LAST DITCH OF DEMOCRACY - Majority Rights

Credit HAD existed, just like lightnin’ existed. Men had known about
credit long before Ben Franklin sent up his kite. Difference being that
Ben was a scientist. When he hitched his latch key on the kite-string, he
was in search of knowledge. Paterson was lookin’ for profits when he
sent up HIS kite: Bank hath profit of the interest on all the money that it
creates out of nothing.
Moral for good little boys: Mr. Franklin died honored, and I believe
fairly well off. Paterson died unhonored, and almost undiscovered; I
forget if it [his profit?] was cast away on a desert island, anyhow he went
bust. Yet Paterson got Europe pretty well muddled. You have THREE
phases in what might be called the increase of muddlement.
FIRST, mankind’s natural allurgicity, his natural rebellion against belief
that metal breeds, that silver or copper or gold will grow if you plant it
or shut it up in a box.
SECONDLY, the perception that MONEY which represents something
alive, vegetable or animal, may up to a point have the right to a
periodical profit or interest if used in a way that helps to produce
something useful, something enjoyable.
THIRDLY, you have the lowdown Scotch trick of trying to collect that
interest on money that represents nothing at all, money that is just
FLIGHT of an airy fancy, or that banks on human credulity, or on the
known trustfulness and laziness of mankind. And THAT’S what the
shootin’s about, brother Henry, that’s what the shootin’s about TO-day.
Do you follow me? Do you follow me? Or am I to be once more accused
of speakin’ in a rambling manner.
Faith, said the Irishman, NO man could be in two places at once … uh
… uh, not unless he were a bird. I am NOT trying to be in two places at
once. I am trying to get you to DISSOCIATE a few economic ideas,
trying to get your mind to conceive the nature of motion, to conceive the