The Pennsylvania Assembly charged a small interest on the paper currency it issued, and that financed the government. Á ríkiđ ađ eiga allt fjármagnsbókhaldiđ, og á ađ fjármagna Ríkiskassann, međ smá vöxtum á fjármagniđ frá bönkunum?

 Setjum af stađ umrćđur fćrustu, lćrđustu karla og kvenna, um fjármagns bókhaldiđ, fyrirfram prentuđu bókhaldsnóturnar, sem viđ köllum peninga.

Allir lesi sér til um málefniđ, og látum ekki spila á okkur meira.

Fjölmiđla eignin verđur ađ vera undir stjórn fólksins, og jafnframt tryggt ađ öll sjónarmiđ fái umfjöllun.

Nú er eignarhald á flestum fjölmiđlum í höndum bakstjórnarinnar, og einnig allt menntakerfiđ, og ţá kennslu efniđ.

slóđ

It was difficult, and even impossible, to find a happier and more prosperous nation on all the surface of the globe. Comfort was prevailing in every home. The people, in general, kept the highest moral standards, and education was widely spread

 

Thus, taking away from the colonists the right to issue their own money was indeed a grievance, but it was one of many and does not appear in the Declaration of Independence.

I made this point to Professor LeMay, who replied:

Dear Anthony,

Franklin objected to the English acts denying some colonies the right to make money because the Penns used that dodge to turn down the Pennsylvania Assembly bills.

The Pennsylvania Assembly charged a small interest on the paper currency it issued, and that financed the  government.

Penn (ie, Thomas Penn) scorned the assembly and wanted it at his mercy, so he generally had his governors turn down paper money bills. They said that Parliament would not want them to pass such bills. (They used that dodge rather than say Thomas Penn had forbidden them to do so, and taken out a bond for five thousand pounds that they would do


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