MONETARY HISTORY CALENDAR March 10-16 ---------------------------------------------- MARCH 11 1893 – PUBLICATION OF “PANIC CIRCULAR” BY THE AMERICAN BANKERS ASSOCIATION [Note: Many individuals, including several US public officials, claimed they received the document. The American Bankers Association denied its authenticity]. The document calls on member banks to incite a financial panic to prevent greater public controls of banks, to counter increased public sentiment toward government-issued money and as a means to oppose silver (as opposed to gold) being used as a backing for currency. The alleged document stated, “You will at once retire one-third of your circulation (your paper money) and call in one-half of your loans. Be careful to make a monetary [emergency] among your patrons, especially among influential businessmen… “The future life of national banks as fixed and safe investments depends upon immediate action, as there is an increasing sentiment in favor of Government legal-tender notes and silver coinage MARCH 12 1753 - DEATH OF GEORGE BERKELEY, ANGLICAN BISHOP OF CLOYNE IRELAND, PHILOSOPHER Berkeley wrote The Querest in 1735. It was written as questions, which suggested their own answers. On whether money has inherent value, he asked/wrote: Whether money is to be considered as having an intrinsic value, or as being a commodity, a standard, a measure, or a pledge as is variously suggested by writers? On the evolution of exchange and money, Whether in the rude original society the first step was not the exchanging of commodities, the next a substitution of metals by weight as the common medium of circulation, after this the making use of coin, lastly a further refinement by the use of paper with proper marks and signatures? And whether as it is the last so it be not the greatest improvement? And whether money be not in truth tickets or tokens for conveying and recording such power, and whether it be of great consequence what materials the tickets are made of. MARCH 14 1782 - BIRTH OF THOMAS BENTON, US SENATOR, MISSOURI “I object to the renewal of the charter of the Bank of the United States because I look upon the bank as an institution too great and powerful to be tolerated in a government of free and equal laws. Its power is that of the purse, a power more potent than that of the sword, and this power it possesses to a degree and extent that will enable this bank to draw to itself too much of the political power of this Union, and too much of the individual property of the citizens of these States. The money power of the bank is both direct and indirect. yamaguchy/library/benton/benton_187.html 1881 - INAUGURAL ADDRESS OF PRESIDENT JAMES GARFIELD “The chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. 1900 – US GOLD STANDARD ACT APPROVED It established gold as the only metal standard for redeeming paper money. Populists had campaigned for several years before, culminating in the 1896 Presidential election, to include silver as a standard for redeeming paper money. Banks controlled most of the gold and thus the basis for issuing paper money. Populists wanted to expand the money supply to meet the needs of an expanding economy and country. Banks wanted to maintain control of the money supply. President William McKinley (from Canton, Ohio), strongly backed by the nation’s major corporations, signed the Act. Whether gold and/or silver, banking money with metal moved the nation further away from the Greenbacks, the debt- and interest-free currency issued as credit, of the Lincoln administration. MARCH 15 1767 – BIRTH OF ANDREW JACKSON, SEVENTH PRESIDENT OF THE UNITED STATES “I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. You tell me that if I take the deposits from the Bank and annul its charter. I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out and, by the Eternal, I will rout you out.” 1834 Jackson successfully opposed re-chartering the private “Second Bank of the United States.” He vetoed a bill in 1832 renewing the bank’s charter (license). 2003 - QUOTE BY CHRISTOPHER MARK, AUTHOR OF THE GRAND DECEPTION: THE THEFT OF AMERICA AND THE WORLD, PART III Welcome to the world of the International Banker, who like the famous film, The Wizard of Oz, stands behind the curtain of orchestrated national and international policymakers and so-called elected leaders. MARCH 16 1751 – BIRTH OF JAMES MADISON, FOURTH PRESIDENT OF THE UNITED STATES History records that the money changers have used every form of abuse, intrigue, deceit and violent means possible to maintain their control over governments by controlling the money and its issuance. 1938 – HOUSE RESOLUTION (HR) 7230 INTRODUCED John William Wright Patman, Democratic Congressman 1938-1978 and Chairman, Committee on Banking & Currency, introduces a bill to nationalize the Federal Reserve System. The Federal Reserve is a total moneymaking machine. It can issue money or checks, and it never has a problem of making its checks good, because it can obtain the $5 or $10 bills necessary to cover its check simply by asking the Treasury Departments Bureau of Engraving to print them.” ----------------------- Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt? Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice. This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development. Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo
Posted on: Tue, 11 Mar 2014 10:21:09 +0000
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