2 July: On this Day in History

[lektrode]

July 2, 1776: Congress votes for independence

On this day in 1776, the Second Continental Congress, assembled in Philadelphia, formally adopts Richard Henry Lee's resolution for independence from Great Britain. The vote is unanimous, with only New York abstaining.

(back then with the Tories in control - sorta kinda like lower manhattan today....)


The resolution had originally been presented to Congress on June 7, but it soon became clear that New York, New Jersey, Pennsylvania, Delaware, Maryland and South Carolina were as yet unwilling to declare independence, though they would likely be ready to vote in favor of a break with England in due course. Thus, Congress agreed to delay the vote on Lees Resolution until July 1. In the intervening period, Congress appointed a committee to draft a formal declaration of independence. Its members were John Adams of Massachusetts, Benjamin Franklin of Pennsylvania, Roger Sherman of Connecticut, Robert R. Livingston of New York and Thomas Jefferson of Virginia. Thomas Jefferson, well-known to be the best writer of the group, was selected to be the primary author of the document, which was presented to Congress for review on June 28, 1776.


On July 1, 1776, debate on the Lee Resolution resumed as planned, with a majority of the delegates favoring the resolution. Congress thought it of the utmost importance that independence be unanimously proclaimed. To ensure this, they delayed the final vote until July 2, when 12 colonial delegations voted in favor of it, with the New York delegates abstaining, unsure of how their constituents would wish them to vote. John Adams wrote that July 2 would be celebrated as the most memorable epoch in the history of America. Instead, the day has been largely forgotten in favor of July 4, when Jeffersons edited Declaration of Independence was adopted.

speaking as a 1976 grad (hs, in MA) eye like to look back on this time period, esp this time of year....
and one of my favorite quotes of those days was this one:

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

Thomas Jefferson

[Fiat Currency]

Re: 2 July: On this Day in History

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson

http://www.snopes.com/quotes/jefferson/banks.asp

[lektrode]

Re: 2 July: On this Day in History

http://www.snopes.com/quotes/jefferson/banks.asp

yeah yeah yeah... there's always one party-pooper in every bunch ;)

but even IF he didnt actually say those words precisely, there's enough evidence to suggest that he was at least aware of and concerned about the threat of the same - esp the concept of the 'federal reserve'

isnt there?

The second part of the quotation ("I believe that banking institutions are more dangerous to our liberties than standing armies...") may well be a paraphrase of a statement Jefferson made in a letter to John Taylor in 1816. He wrote, "And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."[3]


The third part of this quotation ("The issuing power should be taken from the banks and restored to the people, to whom it properly belongs") may be a misquotation of Jefferson's comment to John Wayles Eppes, "Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs."[4]

and so i still like the passage and even IF he didnt actually say it, i think it was quite a precsient and valuable insight - dont you?

and wasnt this proven by andrew jackson's stance/actions sometime later?

[Fiat Currency]

Re: 2 July: On this Day in History

yeah yeah yeah... there's always one party-pooper in every bunch ;)

Sorry - I wasn't trying to be a pooper - just factually correct.

and so i still like the passage and even IF he didnt actually say it, i think it was quite a precsient and valuable insight - dont you?

Most of the founding fathers were prescient. That's what makes the current predicament that the US finds itself in with regards to the Fed/Wall St./Debt/Kleptocracy so confusing to me ... it not like one couldn't see it coming, or that nobody was warned.

and wasnt this proven by andrew jackson's stance/actions sometime later?

Funny you bring up Jackson. Did you know he replaced Grover Cleveland on the $20 bill in 1928? The reason for the change was never given. To this day ... I still maintain that the Bankers put him on there as an act of contempt for all the grief he gave them. Jackson on the $20 is the Fed flying the victory flag.

Non-the-less ... Happy Independence Day to all Americans.

[Master Shake]

Re: 2 July: On this Day in History

The moment captured in a brilliant scene from John Adams.

[c1ue]

Re: 2 July: On this Day in History

Funny you bring up Jackson. Did you know he replaced Grover Cleveland on the $20 bill in 1928? The reason for the change was never given. To this day ... I still maintain that the Bankers put him on there as an act of contempt for all the grief he gave them. Jackson on the $20 is the Fed flying the victory flag.

That doesn't make any sense to me whatsoever. How does commemorating a bank-buster go down as a victory for the banksters?

[lektrode]

Re: 2 July: On this Day in History

That doesn't make any sense to me whatsoever. How does commemorating a bank-buster go down as a victory for the banksters?

hang on there a sec mr c1ue... i didnt post that, but i did understand what Fiat meant: they were making fun of jackson when they put his mug on the $20 'federal reserve note'

[lektrode]

Re: 2 July: On this Day in History

Sorry - I wasn't trying to be a pooper - just factually correct.

no sweat FC, one of the reasons i post is to provoke better understanding of whats going on

facts do matter and i'm not afraid to stick my neck out to get em... why i appreciate it when i get corrected.

Most of the founding fathers were prescient. That's what makes the current predicament that the US finds itself in with regards to the Fed/Wall St./Debt/Kleptocracy so confusing to me ... it not like one couldn't see it coming, or that nobody was warned.

or that it was all so "unexpected"....

Funny you bring up Jackson. Did you know he replaced Grover Cleveland on the $20 bill in 1928? The reason for the change was never given. To this day ... I still maintain that the Bankers put him on there as an act of contempt for all the grief he gave them. Jackson on the $20 is the Fed flying the victory flag.

mr c1ue?

Non-the-less ... Happy Independence Day to all Americans.

+1

[Fiat Currency]

Re: 2 July: On this Day in History

... i didnt post that, but i did understand what Fiat meant: they were making fun of jackson when they put his mug on the $20 'federal reserve note'

I would have said "giving him the finger" ... but you clearly got what I meant

Hopefully you've got a cold one and some fireworks planned

[lektrode]

Re: 2 July: On this Day in History

I would have said "giving him the finger" ... but you clearly got what I meant

considering what ONE of these is now worth ($US1675 4july 2012), would say
they gave The Rest of Us the finger: (too)

Hopefully you've got a cold one and some fireworks planned

you betcha... today will be at a least a trifecta - altho fireworks is what i'd really like to do...
i cant post any more or the s/o will start yellin at me....

[c1ue]

Re: 2 July: On this Day in History

That doesn't make any sense to me whatsoever. How does commemorating a bank-buster go down as a victory for the banksters?

hang on there a sec mr c1ue... i didnt post that, but i did understand what Fiat meant: they were making fun of jackson when they put his mug on the $20 'federal reserve note'

Sorry, saw the quote and just misconnected!

But I still question the provenance of the statement that Jackson's portrait on the $20 bill is somehow a Federal Reserve plot.

If anything, I'd think banksters would want a bank-buster to be forgotten. After all, who's portrait is on the 2 dollar bill?

[lektrode]

Re: 2 July: On this Day in History

Sorry, saw the quote and just misconnected!

But I still question the provenance of the statement that Jackson's portrait on the $20 bill is somehow a Federal Reserve plot.

If anything, I'd think banksters would want a bank-buster to be forgotten. After all, who's portrait is on the 2 dollar bill?

no sweat... and good point!
but still tho, methinks Fiat is onto something there, since jackson was against the 'national' banks apparently, not the small community/savings banks?

and the past dozen years or so (since repeal of glass-steagall) have proved his concerns well founded, eh?

[c1ue]

Re: 2 July: On this Day in History

http://www.commondreams.org/further/2012/07/04-4

For Independence Day, a look at what Thomas Jefferson wanted in the Bill of Rights, but didn't get, and a listen to Seeger, Springsteen et al singing Woody Guthrie's timeless anthem - including a couple of timely verses usually left out. Have a peaceful 4th.

What we have:

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."

What Thomas jefferson wrote to James Madison on rights:

"I sincerely rejoice at the acceptance of our new constitution by nine states. It is a good canvas, on which some strokes only want retouching. What these are, I think are sufficiently manifested by the general voice from North to South, which calls for a bill of rights. It seems pretty generally understood that this should go to Juries, Habeas corpus, Standing armies, Printing, Religion and Monopolies. I conceive there may be difficulty in finding general modification of these suited to the habits of all the states. But if such cannot be found then it is better to establish trials by jury, the right of Habeas corpus, freedom of the press and freedom of religion in all cases, and to abolish standing armies in time of peace, and Monopolies, in all cases, than not to do it in any. The few cases wherein these things may do evil, cannot be weighed against the multitude wherein the want of them will do evil."

[lektrode]

Re: 2 July: On this Day in History

http://www.commondreams.org/further/2012/07/04-4

excellent find mr c1ue...

esp this part,

further down on:
What Thomas jefferson wrote to James Madison on rights:

The saying there shall be no monopolies lessens the incitements to ingenuity, which is spurred on by the hope of a monopoly for a limited time, as of 14. years; but the benefit even of limited monopolies is too doubtful to be opposed to that of their general suppression.
...
....
..
My idea then is, that tho' proper exceptions to these general rules are desirable and probably practicable, yet if the exceptions cannot be agreed on, the establishment of the rules in all cases will do ill in very few. I hope therefore a bill of rights will be formed to guard the people against the federal government, as they are already guarded against their state governments in most instances.

never mind when we have this same fed gov advocating the creation of monopoly by TBTF Inc.

esp when the verses of woody's song "usually left out" - penned so long ago - bring it home why NOT :

There was a big high wall there that tried to stop me;
Sign was painted, it said private property;
But on the back side it didn't say nothing;
This land was made for you and me.

Nobody living can ever stop me,
As I go walking that freedom highway;
Nobody living can ever make me turn back
This land was made for you and me.

In the squares of the city, In the shadow of a steeple;
By the relief office, I'd seen my people.
As they stood there hungry, I stood there asking,
Is this land made for you and me?

i'm beginning to wonder that myself....




but here's the REAL QUESTION (s) (and apparently the segment that got the good judge fired)




and finally - from his final show:



this one should be shown in EVERY highschool civics/senior and college poly-sci classroom

indeed the ULTIMATE question IS, as the good judge asks:

"Does the government work for us, or do we work for the government" ?

is getting more difficult by the day to answer...

[Fiat Currency]

Re: 2 July: On this Day in History

Lol ...

Funny you bring up Jackson. Did you know he replaced Grover Cleveland on the $20 bill in 1928? The reason for the change was never given. To this day ... I still maintain that the bankers put him on there as an act of contempt for all the grief he gave them. Jackson on the $20 is the Fed flying the victory flag.

... and now this ...

authored by ben bernanke via the brookings institute,

I must admit i was appalled to hear of Treasury Secretary jack lew's decision last week to demote Alexander Hamilton from his featured position on the ten dollar bill. My reaction has been widely shared, see for example here, here, here, here, and here.

Hamilton, the first secretary of the treasury, would qualify as among the greatest of our founders for his contributions to achieving american independence and creating the constitution alone. In addition to those accomplishments, however, hamilton was without doubt the best and most foresighted economic policymaker in U.S. History. As detailed in ron chernow's excellent biography, as treasury secretary hamilton put in place the institutional basis for the modern u.s. Economy. Critically, he helped put u.s. Government finances on a sound footing, consolidating the debts of the states and setting up a strong federal fiscal system. the importance of hamilton's achievement can be judged by the problems that the combination of uncoordinated national fiscal policies and a single currency has caused the eurozone in recent years. Reflecting on those parallels, as fed chairman i recommended Chernow's biography to Mario Draghi, the president of the european central bank. Mario told me that he read it with great interest.

Hamilton also played a leading role in creating U.S. Monetary and financial institutions. he founded the nation's first major bank, the bank of New York; and, as Chernow points out, Hamilton's 1791 report on the mint set the basis for U.S. Currency arrangements, which makes his demotion from the ten dollar bill all the more ironic. Importantly, over the objections of Thomas Jefferson and James Madison, Hamilton also oversaw the chartering in 1791 of the first bank of the United States, which was to serve as a central bank and would be a precursor of the federal reserve system.

in the nineteenth century, a principal public role of central banks was to control banking panics, as the bank of england would do quite successfully. Unfortunately, in large part because of populist opposition, neither the first bank of the united states nor its successor, the second bank of the united states, would have their charters renewed. President Andrew Jackson led the opposition to the second bank, vetoing a bill passed by congress to continue its operations. The expiration of the second bank's charter in 1836 likely worsened the very severe panic of 1837, which was followed by a prolonged economic depression. The united states would go on to suffer numerous banking panics that would hamper its economic and financial development over the rest of the century.

Hamilton's demotion is intended to make room to honor a deserving woman on the face of our currency. That's a fine idea, but it shouldn't come at Hamilton's expense. as many have pointed out, a better solution is available: Replace Andrew Jackson, a man of many unattractive qualities and a poor president, on the twenty dollar bill. Given his views on central banking, Jackson would probably be fine with having his image dropped from a federal reserve note. Another, less attractive, possibility is to circulate two versions of the ten dollar bill, one of which continues to feature Hamilton.

I was in government long enough to know that decisions like this have considerable bureaucratic inertia and are accordingly hard to reverse. But the Treasury Department should do everything within its power to defend the honor of Jack Lew's most illustrious predecessor.

so.. Keep Hamilton (pro-fed) but dump Jackson (anti-fed)...

Did Bernanke just become the internet's biggest troll? of course, Bernanke has already reserved the $100 trillion bill for his own omnipotent likeliness.