Josiah Warren Quotes
It has a sound and rational circulating medium, a real and definite representative of wealth.
Warren, Josiah. Manifesto. Self-published, 1841.
There has always been a fear of inflation and currency debasement by governments. Since ancient times, rulers issued coins and when they were made of cheap metals like copper or iron, the ruler could mint as much as he wanted and when he did so the value went down. By using only precious metals, gold and silver, for coins, there would be a natural restraint on government. Garfield was one of those who believed that we should always have money of gold and silver. The United States would use that principle for the next century even backing its paper money with gold and silver. In the Nixon administration the United States abandoned the gold standard. Today, it is the ability of a country to produce things that maintains value of paper money which has been supplanted in many cases by electronic money.
At the time, there was no United States currency. Private banks in some of the states issued their own money. A dollar from Georgia might only be worth 75 cents in New York.
Josiah Warren was an American individualist anarchist, inventor, musician, printer and author. He is regarded by some as the first American anarchist (although Warren never used the term anarchism himself) and the four-page weekly paper he edited during 1833, The Peaceful Revolutionist, the first anarchist periodical published, was an enterprise for which he built his own printing press, cast his own type, and made his own printing plates.
