|November 2007 Newsletter|
U.S. obtained the Oregon Territory
south of the 49th parallel, which became
Washington, Oregon, and Idaho.
U.S. received California, Nevada, Utah,
most of Arizona and New Mexico,
and parts of Colorado and Wyoming,
which led to the Compromise of 1850,
the Kansas-Nebraska Act,
the rise of the Republican Party,
secession, civil war, emancipation.
This was POSITIVE TERRITORIAL DISPLACEMENT, in which a government that better follows Biblical principles replaces one that follows them less (Deut. 20:10-11,15). Superior and inferior political systems exist (1 Sam. 8:7). Unlike the U.S., the British political system had no trinitarian shared sovereignty in federalism and fewer checks and balances. Chaotic Mexico had armed party battles, many revolutions, multiple constitutions, repeated dictatorships. U.S. Gen. Winfield Scott ruled Mexico City so well, a Mexican group asked him to stay as dictator.
League of Nations Covenant
in the Versailles Treaty
League member nations would:
|money and banking|
Independent Treasury System
– No federal control over the money supply –
Deliberate currency debasement is wrong (Lev. 19:35-36; Deut. 25:13-15; Prov. 11:1, 16:11, 20:10, 23; Amos 8:5-6; Mic. 6:10-11). The Constitutional Convention rejected bids to authorize federal bills of credit (fiat paper money) and federal charters of corporations such as banks, one delegate saying that emissions of federal bills of credit would be "as alarming as the mark of the Beast in Revelation."
Federal Reserve System
– Much federal control over the money supply –
no free-market interest rates
Where there is one medium of exchange, government should not expand the money supply enough to raise prices, lest it defraud creditors (through eroded purchasing power of repaid loans) and oppress debtors (inflation raises prices faster than wages, making debts harder to pay) (Deut. 17:17b). Price controls on interest rates mislead investors, misallocating resources and causing general, economy-wide booms and busts.