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Reply #38: Yeah, that Ben Franklin guy was pretty clever. [View All]

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fivepennies Donating Member (419 posts) Send PM | Profile | Ignore Wed Aug-03-11 07:02 PM
Response to Reply #34
38. Yeah, that Ben Franklin guy was pretty clever.
A study of American Colonial history will reveal that Benjamin Franklin went to England as a representative of the Colonies.

The English officials asked how it was the Colonies managed to collect enough taxes to build poor houses, and how they were able to handle the great burden of caring for the poor. Franklin's reply was most revealing: "We have no poor houses in the Colonies, and if we had, we would have no one to put in them, as in the Colonies there is not a single unemployed man, no poor and no vagabonds." Think long and hard about this. In the American colonies before the American Revolution, there was "not a single unemployed man, no poor and no vagabonds". -- no one on Welfare, no one on Social Security, no homeless, no income tax, no alphabet agencies, No IRS, BATF, FBI, DEA, CIA, HEW, OSHA, SBA, and on and on and on to provide for the "general welfare" of our villages, towns, cities and states. How did Benjamin Franklin explain this to the British officials of his day?
How would he explain it to today's lawyers, judges, politicians and other government officials? "It is because, in the Colonies, we issue our own paper money. We call it Colonial Script, and we issue only enough to move all goods freely from the producers to the Consumers; and as we create our money, we control the purchasing power of money, and have no interest to pay."
-Benjamin Franklin

This system guarantees HONEST MONEY. It was not controlled by a private corporation with a monopoly on the credit of the nation as it is today.

There was no inflation or deflation, as long as the MONEY SUPPLY WAS KEPT EQUAL TO THE VALUE OF GOODS AND SERVICES TO BE PRODUCED AND MOVED (distributed).
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