MONETARY HISTORY CALENDAR -- August 1-7

AUGUST 2

1100 – BEGINNING OF THE REIGN OF KING HENRY I OF ENGLAND
About 1100 AD, the King ordered the creation of a unique form of money. Made of wood, the currency was called “Tally Sticks.” They were polished sticks of wood declared by the Sovereign King to be good for the payment of taxes. The sticks were used as money by England for 726 years – included the period of the British Empire. It may be no coincidence that shortly after the Bank of England (a private entity) was established in 1694, it attacked the Tally Stick system. Nevertheless, the Sticks were accepted as money for another 150 years, until 1854.

AUGUST 3

1871 – BIRTH OF VERNON PARRINGTON, AMERICAN HISTORIAN
"The only safe and rational currency is a national currency based on the national credit sponsored by the state, flexible and controlled in the interests of the people as a whole."


AUGUST 6

1893 – BIRTH OF OF WRIGHT PATMAN, DEMOCRATIC CONGRESSMAN FROM TEXAS, CHAIRMAN OF US HOUSE COMMITTEE ON BANKING & CURRENCY (1965-75)
"I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with Congress for sitting idly by and permitting such an idiot system to continue. "

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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 monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html