MONETARY HISTORY CALENDAR July 11-17

JULY 11

1862 – LEGISLATIVE ACT AUTHORITIZING US GOVERNMENT TO ISSUE MONEY
Congress passes legislation to issue and circulate $150 million in non-interest bearing, debt-free notes – Greenbacks.

JULY 13

1832 – CONGRESS FAILS TO OVERRIDE PRESIDENT JACKSON VETO TO RENEW THE CHARTER OF THE SECOND NATIONAL BANK OF THE UNITED STATES
In his veto message to renew the misnamed “national bank” (it was actually a private bank controlled/owned by stockholders, a majority of whom were foreigners), Jackson stated: “Controlling our currency, receiving our public monies, and holding thousands of our citizens in dependence…would be more formidable and dangerous than a naval and military power of the enemy.”

1956 – QUOTE OF OF J.R.R TOLKIEN, AUTHOR (THE HOBBIT AND LORD OF THE RINGS) AND UNIVERSITY OF OXFORD PROFESSOR IN CONTOUR MAGAZINE
The true equation is “democracy” = government by world financiers.
The main mark of modern governments is that we do not know who governs, de facto any more than de jure. We see the politician and not his backer; still less the backer of the backer; or, what is most important of all, the banker of the backer.
Throned above all, in a manner without parallel in all past, is the veiled prophet of finance, swaying all men living by a sort of magic, and delivering oracles in a language not understood of the people…
There should only be one source of money: one fountainhead from which flows the nation’s blood to vitalize commerce and industry, ensure economic equity and justice and safeguard the welfare of the people…In other words, it has always been and still is our contention that the prerogative of creating and issuing the money of the nation should be restored to the State.

JULY 14

1833 – DEATH OF WILLIAM GOUGE, ADVISOR TO PRESIDENT ANDREW JACKSON; AUTHOR, A SHORT HISTORY OF MONEY AND BANKING
"The large extent of bank influence is not easily seen. We seldom see an identified bank or a money corporation candidate running for office; but when questions arise which affect them, the banks have agents at work, whose operations are the more effective because they are unseen."

JULY 17

1780 – BANK OF PENNSYLVANIA ESTABLISHED
Quakers first introduced public banking in America with the creation of this state-owned bank which issued its own paper scrip which it lent to farmers. Resident paid no income taxes. There was no government debt and no inflation. The state prospered.

1862 – PASSAGE OF POSTAGE CURRENCY ACT
The act authorized the issuance of 5, 10, 25, and 50 cent notes – which were needed to substitute for gold, silver and copper coins which were hoarded. These fractional currency US debt-free notes, sold in perforated sheets like stamps, were redeemable by the US Post Offices at face value in postage stamps until 1876.


Note: Readers may be interested in this short piece connecting the current national debt ceiling Congressional deliberations and monetary policy
How Do We Eliminate the National Debt? Democracy.
http://createrealdemocracy.blogspot.com/2011/07/how-do-we-eliminate-national-debt.html

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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.
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