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: The steel industry was launched, a continental railroad system was created, a new era of farm machinery and cheap tools was promoted, free higher education was established, government support was provided to all branches of science, the Bureau of Mines was organized, and labor productivity was increased by 50 to 75 percent. The Greenback was not the only currency used to fund these achievements; but they could not have been accomplished without it, and they could not have been accomplished on money borrowed at the usurious rates the bankers were attempting to extort from the North. Lincoln succeeded in restoring the government�s power to issue the national currency, but his revolutionary monetary policy was opposed by powerful forces. The threat to established interests was captured in an editorial of unknown authorship, said to have been published in The London Times in 1865: � If that mischievous financial policy which had its origin in the North American Republic during the late war in that country, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off its debts and be without debt. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe.