: Cont.--Part VII. Following the fall of the Roman Empire's
: Dictatorship,-of which we are in the exact same position of
: today,-there was organized many separate states; Spain,
: Italy, Greece, France, Germany & England, all carved
: out of the territory of the original Roman Empire.

: It was in the fifth century, the Christian Religion was
: accepted, & for many centuries the Catholic Church was
: the recognized head of the Christian Religion, which
: strictly opposed the taking of Usery. Many of the pogroms
: were against the practice of Usery, to the point of Userers

: & their heirs were compelled to restore their unkust
: gains under penalty of death if not.

: Local usury was pretty much under control, but with regards to
: foreigners practicing of it was denied by not letting them
: hire houses, or indeed to dwell at all upon the land, but
: be expelled within 3 months if already.

: This is a reverse of evidently getting back at (Deut. 15-6,)
: & the Law of the Jubilee's,-when upon the 49th. year a
: Jubilee was to be declared when all property gained was to
: be returned to rightful owner,-as it all now began to be
: practiced by the host now, against them.

: http://www.wsws.org/articles/2000/aug2000/econ-a28.shtml

: But what has this pasting to do with it all?

: In the last few years during the so called "Great
: Depression," many kinds of money were tried, such as
: Canada's "Velocity dollar,"-but were caused to be
: discontinued, as especially in Germany & Austria, (of
: which Silvio Gesell was one of the great reformers,)-not
: because of these kinds of money not working, but their
: theories were working, & the Reichsbank & other
: Central Banks put a stop to such trials of local money
: called by names such as "Free Money,"-"Free
: Land," & in 1930 in Austria, (I believe it was,)
: "Schwanenkirchen,"-Gisell's theory of issuing
: depreciating script was tried successfully.

: "The Gothic," a thousand years earlier (1150-1450
: A.D.,) of which was preceeded by the fall of the Roman
: Empire because of a prolonged & increasing scarcity of
: metal money from an exhaustion of the mines,-there followed
: in Europe a wretched 600 years of barbarism, of which the
: "Gothic" money became the kind of money which
: lifted this state of being.

: At the beginning of the 12th. century a sudden &
: miraculous renaissance took place. An amazing period of
: prosperity & culture was ushered in. Historians are
: agreed as to the degree of & intellectual virility that
: was common throughout Europe at that time, which occured
: because of the "Gothic.".--Later.----

: tau.

Cont. Part VIII.

Cont. Another of Gesell's experiments occured in the year 1932 in a town called Worgel in the Austriam Tyrol. Conditions were at the time deplorable,-(which indicates how bad things must get before individual initiative begins to assert itself;)-the town's Mayor was a supporter of the Gesell School of Economics,-who believed the towns economic problems could be solved if the townspeople would agree to a financial experiment on Gesellian lines.

Accordingly on HUly 5th. 1932, he submitted am Emergency Recovery Plan to the Relief Committee proposing "to substitute for the national money within the community, a medium of exchange which because of its nature was bound to remain a medium of exchange & alleviate want, give work & bread" the plan was accepted.

The relief money paid each month by the Austrian Government was then deposited on Savings Acccount in the local bank. In its place, yellow, blue & red sork certificates were issued in denominations of one, five & ten schillings.

The townspeople were asked to buy these Work Certificates from the Relief Committee' & to make all payments within the community with them, excepting the Post Office & Railways.

These work Certificates became valid at full face value. To enable purchases outside the Town, , it was possible to to exchange them for legal tender at a 2 percent discount.

The tax of 1 percent per month, discouraged needless conversion into legal tender, was used to provide relief for invalids & the aged.

Work Certificates met with immediate & extraordinary success. the first wage payment made by the council in work Certificates was back in the Treasury within a week. with this money, the Council paid its own local debts. Soon the Work Certificates were back again.

Beginning with an issue of 1,80 Schillings, the work Certificates circulated from the Town Treasury to the workers, from the workers to the merchants, from tenents to landlord, from savers to the savings bank & back into circulation again.

Using the payments of back taxes, relief money from the Government, & the proceeds of demurriage tax, the Mayor of Worgel embasrked on a Public work Program.

Thirty thousand schillings were on road improvements between July 11th. & Oct. 29th. 1932. Forty thousand schillings were spent in the mainenance & extension of city streets. A concrete bridge was built. /Street lights were installed. Unemployment was abolished. Allmthese enterprises were carried out with work certificates with a circulation which never exceeded 12,000 schillings.

But as stated earlier, financial authorities were opposed to this, as no interest payments were made, & it was closed down, to make the story short, with a return to poverty for all was decreed. In case something like this mught be needed soon, it is offered as way out. amen.

tau