The Friends of Liberty mission is to present libertarian ideas to Greater Clevelanders so that they may encounter, evaluate and, when appropriate, embrace the ideas of self-government. We are non-political, though we discuss politics and we know that arm-twisting or lapel-grabbing communication techniques do not work well in selling the ideas of liberty. We are always interested in new ways to bring self-government concepts to Greater Clevelanders and will gladly accept your suggestions on how we may accomplish this goal.

The NorthCoast Friends of Liberty meets the last Monday of each month at Denny's restaurant, 1600 Snow Rd (398-7076). Get off at 77 and Rockside, turn West on Rockside, continue for about 2 1/2 miles and there is the Denny's on the right. We will be in their meeting room. Dinner is from 6:15 to 7PM, then the speaker starts at 7PM.

McMenamin was unable to attend the March 24 meeting of the NorthCoast Friends of Liberty. With no preparation, Professor Lingle from CWRU gave an outstanding talk about his experiences in Singapore and their implications for liberty. He pointed out using personal examples of how the mind police mentality of the Singaporean system operates. How many American organizations such as Cato and Heritage falsely assume that Singapore is a fine model for Asian Capitalism-Democracy. It's far more Orwellian - he had a different term, less offensive sounding than fascism - "Authoritarian Capitalism".

Can money--either currency or deposit--be left to the free market? A century ago, most currency consisted of notes issued by private banks. Today, currency is a nationalized industry. The development of "smart cards" or "digital currency" may soon return the business to private banks. Already a significant share of dollar deposits are in unregulated and uninsured offshore bank accounts, and desktop electronic funds transfers may accentuate this trend. Will rapid movements of "stateless money" destabilize the economy, as some fear, or could they actually provide a salutary check on the monetary policies of governments?

Dr. White received his Ph.D. in Economics from the University of California at Los Angeles, and has taught at New York University and the University of Georgia. His publications include Free Banking in Britain:Theory, Experience, and Debate, 1800-1845 (1995), Competition and Currency:Essays on Free Banking and Money (1989), several edited books, and numerous articles focusing on the history and policy of banking and monetary institutions.

Thursday, April 10, 1997 at 4:00 p.m. in the Toepfer Room, Adelbert Hall. Free and open to the public. For information contact Department of Economics, 368-4110.