Economic struggles played a huge role in the founding of our country, despite some attempts to revise that history.Constitutional Convention Delegates Had Common Goal: Ending Democratic FinanceMonday, 04/4/2011 - 11:46 am by William Hogeland
Edmund Randolph of Virginia kicked off the meeting we now know as the United States constitutional convention by offering his fellow delegates a key inducement to forming a new U.S. government. America lacked “sufficient checks against the democracy,” Randolph said. A new government would provide those checks.
Randolph’s listeners in Philadelphia in the spring of 1787 knew what he meant by “the democracy.” And readers of this series probably will, too. He was talking about the 18th-century American popular finance movement, whose supporters agitated for policies to obstruct concentrated wealth and to give regular folks access to political power and economic equality. Amid depressions and foreclosures, ordinary people had long been rioting — they called it “regulating” — to pressure assemblies to restrain the merchant creditors, whose command of scarce gold and silver let them acquire immense wealth by lending at high, even predatory rates to the needier.
--more--
http://www.newdeal20.org/2011/04/04/constitutional-convention-delegates-had-common-goal-ending-democratic-finance-40634/