>"The Bank of England has played a prominent role in American history Without it, the United States would not exist. The American colonists considered themselves loyal Englishmen to a man, but when they began to enjoy unequaled prosperity by printing and circulating their own Colonial scrip, the stockholders of the Bank of England went to George III and informed him that their monopoly of interest-bearing notes in the colonies was at stake. He banned the scrip, with the result that there was an immediate depression in the commercial life of the Americas. This was the cause of the Rebellion; as Benjamin Franklin pointed out, the little tax on tea, amounting to about a dollar a year per American family, could have been borne, but the colonists could not survive the banning of their own money." Eustace Mullins, The World Order, 1985.
>Franklin reported that one year after the implementation of the Currency Act that the streets of the Colonies were filled with unemployed beggars, just like in England. The amount of circulating money had been cut in half. Franklin stated that the British Currency Act was the true cause of the American Revolution - and not the tax on tea or the Stamp Act. Franklin wrote, "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 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." Robert Lantham Owen, National Economy and the Banking System of the United States, 1939.
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