The Monetary Debate in 1869

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The Monetary Debate in 1869

December 29, 2011 by Keith Gardner

Dan Sullivan has published two good documents from 1869, which promote public debt-free and commodity-free legal tender from a Libertarian and Georgist perspective.

“Finance And Currency,” Congressman Benjamin F. Butler, Massachusetts, Address to the United States House of Representatives, Tuesday, January 12, 1869.
http://savingcommunities.org/docs/butlerbenjaminf/finance.html

“Thirty Years of Labor,” Terence Powderly, Chapter 9: The Circulating Medium.http://savingcommunities.org/docs/powderly.terence/30years09.html

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Intro Quotes

“It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer, and the other helps the people. If the currency issued by the Government were no good, then the bonds issued would be no good either. It is a terrible situation when the Government, to increase the national wealth, must go into debt and submit to ruinous interest charges at the hands of men who control the fictitious values of gold.” — Thomas Edison

“Once a nation parts with the control of its currency and credit, it matters not who makes the laws. Usury once in control will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of Democracy is idle and futile.” — Canadian P.M., William Lyon Mackenzie King

“Thou shalt not lend upon usury (interest) to thy brother, interest on the money, or on anything that is lent with interest.” — Deuteronomy 23:19

“Men did not make the earth… It is the value of the improvement only, and not the earth itself, that is individual property… Every proprietor owes to the community a ground rent for the land which he holds.” — Thomas Paine

"When the 'sacredness of property' is talked about it should always be remembered that any such sacredness does not belong in the same degree to landed property No man made the land. It is the general inheritance of the whole species." -- J.S. Mill

“Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise. ” — Thomas Jefferson

“Wherever, in any country, there are idle lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right.” — Thomas Jefferson

“For as labor cannot produce without the use of land, the denial of the equal right to use of land is necessarily the denial of the right of labor to its own produce.” — Henry George

“In my opinion, the least bad tax is the property tax on the unimproved value of land, the Henry George argument…” — Milton Friedman

“Moreover the profit of the Earth is for all….” — Ecclesiastes 5:9

“Behold that which I have seen: it is good and comely for one to eat and to drink, and to enjoy the good of all his labour that he taketh under the sun all the days of his life, which God giveth him: for it is his portion.” — Ecclesiastes 5:18

“The land shall not be sold for ever: for the land is Mine, for ye are strangers and sojourners with Me. And in all the land of your possession ye shall grant a redemption for the land.” — Leviticus 25:23-24
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Rejecting Marx, Keynes, AND Mises; Reviving Classical Liberalism and Georgism; Ending Taxation upon Toil; Overturning the Tables of Usury; Reclaiming the Profit of God's Earth for All