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 sough 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 draughts man 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.
Money for the Scottish Distillers
"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 ws
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."
/s/ Robert Edward Edmondson
(Publicist-Economist)
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President
Andrew Jackson stated in reference to the bankers at the state of his
administration:
"You
are a den of vipers and thieves.
I
intend to rout you out, and by the Eternal God, I will rout you out."
By : Charleston Voice
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