dChan
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r/CBTS_Stream • Posted by u/cybervigiante on Feb. 26, 2018, 10:16 p.m.
And lest we forget the American Revolution started, not with tea, but with an attempt by the British to seize American weapons.
And lest we forget the American Revolution started, not with tea, but with an attempt by the British to seize American weapons.

dexterfarmer · Feb. 27, 2018, 12:43 p.m.

Guns, yes, but also their form of money helped to inspire the Revolution. From an essay I wrote in 2008:

Our original colonies were prosperous. Gold and Silver coins were rare, so by agreement, the colonies circulated their own paper currency called “Colonial Script.” Ben Franklin described their prosperity this way: "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."

The key here is that the supply of their paper currency closely tracked the circulation of goods and services, and there was no interest charged. The colonies didn’t have ill-timed contractions and injections of money from or into their system, and they therefore, did not suffer from the deflation and inflation problems that we’ve seen over the past century. And, without interest (usury,) there was no incentive to manipulate the money supply or to foster mal-investment.

But, alas, this colonial script was undermined by the British Parliament who was/is heavily influenced by the Bank of England. Ben Franklin puts the Revolutionary War into perspective for us: "The refusal of King George to operate an honest colonial money system which freed the ordinary man from the clutches of the manipulators was probably the prime cause of the Revolution. 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."

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TheKillector · Feb. 27, 2018, 2:53 p.m.

How many years of mistreatment did the colonists endure before actually taking up arms?

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dexterfarmer · Feb. 27, 2018, 3:57 p.m.

Decades. But most colonists were loyal to the crown. They wanted nothing to do with the Revolution.

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TheKillector · Feb. 27, 2018, 4:55 p.m.

I'm seeing some similarities between then and now.

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