A MOTION TO RESTORE THE POWER OF THE ISSUE OF MONEY TO THE CROWN
On the 22nd December, 1964, Captain Henry Kerby, MP, placed the following Motion before the House of Commons.
THE EMISSION OF ALL THE MEANS OF EXCHANGE
That this House considers that the continued issue of all the means of exchange – be they coin, bank-notes or credit, largely passed on by cheques – by private firms as an interest-bearing debt against the public should cease forthwith; that the Sovereign power and duty of issuing money in all forms should be returned to the Crown, then to be put into circulation free of all debt and interest obligations, as a public service, not a private opportunity of profit and control for no tangible returns to the British people; and that the volume of money be controlled so as to maintain stable prices:
That the nationalization of the Bank of England did nothing to solve this problem as the bank only serves a subsidiary purpose and almost all money is still created out of nothing by mere book entry by private banks:
That the aims of those who want to assure private property and free enterprise, as well as those who want to protect the British people from unfair exploitation, would both be best served by restoring the power of issuing money to Her Majesty The Queen, in accordance with ancient tradition and law, as is also demanded by the American Constitution, which gives the right of issue solely to Congress, so as to assure the State and Nation the benefits of that emission and relieve them of the immense and growing burdens of a parasitical National and private debt; and to make certain that control passes to the taxed and is taken out of the hands of the present hidden and unlawful beneficiaries of taxation, much of the proceeds of which they collect as interest on all money and immense debts:
And therefore this House calls upon Her Majesty's Government to introduce the required legislation, to assert the proper sovereignty of The Queen in Council in this most important of all sovereign functions, to assure unprecedented prosperity with true sovereignty and liberty.