Saturday, April 8, 2023

The High Moral Ground complete with no underlying crimes


In the Colonial period, New England colonies faced significant economic challenges due to a lack of access to hard currency, which prompted the creation of land banks. Land banks were financial institutions established by colonial governments to issue paper currency backed by real estate mortgages. These banks allowed for the issuance of paper money, which was backed by the value of the land held by the bank.

While land banks provided a way to increase the money supply in the colonies, they were also dangerous. One of the primary risks associated with land banks was that they could lead to boom/bust cycles. This is because the value of the paper currency issued by the bank was based on the value of the land held by the bank, which could fluctuate dramatically in value. As a result, the paper currency could quickly become worthless if the value of the land declined.

Furthermore, the issuance of paper currency by land banks could lead to inflation, reducing the currency's value and increasing the price of goods and services. This could be particularly problematic for the poor and working-class people affected by inflation.

The Puritans of New England devised an immoral and illegal solution to address these issues. They decided to invade the French colony of Canada and steal their wealth to balance their money woes. This invasion was justified by the morality of being Protestant and attacking the Catholic Papists of Canada. The Puritans believed they were morally superior to the Catholics, and their actions were justified.

This belief in moral superiority led the Puritans to misuse legal processes. They would make arrests without an underlying crime simply because the individuals they arrested were suspected of being Catholics or French sympathizers.

The story's moral is that when one group feels morally superior to another, it often leads to violence and the misuse of legal processes. In this case, the Puritans believed their religion made them superior to the Catholics, leading them to engage in violent and illegal actions.

Land banks were created in New England during the Colonial period to address the economic challenges faced by the colonies. However, issuing paper currency by land banks was risky and could lead to inflation and other economic problems. The Puritans of New England believed their moral superiority justified their invasion of Canada and illegal actions. This belief led them to engage in violent and illegal activities, reminding us of the dangers of believing in moral superiority.




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