Re: TURMEL: Ben Franklin, Prof. Flaherty, on Death gamble

From: Castlef (joejmd_at_yahoo.com)
Date: 11/14/04 

Date: 13 Nov 2004 20:30:36 -0800

william_b_ryan@hotmail.com (Bill Ryan) wrote in message
>
> From Keith Wilde:
>
> My hunt for the origins of "Lincoln's Monetary
> Policy" led me to what is probably a more important
> question.
>
> To refresh your memory, several current Money Reform
> sites on the Internet publish a brief statement under
> the above title, and some of them go so far as to
> cite as a source "Senate Document 23, 1865" and
> embellish it as something Lincoln wrote himself just
> before his assassination - which was, they say, the
> act of his real enemies, the international bankers

In case anyone is curious in this matter.... the date 1865 is
incorrect.

Lincoln's monetary policy from Mayor McGeer's Conquest of Poverty has
been certified as correct by the Legislative Reference Service of the
Library of Congress at the instance of Hon. Kent Keller, Member of the
House of Representatives. See 76th Congress, 1st Session, Jan 3 - Aug
5, 1939, Senate Documents #10304, Vol 3, Senate Document 23, "National
Economy and the Banking System of the United States" by Robert L.
Owen, presented by Mr. Logan on January 24, 1939, page 91. For those
of you who like researching the original, try your local university or
state library. Ask if their library is a federal repository. Senate
Document 23 will probably be on microfiche. It is much easier to
order it in booklet form from Peter Cook, Monetary Science Publishing,
Box 86, Wickliffe, OH 44092. Ask for #761001-A, "2076 - Tricentennial
U. S. A.

LINCOLN's Policy

Money is the creature of law and the creation of the original issue of
money should be maintained as an exclusive monopoly of National
Government.

Money possesses no value to the State other than given to it by
circulation. Capital has its proper place and is entitled to every
protection. The wages of men should be recognized in the structure of
government and in the social order as more important than the wages of
money. 1

No duty is more imperative on the Government than the duty it owes the
people to furnish them with a sound and uniform currency, and of
regulating the circulation of the medium of exchange so that labor
will be protected from a vicious currency, and commerce will be
facilitated by cheap and safe exchanges.

The available supply of gold and silver being wholly inadequate to
permit the issuance of coins of intrinsic value or paper currency
convertible into coin in the volume required to serve the needs of the
people, some other basis for the issue of currency must be developed,
and some means other than that of convertibility into coin must be
developed to prevent undue fluctuations in the value of paper currency
or any other substitute for money of intrinsic value that may come
into use. The monetary needs of increasing numbers of people advancing
toward higher standards of living can and should be met by the
Government. Such needs can be served by the issue of national currency
and credit through the operation of a national banking system. The
circulation of a medium of exchange issued and backed by the
Government can be properly regulated and redundancy of issue avoided
by withdrawing from circulation such amounts as may be necessary by
taxation, redeposit, and otherwise.1 Government has the power to
regulate the currency and credit of the nation.

Government should stand behind its currency and credit and the bank
deposits of the Nation. No individual should suffer a loss of money
through depreciated or inflated currency or bank bankruptcy.

Government possessing the power to create and issue currency and
credit as money and enjoying the right to withdraw both currency and
credit from circulation by taxation and otherwise, need not and should
not 2 borrow capital at interest as the means of financing
governmental work and public enterprise.

The Government should create, issue, and circulate all the currency
and credit needed to satisfy the spending power of the Government and
the buying power of consumers.

The privilege of creating and issuing money is not only the supreme
prerogative of Government, but it is the Government's greatest
creative opportunity.

By adoption of these principles, the long-felt want for a uniform
medium will be satisfied.

The taxpayers will be saved immense sums in interest, discounts, and
exchanges.

The financing of all public enterprise, the maintenance of stable
government and ordered process, and the conduct of the Treasury will
become matters of practical administration. The people can and will be
furnished with a currency as safe as their own Government. Money will
cease to be master and become the servant of humanity. Democracy will
rise superior to the money power.

NoTiG

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