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 Posted: Tue Apr 10th, 2012 10:50 pm
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Joe Kelley
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http://babel.hathitrust.org/cgi/pt?id=miua.2916966.0001.001;view=1up;seq=1


Interest to Gold Bugs

Bills of exchange, bank checks, and negotiable paper of all sorts add just so much to the body of the currency; and this issue is unlimited by law, and unlimited in fact, except by the exigencies of trade. They are just as really currency as the specie dollar, the greenback, or the bank bill. A field which has no fence up one of its sides is not fenced in, no matter how high and strong its fences may be on the other sides. So, the volume of currency is not, in any true sense, limited by prohibitions of free banking, by a return to specie basis, or by any other means, so long as negotiable paper can be freely issued by individuals; and this free issue of negotiable paper is too useful, and too well entrenched in necessity, ever hereafter to be interfered with. Commerce can be hindered and trammeled to some extent—by statute arrangements claiming to regulate the currency, whether by restrictive measures, or by flooding the community with over-issues; but the volume of the currency can no longer be adjusted by such means.

Benjamin Tucker

"First in the importance of its evil influence they considered the money monopoly, which consists of the privilege given by the government to certain individuals, or to individuals holding certain kinds of property, of issuing the circulating medium, a privilege which is now enforced in this country by a national tax of ten per cent., upon all other persons who attempt to furnish a circulating medium, and by State laws making it a criminal offense to issue notes as currency. It is claimed that the holders of this privilege control the rate of interest, the rate of rent of houses and buildings, and the prices of goods, – the first directly, and the second and third indirectly. For, say Proudhon and Warren, if the business of banking were made free to all, more and more persons would enter into it until the competition should become sharp enough to reduce the price of lending money to the labor cost, which statistics show to be less than three-fourths of one per cent. In that case the thousands of people who are now deterred from going into business by the ruinously high rates which they must pay for capital with which to start and carry on business will find their difficulties removed. If they have property which they do not desire to convert into money by sale, a bank will take it as collateral for a loan of a certain proportion of its market value at less than one per cent. discount. If they have no property, but are industrious, honest, and capable, they will generally be able to get their individual notes endorsed by a sufficient number of known and solvent parties; and on such business paper they will be able to get a loan at a bank on similarly favorable terms. Thus interest will fall at a blow. The banks will really not be lending capital at all, but will be doing business on the capital of their customers, the business consisting in an exchange of the known and widely available credits of the banks for the unknown and unavailable, but equality good, credits of the customers and a charge therefor of less than one per cent., not as interest for the use of capital, but as pay for the labor of running the banks. This facility of acquiring capital will give an unheard of impetus to business, and consequently create an unprecedented demand for labor, – a demand which will always be in excess of the supply, directly to the contrary of the present condition of the labor market. Then will be seen an exemplification of the words of Richard Cobden that, when two laborers are after one employer, wages fall, but when two employers are after one laborer, wages rise. Labor will then be in a position to dictate its wages, and will thus secure its natural wage, its entire product. Thus the same blow that strikes interest down will send wages up. But this is not all. Down will go profits also. For merchants, instead of buying at high prices on credit, will borrow money of the banks at less than one per cent., buy at low prices for cash, and correspondingly reduce the prices of their goods to their customers. And with the rest will go house-rent. For no one who can borrow capital at one per cent. with which to build a house of his own will consent to pay rent to a landlord at a higher rate than that. Such is the vast claim made by Proudhon and Warren as to the results of the simple abolition of the money monopoly. "


Equitable Commerce

Mutual Banking

A New System of Paper Currency

Austrian Stamp Script

Austrian Stamp Script Worgle B

Demurrage

Money Masters

Math Based Economy

Guernsey Notes

Arbuck Plan

North Fork Shares

Las Vegas

Greece/Europe

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 Posted: Wed Jan 9th, 2013 12:17 am
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Joe Kelley
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Depression Script (when the goons steal too much all at once)

Time Banks

Icelandic Revolution?

Ithaca Hours

Everbank

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 Posted: Sat Nov 2nd, 2013 04:08 pm
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Joe Kelley
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Additions

Franklin ideas on money?

Thanks To Free Money Issued By The Nation

Fraud Money

In the autumn of 1690 an expedition, sent by Massachusetts to capture Quebec, returned without success. To defray its cost, which amounted to forty thousand pounds, and to satisfy complaints of "the want of an adequate measure of commerce," the general court, in December, 1690, ordered the issue of "seven thousand pounds of printed bills of equal value with money;" and of the remainder in May, 1691. In July, 1692, within nineteen months of the earliest emission, the first legislature under the new charter which transformed the self-governing colony of Massachusetts Bay into a direct dependency of Great Britain, made "all" these "bills of public credit current within this province in all payments equivalent to money, excepting specialties and contracts made before the publication" of this new law. Their credit was supported by receiving them in all public payments at a premium of five percent.
Costa Rica

There are 29 licensed banks, mutual associations and credit unions in Costa Rica, of which four were established as national, publicly-owned banks in 1949. They have remained open and in public hands ever since - in spite of enormous pressure by the I.M.F. [International Monetary Fund] and the U.S. to privatize them along with other public assets. The Costa Ricans have resisted that pressure - because the value of a public banking option has become abundantly clear to everyone in this country.

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