Conspiracy Nation -- Vol. 11  Num. 04
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                     ("Quid coniuratio est?")
 
 
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COIN'S FINANCIAL SCHOOL -- I
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Synopsis by Conspiracy Nation
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(Based on *Coin's Financial School* by William Harvey (1895))

Coin, a young financier  living  in Chicago, established a school
of finance.  The school opened on May 7, 1894.   The  school  was
dedicated,  "To  those  trying  to locate the seat of the disease
that threatens the life of the nation."

Professor Coin begins with a  quote  from "The Report of the U.S.
Monetary Commission of 1878."

  History records no such disastrous transition as that  from
  the  Roman  empire  to the dark ages...  [In the Roman era]
  the metallic money  of  the  Roman  empire amounted to $1.8
  billion.  By the end of the fifteenth century it had shrunk
  to $200 million...  The  discovery  of  the  New  World  by
  Columbus,  restored  the  volume  of  precious metals [and]
  enabled society to reunite  its  shattered links, shake off
  the shackles of feudalism, and to relight  and  uplift  the
  almost extinguished torch of civilization.

In  money there must be a unit.  In arithmetic, the number "1" is
the unit.  All countings are  sums  or multiples of that unit.  A
unit, in mathematics, is a necessity as a basis to start from.

In making money it was equally necessary to establish a unit.  In
1792, Congress fixed the monetary unit at 371.25 grains  of  pure
silver. That much silver was to constitute a dollar.

Gold  was made money, but its value was counted from these silver
units or dollars.  The ratio between silver and gold was fixed at
15 to 1, and afterward at 16 to 1.

This continued to be the law  up  to 1873.  Up until then, no one
could say that the silver in a silver dollar was  only  worth  47
cents.

Up  until  1873, we were on what was known as a bimetallic basis,
but what was in fact a silver basis.  (Silver fixed the unit, and
the value of gold was regulated by it.)

Our forefathers showed much  wisdom  in  selecting silver, of the
two metals, out of which to make the unit.  Silver was  the  most
favored  as  money by the people.  It was scattered among all the
people.  Men having a design  to  injure business by making money
scarce, could not so easily get hold of all the silver  and  hide
it away, as they could gold.

On  February  12, 1873, Congress passed an act purporting to be a
revision of  the  coinage  laws.   This  law  repealed the *unit*
clause in the law of 1792, and in its place substituted a law  in
the following language:

  That  the  gold  coins  of  the  United  States  shall be a
  one-dollar  piece   which   at   the   standard  weight  of
  twenty-five and eight-tenths grains *shall be the  unit  of
  value.*

It  then  deprived  silver  of  its  right  to  unrestricted free
coinage, and destroyed it as legal tender money in the payment of
debts, except to  the  amount  of  five dollars.  President Grant
said later that he would not have signed the bill if he had known
that it demonetized silver.

An army of a half million men invading our shores could not  have
made  us  surrender the money of the people and substitute in its
place the money of the  rich.   A  few  words in fifteen pages of
statutes put through Congress in the rush of bills did it.

Silver was demonetized secretly, and since then a powerful  money
trust  has  used  deception  and misrepresentations that have led
tens of thousands of honest minds astray.

 +  +  +  +  +  +  +  +  +  +  +  +  +  +  +  +  +  +  +  +  +  +

For related stories, visit:
http://www.shout.net/~bigred/cn.html
http://feustel.mixi.net

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