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Benjamin Franklin Cryptocurrency

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Benjamin Franklin Cryptocurrency Canvas Art.

There is an argument to be made over whether Ben Franklin deserves credit for defending the inalienable right to create our own currency. Ironically, Franklin is on the $100 bill.

In 1729, a 23-year-old Franklin wrote A Modest Enquiry into the Nature and Necessity of a Paper Currency In it, he argued for a new currency that brought economic stability to working classes and angered established elites. After the revolution, Franklin was instrumental in establishing a currency that helped pull people out of poverty, writing "Where there is a free government, and the people make their own laws by their representatives, I see no injustice in their obliging one another to take their own paper money." The Colonial Scrip, and Britain outlawing the colonial currency, eventually became major points on the road to Revolution.

While Franklin was supportive of a national bank issuing notes backed by gold and silver reserves, he wasn't as outspoken against the idea of a national bank as Jefferson was:

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power of money should be taken away from the banks and restored to the people to whom it properly belongs." - Thomas Jefferson

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