The US War Of Independence Was About Who Issued Money, Not Tax On Tea |the tap

The American colonists considered themselves loyal Englishmen to a man, but when they began to enjoy unequalled prosperity by printing and circulating their own Colonial scrip, the stockholders of the Bank of England went to George III and informed him that their monopoly of interest-bearing notes in the colonies was at stake. He banned the scrip, with the result that there was an immediate depression in the commercial life of the Americas.

This was the cause of the Rebellion; as Benjamin Franklin pointed out, the little tax on tea, amounting to about a dollar a year per American family, could have been borne, but the colonists could not survive the banning of their own money… via the tap.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s