TAILIEUCHUNG - MUTUAL BANKING: SHOWING THE RADICAL DEFICIENCY OF THE PRESENT CIRCULATING MEDIUM, AND THE ADVANTAGES OF A FREE CURRENCY

Recent years have witnessed an increase in migration from several Asian countries and thus in remittance flows. The top international destinations for Bangladeshi, Indian and Pakistani migrant workers are the oil-producing countries in Western Asia (Bahrain, Iraq, Kuwait, Libya, Oman, Qatar, United Arab Emirates) and countries in Southeastern Asia (Malaysia, the Republic of Korea, Singapore). Bangladesh has experienced a high degree of internal migration, but between 1976 and 2002, over 3 million people left the country to work abroad. During the same period Bangladeshi migrants sent home $25 million in. | MUTUAL BANKING SHOWING THE RADICAL DEFICIENCY OF THE PRESENT CIRCULATING MEDIUM AND THE ADVANTAGES OF A FREE CURRENCY. SIXTH THOUSAND BY WILLIAM B. GREENE. PUBLISHED BY THE NEW THE NEW ENGLAND LABOR REFORM LEAGUE FOR SALE BY . NEWS CO. BOSTON AND AMERICAN NEWS CO. NEW YORK. WORCESTER PRINTED BY CHAS. HAMILTON. 1870. EDITOR S PREFACE A series of meetings in search of industrial equity started in Worcester Massachusetts August 1867 disclosed a belief that the solution of the labor problem will not be found in trades monopolies special legislation to reduce the hours or increase the wages of service co-operation on present methods of ownership exchange and finance or other expedients by restricting competition to remove evils which natural forces would expel if allowed a chance but rather in opportunity and reciprocity in the unrestricted liberty to create and equitable exchange ofvalues which only asks government to step out of the way. In the progress of thought service appeared to be the source of wealth and the true basis of exchange while interest rent and profit or dividends seemed inadmissible except for work done or risk incurred. The use of one s credit was found to be a natural right antecedently independent of human law and free money the destined mediator between labor and capital. After this faith was reaffirmed in the Boston Convention of January 1869 we were agreeably surprised to learn that substantially the same conclusions had been reached by a different line of argument twenty years before in a series of articles published in a Worcester County newspaper over the signature of Omega. Reprinted in 1850 and 1857 these essays generously placed at our disposal by their author we now have the pleasure of reissuing for general circulation. The truths stated in them are as fresh and practicable today as they were twenty years ago and the public is better prepared to receive them Under the old slave system property in man held a sceptre more despotic than

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