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From: bprice@bmcg.UUCP
Newsgroups: net.flame
Subject: Re: FDR
Message-ID: <1061@bmcg.UUCP>
Date: Fri, 22-Jun-84 16:36:20 EDT
Article-I.D.: bmcg.1061
Posted: Fri Jun 22 16:36:20 1984
Date-Received: Sat, 23-Jun-84 07:17:28 EDT
References: <36200140@uiucdcs.UUCP>, <184@ccieng2.UUCP>
Organization: Burroughs Corporation, San Diego
Lines: 23

There was one minor error in the list of FDR's sins.  I won't bother with the
omissions, but those of us who insist on the bizarre practice of learning from
history have learned that the list given is by no means complete.

The error lies in attributing the Federal Reserve System to FDR.  Actually, the
Fed was created several decades earlier:  I don't have my references at hand,
so I can't give you dates, but it seems to have been 1910 +- 10 years.  The
intent of the Federal Reserve Act was to allow Congress to evade their
constitutional responsibility to "Coin money and regulate the value thereof,
and of foreign money."  A convincing case is made (reference to be supplied
later) that the manipulations of the currency by the Fed were the direct and
only cause of "the Great Depression".  At the very least, the existance of the
Fed did give the congressional Demos an 'out', after their depression started,
by muddying the waters enough that their responsibility was not held against
them.  In fact, despite the clear constitutional responsibility directed at the
Congress, and only at the Congress, that depression is usually attributed to
the Executive:  only a Democrat could understand how that could be.

By the way, FDR's evil cannot be properly called treason, because of the
obscure legal definition, which you can look up in the US Constitution.
-- 
--Bill Price    uucp:   {decvax!ucbvax  philabs}!sdcsvax!bmcg!bprice
                arpa:?  sdcsvax!bmcg!bprice@nosc