It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Lincoln tried to break the financial bonds with which his Northern States were bound. To him Article 1, section 8, paragraph 5 of the Constitution was sufficient authority. He disregarded the bankers' overtures. He caused $450,000,000 of Honest money to be printed. He placed the Cedit of the Nation as security behind this money. The International Bankers retaliated by causing a bill to be passed through Congress ruling that Lincoln's Greenbacks would not be accepted as payment of interest on government bonds nor import duties. The bankers caused Lincoln's money to become almost valueless by refusing to accept the Greenbacks except at a heavy discount. Having beaten down the value of Greenback dollars to 30 cents they bought them all in. They then turned around and bought government bonds with them demanding dollar for dollar value. In this way they overcame a serious threat and made 70 cents on the dollar.
An article, inspired by the International Bankers, appeared in the London Times. It concerned Abraham Lincoln's issue of Greenbacks. It said: "If this mischevious financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe."
In an address he said: "I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of my Country; corporations have been enthroned, an era of corruption in high places will follow, and the money power of the country will endeavour to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands and the republic is destroyed."
Originally posted by swintersVT
The quote is falsely attributed to Lincoln.
Originally posted by soficrow
Originally posted by swintersVT
The quote is falsely attributed to Lincoln.
Hmmm. I wonder. Read the text, found this:
"Imprisoned in the democratic-capitalist ideology of nineteenth-century America, he believed the free laborer toiled up from poverty to become a capitalist in his own right."
...My understanding is that the US Constitution and Bill of Rights sought to give power to the people - and shake off the monarchists and bankers...
I suspect there is much more to this one. As it stands, I prefer to think that Lincoln did say it - and don't see much solid substantiation that he didn't. ...More hearsay posing as "debunking." Pfah.
.