1975 – DEATH OF RALPH HAWTREY, BRITISH ECONOMIST, FRIEND OF JOHN MAYNARD KEYNES
“Banks lend by creating credit. They create the means of payment out of nothing.”
1832 – DEATH OF JOHANN WOLFGANG VON GOETHE, GERMAN WRITER
“None are more enslaved than those who falsely believe they are free.”
1894 – COXEY’S ARMY BEGINS MARCH
Jacob Coxey, a businessman from Massillon, Ohio organized a 500-strong “Coxey’s Army” march from Massillon (beginning on March 25, 1894) to Washington, D.C. (ending April 30) to promote federal intervention for job creation. The primary demand of this "petition in boots" was unique -- the direct printing and issuance of $500 million by the Federal Treasury to employ 4 million people.
Coxey's Army proposed two bills. The first, a "Good Roads Bill," would help farmers through $500 million issued by the federal government in legal tender notes, or greenbacks, to construct rural roads. The second, a noninterest-bearing bonds bill, would empower state and local governments to issue noninterest-bearing bonds to be used to borrow legal tender notes from the federal treasury. This money would be used to build urban libraries, schools, utility plants and marketplaces.
Millions of jobs would have been created -- debt-free.
NOTE: Rep. Dennis Kucinich has proposed a modern-day — but more sweeping — equivalent to the proposals of Coxey’s Army. One of the centerpieces of the National Emergency Employment Defense Act (HR 6550 in the last Congress, soon to be reintroduced in this Congressional session) is the issuance of interest- and debt-free government money to employ people to address the serious physical and social infrastructure needs in this country.
Article on Kucinich bill: http://moneyreform.wordpress.com/2011/01/21/create-jobs-and-improve-the-economy-through-public-control-of-our-money-system/
Kucinich bill: http://www.monetary.org/hr6550bill.pdf
SPECIAL ANNOUNCEMENT — FOR THOSE WHO LIVE IN NORTHEAST OHIO (out of area residents welcome too!)
Monday, April 11: Free Public Forum on Democratizing our Money System featuring Stephen Zarlenga, Director, American Monetary Institute, 7 PM, Peace House, 10916 Magnolia Ave., University Circle, Cleveland.
Zarlenga and the American Monetary Institute have worked with Rep. Kucinich on the National Emergency Employment Defense Act. Details of the April 11 program at http://www.afsc.net/PDFFiles/ZarlengaFlyer.pdf
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 email@example.com For more information, visit http://www.afsc.net/economiccrisis.html