Contrary to popular myth, the United States Constitution rejects all monetary systems of Capitalism, Communism, and Socialism. Physical Economy of the American System of Franklin, Washington, and Hamilton, is a economy of high-technology capital formation originating from the Treasury of the United States! Now having said that. How do you organize a physical economic recovery of the United States, to create a more Perfect Union? In answering that question. We have to go back into history when the sovereign nation-state republic was won: Benjamin Franklin On MONEY “[T]he Riches of a Country are to be valued by the Quantity of Labour its Inhabitants are able to purchase, and not by the Quantity of Silver and Gold they possess.” In 1729, a young Benjamin Franklin published a “Modest Enquiry” to advocate a paper currency to the Pennsylvania assembly. Franklin knew that “hard money” backed by precious metals restricted commerce, as its supply remained static while the needs and powers of labor advanced. His advocacy of a well-regulated system of public credit would influence Alexander Hamilton, the founder of America’s first National Bank (i.e., U.S. Treasury). George Washington Against FREE TRADE “The promotion of domestic manufacturers will, in my conception, be among the first consequences which may naturally be expected to flow from an energetic government.” America’s first protective tariff, passed in 1792, charged an average 15.1% duty on imported manufactures. This not only funded 95% of the new government, it gave America’s infant industries a firewall against cheap labor and product dumping from abroad. Protective tariffs and opposition to free-trade figured centrally in American affairs until just decades ago, when we were led astray from this common-sense tradition. newparadigm.schillerinstute.org
Posted on: Sun, 26 Oct 2014 08:07:59 +0000
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