Edison developed hearing problems at an early age. The cause of his deafness has been attributed to a bout of scarlet fever during childhood and recurring untreated middle-ear infections. Around the middle of his career, Edison attributed the hearing impairment to being struck on the ears by a train conductor when his chemical laboratory in a boxcar caught fire and he was thrown off the train in Smiths Creek, Michigan, along with his apparatus and chemicals. In his later years, he modified the story to say the injury occurred when the conductor, in helping him onto a moving train, lifted him by the ears.
Edison's family moved to Port Huron, Michigan, after the railroad bypassed Milan in 1854 and business declined. Edison sold candy and newspapers on trains running from Port Huron to Detroit, and sold vegetables. He briefly worked as a telegraph operator in 1863 for the Grand Trunk Railway at Stratford, Ontario railway at age 16. He was held responsible for a near collision. He also studied qualitative analysis and conducted chemical experiments on the train until he left the job.
Edison obtained the exclusive right to sell newspapers on the road, and, with the aid of four assistants, he set in type and printed the Grand Trunk Herald, which he sold with his other papers. This began Edison's long streak of entrepreneurial ventures, as he discovered his talents as a businessman. These talents eventually led him to found 14 companies, including General Electric, which is still one of the largest publicly traded companies in the world.
Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."
In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, can be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that, if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.
He thought at length about the subject of money in 1921 and 1922. In May 1922, he published a proposal, entitled "A Proposed Amendment to the Federal Reserve Banking System". In it, he detailed an explanation of a commodity-backed currency, in which the Federal Reserve would issue interest-free currency to farmers, based on the value of commodities they produced. During a publicity tour that he took with friend and fellow inventor, Henry Ford, he spoke publicly about his desire for monetary reform. For insight, he corresponded with prominent academic and banking professionals. In the end, however, Edison's proposals failed to find support and were eventually abandoned.
Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."
In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, can be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that, if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.
He thought at length about the subject of money in 1921 and 1922. In May 1922, he published a proposal, entitled "A Proposed Amendment to the Federal Reserve Banking System". In it, he detailed an explanation of a commodity-backed currency, in which the Federal Reserve would issue interest-free currency to farmers, based on the value of commodities they produced. During a publicity tour that he took with friend and fellow inventor, Henry Ford, he spoke publicly about his desire for monetary reform. For insight, he corresponded with prominent academic and banking professionals. In the end, however, Edison's proposals failed to find support and were eventually abandoned.
When asked about the many thousands of failures he had when trying to create the light-bulb he famously said, “I have not failed. I’ve just found 10,000 ways that won’t work.” But there is even more to it than that. As a child he was thought to be dumb and told that he would never be a success by many of his teachers, because his mind would often wander in class.
Good thing for us that the greatest inventor in history did not listen.
Edison's family moved to Port Huron, Michigan, after the railroad bypassed Milan in 1854 and business declined. Edison sold candy and newspapers on trains running from Port Huron to Detroit, and sold vegetables. He briefly worked as a telegraph operator in 1863 for the Grand Trunk Railway at Stratford, Ontario railway at age 16. He was held responsible for a near collision. He also studied qualitative analysis and conducted chemical experiments on the train until he left the job.
Edison obtained the exclusive right to sell newspapers on the road, and, with the aid of four assistants, he set in type and printed the Grand Trunk Herald, which he sold with his other papers. This began Edison's long streak of entrepreneurial ventures, as he discovered his talents as a businessman. These talents eventually led him to found 14 companies, including General Electric, which is still one of the largest publicly traded companies in the world.
Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."
In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, can be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that, if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.
He thought at length about the subject of money in 1921 and 1922. In May 1922, he published a proposal, entitled "A Proposed Amendment to the Federal Reserve Banking System". In it, he detailed an explanation of a commodity-backed currency, in which the Federal Reserve would issue interest-free currency to farmers, based on the value of commodities they produced. During a publicity tour that he took with friend and fellow inventor, Henry Ford, he spoke publicly about his desire for monetary reform. For insight, he corresponded with prominent academic and banking professionals. In the end, however, Edison's proposals failed to find support and were eventually abandoned.
Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."
In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, can be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that, if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.
He thought at length about the subject of money in 1921 and 1922. In May 1922, he published a proposal, entitled "A Proposed Amendment to the Federal Reserve Banking System". In it, he detailed an explanation of a commodity-backed currency, in which the Federal Reserve would issue interest-free currency to farmers, based on the value of commodities they produced. During a publicity tour that he took with friend and fellow inventor, Henry Ford, he spoke publicly about his desire for monetary reform. For insight, he corresponded with prominent academic and banking professionals. In the end, however, Edison's proposals failed to find support and were eventually abandoned.
When asked about the many thousands of failures he had when trying to create the light-bulb he famously said, “I have not failed. I’ve just found 10,000 ways that won’t work.” But there is even more to it than that. As a child he was thought to be dumb and told that he would never be a success by many of his teachers, because his mind would often wander in class.
Good thing for us that the greatest inventor in history did not listen.
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