LAST DITCH OF DEMOCRACY - Majority Rights

The true basis of credit consists in: the abundance of nature and the
responsibility of the whole people. In that case: the whole people of
Siena.
The present war dates AT LEAST from the founding of the Bank of
England at the end of the XVIIth century, 1694-8. Half a century later,
the London usurocracy shut down on the issue of paper money by the
Pennsylvania colony. A.D. 1750.
This is not usually given prominence in the U.S. school histories. The
thirteen colonies rebelled, quite successfully, twenty six years later, A.D.
1776. The first Congress of the new American Union defrauded the
revolutionary veterans by a very simple device, which appears in variant
forms after most modern wars. The soldiers pay certificates issued by the
states, depreciated. After they had been brought up at twenty cents to the
dollar by speculators, the national government “assumed” the payment
at par. That is at face value of one dollar per dollar.
This constituted the scandal of “assumption.” Claude G. Bowers gives a
good account of it in his Jefferson and Hamilton. After writing at least
three good books, two on Jefferson and. Hamilton, and one of the
Reconstruction era, Johnson’s administration after the American Civil
War, Mr. Bowers was made ambassador to Spain. So far as I know his
voice is not now heard in America.
It has been customary for well over a century, at least, that currencies
become inflated in war time, the value of the monetary unit declines, as
more and more human effort (WORK) goes into making munitions and
instruments of destruction and less and less into things people want for
their personal use.
Goods are destroyed rather than exchanged against other WANTED
goods, during war time. The ratio of units of currency, money, to things
people want to eat and to wear is altered, i.e., there are more dollars in