Columns

`Ways and Means’

I’m reading a book called “Ways and Means” which describes how the North financed the Civil War versus the South. The South printed paper currency that had no support in terms of gold or taxation, ultimately leading to a 900% inflation rate. Meanwhile, the North introduced the first income tax and the first national currency called the greenback designated as legal tender, meaning it had to be accepted by the public for payment of debt, supplies and wages. The North had some inflation but it was within the norms of a war-time economy. This allowed the North to continue to replenish its men and material while the South could do neither. This great asset called Dollar Bill has generally been victorious in any military encounter over the last century and a half. It has had only two failures over this long period of time in Vietnam and Afghanistan. Both of these opponents ignored loss of life, living a subhuman existence and length of time.

Free men will always rebuild

Everybody I talk to thinks we are in the worst situation we have ever been in this country. However, as Darrell Royal used to say, “it’s hard to argue how poor you are when you’ve got a ham strapped on your back.” We have what others around the world dream about, being a U.S. citizen and yet only half of us vote in a presidential election and less than 10% in a bond election where each citizen will be obligated to pay back millions in debt. ompared to the rest of the world, we are floating on a cloud and complaining about why it can’t be perfect.

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