Heal The Money
System Heal Society
by Suzanne
Phillips
How a
cleverly devised banking system robs the average person of the right to a
decent life while providing enormous wealth for its corporate owners and
stockholders
The following is reproduced from the Federal-Reserve.net website and author Suzanne Phillips On May 23, 1933,
Congressman, Louis T. McFadden, brought formal charges against the Board of
Governors of the Federal Reserve Bank system, The Comptroller of the Currency
and the Secretary of United States Treasury for numerous criminal acts,
including but not limited to, conspiracy, fraud, unlawful conversion, and
treason. The petition for Articles of Impeachment was thereafter referred to the
Judiciary Committee and has yet to be acted on.
Congressman McFadden's Speech On the
Federal Reserve Corporation Quotations
from several speeches made on the Floor of the House of Representatives by the
Honorable Louis T. McFadden of Pennsylvania. Mr. McFadden, due to his having
served as Chairman of the Banking and Currency Committee for more than 10 years,
was the best posted man on these matters in America and was in a position to
speak with authority of the vast ramifications of this gigantic private credit
monopoly. As Representative of a State which was among the first to declare its
freedom from foreign money tyrants it is fitting that Pennsylvania, the cradle
of liberty, be again given the credit for producing a son that was not afraid to
hurl defiance in the face of the money-bund. Whereas Mr. McFadden was elected to
the high office on both the Democratic and Republican tickets, there can be no
accusation of partisanship lodged against him. Because these speeches are set
out in full in the Congressional Record, they carry weight that no amount of
condemnation on the part of private individuals could hope to
carry.
The Federal
Reserve - A Corrupt Institution
"Mr. Chairman,
we have in this Country one of the most corrupt institutions the world has ever
known. I refer to the Federal Reserve Board and the Federal Reserve Banks,
hereinafter called the Fed. The Fed has cheated the Government of these United
States and the people of the United States out of enough money to pay the
Nation's debt. The depredations and iniquities of the Fed has cost enough money
to pay the National debt several times over.
"This evil
institution has impoverished and ruined the people of these United States, has
bankrupted itself, and has practically bankrupted our Government. It has done
this through the defects of the law under which it operates, through the
maladministration of that law by the Fed and through the corrupt practices of
the moneyed vultures who control it.
"Some people
who think that the Federal Reserve Banks United States Government institutions.
They are private monopolies which prey upon the people of these United States
for the benefit of themselves and their foreign customers; foreign and domestic
speculators and swindlers; and rich and predatory money lender. In that dark
crew of financial pirates there are those who would cut a man's throat to get a
dollar out of his pocket; there are those who send money into states to buy
votes to control our legislatures; there are those who maintain International
propaganda for the purpose of deceiving us into granting of new concessions
which will permit them to cover up their past misdeeds and set again in motion
their gigantic train of crime.
"These twelve
private credit monopolies were deceitfully and disloyally foisted upon this
Country by the bankers who came here from Europe and repaid us our hospitality
by undermining our American institutions. Those bankers took money out of this
Country to finance Japan in a war against Russia. They created a reign of terror
in Russia with our money in order to help that war along. They instigated the
separate peace between Germany and Russia, and thus drove a wedge between the
allies in World War. They financed Trotsky's passage from New York to Russia so
that he might assist in the destruction of the Russian Empire. They fomented and
instigated the Russian Revolution, and placed a large fund of American dollars
at Trotsky's disposal in one of their branch banks in Sweden so that through him
Russian homes might be thoroughly broken up and Russian children flung far and
wide from their natural protectors. They have since begun breaking up of
American homes and the dispersal of American children. "Mr. Chairman, there
should be no partisanship in matters concerning banking and currency affairs in
this Country, and I do not speak with any.
"In 1912 the
National Monetary Association, under the chairmanship of the late Senator Nelson
W. Aldrich, made a report and presented a vicious bill called the National
Reserve Association bill. This bill is usually spoken of as the Aldrich bill.
Senator Aldrich did not write the Aldrich bill. He was the tool, if not the
accomplice, of the European bankers who for nearly twenty years had been
scheming to set up a central bank in this Country and who in 1912 has spent and
were continuing to spend vast sums of money to accomplish their purpose.
"We were
opposed to the Aldrich plan for a central bank. The men who rule the Democratic
Party then promised the people that if they were returned to power there would
be no central bank established here while they held the reigns of government.
Thirteen months later that promise was broken, and the Wilson administration,
under the tutelage of those sinister Wall Street figures who stood behind
Colonel House, established here in our free Country the worm-eaten monarchical
institution of the "King's Bank" to control us from the top downward, and from
the cradle to the grave.
"The Federal
Reserve Bank destroyed our old and characteristic way of doing business. It
discriminated against our 1-name commercial paper, the finest in the world, and
it set up the antiquated 2-name paper, which is the present curse of this
Country and which wrecked every country which has ever given it scope; it
fastened down upon the Country the very tyranny from which the framers of the
Constitution sought to save us.
President
Jackson's Time
"One of the greatest
battles for the preservation of this Republic was fought out here in Jackson's
time; when the second Bank of the United States, founded on the same false
principles of those which are here exemplified in the Fed was hurled out of
existence. After that, in 1837, the Country was warned against the dangers that
might ensue if the predatory interests after being cast out should come back in
disguise and unite themselves to the Executive and through him acquire control
of the Government. That is what the predatory interests did when they came back
in the livery of hypocrisy and under false pretenses obtained the passage of the
Fed.
"The danger that the
Country was warned against came upon us and is shown in the long train of
horrors attendant upon the affairs of the traitorous and dishonest Fed. Look
around you when you leave this Chamber and you will see evidences of it in all
sides. This is an era of misery and for the conditions that caused that
misery, the Fed are fully liable. This is an era of financed crime and in the
financing of crime the Fed does not play the part of a disinterested spectator.
"It has been said that
the draughtsman who was employed to write the text of the Aldrich bill because
that had been drawn up by lawyers, by acceptance bankers of European origin in
New York. It was a copy, in general a translation of the statues of the
Reichsbank and other European central banks. One-half million dollars was spent
on the part of the propaganda organized by these bankers for the purpose of
misleading public opinion and giving Congress the impression that there was an
overwhelming popular demand for it and the kind of currency that goes with it,
namely, an asset currency based on human debts and obligations. Dr. H. Parker
Willis had been employed by Wall Street and propagandists, and when the Aldrich
measure failed- he obtained employment with Carter Glass, to assist in drawing
the banking bill for the Wilson administration. He appropriated the text of the
Aldrich bill. There is no secret about it. The test of the Federal Reserve Act
was tainted from the first.
"A few days before the
bill came to a vote, Senator Henry Cabot Lodge, of Massachusetts, wrote to
Senator John W. Weeks as follows:
New York
City,
December 17,
1913
"'My Dear Senator Weeks:
"'Throughout my public life I have supported all
measures designed to take the Government out of the banking business. This
bill puts the Government into the banking business as never before in our
history. "'The powers vested in the Federal Reserve Board seen to me
highly dangerous especially where there is political control of the Board.
I should be sorry to hold stock in a bank subject to such dominations. The
bill as it stands seems to me to open the way to a vast inflation of the
currency. "'I had hoped to support this bill, but I cannot vote for it
cause it seems to me to contain features and to rest upon principles in
the highest degree menacing to our prosperity, to stability in business,
and to the general welfare of the people of the United
States.
Very Truly
Yours,
Henry Cabot
Lodge.'" |
"In eighteen years that
have passed since Senator Lodge wrote that letter of warning all of his
predictions have come true. The Government is in the banking business as never
before. Against its will it has been made the backer of horse thieves and card
sharps, bootlegger's smugglers, speculators, and swindlers in all parts of the
world. Through the Fed the riffraff of every country is operating on the public
credit of the United States Government.
The Great
Depression
"Meanwhile and on account
of it, we ourselves are in the midst of the greatest depression we have ever
known. From the Atlantic to the Pacific, our Country has been ravaged and laid
waste by the evil practices of the Fed and the interests which control them. At
no time in our history, has the general welfare of the people been at a lower
level or the minds of the people so full of despair.
"Recently in one of our
States, 60,000 dwelling houses and farms were brought under the hammer in a
single day. 71,000 houses and farms in Oakland County, Michigan, were sold and
their erstwhile owners dispossessed. The people who have thus been driven out
are the wastage of the Fed. They are the victims of the Fed. Their children are
the new slaves of the auction blocks in the revival of the institution of human
slavery.
The Scheme Of The Fed
"In 1913, before the
Senate Banking and Currency Committee, Mr. Alexander Lassen made the following
statement: "The whole scheme of the Fed with its commercial paper is an
impractical, cumbersome machinery- is simply a cover to secure the privilege of
issuing money, and to evade payment of as much tax upon circulation as possible
and then control the issue and maintain, instead of reducing interest rates. It
will prove to the advantage of the few and the detriment of the people. It will
mean continued shortage of actual money and further extension of credits, for
when there is a shortage of money people have to borrow to their cost.' "A few
days before the Fed passed, Senator Root denounced the Fed as an outrage on our
liberties. He predicted: 'Long before we wake up from our dream of prosperity
through an inflated currency, our gold- which alone could have kept us from
catastrophe- will have vanished and no rate of interest will tempt it to
return.'
"If ever a prophecy came
true, that one did.
"The Fed became law the
day before Christmas Eve, in the year 1913, and shortly afterwards, the German
International bankers, Kuhn, Loeb and Co. sent one of their partners here to run
it.
"The Fed Note is
essentially unsound. It is the worst currency and the most dangerous that this
Country has ever known. When the proponents of the act saw that the Democratic
doctrine would not permit them to let the proposed banks issue the new currency
as bank notes, they should have stopped at that. They should not have foisted
that kind of currency, namely, an asset currency, on the United States
Government. They should not have made the Government [liable on the private]
debts of individuals and corporations, and, least of all, on the private debts
of foreigners. "As Kemerer says: 'The Fed Notes, therefore, in form, have some
of the qualities of Government paper money, but in substance, are almost a pure
asset currency possessing a Government guarantee against which contingency the
Government has made no provision whatever.'
"Hon. L.J.Hill, a former
member of the House, said, and truly: "They are obligations of the Government
for which the United States received nothing and for the payment of which at any
time, it assumes the responsibility: looking to the Fed to recoup itself.'
"If this United States is
to redeem the Fed Notes, when the General Public finds it costs to deliver this
paper to the Fed, and if the Government has made no provisions for redeeming
them, the first element of unsoundness is not far to seek.
"Before the Banking and
Currency Committee, when the bill was under discussion Mr. Crozier of Cincinnati
said: 'The imperial power of elasticity of the public currency is wielded
exclusively by the central corporations owned by the banks. This is a life and
death power over all local banks and all business. It can be used to create or
destroy prosperity, to ward off or cause stringencies and panics. By making
money artificially scarce, interest rates throughout the Country can be
arbitrarily raised and the bank tax on all business and cost of living increased
for the profit of the banks owning these regional central banks, and without the
slightest benefit to the people. The 12 Corporations together cover y and
monopolize and use for private gain- every dollar of the public currency and all
public revenue of the United States. Not a dollar can be put into circulation
among the people by their Government, without the consent of and on terms fixed
by these 12 private money trusts.'
"In defiance of this and
all other warnings, the proponents of the Fed created the 12 private credit
corporations and gave them an absolute monopoly of the currency of these United
States- not of the Fed Notes alone- but of all other currency! The Fed Act
providing ways and means by which the gold and general currency in the hands of
the American people could be obtained by the Fed in exchange for Fed Notes-
which are not money- but mere promises to pay.
"Since the evil day when
this was done, the initial monopoly has been extended by vicious amendments to
the Fed and by the unlawful and treasonable practices of the Fed.
"Mr. Chairman, if a Scottish
distiller wishes to send a cargo of Scotch whiskey to these United States, he
can draw his bill against the purchasing bootlegger in dollars and after the
bootlegger has accepted it by writing his name across the face of it, the Scotch
distiller can send that bill to the nefarious open discount market in New York
City where the Fed will buy it and use it as collateral for a new issue of Fed
Notes. Thus the Government of these United States pay the Scotch distiller for
the whiskey before it is shipped, and if it is lost on the way, or if the Coast
Guard seizes it and destroys it, the Fed simply write off the loss and the
government never recovers the money that was paid to the Scotch distiller.
"While we are attempting to
enforce prohibition here, the Fed are in the distillery business in Europe and
paying bootlegger bills with public credit of these United States. "Mr.
Chairman, by the same process, they compel our Government to pay the German
brewer for his beer. Why should the Fed be permitted to finance the brewing
industry in Germany either in this way or as they do by compelling small and
fearful United States Banks to take stock in the Isenbeck Brewery and in the
German Bank for brewing industries? "Mr. Chairman, if Dynamit Nobel of Germany,
wishes to sell dynamite in Japan to use in Manchuria or elsewhere, it can drew
its bill against the Japanese customers in dollars and send that bill to the
nefarious open discount market in New York City where the Fed will buy it and
use it as collateral for a new issue of Fed Notes- while at the same time the
Fed will be helping Dynamit Nobel by stuffing its stock into the United States
banking system.
"Why should we send
our representatives to the disarmament conference at Geneva- while the Fed is
making our Government pay Japanese debts to German Munitions makers?
"Mr. Chairman, if a German
wishes to raise a crop of beans and sell them to a Japanese customer, he can
draw a bill against his prospective Japanese customer in dollars and have it
purchased by the Fed and get the money out of this Country at the expense of the
American people before he has even planted the beans in the ground. "Mr.
Chairman, if a German in Germany wishes to export goods to South America, or any
other Country, he can draw his bill against his customers and send it to these
United States and get the money out of this Country before he ships, or even
manufactures the goods.
"Mr. Chairman, why should
the currency of these United States be issued on the strength of German Beer?
Why should it be issued on the crop of unplanted beans to be grown in Chili for
Japanese consumption? Why should these United States be compelled to issue many
billions of dollars every year to pay the debts of one foreigner to another
foreigner? "Was it for this that our National Bank depositors had their money
taken out of our banks and shipped abroad? Was it for this that they had to lose
it? Why should the public credit of these United States and likewise money
belonging to our National Bank depositors be used to support foreign brewers,
narcotic drug vendors, whiskey distillers, wig makes, human hair merchants,
Chilean bean growers, to finance the munition factories of Germany and Soviet
Russia?
The United States Has Been Ransacked
"The United States has been
ransacked and pillaged. Our structures have been gutted and only the walls are
left standing. While being perpetrated, everything the world would rake up to
sell us was brought in here at our expense by the Fed until our markets were
swamped with unneeded and unwanted imported goods priced far above their value
and make to equal the dollar volume of our honest exports, and to kill or reduce
our favorite balance of trade. As Agents of the foreign central banks the Fed
try by every means in their power to reduce our favorable balance of trade. They
act for their foreign principal and they accept fees from foreigners for acting
against the best interests of these United States. Naturally there has been
great competition among among foreigners for the favors of the Fed.
"What we need to do is to
send the reserves of our National Banks home to the people who earned and
produced them and who still own them and to the banks which were compelled to
surrender them to predatory interests.
"Mr. Chairman, there is
nothing like the Fed pool of confiscated bank deposits in the world. It is a
public trough of American wealth in which the foreigners claim rights, equal to
or greater than Americans. The Fed are the agents of the foreign central banks.
They use our bank depositors' money for the benefit of their foreign principals.
They barter the public credit of the United States Government and hire it our to
foreigners at a profit to themselves.
"All this is done at the
expense of the United States Government, and at a sickening loss to the American
people. Only our great wealth enabled us to stand the drain of it as long as we
did.
"We need to destroy the Fed
wherein our national reserves are impounded for the benefit of the foreigners.
"We need to save America for Americans.
Spurious Securities
"Mr. Chairman, when you hold
a $10.00 Fed Note in your hand, you are holding apiece of paper which sooner or
later is going to cost the United States Government $10.00 in gold (unless the
Government is obliged to go off the gold standard). It is based on limburger
cheese (reported to be in foreign warehouses) or in cans purported to contain
peas (but may contain salt water instead), or horse meat, illicit drugs,
bootleggers fancies, rags and bones from Soviet Russia (of which these United
States imported over a million dollars worth last year), on wines whiskey,
natural gas, goat and dog fur, garlic on the string, and Bombay ducks.
"If you like to have paper
money- which is secured by such commodities- you have it in Fed Note. If you
desire to obtain the thing of value upon which this paper currency is based,
that is, the limburger cheese, the whiskey, the illicit drugs, or any of the
other staples- you will have a very hard time finding them.
"Many of these worshipful
commodities are in foreign Countries. Are you going to Germany to inspect her
warehouses to see if the specified things of value are there? I think more, I do
not think that you would find them there if you did go.
"On April 27, 1932, the Fed
outfit sent $750,000 belonging to American bank depositors in gold to Germany. A
week later another $300,000 in gold was shipped to Germany. About the middle of
May $12,000,000 in gold was shipped to Germany by the Fed. Almost every week
there is a shipment of gold to Germany. These shipments are not made for profit
on the exchange since the German marks are blow parity with the dollar.
"Mr. Chairman, I believe
that the National Bank depositors of these United States have a right to know
what the Fed are doing with their money. There are millions of National Bank
depositors in the Country who do not know that a percentage of every dollar they
deposit in a Member Bank of the Fed goes automatically to American Agents of the
foreign banks and that all their deposits can be paid away to foreigners without
their knowledge or consent by the crooked machinery of the Fed and the
questionable practices of the Fed.
[Ed. Note- Problem with next
paragraph in original] "Mr. Chairman, the American people should be told the
truth by their servants in office. In 1930, we had over a half billion dollars
outstanding daily to finance foreign goods stored in or shipped between several
billion dollars. What goods are these on which the Fed yearly pledge several
billions of dollars. In its yearly total, this item amounts to several billions
of dollars of the public credit of these United States?
"What goods are those which
are hidden in European and Asiatic stores have not been seen by any officer of
our Government but which are being financed on the public credit of the United
States Government? What goods are those upon which the 17 United States
Government is being obligated by the Fed to issue Fed Notes to the extent of
several billions of dollars a year?
The Bankers' Acceptance
Racket
"The Fed have been
International Banks from the beginning, with these United States as their
enforced banker and supplier of currency. But it is none the less extraordinary
to see these these twelve private credit monopolies, buying the debts of
foreigners against foreigners, in all parts of the world and asking the
Government of these United States for new issues of Fed notes in exchange for
them. "The magnitude of the acceptance racket as it has been developed by the
Fed, their foreign correspondents, and the predatory European born bankers, who
set up the Fed here and taught your own, by and of pirates, how to loot the
people: I say the magnitude of this racket is estimated to be in the
neighborhood of 9,000,000,000 per year. In the past ten years it is said to have
amounted to $90,000,000,000.00. In my opinion it has amounted to several times
that much. coupled to this you have to the extent of billions of dollars, the
gambling in the United States securities, which takes place in the same open
discount market- a gambling on which the Fed is now spending $100,000,000.00 per
week.
"Fed Notes are taken from
the U.S. Government in unlimited quantities. Is is strange that the burden of
supplying these immense sums of money to the gambling fraternity has at last
proved too heavy for the American people to endure? Would it not be a national
[calamity to] again bind down this burden on the backs of the American people
and by means of a long rawhide whip of the credit masters, compel them to
enter another seventeen years of slavery?
"They are trying to do that
now. They are trying to take $100,000,000.00 of the public credit of the United
States every week, in addition to all their other seizures and they are sending
that money to the nefarious open market in a desperate gamble to reestablish
their graft as a going concern.
"They are putting the United
States Government in debt to the extent of $100,000,000 a week, and with the
money they are buying our Government securities for themselves and their foreign
principals. Our people are disgusted with the experiences of the Fed. The Fed is
not producing a loaf of bread, a yard of cloth, a bushel of corn, or a pile of
cordwood by its check-kiting operations in the money market.
"Mr. Speaker, on the 13th of
January of this year I addressed the House on the subject of the Reconstruction
Finance Corporation. In the course of my remarks I made the following statement:
In 1928 the member banks of the Fed borrowed $60,598,690,000. from the Fed on
their fifteen-day promissory notes. Think of it. Sixty billion dollars payable
on demand in gold in the course of one single year. The actual amount of such
obligations called for six times as much monetary gold as there is in the world.
Such transactions represent a grant in the course of one single years of about
$7,000,000 to every member of the Fed.
"Is it any wonder that
American labor which ultimately pays the cost of all banking operations of this
Country has at last proved unequal to the task of supplying this huge total of
cash and credit for the benefit of the stock market manipulators and foreign
swindlers? "In 1933 the Fed presented the staggering amount of $60,598,690,000
to its member banks at the expense of the wage earners and tax payers of these
United States. In 1929, the year of the stock market crash, the Fed advanced
$58,000,000,000 to member banks.
"In 1930 while the
speculating banks were getting out of the stock market at the expense of the
general public, the Fed advanced them $13,022,782,000. This shows that when the
banks were gambling on the public credit of these United States as represented
by the Fed currency they were subsidized to any amount they required by the Fed.
When the swindle began to fall, the bankers knew it in advance and withdrew from
the market. They got out with whole skins- and left the people of these United
States to pay the piper. "My friend from Kansas, Mr. McGugin, has stated that he
thought the Fed lent money on rediscounting. So they do, but they lend
comparatively little that way. The real discounting that they do has been called
a mere penny in the slot business. It is too slow for genuine high flyers. They
discourage it. They prefer to subsidize their favorite banks by making them
$60,000,000,000 advances and they prefer to acquire assistance in the notorious
open discount market in New York, where they can use it to control the price of
stocks and bonds on the exchanges.
"For every dollar they
advanced on discounts in 1928, they lent $33.00 to their favorite banks for whom
they do a business of several billion dollars income tax on their profits to
these United States.
The John Law Swindle
"This is the John Law
swindle over again. The theft of Teapot Dome was trifling compared to it. What
King ever robbed his subject to such an extent as the Fed has robbed us? Is it
any wonder that there have been lately ninety cases of starvation in one of the
New York hospitals? Is there any wonder that the children are being abandoned?
"The government and the
people of these United States have been swindled by swindlers deluxe to whom the
acquisition of American or a parcel of Fed Notes presented no more difficulty
than the drawing up of a worthless acceptance in a Country not subject to the
laws of these United States, by sharpers not subject to the jurisdiction of
these United States, sharpers with strong banking "fence" on this side of the
water, a "fence" acting as a receiver of a worthless paper coming from abroad,
endorsing it and getting the currency out of the Fed for it as quickly as
possible exchanging that currency for gold and in turn transmitting the gold to
its foreign confederates.
Ivar Kreuger, the Match
King!
"Such were the exploits of
Ivar Krueger, Mr. Hoover's friend, and his rotten Wall Street bakers. Every
dollar of the billions Kreuger and his gang drew out of this Country on
acceptances was drawn from the government and the people of the United States
through the Fed. The credit of the United States Government was peddled to him
by the Fed for their own private gain. That is what the Fed has been doing for
many years.
"They have been peddling the
credit of this Government and the [signature of this] Government to the
swindlers and speculators of all nations. That is what happens when a Country
forsakes its Constitution and gives its sovereignty over the public currency to
private interests. Give them the flag and they will sell it.
"The nature of Kreuger's
organized swindle and the bankrupt condition of Kreuger's combine was known here
last June when Hoover sought to exempt Krueger's loan to Germany of $125,000,000
from the operation of the Hoover Moratorium. The bankrupt condition of Krueger's
swindle was known her last summer when $30,000,000 was taken from the American
taxpayers by certain bankers in New York for the ostensible purpose of
permitting Krueger to make a loan to Colombia. Colombia never saw that money.
"The nature of Krueger's
swindle was known here in January when he visited his friend, Mr. Hoover, at the
White House. It was known here in March before he went to Paris and committed
suicide.
"Mr. Chairman, I think the
people of the United States are entitled to know how many billions of dollars
were placed at the disposal of Krueger and his gigantic combine by the Fed, and
to know how much of our Government currency was issued and lost in the financing
of that great swindle in the years during which the Fed took care of Krueger's
requirements.
"A few days ago, the
President of the United States with a white face and shaking hands, went before
the Senate of behalf of the moneyed interests and asked the Senate to levy a tax
on the people so that foreigners might know that these United States would pay
its debt to them.
"Most Americans thought it
was the other way around. What does these United States owe foreigners? When and
by whom was the debt incurred? It was incurred by the Fed, when they peddled the
signature of the Government to foreigners- for a Price. It is what the United
States Government has to pay to redeem the obligations of the
Fed.
Thieves Go Scot Free
"Are you going to let these
thieves get off scot free? Is there one law for the looter who drives up to the
door of the United States Treasury in his limousine and another for the United
States Veterans who are sleeping on the floor of a dilapidated house on the
outskirts of Washington?
"The Baltimore and Ohio
Railroad is here asking for a large loan from the people, and the wage earners
and the taxpayers of these United States. It is begging for a handout from the
Government. It is standing, cap in hand, at the door of the R.F.C. where all the
jackals have gathered to the feast. It is asking for money that was raised from
the people by taxation and wants this money of the poor for the benefit of Kuhn,
Loeb and Co., the German International Bankers.
"Is there one law for the
Baltimore and Ohio Railroad and another for the hungry veterans it threw off its
freight cars the other day? Is there one law for sleek and prosperous swindlers
who call themselves bankers and another law for the soldiers who defended the
flag? "The R.F.C. is taking over these worthless securities from the Investment
Trusts with United States Treasury money at the expense of the American taxpayer
and the wage earner.
"It will take twenty years
to redeem our Government. Twenty years of penal servitude to pay off the
gambling debts of the traitorous Fed and to vast flood of American wages and
savings, bank deposits, and the United States Government credit which the Fed
exported out of this country to their foreign principals.
"The Fed lately conducted an
anti-hoarding campaign here. They they took that extra money which they had
persuaded the American people to put into the banks- they sent it to Europe-
along with the rest. In the last several months, they have sent $1,300,000,000
in gold to their foreign employers, their foreign masters, and every dollar of
that gold belonged to the people of these United States and was unlawfully taken
from them.
Fiat Money
"Mr. Chairman, within the
limits of the time allowed me, I cannot enter into a particularized discussion
of the Fed. I have singled out the Fed currency for a few remarks because there
has lately been some talk here of "fiat money". What kind of money is being
pumped into the open discount market and through it into foreign channels and
stock exchanges? Mr. Mills of the Treasury has spoken here of his horror of the
printing presses and his horror of dishonest money. He has no horror of
dishonest money. If he had, he would be no party to the present gambling of the
Fed in the nefarious open discount market of New York, a market in which the
sellers are represented by 10 discount corporations owned and organized by the
very banks which own and control the Fed.
"Fiat money, indeed!"
"What Mr. Mills is fighting
for is the preservation, whole and entire, of the banker's monopoly of all the
currency of the United States Government.
"Mr. Chairman, last
December, I introduced a resolution here asking for an examination and an audit
of the Fed and all related matters. If the House sees fit to make such an
investigation, the people of these United States will obtain information of
great value. This is a Government of the people, by the people, for the people.
Consequently, nothing should be concealed from the people. The man who deceives
the people is a traitor to these United States.
"The man who knows or
suspects that a crime has been committed and who conceals and covers up that
crime is an accessory to it. Mr. Speaker, it is a monstrous thing for this great
nation of people to have its destinies presided over by a traitorous government
board acting in secret concert with international usurers.
"Every effort has been made
by the Fed to conceal its powers- but the truth is- the Fed has usurped the
Government. It controls everything here and it controls all of our foreign
relations. It makes and breaks governments at will.
"No man and no body of men
is more entrenched in power than the arrogant credit monopoly which operated the
Fed. What National Government has permitted the Fed to steal from the people
should now be restored to the people. The people have a valid claim against the
Fed. If that claim is enforced the Americans will not need to stand in the bread
line, or to suffer and die of starvation in the streets. Women will be saved,
families will be kept together, and American children will not be dispersed and
abandoned.
"Here is a Fed Note. Immense
numbers of the notes are now held abroad. I am told that they amount to upwards
of a billion dollars. They constitute a claim against our Government and
likewise a claim against our peoples' money to the extent of $1,300,000,000
which has within the last few months been shipped abroad to redeem Fed Notes and
to pay other gambling debts of the traitorous Fed. The greater part of our money
stock has been shipped to other lands.
"Why should we promise to
pay the debts of foreigners to foreigners? Why should the Fed be permitted to
finance our competitors in all parts of the world? Do you know why the tariff
was raised? It was raised to shut out the flood of Fed Goods pouring in here
from every quarter of the globe- cheap goods, produced by cheaply paid foreign
labor, on unlimited supplies of money and credit sent out of this Country by the
dishonest and unscrupulous Fed.
"The Fed are spending
$100,000,000 a week buying government securities in the open market and are
making a great bid for foreign business. They are trying to make rates so
attractive that the human hair merchants and the distillers and other business
entities in foreign land will come her and hire more of the public credit of the
United States Government to pay the Fed outfit for getting it for them.
World Enslavement
Planned
"Mr. Chairman, when the Fed
was passed, the people of these United States did not perceive that a world
system was being set up here which would make the savings of the American school
teacher available to a narcotic-drug vendor in Acapulco. They did not perceive
that these United States was to be lowered to the position of a coolie country
which has nothing but raw material and heart, that Russia was destined to supply
the man power and that this country was to supply the financial power to an
"international superstate". A superstate controlled by international bankers,
and international industrialists acting together to enslave the world for their
own pleasure?
"The people of these United
States are being greatly wronged. They have been driven from their employments.
They have been dispossessed from their homes. They have been evicted from their
rented quarters. They have lost their children. They have been left to suffer
and die for lack of shelter, food, clothing and medicine.
"The wealth of these United
States and the working capital have been taken away from them and has either
been locked in the vaults of certain banks and the great corporations or
exported to foreign countries for the benefit of the foreign customers of these
banks and corporations. So far as the people of the United States are concerned,
the cupboard is bare.
"It is true that the
warehouses and coal yards and grain elevators are full, but these are padlocked,
and the great banks and corporations hold the keys.
"The sack of these United
States by the Fed is the greatest crime in history.
"Mr. Chairman, a serious
situation confronts the House of Representatives today. We are trustees of the
people and the rights of the people are being taken away from them. Through the
Fed the people are losing the rights guaranteed to them by the Constitution.
Their property has been taken from them without due process of law. Mr.
Chairman, common decency requires us to examine the public accounts of the
Government and see what crimes against the public welfare have been committed.
"What is needed here is a
return to the Constitution of these United States."
"The old struggle that was
fought out here in Jackson's time must be fought our over again. The independent
United States Treasury should be reestablished and the Government should keep
its own money under lock and key in the building the people provided for that
purpose.
"Asset currency, the devise
of the swindler, should be done away with. The Fed should be abolished and the
State boundaries should be respected. Bank reserves should be kept within the
boundaries of the States whose people own them, and this reserve money of the
people should be protected so that the International Bankers and acceptance
bankers and discount dealers cannot draw it away from them.
"The Fed should be repealed,
and the Fed Banks, having violated their charters, should be liquidated
immediately. Faithless Government officials who have violated their oaths of
office should be impeached and brought to trial.
"Unless this is done by us,
I predict, that the American people, outraged, pillaged, insulted and betrayed
as they are in their own land, will rise in their wrath, and will sweep the
money changers out of the temple.
"Mr. Chairman, the United
States is bankrupt: It has been bankrupted by the corrupt and dishonest Fed. It
has repudiated its debts to its own citizens. Its chief foreign creditor is
Great Britain, and a British bailiff has been at the White House and the British
Agents are in the United States Treasury making inventory arranging terms of
liquidations!
Great Britain, Partner in
Blackmail
"Mr. Chairman, the Fed has
offered to collect the British claims in full from the American public by
trickery and corruption, if Great Britain will help to conceal its crimes. The
British are shielding their agents, the Fed, because they do not wish that
system of robbery to be destroyed here. They wish it to continue for their
benefit! By means of it, Great Britain has become the financial mistress of the
world. She has regained the position she occupied before the World War.
"For several years she has
been a silent partner in the business of the Fed. Under threat of blackmail, or
by their bribery, or by their native treachery to the people of the United
States, the officials in charge of the Fed unwisely gave Great Britain immense
gold loans running into hundreds of millions of dollars. They did this against
the law! Those gold loans were not single transactions. They gave Great Britain
a borrowing power in the United States of billions. She squeezed billions out of
this Country by means of her control of the Fed.
"As soon as the Hoover
Moratorium was announced, Great Britain moved to consolidate her gains. After
the treacherous signing away of American rights at the 7-power conference at
London in July, 1931, which put the Fed under the control of the Bank of
International Settlements, Great Britain began to tighten the hangman's noose
around the neck of the United States.
"She abandoned the gold
standard and embarked on a campaign of buying up the claims of foreigners
against the Fed in all parts of the world. She has now sent her bailiff, Ramsey
MacDonald, here to get her war debt to this country canceled. But she has a club
in her hands! She has title to the gambling debts which the corrupt and
dishonest Fed incurred abroad.
"Ramsey MacDonald, the labor
party deserter, has come here to compel the President to sign on the dotted
line, and that is what Roosevelt is about to do! Roosevelt will endeavor to
conceal the nature of his action from the American people. But he will obey the
International Bankers and transfer the war debt that Great Britain should pay to
the American people, to the shoulders of the American taxpayers.
"Mr. Chairman, the bank
holiday in the several States was brought about by the corrupt and dishonest
Fed. These institutions manipulated money and credit, and caused the States to
order bank holidays.
"These holidays were
frame-ups! "They were dress rehearsals for the national bank holiday which
Franklin D. Roosevelt promised Sir Ramsey MacDonald that he would declare.
"There was no national
emergency here when Franklin D. Roosevelt took office excepting the bankruptcy
of the Fed- a bankruptcy which has been going on under cover for several years
and which has been concealed from the people so that the people would continue
to permit their bank deposits and their bank reserves and their gold and the
funds of the United States Treasury to be impounded in these bankrupt
institutions.
"Under cover, the predatory
International Bankers have been stealthily transferring the burden of the Fed
debts to the people's Treasury and to the people themselves. They the farms and
the homes of the United States to pay for their thievery! That is the only
national emergency that there has been here since the depression began.
"The week before the bank
holiday was declared in New York State, the deposits in the New York savings
banks were greater than the withdrawals. There were no runs on New York Banks.
There was no need of a bank holiday in New York, or of a national
holiday.
Roosevelt and the
International Bankers
"Roosevelt did what the
International Bankers ordered him to do!
"Do not deceive yourself,
Mr. Chairman, or permit yourself to be deceived by others into the belief that
Roosevelt's dictatorship is in any way intended to benefit the people of the
United States: he is preparing to sign on the dotted line! "He is preparing to
cancel the war debts by fraud!
"He is preparing to
internationalize this Country and to destroy our Constitution itself in order to
keep the Fed intact as a money institution for foreigners. "Mr. Chairman, I see
no reason why citizens of the United States should be terrorized into
surrendering their property to the International Bankers who own and control the
Fed. The statement that gold would be taken from its lawful owners if they did
not voluntarily surrender it, to private interests, show that there is an
anarchist in our Government.
"The statement that it is
necessary for the people to give their gold- the only real money- to the banks
in order to protect the currency, is a statement of calculated dishonesty!
"By his unlawful usurpation
of power on the night of March 5, 1933, and by his proclamation, which in my
opinion was in violation of the Constitution of the United States, Roosevelt
divorced the currency of the United States from gold, and the United States
currency is no longer protected by gold. It is therefore sheer dishonesty to say
that the people's gold is needed to protect the currency.
"Roosevelt ordered the
people to give their gold to private interests- that is, to banks, and he took
control of the banks so that all the gold and gold values in them, or given into
them, might be handed over to the predatory International Bankers who own and
control the Fed.
"Roosevelt cast his lot with
the usurers. "He agreed to save the corrupt and dishonest at the expense
of the people of the United States.
"He took advantage of the
people's confusion and weariness and spread the dragnet over the United States
to capture everything of value that was left in it. He made a great haul for the
International Bankers.
"The Prime Minister of
England came here for money! He came here to collect cash!
"He came here with Fed
Currency and other claims against the Fed which England had bought up in all
parts of the world. And he has presented them for redemption in gold.
"Mr. Chairman, I am in favor
of compelling the Fed to pay their own debts. I see no reason why the general
public should be forced to pay the gambling debts of the International
Bankers.
Roosevelt Seizes the
Gold
"By his action in closing
the banks of the United States, Roosevelt seized the gold value of forty
billions or more of bank deposits in the United States banks. Those deposits
were deposits of gold values. By his action he has rendered them payable to the
depositors in paper only, if payable at all, and the paper money he proposes to
pay out to bank depositors and to the people generally in lieu of their hard
earned gold values in itself, and being based on nothing into which the people
can convert it the said paper money is of negligible value altogether.
"It is the money of slaves,
not of free men. If the people of the United States permit it to be imposed upon
them at the will of their credit masters, the next step in their downward
progress will be their acceptance of orders on company stores for what they eat
and wear. Their case will be similar to that of starving coal miners. They, too,
will be paid with orders on Company stores for food and clothing, both of
indifferent quality and be forced to live in Company-owned houses from which
they may be evicted at the drop of a hat. More of them will be forced into
conscript labor camps under supervision.
"At noon on the 4th of
March, 1933, FDR with his hand on the Bible, took an oath to preserve, protect
and defend the Constitution of the U.S. At midnight on the 5th of March, 1933,
he confiscated the property of American citizens. He took the currency of the
United States standard of value. He repudiated the internal debt of the
Government to its own citizens. He destroyed the value of the American dollar.
He released, or endeavored to release, the Fed from their contractual liability
to redeem Fed currency in gold or lawful money on a parity with gold. He
depreciated the value of the national currency.
"The people of the U.S. are
now using unredeemable paper slips for money. The Treasury cannot redeem that
paper in gold or silver. The gold and silver of the Treasury has unlawfully been
given to the corrupt and dishonest Fed. And the Administration has since had the
effrontery to raid the country for more gold for the private interests by
telling our patriotic citizens that their gold is needed to protect the
currency.
"It is not being used to
protect the currency! It is being used to protect the corrupt and dishonest Fed.
"The directors of these institutions have committed criminal offense against the
United States Government, including the offense of making false entries on their
books, and the still more serious offense of unlawfully abstracting funds from
the United States Treasury! "Roosevelt's gold raid is intended to help them out
of the pit they dug for themselves when they gambled away the wealth and savings
of the American people.
Dictatorship
"The International Bankers
set up a dictatorship here because they wanted a dictator who would protect
them. They wanted a dictator who would protect them. They wanted a dictator who
would issue a proclamation giving the Fed an absolute and unconditional release
from their special currency in gold, or lawful money of any Fed Bank.
"Has Roosevelt relieved any
other class of debtors in this country from the necessity of paying their debts?
Has he made a proclamation telling the farmers that they need not pay their
mortgages? Has he made a proclamation to the effect that mothers of starving
children need not pay their milk bills? Has he made a proclamation relieving
householders from the necessity of paying rent?
Roosevelt's Two Kinds of
Laws
"Not he! He has issued one
kind of proclamation only, and that is a proclamation to relieve international
bankers and the foreign debtors of the United States Government.
"Mr. Chairman, the gold in
the banks of this country belongs to the American people who have paper money
contracts for it in the form of national currency. If the Fed cannot keep their
contracts with United States citizens to redeem their paper money in gold, or
lawful money, then the Fed must be taken over by the United States Government
and their officers must be put on trial.
"There must be a day of
reckoning. If the Fed have looted the Treasury so that the Treasury cannot
redeem the United States currency for which it is liable in gold, then the Fed
must be driven out of the Treasury.
"Mr. Chairman, a gold
certificate is a warehouse receipt for gold in the Treasury, and the man who has
a gold certificate is the actual owner of a corresponding amount of gold stacked
in the Treasury subject to his order.
"Now comes Roosevelt who
seeks to render the money of the United States worthless by unlawfully
declaring that it may No Longer be converted into gold at the will of the
holder.
"Roosevelt's next haul for
the International Bankers was the reduction in the pay of all Federal employees.
"Next in order are the
veterans of all wars, many of whom are aged and inform, and other sick and
disabled. These men had their lives adjusted for them by acts of Congress
determining the amounts of the pensions, and, while it is meant that every
citizen should sacrifice himself for the good of the United States, I see no
reason why those poor people, these aged Civil War Veterans and war widows and
half-starved veterans of the World War, should be compelled to give up their
pensions for the financial benefit of the International vultures who have looted
the Treasury, bankrupted the country and traitorously delivered the United
States to a foreign foe.
"There are many ways of
raising revenue that are better than that barbaric act of injustice.
"Why not collect from the
Fed the amount they owe the U.S. Treasury in interest on all the Fed currency
they have taken from the Government? That would put billions of dollars into the
U.S. Treasury.
"If FDR is as honest as he
pretends to be, he will have that done immediately. And in addition, why not
compel the Fed to disclose their profits and to pay the Government its share?
"Until this is done, it is
rank dishonesty to talk of maintaining the credit of the U.S. Government. "My
own salary as a member of Congress has been reduced, and while I am willing to
give my part of it that has been taken away from me to the U.S. Government, I
regret that the U.S. has suffered itself to be brought so low by the vultures
and crooks who are operating the roulette wheels and faro tables in the Fed,
that is now obliged to throw itself on the mercy of its legislators and
charwomen, its clerks, and it poor pensioners and to take money out of our
pockets to make good the defalcations of the International Bankers who were
placed in control of the Treasury and given the monopoly of U.S. Currency by the
misbegotten Fed. "I am well aware that the International Bankers who drive up to
the door of the United States Treasury in their limousines, look down with scorn
upon members of Congress because we work for so little, while they draw millions
a year. The difference is that we earn, or try to earn, what we get- and they
steal the greater part of their takings.
Enemies of the People
They Rob
"I do not like to see
vivisections performed on human beings. I do not like to see the American people
used for experimental purposes by the credit masters of the United States. They
predicted among themselves that they would be able to produce a condition here
in which American citizens would be completely humbled and left starving and
penniless in the streets.
"The fact that they made
that assertion while they were fomenting their conspiracy against the United
States that they like to see a human being, especially an American, stumbling
from hunger when he walks. "Something should be done about it, they say.
Five-cent meals, or something! "But FDR will not permit the House of
Representatives to investigate the condition of the Fed. FDR will not do that.
He has certain International Bankers to serve. They not look to him as the man
Higher Up who will protect them from the just wrath of an outraged people.
"The International Bankers
have always hated our pensioners. A man with a small pension is a ward of the
Government. He is not dependent upon them for a salary or wages. They cannot
control him. They do not like him. It gave them great pleasure, therefore, to
slash the veterans.
"But FDR will never do
anything to embarrass his financial supporters. He will cover up the crimes of
the Fed.
"Before he was elected, Mr.
Roosevelt advocated a return to the earlier practices of the Fed, thus admitting
its corruptness. The Democratic platform advocated a change in the personnel of
the Fed. These were campaign bait. As a prominent Democrat lately remarked to
me; "There is no new deal. The same old crowd is in control."
"The claims of foreign
creditors of the Fed have no validity in law. The foreign creditors were the
receivers- and the willing receivers- of stolen goods! They have received
through their banking fences immense amounts of currency, and that currency was
unlawfully taken from the United States Treasury by the Fed.
"England discovered the
irregularities of the Fed quite early in its operations and through fear,
apparently, the Fed have for years suffered themselves to be blackmailed and
dragooning England to share in the business of the Fed. "The Fed have unlawfully
taken many millions of dollars of the public credit of the United States and
have given it to foreign sellers on the security of the Debt paper of foreign
buyers in purely foreign transactions, and when the foreign buyers refused to
meet their obligations and the Fed saw no honest way of getting the stolen goods
back into their possession, they decided by control of the executive to make the
American people pay their losses!
Conspiracy of War
Debts
"They likewise entered into
a conspiracy to deprive the people of the U.S. of their title to the war debts
and not being able to do that in the way they intended, they are now engaged in
an effort to debase the American dollar so that foreign governments will have
their debts to this country cut in two, and then by means of other vicious
underhanded arrangements, they propose to remit the remainder.
"So far as the U.S. is
concerned, the gambling counters have no legal standing. The U.S. Treasury
cannot be compelled to make good the gambling ventures of the corrupt and
dishonest Fed. Still less should the bank deposits of the U.S. be used for that
purpose. Still less should the national currency have been made irredeemable in
gold so that the gold which was massed and stored to redeem the currency for
American citizens may be used to pay the gambling debts of the Fed for England's
benefit. "The American people should have their gold in their own possession
where it cannot be held under secret agreement for any foreign control bank, or
world bank, or foreign nation. Our own citizens have the prior claim to it. The
paper [money men] have in their possession deserves redemption far more than
U.S. currency and credit which was stolen from the U.S. Treasury and bootlegged
abroad.
"Why should the foreigners
be made preferred creditors of the bankrupt U.S.? Why should the U.S. be treated
as bankrupt at all? This Government has immense sums due it from the Fed. The
directors of these institutions are men of great wealth. Why should the guilty
escape the consequences of their misdeeds? Why should the people of these U.S.
surrender the value of their gold bank deposits to pay off the gambling debts of
these bankers? Why should Roosevelt promise foreigners that the U.S. will play
the part of a good neighbor, 'meeting its obligations'?
"Let the Fed meet their own
obligations.
"Every member of the Fed
should be compelled to disgorge, and every acceptance banker and every discount
corporation which has made illegal profits by means of public credit unlawfully
bootlegged out of the U.S. Treasury and hired out by the crooks and vultures of
the Fed should be compelled to disgorge.
Federal Reserve Pays No
Taxes
"Gambling debts due to
foreign receivers of stolen goods should not be paid by sacrificing our title to
our war debts, the assets of the U.S. Treasury- which belong to all the people
of the U.S. and which it is our duty to preserve inviolate in the people's
treasury.
"The U.S. Treasury cannot be
made liable for them. The Fed currency must be redeemed by the Fed banks or else
these Fed banks must be liquidated.
"We know from assertions
made here by the Hon. John N. Garner, Vice-President of the U.S. that there is a
condition in the [United States such] would cause American citizens, if they
knew what it was, to lose all confidence in their government.
"That is a condition that
Roosevelt will not have investigated. He has brought with him from Wall Street,
James Warburg, the son of Paul M. Warburg. Mr. Warburg, alien born, and the son
of an alien who did not become naturalized here until several years after this
Warburg's birth, is a son of a former partner of Kuhn, Loeb and Co., a grandson
of another partner, a nephew of a former partner, and a nephew of a present
partner.
"He holds no office in our
Government, but I am told that he is in daily attendance at the Treasury, and
that he has private quarters there! In other words, Mr. Chairman, Kuhn, Loeb and
Company now has control and occupy the U.S. Treasury.
Preferred Treatment for
Foreigners
"The text of the Executive
order which seems to place an embargo on shipments of gold permits the Secretary
of the Treasury, a former director of the corrupt, to issue licenses at his
discretion for the export of gold coin, or bullion, earmarked or held in trust
for a recognized foreign government or foreign central bank for international
settlement. Now, Mr. Chairman, if gold held in trust for those foreign
institutions may be sent to them, I see no reason why gold held in trust for
American as evidenced by their gold certificates and other currency issued by
the U.S. Government should not be paid to them. "I think that American citizens
should be entitled to treatment at least as good as that which the person is
extending to foreign governments, foreign central banks, and the bank of
International Settlements. I think a veteran of the world war, with a $20.00
gold certificate, is at least as much entitled to receive his own gold for it,
as any international banker in the city of New York or London.
"By the terms of this
executive order, gold may be exported if it is actually required, for the
fulfillment of any contract entered into prior to the date of this order by an
applicant who, in obedience to the executive order of April 5, 1933, has
delivered gold coin, gold bullion, or gold certificates. "This means that gold
may be exported to pay the obligations abroad of the Fed which were incurred
prior to the date of the order, namely, April 20, 1933.
"If a European Bank should
send 100,000,000 dollars in Fed currency to a bank in this country for
redemption, that bank could easily ship gold to Europe in exchange for that
currency. Such Fed currency would represent "contracts" entered into prior to
the date of the order. If the Bank of International Settlements or any other
foreign bank holding any of the present gambling debt paper of the Fed should
draw a draft for the settlement of such obligation, gold would be shopped to
them because the debt contract would have been entered into prior to the date of
order.
Crimes and
Criminals
"Mr. Speaker, I rise to a
question of constitutional privilege.
"Whereas, I charge. .
.Eugene Meyer, Roy A. Young, Edmund Platt, Eugene B. Black, Adolph Casper
Miller, Charles S. Hamlin, George R. James, Andrew W. Mellon, Ogden L. Mills,
William H. Woo W. Poole, J.F.T. O'Connor, members of the Federal Reserve Board;
F. H. Curtis, J.H. Chane, R.L. Austin, George De Camp, L.B. Williams, W.W.
Hoxton, Oscar Newton, E.M. Stevens, J.S. Wood, J.N. Payton, M.L. McClure, C.C.
Walsh, Isaac B. Newton, Federal Reserve Agents, jointly and severally, with
violations of the Constitution and laws of the United States, and whereas I
charge them with having taken funds from the U.S Treasury which were not
appropriated by the Congress of the United States, and I charge them with having
unlawfully taken over $80,000,000,000 from the U.S. Government in the year 1928,
the said unlawful taking consisting of the unlawful creation of claims against
the U.S. Treasury to the extent of over $80,000,000,000 in the year 1928; and I
charge them with similar thefts committed in 1929, 1930, 1931, 1932 and 1933,
and in years previous to 1928, amounting to billions of dollars; and
"Whereas I charge them,
jointly and severally with having unlawfully created claims against the U.S.
Treasury by unlawfully placing U.S. Government credit in specific amounts to the
credit of foreign governments and foreign central banks of issue; private
interests and commercial and private banks of the U.S. and foreign countries,
and branches of foreign banks doing business in the U.S., to the extent of
billions of dollars; and with having made unlawful contracts in the name of the
U.S. Government and the U.S. Treasury; and with having made false entries on
books of account; and
"Whereas I charge them
jointly and severally, with having taken Fed Notes from the U.S. Treasury and
with having put Fed Notes into circulation without obeying the mandatory
provision of the Fed Act which requires the Fed Board to fix an interest rate on
all issues of Fed Notes supplied to Fed Banks, the interest resulting therefrom
to be paid by the Fed Banks to the government of the U.S. for the use of the Fed
Notes, and I charge them of having defrauded the U.S. Government and the people
of the U.S. of billions of dollars by the commission of this crime, and
"Whereas I charge them,
jointly and severally, with having purchased U.S. Government securities with
U.S. Government credit unlawfully taken and with having sold the said U.S.
Government securities back to the people of the U.S. for gold or gold values and
with having again purchased U.S. Government securities with U.S. Government
credit unlawfully taken and with having again sold the said U.S. Government
security for gold or gold values, and I charge them with having defrauded the
U.S. Government and the people of the U.S. by this rotary process; and
"Whereas I charge them,
jointly and severally, with having unlawfully negotiated U.S. Government
securities, upon which the Government liability was extinguished, as collateral
security for Fed Notes and with having substituted such securities for gold
which was being held as collateral security for Fed Notes, and with having by
the process defrauded the U.S. Government and the people of the U.S., and I
charge them with the theft of all the gold and currency they obtained by this
process; and
"Whereas I charge them,
jointly and severally, with having unlawfully issued Fed currency on false,
worthless and fictitious acceptances and other circulating evidence of debt, and
with having made unlawful advances of Fed currency, and with having unlawfully
permitted renewals of acceptances and renewals of other circulating evidences of
debt, and with having permitted acceptance bankers and discount dealer
corporations and other private bankers to violate the banking laws of the U.S.;
and
"Whereas I charge them,
jointly and severally, with having conspired to have evidences of debt to the
extent of $1,000,000,000 artificially created at the end of February, 1933, and
early in March 1933, and with having made unlawful issues and advances of Fed
currency on the security of said artificially created evidences of debt for a
sinister purpose, and with having assisted in the execution of said sinister
purpose; and
"Whereas I charge them,
jointly and severally, with having brought about the repudiation of the currency
obligations of the Fed Banks to the people of the U.S. and with having conspired
to obtain a release for the Fed Board and the Fed Banks from their contractual
liability to redeem all Fed currency in gold or lawful money at the Fed Bank and
with having defrauded the holders of Fed currency, and with having conspired to
have the debts and losses of the Fed Board and the Fed Banks unlawfully
transferred to the Government and the people of the U.S., and
"Whereas I charge them,
jointly and severally, with having unlawfully substituted Fed currency and other
irredeemable paper currency for gold in the hands of the people after the
decision to repudiate the Fed currency and the national currency was made known
to them, and with thus having obtained money under false pretenses; and
"Whereas I charge them,
jointly and severally, with having brought about a repudiation of the notes of
the U.S. in order that the gold value of the said currency might be given to
private interests, foreign governments, foreign central banks of issues, and the
Bank of International Settlements, and the people of the U.S. to be left without
gold or lawful money and with no currency other that a paper currency
irredeemable in gold, and I charge them with having done this for the benefit of
private interests, foreign governments, foreign central banks of issue, and the
bank of International Settlements; and
"Whereas I charge them,
jointly and severally, with conniving with the Edge Law banks, and other Edge
Law institutions, accepting banks, and discount corporations, foreign central
banks of issue, foreign commercial banks, foreign corporations, and foreign
individuals with funds unlawfully taken from the U.S. Treasury; and I charge
them with having unlawfully permitted and made possible 'new financing' for
foreigners at the expense of the U.S. Treasury to the extent of billions of
dollars and with having unlawfully permitted and made possible the bringing into
the United States of immense quantities of foreign securities, created in
foreign countries for export to the U.S. and with having unlawfully permitted
the said foreign securities to be imported into the U.S. instead of gold, which
was lawfully due to the U.S. on trade balances and otherwise, and with having
lawfully permitted and facilitated the sale of the said foreign securities in
the U.S., and
"Whereas I charge them,
jointly and severally, with having unlawfully exported U.S. coins and currency
for a sinister purpose, and with having deprived the people of the U.S. of their
lawful medium of exchange, and I charge them with having arbitrarily and
unlawfully reduced the amount of money and currency in circulation in the U.S.
to the lowest rate per capita in the history of the Government, so that the
great mass of the people have been left without a sufficient medium of exchange,
and I charge them with concealment and evasion in refusing to make known the
amount of U.S. money in coins and paper currency exported and the amount
remaining in the U.S. as a result of which refusal the Congress of the U.S. is
unable to ascertain where the U.S. coins and issues of currency are at the
present time, and what amount of U.S. currency is now held abroad; and
"Whereas I charge them,
jointly and severally, with having arbitrarily and unlawfully raised and lowered
the rates of money and with having arbitrarily increased and diminished the
volume of currency in circulation for the benefit of private interests at the
expense of the Government and the people of the U.S. and with having unlawfully
manipulated money rates, wages, salaries and property values both real and
personal, in the U.S. by unlawful operations in the open discount market and by
resale and repurchase agreements unsanctioned by law, and
"Whereas I charge them
jointly and severally, with having brought about the decline in prices on the
New York Stock Exchange and other exchanges in October, 1929, by unlawful
manipulation of money rates and the volume of U.S. money and currency in
circulation: by theft of funds from the U.S. Treasury by gambling in acceptances
and U.S. Government securities; by service rendered to foreign and domestic
speculators and politicians, and by unlawful sale of U.S. gold reserves abroad,
and "Whereas the unconstitutional inflation law imbedded in the
so-called Farm Relief Act by which the Fed Banks are given permission to buy
U.S. Government securities to the extent of $3,000,000,000 and to drew forth
currency from the people's Treasury to the extent of $3,000,000,000 is likely to
result in connivance on the part of said accused with others in the purchase by
the Fed of the U.S. Government securities to the extent of $3,000,000,000 with
U.S. Government's own credit unlawfully taken, it being obvious that the Fed do
no not intend to pay anything of value to the U.S. Government for the said U.S.
Government securities no provision for payment in gold or lawful money appearing
in the so-called Farm Relief bill- and the U.S. Government will thus be placed
in a position of conferring a gift of $3,000,000,000 in the U.S. Government
securities on the Fed to enable them to pay more on their bad debts to foreign
governments, foreign central banks of issue, private interests, and private and
commercial banks, both foreign and domestic, and the Bank of International
Settlements, and
"Whereas the U.S. Government
will thus go into debt to the extent of $3,000,000,000 and will then have an
additional claim of $3,000,000,000 in currency unlawfully created against it and
whereas no private interest should be permitted to buy U.S. Government
securities with the Government's own credit unlawfully taken and whereas
currency should not be issued for the benefit of said private interest or any
interests on U.S. Government securities so acquired, and whereas it has been
publicly stated and not denied that the inflation amendment of the Farm Relief
Act is the matter of benefit which was secured by Ramsey MacDonald, the Prime
Minister of Great Britain, upon the occasion of his latest visit to the U.S.
Treasury, and whereas there is grave danger that the accused will employ the
provision creating U.S. Government securities to the extent of $3,000,000,000
and three millions in currency to be issuable thereupon for the benefit of
themselves and their foreign principals, and that they will convert the currency
so obtained to the uses of Great Britain by secret arrangements with the Bank of
England of which they are the agents, and for which they maintain an account and
perform services at the expense of the U.S. Treasury, and that they will
likewise confer benefits upon the Bank of International Settlements for which
they maintain an account and perform services at the expense of the U.S.
Treasury; and
"Whereas I charge them,
jointly and severally, with having concealed the insolvency of the Fed and with
having failed to report the insolvency of the Fed to the Congress and with
having conspired to have the said insolvent institutions continue in operation,
and with having permitted the said insolvent institutions to receive U.S.
Government funds and other deposits, and with having permitted them to exercise
control over the gold reserves of the U.S. and with having permitted them to
transfer upward of $100,000,000,000 of their debts and losses to the general
public and the Government of the U.S., and with having permitted foreign debts
of the Fed to be paid with the property, the savings, the wages, and the
salaries of the people of the U.S. and with the farms and the homes of the
American people, and whereas I charge them with forcing the bad debts of the Fed
upon the general public covertly and dishonestly and and with taking the general
wealth and savings of the people of the U.S. under false pretenses, to pay the
debts of the Fed to foreigners; and
"Whereas I charge them,
jointly and severally, with violations of the Fed Act and other laws; with
maladministration of the h evasions of the Fed Law and other laws; and with
having unlawfully failed to report violations of law on the part of the Fed
Banks which, if known, would have caused the Fed Banks to lose their charters,
and
"Whereas I charge them,
jointly and severally, with failure to protect and maintain the gold reserves
and the gold stock and gold coinage of the U.S. and with having sold the gold
reserves of the U.S to foreign Governments, foreign central banks of issue,
foreign commercial and private banks, and other foreign institutions and
individuals at a profit to themselves, and I charge them with having sold gold
reserves of the U.S. so that between 1924 and 1928 the U.S. gained no gold on
net account but suffered a decline in its percentage of central gold reserves
from the 45.9 percent in 1924 to 37.5 percent in 1928 notwithstanding the fact
that the U.S. had a favorable balance of trade throughout that period, and
"Whereas I charge them,
jointly and severally, with having conspired to concentrate U.S. Government
securities and thus the national debt of the U.S. in the hands of foreigners and
international money lenders and with having conspired to transfer to foreigners
and international money lenders title to and control of the financial resources
of the U.S.; and
"Whereas I charge them,
jointly and severally, with having fictitiously paid installments on the
national debt with Government credit unlawfully taken; and
"Whereas I charge them,
jointly and severally, with the loss of the U.S. Government funds entrusted to
their care; and
"Whereas I charge them,
jointly and severally, with having destroyed independent banks in the U.S. and
with having thereby caused losses amounting to billions of dollars to the said
banks, and to the general public of the U.S., and
"Whereas I charge them,
jointly and severally, with the failure to furnish true reports of the business
operations and the true conditions of the Fed to the Congress and the people,
and having furnished false and misleading reports to the congress of the U.S.,
and
"Whereas I charge them,
jointly and severally, with having published false and misleading propaganda
intended to deceive the American people and to cause the U.S. to lose its
independence; and
"Whereas I charge them,
jointly and severally, with unlawfully allowing Great Britain to share in the
profits of the Fed at the expense of the Government and the people of the U.S.;
and
"Whereas I charge them,
jointly and severally, with having entered into secret agreements and illegal
transactions with Montague Norman, Governor of the Bank of England; and
"Whereas I charge them,
jointly and severally, with swindling the U.S. Treasury and the people of the
U.S. in pretending to have received payment from Great Britain of the amount due
on the British ware debt to the U.S. in December, 1932; and
"Whereas I charge them,
jointly and severally, with having conspired with their foreign principals and
others to defraud the U.S. Government and to prevent the people of the U.S. from
receiving payment of the war debts due to the U.S. from foreign nations; and
"Whereas I charge them,
jointly and severally, with having robbed the U.S Government and the people of
the U.S. by their theft and sale of the gold reserves of the U.S. and other
unlawful transactions created a deficit in the U.S. Treasury, which has
necessitated to a large extent the destruction of our national defense and the
reduction of the U.S. Army and the U.S. Navy and other branches of the national
defense; and
"Whereas I charge them,
jointly and severally, of having reduced the U.S. from a first class power to
one that is dependent, and with having reduced the U.S. from a rich and powerful
nation to one that is internationally poor; and
"Whereas I charge them,
jointly and severally, with the crime of having treasonable conspired and acted
against the peace and security of the U.S. and with having treasonable conspired
to destroy constitutional Government in the U.S.
"Resolve, That the Committee
on the Judiciary is authorized and directed as a whole or by subcommittee, to
investigate the official conduct of the Fed agents to determine whether, in the
opinion of the said committee, they have been guilty of any high crime or
misdemeanor which in the contemplation the Constitution requires the
interposition of the Constitutional powers of the House. Such Committee shall
report its finding to the House, together with such resolution or resolutions of
impeachment or other recommendations as it deems proper.
"For the purpose of this
resolution the Committee is authorized to sit and act during the present
Congress at such times and places in the District of Columbia or elsewhere,
whether or not the House is sitting, has recessed or has adjourned, to hold such
clerical, stenographic, and other assistants, to require of such witnesses and
the production of such books, papers, and documents, to take such testimony, to
have such printing and binding done, and to make such expenditures as it deems
necessary."
After some discussion and
upon the motion of Mr. Byrns, the resolution and charge was referred to the
Committee on the Judiciary.
"Attacks on McFadden's
Life Reported"
Commenting on Former
Congressman Louis T. McFaddens's "heart-failure sudden-death" on Oct. 3, 1936,
after a "dose" of "intestinal flu," "Pelley's Weekly" of Oct. 14 said:
Now that this sterling
American patriot has made the Passing, it can be revealed that not long
after his public utterance against the encroaching powers of Judah, it
became known among his intimates that he had suffered two attacks against
his life. The first attack came in the form of two revolver shots fired at
him from ambush as he was alighting from a cab in front of one of the
Capital hotels. Fortunately both shots missed him, the bullets burying
themselves in the structure of the cab.
He became violently ill
after partaking of food at a political banquet at Washington. His life was
only saved from what was subsequently announced as a poisoning by the
presence of a physician friend at the banquet, who at once procured a
stomach pump and subjected the Congressman to emergency
treatment."
Robert Edward Edmondson
(Publicist-Economist) Educate Yourself.
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