untrace Trace Private Reply
Colonial inflationary experiments? Do you really want us to repeat all those inflationary boom-and-bust mistakes? Ben Franklin? Not a particularly reliable thinker. Every one of those paper currencies were legal tender. And since they weren't backed by any commodity, they ultimately failed. Try to imagine a government issuing paper money without also making it legal tender for at least some taxes and debts. Check out Deacon Benjamin's comment no 7 above. Rothbard is not the only historian who has noticed that the colonial governments inflated their currencies.
Every one of those paper currencies were legal tender. And since they weren't backed by any commodity, they ultimately failed.
Try to imagine a government issuing paper money without also making it legal tender for at least some taxes and debts.
Check out Deacon Benjamin's comment no 7 above. Rothbard is not the only historian who has noticed that the colonial governments inflated their currencies.
leveller posted on 2007-12-01 7:20:09 ET Reply Untrace Trace Private Reply
#28. To: leveller (#25) Colonial inflationary experiments? The British were counterfeiting the Colonial Script which made it worthless. this is one of the prime reasons for the Constitutional Convention in 1789. It was a reorganization under international bankruptcy law. BTW, the U.S. Government is bankrupt and insolvent and has been since 1933 when FDR abrogated the gold standard. Since that day there is no lawful money. And the Constitution has never been amended to effect such a change. ;) www.apfn.net/DOC- 100_bankruptcy.htm BTP Holdings posted on 2019-04-14 20:30:11 ET Reply Untrace Trace Private Reply End Trace Mode for Comment # 25. Top • Page Up • Full Thread • Page Down • Bottom/Latest
Colonial inflationary experiments? The British were counterfeiting the Colonial Script which made it worthless. this is one of the prime reasons for the Constitutional Convention in 1789. It was a reorganization under international bankruptcy law. BTW, the U.S. Government is bankrupt and insolvent and has been since 1933 when FDR abrogated the gold standard. Since that day there is no lawful money. And the Constitution has never been amended to effect such a change. ;) www.apfn.net/DOC- 100_bankruptcy.htm
Colonial inflationary experiments?
The British were counterfeiting the Colonial Script which made it worthless. this is one of the prime reasons for the Constitutional Convention in 1789. It was a reorganization under international bankruptcy law.
BTW, the U.S. Government is bankrupt and insolvent and has been since 1933 when FDR abrogated the gold standard. Since that day there is no lawful money. And the Constitution has never been amended to effect such a change. ;)
www.apfn.net/DOC- 100_bankruptcy.htm
BTP Holdings posted on 2019-04-14 20:30:11 ET Reply Untrace Trace Private Reply
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