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How Benjamin Franklin Caused the Revolutionary War

EO 11110

He Hate Me
Mother Lode
Jul 31, 2010
not thrilled with the title...but the point is the power to create money was the cause

long article, i just posted a clip...


Our American story begins calmly enough, by the mid 1700s, the Colonies were well established and fairly prosperous, there was full employment, no income tax, and prices were generally stable. Benjamin Franklin wrote, "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." U.S. Representative, Charles Binderup, Unrobing the Ghosts of Wall Street, July 5, 1941.

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When Franklin traveled to London in 1763, he saw a completely different situation. "The streets are covered with beggars and tramps," he wrote. He asked his friends how England, with all its wealth, could have so much poverty among its working classes. They replied that England had too many workers! The well-to-do were overburdened with taxes, and could not pay more to relieve the poverty of the unemployed workers. In a meeting with merchants and bankers at the British Board of Trade, members asked Franklin how the American Colonies managed to collect enough money to support their poor.

Franklin replied, "That is simple. In the Colonies, we issue our own money. It is called Colonial Scrip. 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." Both quotes from Charles Binderup, Ibid. "It passed through no banker's hands, but was loaned to the people direct, thus saving banking toll and banking restriction of volume; nor are there any panics or fluctuations recorded.

Thomas Powell, M.P., of England, who had acted as governor and commander-in-chief of all provinces, in a book written by him in 1768, says in regard to this colonial system of money: 'I will venture to say that there never was a wiser or better measure, never one better calculated to serve the uses of an increasing country, and never was a measure more steadily pursued or more faithfully executed for forty years together than the loan office in Pennsylvania, formed and administered by the assembly of the province.'"
Samuel Leavitt, Our Money Wars, 1894.


497th Recon Tech
Silver Miner
Site Supporter
Mar 30, 2010
Well I got to read the first page anyway. I use a add blocker and will never turn it off.