Title: Web of Debt - REVIVE LINCOLN�S MONETARY POLICY: AN OPEN LETTER TO PRESIDENT OBAMA
Headings: REVIVE LINCOLN�S MONETARY POLICY:
AN OPEN LETTER TO PRESIDENT OBAMA

REVIVE LINCOLN�S MONETARY POLICY:
AN OPEN LETTER TO PRESIDENT OBAMA
Lincoln�s Monetary Breakthrough
Building on a Successful Tradition
The Perennial Inflation Question
A Wake-up Call

Content: �
Lincoln was assassinated in 1865. According to historian W. Cleon Skousen: �Right after the Civil War there was considerable talk about reviving Lincoln�s brief experiment with the Constitutional monetary system. Had not the European money-trust intervened, it would have no doubt become an established institution. �
The institution that became established instead was the Federal Reserve, a privately-owned central bank given the power in 1913 to print Federal Reserve Notes (or dollar bills) and lend them to the government. The government was submerged in a debt that has grown exponentially since, until it is now an unrepayable $11 trillion. For nearly a century, Lincoln�s statue at the Lincoln Memorial has gazed out pensively across the reflecting pool toward the Federal Reserve building, as if pondering what the bankers had wrought since his death and how to remedy it. Building on a Successful Tradition
Lincoln did not invent government-issued paper money. Rather, he restored a brilliant innovation of the American colonists. According to Benjamin Franklin, it was the colonists� home-grown paper �scrip� that was responsible for the remarkable abundance in the colonies at a time when England was suffering from the ravages of the Industrial Revolution.