George was More Popular?
Where are we today, as a nation? I’m not sure, but very few of us like the leviathan that we’ve allowed to creep into every facet of our lives. Significant: According to Harvard and Stanford law professor Lawrence Lessig, only 11% of the American people have confidence in Congress. King George was more popular with the colonists: historians have estimated that between 15 and 20% of the white population of the colonies were Loyalists. Link w/ video. * * * * * * * Financial Dinosaurs. An article at Forbes looks at the gold standard from a different angle–that of 18th century England–and finds it compelling. It’s a neat little piece, and it contains this nugget of John Locke history that I didn’t know about: “In 1689, with the Glorious Revolution, William of Orange became King of England. William was Dutch, but he had married Mary Stuart of the British royal family. Perhaps William, upon his arrival in London from Amsterdam, found the English financial system a little backward. He was aided by philosopher John Locke, who had fled to Amsterdam in 1683. Locke returned to England with William in 1688. Locke argued that the English financial system could be set right if the relationships between lenders and borrowers was protected, by fixing the currency to gold. The currency would be stable in value–as stable as humanly possible. After generations of a floating currency in Britain, this was a revolutionary idea. Was such a thing even possible? Locke’s argument swayed England’s Parliament, and in 1698 England effectively began its long allegiance to the gold standard.” So, Locke was a … Read the rest