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America v. The Federal Reserve
As a brief follow-up to this article, I would like to share some brief trivia regarding the men who appear on our paper currency.
George Washington
George Washington was our first President under the U.S. Constitution system of government. His Secretary of the Treasury was a man named Alexander Hamilton. More on that in a moment.
Thomas Jefferson
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
–Thomas Jefferson
Letter to the Secretary of the Treasury
Albert Gallatin (1802)
Abraham Lincoln
During the Civil War, Abraham Lincoln, a career-long advocate of central banking and fiat money, issued his own “Lincoln Greenbacks” to finance the war. Unlike other currency of the time, these notes were not redeemable for gold or silver- just like our currency today.
Alexander Hamilton
From Wikipedia:
Hamilton created the Federalist party, the first American political party, which he built up using Treasury department patronage, networks of elite leaders, and aggressive newspaper editors he subsidized both through Treasury patronage and by loans from his own pocket. His great political adversary was Thomas Jefferson who, with James Madison, created the opposition party (of several names, now known as the Democratic-Republican Party). This opposition party intended to counter Hamilton’s urban, financial, industrial goals for the United States, and his promotion of extensive trade and friendly relations with Britain.
Andrew Jackson
From Wikipedia:
Jackson followed Jefferson as a supporter of the ideal of an “agricultural republic” and felt the bank improved the fortunes of an “elite circle” of commercial and industrial entrepreneurs at the expense of farmers and laborers. After a titanic struggle, Jackson succeeded in destroying the bank by vetoing its 1832 re-charter by Congress and by withdrawing U.S. funds in 1833.
Ulysses S. Grant
From Wikipedia:
Grant’s legacy has been marred by charges of anti-Semitism. The most frequently cited example is the infamous General Order No. 11, issued by Grant’s headquarters in Oxford, Mississippi, on December 17, 1862, during the early Vicksburg Campaign. The order stated in part:
The Jews, as a class, violating every regulation of trade established by the Treasury Department, and also Department orders, are hereby expelled from the Department (comprising areas of Tennessee, Mississippi, and Kentucky)
Quick note to David Neiwert- it looks like the Federal Reserve is a bit antisemitic itself. As a psudeo-Jew, I find this image highly offensive. Boo hoo. Boo hoo.
Benjamin Franklin
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.
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