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.......Unite 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 theis country was gnawed by hunger and
poverty. "The streets are covered with beggers and tramps", he wrote. He asked his English friends
how England, with all of it's wealth, could have so mush poverty among it's working classes.
His friends replied that England was a prey to a terrible condition : It had too many
workers! The rich said they were 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 Malthus, 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 poorhouses, and how they could overcome this plague of pauperism. Franklin replied,
"We have no poorhouses 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 beggers,
nor tramps."
Thanks To Free Money Issued By The Nation
His friends could not believe their ears, and even less understand this fact, since when the English
Poorhouses and jails became to cluttered, England shipped those poor wretches and down-and-outs
like cattle, and discharged, on the quays of the colonies, those who had survived the poverty, dirtiness
and deprivations 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 Script'. We issue it in proper proportion to make the goods
pass easily from the producers to the consumers. In this manner, creating ourselves our
own paper money, we control it's purchasing power and we have no interest to pay to no
one."
The Bankers Impose Poverty
This information came to the knowledge of the English bankers and held their attention. They
immediately took the necessary steps to have the British Parliament pass a law that prohibited the
colonies from using their 'Script' money, and then ordered them to use only the Gold and Silver money
that was provided in insufficient quantity by the English bankers. Then began in America the plague
of debt-money, which has ever since brought 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 unemployed and beggers, 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 bankers always
manage to have removed from the 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 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. "
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 script : "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 it's effects led to the happiness of the people.' " John Twells added In a bad hour
the English Parliament took away from America it's 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 asserts it's rights."
Another writer, Peter Cooper, expresses himself along the same lines. After having said how
Franklin expalined 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 enacted 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."