We issue our own paper money. It's called 'Colonial Scrip.' We make sure it's issued in proper proportion to make the goods pass easily from the producers to the consumers. there is always adequate money in circulation for the needs of the economy.

Franklin told them: Why, that is simple! In the Colonies, we issue our own paper money. Its called Colonial Scrip. We issue it to pay the governments approved expenses and charities. We make sure its issued in proper proportion to make the goods pass easily from the producers to the consumers. In other words, we make sure there is always adequate money in circulation for the needs of the economy.






Read this amazing historical story your teachers never taught you....

(Much of the following historical material is taken from a radio

address given a half century ago by the late Congressman Charles G.

Binderup, of Nebraska, and compiled by Mrs. Lucie Boulrice, 1133

Liberty, Springfield, MA 01104. For more information, you may write or

call her at (413) 737-3080.


How America created its own money in 1750

Benjamin Franklin tells what made New England prosperous 

Colonies were more prosperous than the home country


Before the Declaration of Independence (1776) and the war that

followed, the colonized part of what is today the United States of

America was a Crown possession of England. It was called New England,

and was made up of 13 colonies, which became the original states of the

great Republic.


In 1750, this New England was very prosperous. Benjamin Franklin wrote:

"There was abundance in the Colonies, and peace reigned on every

border. It was difficult, even impossible, to find a happier and more

prosperous nation on all the surface of the globe. Comfort prevailed in

every home. The people, in general, kept the highest moral standards,

and education was widely spread."


When Franklin went over to England to represent the interests of the

Colonies, he saw a completely different situation; the working

population of the home country was gnawed by hunger and plagued by

inescapable poverty. "The streets are covered with beggars and tramps,"

he wrote. He asked his English friends how England, with all its

wealth, could have so much poverty among its working classes.

His friends replied that England was prey to a terrible condition; it had

too many workers!

The rich said they were already overburdened with

taxes, and could not pay more to relieve the needs and poverty of this

great mass of workers. Several rich Englishmen of that time actually

believed what economist Thomas Malthus later wrote, that wars and

epidemic disease were necessary to rid the country from "manpower


People in London asked Franklin how the American Colonies managed to

collect enough money to support their poorhouses, and how they could

overcome this plague of unemployment and pauperism.


Thanks to debt-free money issued by the colonial governments


Franklin replied; "We have no poorhouses in the Colonies, and if we had

some, there would be no one to put in them, since in the Colonies there

is not a single unemployed person, not a beggar nor a tramp."


His friends could not believe their ears, or understand how this could

  1. They knew when the English poorhouses and jails became too

cluttered, England shipped the wretched inmates like cattle, to be

dumped on the quays of the Colonies if they survived the filth and

privations of the sea voyage. (In those days English debtors went to

jail if they could not pay their debts, and few escaped, since in jail

they could not earn money.)


Franklin's acquaintences, in view of all this, asked him how he could

explain the remarkable prosperity of the New England Colonies.


Franklin told them: "Why, that is simple! In the Colonies, we issue our

own paper money. It's called 'Colonial Scrip.' We issue it to pay the

government's approved expenses and charities. We make sure it's issued

in proper proportion to make the goods pass easily from the producers

to the consumers. In other words, we make sure there is always adequate

money in circulation for the needs of the economy.

"In this manner, by creating ourselves our own paper money, we control

its purchasing power, and we have no interest to pay, to anyone. You

see, a legitimate government can both spend and lend money into

circulation, while banks can only lend significant amounts of their

promissory bank notes, for they can neither give away nor spend but a

tiny fraction of the money the people need. Thus, when your bankers

here in England place money in circulation, there is always a debt

principal to be returned and usury to be paid. The result is that you

have always too little credit in circulation to give the workers full

employment. You do not have too many workers, you have too little money

in circulation, and that which circulates, all bears the endless burden

of unpayable debt and usury."

English Bankers impose poverty on the Colonies

Franklin should not have been so free with his advice, which soon came

to the attention of the powerful English Bankers. They quickly used

their influence to have the British Parliament pass a law that

prohibited the Colonies from using their Colonial Scrip money. The new

law ordered them to use only credit redeemable in gold and silver coins

that were provided in insufficient quantity by the banks of England.

And so began in America the plague of debt-based money, which has ever

since brought as many hardships to the American people, as it has to



The first law regulating Colonial money was passed by the British

Parliament 1751, then expanded by a more restrictive law in 1763.


Franklin reported that only one year after implementation of the

prohibition on Colonial Scrip, the streets of the Colonies were filled

with unemployed and beggars, just like those he had seen in England,

because there was not enough money to pay for their goods and work. The

English Banker's new laws had reduced the circulating medium by half.

Franklin added that this was "the original and true cause of the

American Revolution;" and not the tax on tea or the Stamp Act, as has

been taught our children for generations in "history" books. The

Financiers (bankers) of every generation manage to have removed from

school books any information that can throw light on their own schemes

and fraudulent actions that protect their power over the people.


Franklin, one of the chief architects of American independence, put it

clearly: "The Colonies would gladly have borne the little tax on tea

and other matters had it not been for the poverty created by the bad

influence of the English Bankers on the Parliament, which has caused in

the Colonies hatred of England and the Revolutionary War."


Other great statesmen of that era, including Thomas Jefferson, John

Adams, and George Jackson confirmed this point of view held by

Franklin; and later by Andrew Jackson and Martin Van Buren. Abraham

Lincoln and John Kennedy both issued sovereign money, James Garfield

tried, and all three died in office.

A remarkably honest English historian, John Twells, speaking of the

money of the Colonies, their Colonial Scrip, wrote: "It was the

monetary system under which America's Colonies flourished to such an

extent that Edmund Burke was able to write about them: 'Nothing in the

history of the world resembles their progress. It was a sound and

beneficial system, and its effects led to the happiness of the people.'"


John Twells added: "In a bad hour, the British Parliament took away

from America its own scrip money, forbade any further issue of such

bills of credit, these bills ceasing to be legal tender, and ordered

that all taxes should be paid in British coins. Consider now the

consequences: this restriction of the medium of exchange paralyzed all

the industrial energies of the people. Ruin took place in these once

flourishing Colonies; most rigorous distress visited every family and

every business, discontent became desperation, and reached a point, to

use the words of Dr. Johnson, when human nature rises up and asserts

its rights."


Another historical writer, Peter Cooper, expressed himself along the

same lines. After saying how Franklin had explained to members of

Parliament the reason for the prosperity of the Colonies, Cooper wrote:

"After Franklin gave explanations on the true cause of the prosperity

of the Colonies, the Parliament enacted laws forbidding the use of this

money in the payment of taxes. This decree, clearly in the interest of

the British bankers who stood behind the Crown, brought so many

drawbacks and so much poverty to the people that it was the main cause

of the Revolution. The supression of the Colonial money was a much more

important reason for the general uprising than the Tea and Stamp Acts."

DANGER! The Scrip of the Bankers has Taken over America


Today, in America as well as in Europe, we are under the regime of the

Scrip of the Bankers instead of the scrip of the sovereign nations.

Hence the enormous public debts, everlasting interest (usury) charges,

taxes that plunder purchasing power and rob the production of the

people, with the result being more and more consolidation of the

financial dictatorship.


Where shall we start to correct the fraud of the bankers?


The first step in the monetary reform being advocated by more and more

action groups of educated and intelligent people is precisely the

replacement of the banks' debt money by debt-free money issued by the

Constitutionally mandated sovereign government of the nation, the

United States Congress, and elsewhere, the British Parliament, and

similar governments. It is the duty of those governments to serve and

protect their people, not allow financial robber barons to destroy them.

We must end the dictatorship of the moneyed interests!


It will soon become clear to you that we need to abolish the Federal

Reserve Banking System as a privately owned central bank controlled

partly by foreign interests. Check clearing must be taken over by the

  1. S. Treasury Department, and the commercial banks of our system must

no longer be permitted to create and issue debt money by fractional

reserve deposit expansion. A debt money system never provides money to

pay interest, so the banks ultimately acquire all the People's property

by foreclosure, as Thomas Jefferson said they would.

Learn more.

Study this go-oaktree site until you begin to grasp the essentials

of our money problem.

Learn the truth, before it is too late.

Find out how you can help yourself and your nation.

Download these flyers and circulate them via copy machines to friends who do not have Internet access.

Egilsstaðir, 13.03.2018 Jónas Gunnlaugsson

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