Replies to post #123060 on Zeev's Turnips Patch-No Politics (ZEEV)

[phill]

OT {Wasn't the Wizard of Oz written before the Fed was enacted?}

You're right.

According to Don Stott, it was written in support of Williams Jennings Bryan, and also advocated a bi-metallic (gold+silver) agenda.

see here:
http://www.gold-eagle.com/gold_digest_02/stott041502.html

regards,

phill

[phineas gage]

Yes. I'm busted. Check out this link:
http://www.literature.org/authors/baum-l-frank/

It says the "Wonderful Wizard of Oz" was written in 1900.

The Federal Reserve grew out of the Panic of 1907 and was enacted in 1913.

"The latter part of the 19th century was an era of deflation. It was also a period of remarkable political and cultural upheaval. Deflation spurred the creation of a radical political movement called Populism that called for the value of the dollar to be based on a silver standard as well as a gold standard. This "bi-metal" standard would ease the crushing burden of debt and help raise deflated prices, the Populists argued.

The big Eastern corporations, which had huge economic stakes in gold, bitterly opposed the silver plan. In 1896, Democratic Presidential candidate William Jennings Bryan delivered his famous "Cross of Gold" speech. Deflation was so common that The Wizard of Oz, written by former South Dakota newspaperman L. Frank Baum in 1900, is riddled with allegorical references to deflation and inflation."

(http://www.businessweek.com/bwdaily/dnflash/sep2002/nf20020913_8895.htm