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Banking on New Hampshire.org

348 Pinnacle Hill Rd. New Hampton NH 03256 US

+1-603-455-7344

ValerieFraser@bankingonNewHampshire.org

NH House Bill 590; to establish a state bank.

BANKING ON NEW HAMPSHIRE

Where's The Money?

Vermonters for a New Economy

Gwendolyn Hallsmith at gwenhs@gmail.com

802-851-7697

​​Lake Winnipesaukee, NH- photo by Valerie Fraser                                   

Throughout the history of banking, it has been shown time and time again, that when banks provide appropriate credit, the economy grows. Conversely, when bank credit is limited or withdrawn, property prices collapse and depressions result along with vast unemployment. Establishing a state bank or "public bank" is an answer to our looming unemployment, economic and energy cost difficulties. A development bank of NH would create credit, and issue it for NH. Let's look at a comparison: If NH borrows money for infrastructure needs or energy projects, we the people of NH (the users of those projects) will ultimately be paying back the interest on those 10 year bonds to the banking/loan investors. If, however, we created the credit ourselves, and loaned it at 2%, we the people of NH would be the recipients of that interest money. We would save a lot of money on repayment of debt and not have to agree to "terms" of the loan from lending banks, and we would increase our non-tax revenue, create jobs, etc. A development bank of NH would be a great vehicle to manage our wealth. Our money would be better managed here, locally and regionally, than elsewhere.