1851- BIRTH OF CHARLES MACUNE, HEAD OF SOUTHERN FARMERS’ ALLIANCE AND ORIGINATOR OF THE POPULIST “SUB-TREASURY PLAN”
The “Sub-Treasury Plan,” developed by the southern Populist Macune, was an ingenious proposal to circumvent banking corporations, merchants and landlords by farmers to avoid debt at high interest, which often resulted in the loss of their farms. The proposal called for farmers to store their harvest in federal warehouses when prices for their commodities were low. Farmers would leverage those commodities for loans (up to 80% of the market value in federal notes) to support themselves until prices rose. The proposal was especially useful to southern farmers with non-perishable crops (i.e. cotton). The farmer had one year to sell the crop and then pay back the note and 1% interest.
1933 – ARTICLES OF IMPEACHMENT PRESENTED IN THE US HOUSE OF REPRESENTATIVES AGAINST THE FEDERAL RESERVE BOARD OF GOVERNORS , THE OFFICERS AND DIRECTORS OF THE FEDERAL RESERVE BANKS, THE US SECRETARY OF TREASURY AND OTHERS FOR THEIR COLLUSION IN CAUSING THE GREAT DEPRESSION.
The Articles of Impeachment were introduced by US Congressman Louis McFadden, Chairman of the House Banking and Currency Committee. McFadden stated, “The Great Depression was not accidental; it was a carefully contrived occurrence… bankers sought to bring about a condition of despair here, so that they might emerge as rulers of us all.”
“We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders, which prey upon the people of the United States for the benefit of themselves and their foreign customers….The truth is, the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly, which operates the Federal Reserve Board.”
1543 – DEATH OF NICOLAS COPERNICUS, MATHEMATICIAN AND ASTRONOMER
“Although there are countless maladies that are forever causing the decline of kingdoms, princedoms, and republics, the following four (in my judgment) are the most serious: civil discord, a high death rate, sterility of the soil, and the debasement of coinage. The first three are so obvious that everybody recognizes the damage they cause; but the fourth one, which has to do with money, is noticed by only a few very thoughtful people, since it does not operate all at once and at a single blow, but gradually overthrows governments, and in a hidden, insidious way.”
Debasement means lowering the value of. What lowers the value of our currency? How about creating it out thin air like the Federal Reserve via Quantitative Easing (QE) has done to prop up major banks?
1604 – ENGLISH COURT DECISION ON “MIXED MONEY” CASE
English court rules that sovereign governments possess the power to create, regulate, limit and define money.
“The Mixt Moneys case decided that Money was a Public Measure, a measure of value, and that, like other measures, it was necessary in the public welfare that its dimension of volume should be limited, defined and regulated by the State. The whole bodyof learning left us by the ancient and renascent world was invoked in this celebrated dictum: Aristotle, Paulus, Godin and Budelius were summoned to its support; the Roman law, the common law and the statutes all upheld it; “the State alone had the right to issue money and to decide of what substances its symbols should be made, whether of gold, silver, brass or paper. Whatever the State declared to be money, was money.” – from The History of Money in America by Alexander Del Mar
1924 – DEATH OF CHARLES LINDBERGH, REPUBLICAN CONGRESSMAN (MN) AND FATHER OF FAMED AVIATOR
“This [Federal Reserve] Act establishes the most gigantic trust on earth. When the president signs this bill, the invisible government by the monetary power will be legalized. The people may not know it immediately but the day of reckoning is only a few years removed, the worst legislative crime of the ages perpetrated by this bank bill.”
“The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt? Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice. This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development. Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact firstname.lastname@example.org