American Revolution

American Revolution, or War of Independence, although we’re not sure what to call it, we do know one thing, in 1776, there was a lot of frustration among the Colonies’ business communities. 

Since 1694, the English bankers had built incredible fortunes. They now thought of themselves as a superior breed of Englishmen, and it seriously compromised their dealings with the Americans. The Colonies were English, they had to pay taxes to the Homeland and use the Pound, that’s all there was to it. But there were three serious problems in the Colonies: credit, specie and taxation.

The Colonies constituted a vibrant economy, and yet, they had no bank, no regular flow of credit and hardly any specie. It got so bad that the local businessmen had to use Spanish paper dollars backed by tobacco and such. Worse still, these dollars had different shilling value from Colony to Colony, and that created a lot of unfair competition. Add to that unjust taxes levied by the mother country and you end up with an explosive situation, which is exactly what happened.

Since the English bankers and Parliamentarians didn’t respond to the Colonials’ concerns, it opened the door to Mayer Amschel Bauer, the founder of the House of Rothschild, who knew exactly how to solve those problems.

Advertisements

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 )

Twitter picture

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

Facebook photo

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

Google+ photo

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

Connecting to %s

%d bloggers like this: