Is Politics About the Money?
In the Beginning, It Was About the Money.
From its earliest days, this country has been about money.
Jamestown was founded by moneyed interest and
Plymouth had financial
backers who expected a return on their investment.
The world of Plymouth
was just settling down when English religious tolerance increased,
immigration stopped and some inhabitants returned to England.
The
population declined, asset values plunged, and
Plymouth had
one-hundred years of economic stagnation.
The talented moved north
to Boston. It was a brain/talent drain.
Gresham's Law that bad paper
money chases good gold coins also applies to people.
A bad economy chased the most
talented people toward Boston's economic opportunity.
See
All Immigrates Welcomed By 1654 New Amsterdam and
THREE Roots of Revolution
By the middle of the 18th century
colonial trade with other nations was flourishing
and very wealthy
smugglers like John Hancock did not want to pay taxes for British
military protection.
He financed the Minutemen and eventually the
colonies won their independence.
The Revolution was about the money.
See
Instigators Finely Hit a Nerve With The 1773 Boston Tea Party
Secretary of the Treasury
Alexander
Hamilton embodied Jefferson deepest republican fear
that some
would sacrifice liberty for the expedience of absolute authority.
Alexander plans for a national financial system which would assume all
national and
state debt caused much turmoil as many southern states had
paid their debt.
In addition many of the national and state bonds had been sold
by veterans at a discount
to wealthy easterners speculators who would earn a
substantial profit.
Hamilton wanted to put the federal government
at the center of nation's financial system
to further secure its world
position.
He got Madison to end his disapproval of
Hamilton's debt plan by agreeing with
Madison's desire to move
the nation's capital to a site along the Potomac River.
George
Washington an avid land speculator owned much of this land.
Some in
Virginia charged Congress with an
unconstitutional act.
Source
THE FIRST SECRETARY OF STATE 1789-1792
Before leaving office Washington had to put down a
rural revolt of whiskey producers
who didn’t want to pay taxes. In
addition there were threats of impeachment because
many felt Washington had broken the constitution when he
signed the Jay
Treaty.
Southerners disliked England whose goods thy felt were too expensive.
They also supported France.
The Northeast wanted England's industrial
good to expand manufacturing.
President Washington served well and feared a political party system
would not only develop,
it would be dangerous. But two plus parties were
inevitable.
Federalist like Adams and Hamilton wanted tariffs to protect
their business interest.
Wealthy business
owner Oligarchs were friendly to England and wanted a strong central
government.
Jefferson, Madison and other wealthy southern Oligarchs,
wanted low
tariffs so they could buy cheap European merchandise.
This required low
tariffs and a Republic run by the people and
not a country tied to
Northern manufacturing.
It was about the money.
See Part VII Leader of the Opposition
In the Middle It Was About the Money.
President John Quincy Adams easily lost his 1828 reelection bid to Andrew Jackson. Andrew was dead set against extending the Second Bank of the United States charter and he hated its condescending President, Nicholas Biddle. Jackson felt the bank had excessive power over farmers, mechanics, and others unconnected to the eastern ' " moneyed aristocracy." ' Land speculation losses in Tennessee made Jackson feel that "debt, bankers, and paper money --' "rag money" '-- were all the devil's work." He felt the bank had used its ' "golden favors " ' to help Adams be win the 1824 election. Largely owned by the European autocracy, Andrew felt the bank was corrupt. See Presidential Courage Andrew Jackson
"... in the fall of 1902, he [Teddy Roosevelt] tried to stop the coal strike that threatened, more than any event since the Civil War, to divide the country." For months, over 100,000 Pennsylvanian miners had been striking. There was sabotage, riots and murder. The leader of the United Mines Workers suggested a Presidential commission but railroad man George Bear refused to bargain with ' " instigators of violence and crime." '
Later the Tennessee Valley Authority did a lot of good but the area is still poor because many talented people left for economic opportunity. Areas losing talented people need specially designed programs and not those that are needed for their brain drain destination. One size does not fit all. See Educating the Class of 2030
Lately It's About the Money.
California opened its energy markets in 1996 and 24 states follow by end of 2000.
When Bush 2 was running for governor Enron executive Kenneth Lay turned down the job as Huston campaign chairperson so Bush named Enron's President and CO Richard Kinder to the position.
"Enron was Mr. Bush's biggest political patron as he headed into the 2000 presidential election. In all it has made $623,000 in contributions to his campaigns since 1993, when he was raising money for his first Texas gubernatorial race, according to the Center for Public Integrity, another watchdog group." Source
Enron had sales of
6.1 billion in 1992, $31 billion in 1998 and 139 billion in 2001.
By 2000 California faced serious blackouts as prices spiked to 50
times normal. See
California electricity crisis
As Bush's 2's presidency approached Enron stock had hit a high of 80.
Enron executive began quietly unloading stock. By October the stock had fallen
to 20 as administration efforts like refusing to cap energy prices in
California and putting pressure on India to pay money owed to Enron
failed. Enron declared bankruptcy in late 2001.
In 2001 VP Chaney's energy task force predicted a 12% decline in U.S. oil production by 2020 compelling the U.S. to import two-thirds of its needs. Politics is also about fear.
