Senate Document No. 23, Jan. 24, 1939: National Economy and the Banking System of the United States: A Few Quotations of Notable Leaders | WHAT REALLY HAPPENED

Senate Document No. 23, Jan. 24, 1939: National Economy and the Banking System of the United States: A Few Quotations of Notable Leaders

Benjamin Franklin, on being asked in Great Britain how he accounted for the prosperous condition of the Colonies, said:

That is simple. It is only because in the Colonies we issue our own money. It is called colonial scrip, and we issue it in the proper proportion to the demand of trade and industry.

It was not very long until this information was brought to the Rothschilds' bank, and they saw that here was a nation that was ready to be exploited; here was a nation that had been setting up an example that they could issue their own money in place of the money coming through the banks. So the Rothschild Bank caused a bill to be introduced in the English Parliament which provided that no colony of England could issue their own money. They had to use English money. Consequently the Colonies were compelled to discard their scrip and mortgage themselves to the Bank of England in order to get money. For the first time in the history of the United States our money began to be based on debt.

Benjamin Franklin stated that in 1 year from that date the streets of the Colonies were filled with the unemployed, because when England exchanged with them, she gave the Colonies only half as many units of payment in borrowed money from the Rothschild Bank as they had in scrip. In other words, their circulating medium was reduced 50 percent, and everyone became unemployed. The poor houses became filled, according to Benjamin Franklin's own statement. In his own language:

The colonies would gladly have borne the little tax on tea and other matters had it not been that Englad took away from the Colonies their money, which created unemployment and dissatisfaction.

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