Phoenix Journal 106 - Four Winds 10

AMERICAN FREEDOM
When the Pilgrims came to America, they did so with an abundance of faith and determination, but a dearth
of knowledge concerning economics and human nature. They initially instituted a system of common
ownership or “communism”. As a result, over half of them died of starvation and disease. Quickly learning
their lesson, every man was alloted his own parcel of land on which to grow his own food and build his own
home.
With little money available, the primary means of exchange was barter. Gradually, some foreign coinage
came into the colony and facilitated trade. However, as the economy of Massachusetts quickly grew, due
to its hardworking people, natural resources and free enterprise, the need for a medium of exchange
became acute.
Knowing about England’s tally system, Massachusetts issued debt-free paper scrip into circulation in
1690. Despite problems that developed with this invention, due to there being no standard of value, the
economy flourished with full employment. Other colonies adopted this system in varying degree and
prospered also.
During this period there was no official banking system. A few “Loaning Offices” were maintained by the
Colonies, but less than thirty private lending institutions existed in all 13 colonies! Today, they are more
numerous than churches, by far.
REAL REASON FOR REVOLUTION
There have been many reasons put forth for the American colonies separating from England, their mother
country, and the most powerful nation on Earth. Most of these were listed, in generalities, by Thomas
Jefferson in the Declaration of Independence. The first two of these read as follows:
He has refused his Assent to Laws, the most wholesome and necessary for the public
good.
He has forbidden his Governors to pass Laws of immediate and pressing importance,
unless suspended in their operation till his Assent should be obtained; and when so suspended,
he has utterly neglected to attend them.
What were these “most wholesome and necessary” laws that were of “immediate and pressing importance”?
Again, a knowledge of TRUE history is necessary to understanding. If you’ve guessed by now
that the ABs were involved, you are absolutely correct. The root of your War of Independence was the
issuance of their own paper money by the colonies, beginning with 7000 pounds issued by Massachusetts
in 1690, and culminating with the issue of “Colonials” by the Continental Congress.
In 1763, a century after The Bank of England was established, Benjamin Franklin was in England. He was
asked to explain why the colonies were so prosperous while England was suffering. He replied:
That is simple. It is only because in the Colonies we issue our own money. It is called
“Colonial Scrip”—and we issue it in the proper proportion to the demands of trade and
industry.
The Bank of England soon learned of this situation and forced Parliament to pass a Bill prohibiting the
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