APRIL 3, 1729 – PUBLICATION OF “A MODEST ENQUIRY INTO THE NATURE AND NECCESITY OF A PAPER CURRENCY” BY BENJAMIN FRANKLIN

1729 – PUBLICATION OF “A MODEST ENQUIRY INTO THE NATURE AND NECCESITY OF A PAPER CURRENCY” BY BENJAMIN FRANKLIN
The “father of paper money” and a printer, Franklin’s publication circulated throughout the colonies. He was a strong advocate of colonies printing their own money. The publication helped him earn contracts to print paper money for Pennsylvania, New Jersey and Delaware.
"A legitimate government can both spend and lend money, while banks can only lend significant amounts of their promissory bank notes.  Thus when bankers place money in circulation there is always a debt principal to be returned and usury to be paid.