Reference 3
BANK OF AMERICA
International bankers saw that interest-free scrip would keep
America free of their influence, so by 1781 banker-backed
Alexander Hamilton succeeded in starting the Bank of
America. After a few years of "bank money", the prosperity of
"Colonial Scrip" was gone. Benjamin Franklin said,
"Conditions were so reversed that the era of prosperity had
ended and a depression set in to such an extent that the streets
of the Colonies were filled with the unemployed!" Bank
money was like our FED money. It had debt and interest
attached.
By 1790 Hamilton and his bankers had created a
privately owned central bank and converted the public debt
(interest-free) into interest bearing bonds, payable to the
bankers. When Hamilton's bank charter expired in 1811, the
international bankers started the war of 1812. By 1816,
another privately-owned U.S. bank was started with $35
million in assets - only $7 million of that was owned by the
government. This bank lasted for 20 years. U.S. history shows
that currency with debt and interest attached created a
depression.
{Alexander Hamilton was killed in a duel, in 1804 by Aaron Burr, a British Sympathizer.}
Return to History List.-Please use your Browsers "BACK" Button.
(Reference 4).