| Subject: | Re: [socialcredit] More sources on Guernsey money | | Date: | Saturday, April 30, 2005 21:32:00 (+0100) | | From: | Kenneth Palmerton <kenpalmerton @................uk>
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In-Reply-To: <015001c54d19$dd2f6880$1902a8c0@keithb9abaaf21>
Thank you for the addition to my knowledge of the literature of Social
Credit Keith. Most useful.
I think you are right to point to the year 1935 as somewhat momentous. And
I am not just referring to the Alberta upsets :-)
I would loved to have been a fly on the wall of the bank of england for
instance, when Montague Norman went scuttling off in disguise to put out
the brush fires in Canada.
Whilst sending his second in command to the Antipodes to do likewise. :-)
However. You have set me a problem. I recognise that some would
desperately like to have the idea of the Channel Island monetary systems
rubbished. They are under intense attack at this time from European
central bankers as well. And being branded as "Tax Havens", which is a
totally false description.
What goes on there long predates such an idea.
I am not sure from what you have written so far if that attack includes
you too.
Certainly 1935 seems a significant date. But if it is being said that some
sort of new fabrication was made then, that idea would be a great mistake.
I have discussed this issue at great length in the past with members of
the Societe Jersaise, the learned society that concerns itself with all
aspects of Jersey history, and even a few members of the Guernsey
equivalent.
And though I have had the usual response, that you get from ALL non
economists, "I know very little of economics" (Cowards :-) ) At no time
was any of the questions I put to them about my attempts to interpret
States documents questioned as to their veracity.
That was some time ago, and I do not think I can find my own records of
this investigation. Which took me back at that time to ad.1720. The
construction of the inner harbour of St.Helier, a harbour that is now
called "English Harbour". This project was described in the record as
having been financed "After the fashion of our forefathers". That is the
States issued to the contractors notes that circulated as money. And
retired from circulation through taxation.
There are lots of individual stories that I for one found entertaining.
If you want non Island commentaries, you will find the work of Thomas
Attwood ( 1783 - 1856 ) interesting. Don't be confused by his Brother,
also called Thomas :-))
He was a leading light in the Chartist movement. And as a banker himself,
he advocated that the State should be the sole issuer of the communities
money supply, a LITTLE bit earlier than 1935 :-)
Although I was never able to pin it down satisfactorily, I think it is the
writings of these Chartists that brought the idea of Guernsey as a
desirable model of monetary practice to the notice of later Trades
Unionists, and their creation the Socialist political parties in England.
For the next commentator to my knowledge was Sidney Webb.
Baron Passfield. ( 1859 - 1947 ) Who you probably know of as a prominent
Fabian, and founder of the London School of Economics.
I have a book that he offered the preface to, published in the first
decade of the Twentieth Century, that gave quite a good and detailed
description of Guernseys system.
It is here in my collection, but due to very cramped space here It may
take me some time to actually find it :-))
And if anyone STILL doubts the practical effect of not paying usury for
the essential lifes blood of any community, its money supply, may I ask
you to check with what I think you MIGHT find easy access to, that is
Whitakers Almanack. This yearly publication always used to list national
and community debt figures. Both Jersey and Guernsey were listed,
certainly between 1950 and 1980 when I last took the trouble to look for
myself.
You will find the debt figure as zero, zilch, nix. In fact to confuse
things, well me at least, there was a year when a negative figure was
listed. That I cannot explain :-)))
The detractors and nay sayers may wish to offer some explanation for this
phenomenon. Or maybe they will not :-(
Ken.
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