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: When new money is used to produce new goods and services, price inflation does not result because supply and demand rise together. Prices did increase during the American Civil War, but this was attributed to the scarcity of goods common in wartime rather than to the Greenback itself. War produces weapons rather than consumer goods. Today, with trillions of dollars being committed for bailouts and stimulus plans, another objection to Lincoln�s solution is likely to be, �The U.S. government is already printing its own money � and lots of it. � This, however, is a misconception. What the government prints are bonds � its I.O.U.s or debt. If the government did print dollars, instead of