Lincoln Money Martyred. By Dr. R. E. Search. 1935. Image recreated by Andy Chalkley 2017. Creative Commons Attribute




PRICE $2.00


Copyright, 1935

Lincoln Publishing Company

Medical Arts Building

Seattle, Washington


Chapter 1The Search for the Cause of Depressions Begins5
Chapter 2The Birth of Money8
The Birth of Usury9
The Cause of Pogroms and Most Revolutions10
Chapter 3The Abuse of the Use of Money12
History of Money15
Ancient Greece16
Jesus and the Money Changers23
The Early Protestant Leaders on Usury27
In Early England27
Chapter 4A History of Money and Banking in Early Europe28
Bank of Venice29
The Bank of Genoa29
The Bank of Amsterdam30
The Bank of Hamburg30
Usury the Persistent Cause of Sin and Crime32
Chapter 5History of the Origin of the Bank of England34
The English Banking System Founded35
Chapter 6The English or Money Changers’ System Started in the United States36
Alexander Hamilton37
Chapter 7The Birth of Lincoln Full Legal Tender Money44
Lincoln’s Letter to Colonel Taylor45
Chapter 8The Foreign Money Changer Kills “America’s Greatest Blessing”46
The Exception Clause46
The Hazard Circular47
Chapter 9The Money Changers Get Another Bank Law50
The National Banking Act51
Rothschild’s Letters51
Senator Sherman Tells Rothschild About Bank Law51
Ikleheimer’s Letter52
Chapter 10The National Banks Established55
What Secretary Chase Said of National Bank Law56
Lincoln’s Gettysburg Address.57
Lincoln’s Letter to Mrs. Bixby58
Chapter 11The Civil War Ends58
The Money Changers Start Action Again. Greenbacks Destroyed.59
The Effect of Greenback Destruction60
The Credit Strengthening Act64
Chapter 12The Gold Standard Established and Silver Coinage Killed — or “The Crime of '73”65
Luckenbach’s Letters66
The Demonetizing Act71
Chapter 13The People Clamor for More Money72
The Money Changers Give Their Orders73
A Bank Letter73
Chapter 14The Money Changers Order a Panic74
Another Bank Letter74
Chapter 15Another Valiant Lindbergh76
From Lindbergh’s Book77
Chapter 16The Money Changers Add Another Link to the Golden Chain79
Chapter 17The Federal Reserve81
Privileges of the Federal Reserve Bank83
Whose Money Is It?84
Reserve Notes Redeemable in Treasury Gold84
United States Gold Notes Accepted as Gold85
Chapter 18The World War86
Chapter 19“American Peasants”88
Chapter 20The Money Changers Take the United States to the Cleaners89
Professor Kemmerer Tells How to “Deflate"90
A “Deflation Party”91
$520,000,000 Deflation in 192092
40,000 Commercial Failures Estimated in 193292
“Interest” and How It Works93
Chapter 21The Gold Bill95
Speech of Hon. Lewis T. McFadden96
Morgenthau and the “Blue Chips”102
“Sound Money”107
Chapter 22The Research Finished109
Chapter 23The Virginia Plantation112
Chapter 24The Stranger’s Story114
Lincoln’s Interview with Schyler Colfax128
Chapter 25The Return to the Old Plantation131
Chapter 26The Stranger Concludes His Story134
Chapter 27The “Awakening”136
Chapter 28Conclusion138
McGeer’s Speech143
Editorial of “Daily Province” of Vancouver, B. C145
The Super-World Government Chart146
Notes on “Chart”147
What Is Money?149
“Constitutional Money”152


The author wishes the reader to understand from the beginning that only possibly a comparatively few of our American bankers are to be placed in the class of “Money Changers” hereafter spoken of, and can only be censured for their part in consciously or unconsciously perpetuating the devastating, unchristian banking system that has been fastened upon us.

The American bankers have taken the system as it was, feeling it was at least legal, and have used it to work out their own economic problems and it is likely a regretable fact that a very few of them ever gave their “business” very much philosophical thought, or speculated on the eventual effect of the system upon the affairs of their nation, and consequently nearly one-half of their number have gone down to bankruptcy and disgrace in the last fifteen years, caught with the rest of us in the awful whirlpool of money racketeering and manipulation that is drawing the whole civilized world into its vortex.

They, of course, knew that for each dollar in money deposited in their bank, they could loan out ten dollars worth of their checks, or credit, or bookkeeping money, and in return demand in payment MONEY, and until recently, gold money at that. The disastrous end of such a vile system is inevitable now, as it has ever been down through the centuries; the same that caused Oliver Goldsmith to write:

“Ill fares the land, to hastening ills a prey.

Where wealth accumulates and men decay.”

So we should not be surprised when we find that when the government of old Egypt fell, four per cent of the people owned all the wealth.

When the Babylonian civilization collapsed, three per cent of the people owned all the wealth.

When old Persia went down to destruction two per cent of the people owned all the wealth.

When ancient Greece went down to ruin one-half of one per cent of the people owned all the wealth.

When the Roman Empire fell by the wayside, two thousand people owned the wealth of the civilized world and then followed the Dark Ages from which they did not recover until wealth was scattered by continuous wars, a great share of it being therein destroyed.

It is said at this time that less than two (2) per cent of the people control ninety (90) per cent of the wealth of America.

The foregoing disasters as well as our own present condition were all brought about by the same thing; namely, the power in the hands of individuals or private groups to issue and control the value and volume of the money of the nation. This right, of course, being obtained by bribery, corruption, trickery, treason, murder, etc.

Will our present citizens of America carry on in hope and ignorance and let our nation collapse as did the above mentioned, and also Russia, or will they arouse and inform themselves of the true conditions and stamp out the merciless system that always brings destruction, and do as Lincoln intended doing, establish a really equitable monetary system and an economic security for all?

The author hopefully dedicates this volume as a help to America to inform herself on the subject of money, its uses and abuses.

It has been necessary for obvious reasons, to relate in Chapters 23, 24, 25, 26, 27 of this narrative the details concerning, and surrounding the death of President Lincoln in the form of fiction, as many scattered factors, happenings and writings, must be connected up to make a completed whole; and it is hoped the end to be obtained may justify the means, namely — the arousing of the interest of our people here in Lincoln’s homeland, to a point where they will individually and collectively inform themselves of the true state of affairs in this their sorely beleagued nation, and correct the unholy practices that have brought about such detestable conditions.

It is hoped that America may soon be able to supply such a remedy as will make it forever impossible for any individual or group to so manipulate our national affairs; and by correctly applying the rugged principles of our great Constitution, so that our vast wealth of natural resources shall be justly distributed to each and all, and every man, woman, and child shall have a “Fully Guaranteed Economic Security from Birth to Death.”

This should bring about a condition where no one would need to worry or “think” of the necessities of life, which would then conform to the teachings of Him who was the promulgator of the principles on which our Constitution and Government was established, when He said, “Take no thought for your life, what ye shall drink; or yet for your body, what ye shall put on.”

In this, the newer version of the dastardly murder of America’s best loved and greatest citizen, friend and champion of the common people may be found not only the story of the greatest crime ever committed against the people of this great commonwealth, but the knowledge that it was the forging of the most important link in the chain which greed, special privilege, and money manipulation have fastened around the throats of all Americans, and bound us in a limitless morass of bonded debt and mortgages.

Without his premature death the future actions of the immortal Lincoln might well have brought about the revision or repeal of the vicious laws forced upon him in the emergency of civil war; and the establishment of a real National Currency System, based on a full legal tender “Greenback” which he had called, “America’s Greatest Blessing,” that would have enabled our beloved country to forge ahead to a brilliant future, a great united nation of happy people for which he worked so faithfully to the last, and to have us established as he would have wished us to be — FOREVER FREE.

Chapter 1.

The Search for the Cause of Depressions Begins

IT WAS in the spring of 1933, that I had gone to Washington, D. C, for a number of months to do research work, and to be in close touch with the daily political happenings and to avail myself of the wealth of information to be had in the Congressional Library, which was especially rich in the material needed for a book I was planning on the subject of economics, banking, and the money question.

That was the fourth year of the great world depression, which, up to then, had caused such financial conditions as the world had never before experienced. Numerous business failures of all kinds, increasing in volume as time went on; hundreds of thousands of farms and homes lost by foreclosure of mortgages; thousands of banks, trust companies, and savings and loan companies forced to close their doors, with all the misery and losses to the masses that this entailed.

Many were the scandals uncovered by the closing of some of these banks; the looting of practically all ready assets by officers of the institutions. Some were allowed to go free, others were given various prison terms and fines, but public confidence in banking was generally badly shaken and private hoarding became more general. Safety deposit boxes were in great demand and in many instances male attendants had to be put on at the safety vaults to help handle the heavy deposit boxes.

The outlook was bad, indeed, and prophecies of a possible revolution were heard on every hand.

Much gold had been exported to Europe, and especially to France, with the largest military establishment. The “big boys” with the gold felt it would be safest there in case of trouble.

The “Happiness Boys,” who in the early months of 1929, had glibly told us that this was a “New Era” of prosperity and never again would we have panics and bad times, and who, in the latter part of 1929 had tried hard to “laugh off” the idea that we could ever have much of a panic or depression, assured us the Federal Reserve System had been erected for that special purpose, and that a very few months would see things bounding forward again.

When those months had passed, conditions were gradually getting worse, they having been aided and reinforced by the higher-ups in the financial world as well as high government officials who had assured us that “Prosperity” was now “just around the corner,” and then had for the next few years been extremely busy, with dodging us and the bill collectors, between other and still other assurances, excuses, etc., while they, themselves, were hunting for “the corner.”

Finally, by this time, most of the people had begun to wake up to the fact that there really had been a corner, but it had been a “corner” on money, and that maybe prosperity was just around that comer after all; how far around, however, no one seemed to know.

Roosevelt and the Democratic Party in general, had been given a large plurality in their promised “New Deal” with the Reconstruction Finance Corporation, relief to banks, railroads, etc.

Independent students had been trying for many moons to find some real facts on the subject of money and finance, for a comprehensive story, but none worth while had broken into print as yet.

Especially I had a particular interest in the subject, for in the heyday of the boom of 1929, I had been persuaded by some of my banking friends to convert most of my savings (which I had carefully put into government bonds and like security) into cash and invest it in a “real-sure fire” proposition that would make me supposedly independent for life. They explained, of course, that this being an absolutely “new era,” one of continuous prosperity, I stood no chance to lose; and besides that. I was getting in on the “ground floor.” Well, when the “new era” ended in October, 1929, our “sure thing,” of course, collapsed with all the rest, and I awakened to find that, although I had been in on the “ground floor” another crowd had been let into the “basement,” and they had made away with all the money and assets.

It had been done legally, of course! Someone seemed to have had a law made especially to fit that kind of a case. Anyway it seemed that way to me, who had not been let in with the basement crowd.

I right then and there determined to begin an investigation and research into whether it was possible that the “Happiness Boys” and the “money interests,” whoever they might be, had built up like situations all over the country and taken the whole country to the “cleaners.”

I reasoned that the losses had been so general all over the country that a good long article or book on the subject might be of real service to the country in awakening a wider interest in such proceedings, and that if enough genuine exposure could be made, that adequate laws might be passed to control activities in the future that would prevent a recurrence of this “Boom,” “Crash,” “Depression” business.

The research work has been practically completed and I had unearthed some of the most astounding information imaginable. The trail had led me back through the pages of our own history of America, through the early English history, the French Revolution, to Rome, Greece, and even back to the Old Testament times.

Once started on the research there seemed no stopping place, if I wanted to get right down to the bottom of the situation. The deeper I dug into the maze of information and history, the more clearly it could be seen that not only our America, but all the civilized countries of the world were up against a situation so grave that none but the most sound and basic matter and con-elusions could be used.

I also became convinced that panics and depressions were always manifested in mainly one way — namely, a shortage of money or a medium of exchange in circulation. Why? What was money for? Why money at all? If we must use money, why could we not always have a sufficient supply? What made the shortage? Was there something wrong with our money or our system of handling it? These and other allied questions I decided, must be answered if I were to come to a basic analysis of the demoralizing and devastating depression.

Many were the records of sordid and sorrowful tragedies of former panics, depressions, business failures, the growth of large “business” institutions over the charred and broken ruins of the many smaller ones; the rise, disgrace, and fall of many business and political figures of State, National, and International renown; I was led through the trials and persecutions of the early Christians; through the court of Pilate, to the cross on Calvary; and on back into the early beginning of the Tribal nations.

I had found, to my own enlightenment and conviction, that the desire for money, together with the power it carries with its possession and its uses and abuses, had been at the very foundations of most of the world’s greatest crimes, tragedies, and murders of many ages and nations, causing the fall of one civilization after another, right down to the present time. I had also become convinced that some vital principle must be corrected before we could ever be rid of crimes, wars, panics, etc., and I had, therefore, come to feel that the basic faults might well be looked for in times when Individual Property Rights were first recognized and accepted as an institution, and money was first used as a medium of trading, or exchange of goods, labor and services between people.

Chapter II.

The Birth of Money

IN THE early beginnings, of course, only pretty and rare rocks, and shells, and certain animals’ teeth and claws were used as money or a medium of exchange. Later iron pieces and knives, and still later silver and gold were used. These metals, of course, were much harder to obtain. In the first place, it took much work and hardship to mine and work them into suitable pieces of money, which still, tended to enhance the value and attractiveness of the tokens which were a medium by which all “things” and labor could be obtained.

It seems that by this time, in the lives of the Nations, the idea had become fixed in the minds of certain types of people, to the effect that the possession of money in quantity gave the possessor certain power, station, and prestige, and the command of men, no matter in what way they became possessed of the money. As money was exchangeable for all things and labor, men who possessed money could, of course, command things in direct proportion to the amount of money they were able to accumulate. Money, you see, had even then taken on a fictitious value and significance, far beyond the original purpose for which it was intended, namely — just an easily carried and cared for medium in the exchange of property and labor.

As this fictitious, distorted, but definite idea of the value and use of, and the possession of money became more set in the minds of this certain type of people, the more they would concentrate on ways and means, either fair or foul, to obtain it, and resort to all kinds of practices of attaining their ends.

This knowledge of money along with the tricks and practices of obtaining it and keeping it was, it seemed, handed down from father to son (of the money changer class) each generation adding its bit of learning and sharp dealings, and handing it on to descendants. Now this type of individual or class would, as time wore on finally become “money minded” as it were, and very adept, in the art of acquiring, accumulating and keeping money.

The exact time or place of the starting of the practice of manipulating money is rather obscure and uncertain; but it is more than likely that it began at a time when some community was in the throes of a great crop shortage, by continued drought, and famine. At such a time people with much money found that, while they could not eat the money, they could command men with it, and had been able to buy and store away for their use vastly more than their just share of foodstuffs, and furthermore, that they could trade their gold to other nations for much needed foods and stores of goods.

Although there seems to be no record left of the beginning of the practice, it seems most probable in view of what we now know of the present ways of moneyed men, that it was during one of these times of famine and stress that certain individuals with much money conceived the idea of trading this gold to other nations for foodstuffs and in turn selling the foodstuffs to their own fellow countrymen, in their dire need, at a great profit to themselves.

This foreign trading becoming extremely hazardous, it followed that the men with money, not wanting to risk their own lives, would hire men to go and do this trading for them, paying them for their time and expense, and adding this to the cost of the goods, to be passed on to the consumer to pay, plus the profit. Later on these men hired to do the trading, became traders in their own right; and finally the most vicious and diabolical curse of all the practices growing out of the use and abuse of money was to result from this trading in time of famine and stress.

That practice was, simply, that the man with money loaned the use of his money to the traders in whom he had confidence, for them to do the trading in foreign countries, and to sell the foodstuff’s at home, for which he, the man with the money, would get a certain part or per cent of the profits. In other words, he could sit at home, in ease, safety and comfort, and let the use of his money bring him more money without any effort on his part whatever, except possibly the worry as to whether he would get his money back safely.

This practice once started, was, of course, quickly expanded into lending money to various persons in need, or in time of stress, for a stated time, with an added amount to be returned with the money loaned.


This practice, then, the abuse of the use of money, which we know today as interest, but which in the beginning was called usury, was destined to become the greatest curse of the civilized world, and the history of its course of practice down through the ages traces the rise, decay, and fall of one civilization after another.

Through the centuries, until the last one hundred and fifty years or so, the practice of this most vicious and destructive procedure or system of dealing in money, the medium of exchange, or as called by some, the “Life Blood of the Nation,” has been very largely confined to a certain type of mind, which deals practically exclusively in the realm of the material, that is, a mind that is only interested in selfish accumulation of money, “things,” or property and the domination of others, and not in the principle of live and let live, a spirit of fair play, or an equal chance for all, but always seeking an advantage of the other fellow.

From the very earliest records, we find this money complex type of mind constantly present, and as it is an expression of a selfish trait, in that it deals most exclusively in the realm of the material world, or of things, and is strictly an economic application of mind, it is used to enable a person or group to use these practices to take advantage of others among whom they are living at the time.

It follows then, as a reasonable presumption, that this most vicious of human practices must have been and was handed down from father to son as a priceless heritage of knowledge adverse to the rest of humanity, to be used and guarded as a sacred heritage.

The Cause of Pogroms and Most Revolutions

THE creed of this type of person or people has always been the same, very simple, but most religiously adhered to and practiced. In a few words it is as follows: Buy low — sell high — accumulate money — lend the money at high usury, or interest, to the people in need and distress; eventually getting complete control of nearly the entire money of the country; then hoarding the money; causing artificial shortage of it and consequently higher interest rates; in turn forcing prices of commodities and wages to a low point, where none but men with money could survive for long.

Suffering and starvation would eventually breed rioting and finally a great uprising would occur, ending in either one of two ways: the mob or rioters would strike directly at the money lenders, or against the Government.

First: When the country was small and the amount of money in circulation was very limited, it was more easily and more quickly “cornered” by the money lenders and the attention of the people easily directed to the real cause of the money shortage, for, of course, the people would know who they could get money from, and the rioting was consequently launched directly at the money lenders.

Second: If the country was large and if the money lenders’ control had gone far enough for them to corrupt legislators and gain control of the government, then the uprising would be directed against the government; and, that overthrown, the money and lands would be re-distributed to the people again. This of course, with a great loss of life due to the money lenders being in control of the army and law enforcement officers, and directing them against the people as long as possible.

When the uprising occurred against the money lenders themselves, it was called a Pogrom, and a great massacre of the money-lending classes would occur along with great numbers of their more or less innocent relations. These great massacres would end in the bulk of the money of the country being taken back by the people, from the money lenders, or usurers, as they

were then called, and the country would after a time quiet down again to the regular tempo of existence; money, the life blood of the country, having been returned to its natural function — that of a free, floating medium of exchange for labor and commodities.

When the uprisings occurred against the Government, and it was overthrown, and a different set of officials installed who, for the time being at least, were not controlled by the usurers, that would be called a revolution.

The intervals of time between these uprisings, pogroms, or revolutions would vary according to the size of the country, the amount of money in the country, and the number of moneychangers or lenders operating at the time, and also upon the rate of interest or usury they chose or could “get away with.”

The interest rate and the ease of operations of the money lenders was again varied by the extent they were able to get into the good graces of the rulers of the country by loans to them personally, or gifts of money, or a share of usurious interest obtained from the people.

All of these things had a direct bearing upon the time interval between pogroms or revolutions. If the usury rate was allowed to be high, it would not take so long to “corner” the money and have all the property mortgaged. If it was low, it would take longer.

One of the most peculiar phases of the money “cornering” craze of the money changers is that generally speaking their minds run only to getting, lending, manipulating and keeping money. Unless they can get a large usury rate, they never seem to realize the seriousness of the situation or the condition they are creating, nor do they care. Once in possession of the money they hang on until they die or are killed or it has been otherwise taken from them.

This thing has happened innumerable times down through the centuries, but always with the same ending. It would seem that they would learn that in the end that usury, like other crimes, does not pay; but they never have done so. In times of panic or money shortage, when they become the victims of mobs, they are always loud in their wailings that they are being persecuted.

It is also said that many times when the money lenders have seen a crisis in money matters approaching, they would, by connection with trade or through communication with their own kind of people in other countries, bring about a war to detract attention from the money conditions. Thus they would have the government borrow money (from them) to finance war. The money crisis would be averted by the government borrowing and putting money into circulation for war materials and other expenses. This was probably the forerunner of our present government bond indebtedness, as it has all been conjured up by the same class of people in various ways.

Now, what does this loaning of money at usury do? And why was it considered a great evil by all the best minds of all times, including those of the churches, until very recently — say the last hundred and fifty years?

In the first place we must remember that money came into use solely for the purpose of having “a something” easily cared for, that would not easily deteriorate, that all could agree to exchange their labor or goods or commodities for; merely a medium of exchange, a convenience created by law; either by common law, of common consent and use, or by statutary law. But when money is loaned for interest or usury or for increase, it is thereby taken out of its normal, natural use as a medium of exchange and becomes a commodity to be trafficked in and a profit made out of it, making a slave of it, to gain an unearned profit for its owner, making its possession desirable, and attractive in an unnatural way.

Chapter 3.

The Abuse of the Use of Money

LET us turn back through the pages of history, as shown by research, and see what the best minds had to say about the practice of usury and, tracing its usage down through the centuries, see just what the “abuse” of the use of money, namely — the loaning of it at interest — has done for humanity; and see what part it has had in this, the worst depression or panic of all times, and decide, if we can, just where our greatest mistake was made and just why it was not corrected in time, but allowed to go on to such drastic conclusion.

Beginning way back in the Old Testament days, we find the following items concerning the taking of usury, and the teachings against it, with the penalties therefor.

There is practically nothing obtainable worthy of note of the financial history of Babylonia, Egypt, Assyria, India, China and even Phonecia, a manufacturing and commercial nation. But all of those nations, still existing, have a very low volume of currency or money. They are known as degraded nations.


— From “What Is Coming,” by L. E. Stowe. We have nothing of finance until we reach Solomon’s time. Solomon obtained much wealth from commerce, to which he gave much encouragement, and for several years kept his people at work on public works. Then he stopped, and only looked after the pleasures of Solomon — aping the arrogant styles of foreigners, taking wives from among foreigners and aping their customs to please them. He demonetized silver, thus reducing the volume of money and brought about distress and a rebellion headed by Jeroboam. It is said that this distress and dissatisfaction was brought on by excessive taxation. People do not mind taxation when money is plentiful. Then there is prosperity and they can afford to be taxed. But this trouble came with a contraction of the volume of money. The Bible says of this time that silver was of no account. Josephus says of this time that silver was of no account. Josephus says Solomon demonetized silver; that it was neither used to buy or sell, but we know that it had been used for money before that time. Abraham used silver to pay for the cave of Machpelah, Avhich was used for a sepulchre for Sarah. Silver was used after that time, because Judas Iscariot sold Christ Jesus for thirty pieces of silver. It is evident that Solomon did what the money kings have done since; contracted the volume of money by demonetizing silver, and he ruined his country. Money became so scarce that usury became the curse of the land. This caused old Nehemiah to cry out, “I pray you let us leave off this usury.” Neh. V. 10.

In Ezekiel, Chapter XXII, God tells why He drove the Jews out of the land He had given them. I recommend the reading of this whole chapter carefully, especially verses 12 and 15, where God says:

“In thee have they taken gifts to shed blood. Thou has taken usury and increase and thou hast greedily gained of thy neighbors by extortion and hast forgotten me, sayeth the Lord God. — And I will scatter thee among the nations and disperse thee through countries and will consume thy filthiness out of thee.”

“The scattering of the Jews among the nations is the spawn that hatched the Red Dragon, the Jew Money Power, centered in Lombard and Threadneedle streets, London, England, and which the people of the world will arise and crush out and the Jews with other people will be made to see that the essence of selfishness, deception and dishonesty lies in usury or interest on money.”

Leviticus: 25 C. 36-37 V. “Take thou no usury of him, or increase; but fear thy God; that thy brother may live with thee.

Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.”

Deuteronomy: 23 C. 19 V. “Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury.”

Nehemiah: 5 C. 1-13 V. “And there was a great cry of the people and of their wives against their brethren the Jews. For there were that said. We, our sons, and our daughters, are many; therefore, we take up corn for them, that we may eat and live. Some also said, We have borrowed money for the king’s tribute and that upon our lands and vineyards. There were also them that said, We have mortgaged our lands, vineyards, and houses, that Ave might buy corn because of the dearth.

Yet now our flesh is as the flesh of our brethren, our children as their children; and lo, we bring into bondage our sons and our daughters to be servants, and some of our daughters are bought into bondage; neither is it in our power to redeem them; for other men have our lands and vineyards.

And I was very angry, and I rebuked the nobles and the rules, and said unto them, Ye exact usury, every one of his brother.

And I set a great assembly against them. And I said unto them, we after our ability have redeemed our brethren, the Jews, which were sold unto the heathen; and will ye even sell your brethren. Or shall they be sold unto us?

Then they held their peace, and found nothing to answer.

Also, I said. It is not good that ye do; ought ye not to walk in the fear of our God because of the reproach of the heathen, our enemies? I likewise, and my brethren and my servants might exact of them money and corn; I pray you let us leave off this usury. Restore, I pray thee, to them even this day, their lands, their vineyards, their oliveyards, and their houses, also the hundredth part of the money and of the corn, the vine, and the oil that ye exact of them.” Nehemiah: 5 C. 1-13 V. continued:

“Then said they, we will restore them, and will require nothing of them; so will we do as thou sayest. Then I called the priests, and took oath of them that they should do according to this promise; also I shook my lap, and said, so God shake out every man from his house, and from his labor, that performeth not this promise, even thus he be shaken out and emptied. And all the congregation said Amen, and praised the Lord.

And the people did according to this promise.”

Ezekiel: 18 C. 10-14 V.

“If he beget a son that is a robber, a shedder of blood, and that doeth the like to any one of these things, and that doeth not any of these duties, but even hath eaten upon the mountains and defiled his neighbor’s wife, hath oppressed the poor and needy, hath spoiled by violence, hath not restored the pledge, and hath lifted up his eyes to the idols, hath committed abominations; hath given forth upon usury and hath taken increase; shall then he live? He shall not live: he hath done all these abominations, he shall surely die; his blood shall be upon him.”

Ezekiel: 22 C. 12-13 V.

“In thee have they taken bribes to shed blood; thou hast taken usury and increase, and thou hast greedily gained of thy neighbor by extortion, and has forgotten me, sayeth the Lord God. Behold therefore, I have smitten mine hand at the dishonest gain which thou hast made, ... ”

These quotations clearly show the teachings of the religious leaders of those times and their laws against the practice of usury. Can a conscientious Christian take interest and feel comfortable after reading the foregoing?

We will now see what early European history has to say.


“The first gold and silver coins were brought from Asia to Hellas as an article of commerce. Gradually they came into use as money. After the State had commenced to coin its own money, for a long time there existed only a small amount of coined money in the land, and this was chiefly in the hands of the men of business and merchants. As soon as money ceased to be an article of trade like other articles coming on the market, when even the poorer classes could not exist without it — the laws of debt prevailing in the interest of the proprietors — money, like a poisonous plant, absorbed and consumed the strength of the land.” — Curtius’ History of Greece.

(Sounds familiar, doesn’t it? “Laws of debt prevailing in the interest of the proprietors.” Look about you, my dear reader, and see if this does not fit our present condition.)

Prescott in his “History of Peru” tells us that gold was found so plentiful by Pizarro that it fell in value to an enormous extent. The natives did not use it for money as their trading was all by barter, article for article. One of the Spanish soldiers traded a hatchet for his two handfuls of gold and the native ran away for fear the man would want to trade back.

Says Prescott: “A quire of paper was sold for ten pesos-de-oro, eleven dollars and sixty-seven cents of our money. Therefore, the quire of paper exchanged for $116.70 in gold, reckoned in our money of today.

A bottle of wine was sold for sixty pesos-de-oro, a sword for fifty, a cloak for a hundred and sometimes more, a pair of shoes for forty, a good horse for seventy-five hundred.”

Figuring in our money it would look so:

A bottle of wine$700.20
A sword$466.80
A cloak$167.00
A horse$29,175.00
A pair of shoes$350.10

All payable in gold and silver.

The reader can show this to his gold standard friends and let them explain.

In the times of Rome and Greece B. C, Swinton’s Outline History of the World, page 130, says: “The first authentic history of Greece as B. C. 776 and of Rome as B. C. 750, both countries being described as early organized republics and being normally republic under aristocratic rule at the time they were consolidated and the rich classes or patricians ruling except at intervals, when the people being aroused by great crisis took charge themselves.”

And of “The public land hitherto practically monopolized by the rich, no man should hold more than 500 jugera (250 acres), while the remainder should be distributed in small portions among the Plebians as their own property.”

— Swinton’s Outline History of the World, Page 143.

“This sort of plan was, of course, strenuously opposed by the rich Patricians, but they could not prevail against the tribunes who were successful in preventing the election of officers and of military levies.”

“History tells us that with these actions began a Golden Age of Roman Politics and civil concord, to which a temple was dedicated, and brought with it a period of civic greatness.” (See Swinton’s Outline History, page 144.)

“But with all their rulings they had not outlawed usury, so the Golden Age did not or could not last, and the practice of usury again built up a ‘money power’ which gradually undermined the laws with bribery and corruption and precipitated another ‘crisis’.”

The following excellent description of the financial history of the early European period is reprinted with permission from “What Is Coming,” by L. E. Stowe.


“We know the people were largely tinctured with Socialism, and undoubtedly like our Socialists of today, thought that money must be based on something, and that something must be labor, or the product of labor, consequently oxen were largely used as money and a basis for currency a cheap metal. Undoubtedly the Augean stables, belonging to King Augeus of Elis and said at one time to have contained 3,000 oxen, were his treasure house, 1194 B.C.

“Homer and Hesiod never speak of gold or silver money. They express the value of things by saying they were worth so many oxen. Homer values the golden armor of Glaucus at one hundred oxen, and the brazen armor of Democles at nine oxen.

“Caesar issued a cheap metal money, receivable for taxes and based upon cattle and bearing the device of a horse, an ox, a hog, an ear of corn, as the case might be, to denote the value of different pieces.

“Some of the States or Colonies of ancient Greece adopted iron money as their medium of exchange.

“Lycurgus, the law giver of Sparta, adopted a system of iron money, and that it might not be withdrawn from its legitimate purpose to be used in the arts (for iron was a scarce article in those days), he steeped it in vinegar to destroy its malleability.

“Xenophon states that, “Most of the states of Greece have money which is not current except in their own territory.”

“Plato recommended a double currency in every nation: “A coin,” said he, “for the purpose of domestic exchange it must have a value among the members of the state, but no value to the rest of the world.”

“For visiting and using in other states he proposed a coin of intrinsic value, which would pass current in foreign states.

“But the money changers have always fought a cheap money, and when they are successful, the people must suffer. In Attica 595 B. C. they had destroyed cheap money, and interest was high. There was a mortgage stone at the corner of nearly every piece of land, the money loaning class had their grasp on everything, and they and their victims were about to clash and deluge the land with blood. But they finally agreed to arbitrate and consented to leave the matter to the philosopher Solon. He said he could do nothing for them except to draw up a code of laws, which if they accepted and obeyed, would save Attica from ruin. They consented. First he abolished all interest. The foolish people, hoping to someday become wealthy money loaners refused to accept this as well as did the money loaners. He then ordered the mortgage stones taken up and the debt forgiven wherever the payments returned a sum to the loaner equal to the principal first loaned, then to make it possible for the debtor class to meet their obligations he increased the value of money by calling in all of the coins of the realm and recoining them and nearly doubling the volume by reducing the amount of metal in the coin. This saved Attica from bloodshed and ruin.

Solon was asked by Croesus, king of Lydia, if the laws, wliicli he had made for the Athenians, were the best that could be given them. He said, “Yes, the best they were capable of receiving.”

“ All through the history of man there has been a continual war between the people and the privileged class. The privileged class when defeated in one locality gathered their silver and their gold and hied themselves to some other country where they could gain privileges to rob the people.

“ After losing their power in Greece many of them retreated to Carthage. But people were more clannish in those days than at the present time and foreigners could not get a foothold with political influence in a day. It took many years before their influence was greatly felt in Carthage and when they did get hold of Carthage, their blighting influence soon destroyed the country, as their devouring system of usury and selfishness will bring the most flourishing country to ruin, as surely as the army worm will wither and blast the most fertile and flourishing fruit tree, when once it gets a fair hold upon it.

“ Carthage was the most prosperous nation on the globe at that time. Her white sails dotted the waters of the then known world, if indeed they did not reach to that of the new world. Her mines produced $10,000.00 per day of the precious metals, yet the metals were not used for money at home, but were kept especially for trade and commerce abroad. For home use Carthage had a leather money and to prevent successful counterfeiting, it contained a metal core, a compound of metals, the compound a secret of the government.

“ Carthage became very rich and powerful, but there was rising in the west a nation that was to eclipse her in all her glory. Rome was that rising power. Hannibal being a statesman as well as a general, determined to conquer Rome. He hired his soldiers from foreign countries, equipped an army, marching through a hostile country, he crossed the Alps, making friends of the barbarians. He carried on a long war, but finally was compelled to send home for assistance, for men and money. In pleading his cause he said, “It is now or never, for it is Carthage or Rome.” But he had left an enemy in Carthage far worse than those he was fighting. The money power had destroyed the cheap money and come to a money of precious metals. They had control of all government offices and established many useless institutions to make room for their people in office, thus taxing the people heavily to meet the expenses. They considered only their immediate interests, so refused aid to Hannibal and recalled him. Hannibal withdrew from Rome, Scipio immediately followed him and was soon thundering at the gates of Carthage. A council of war was called and of course Hannibal was present, and in the discussion that followed Hannibal took no part but stood with folded arms and smiled at their tribulation. Senator Asdrubal Hoedus said, “Hannibal smiles and his country is in danger.” “Yes,” said Hannibal, “the smile of contempt for him who feels his country’s loss, only, when his own interests are at stake, it is sorrow for Carthage.”

“ With the destruction of the cheap money of Carthage came an era of corruption, even the judges became so corrupt that Hannibal when made Preator was compelled to impeach the whole bench of judges, and he corrected other evils, and says Rollins the historian: “They exclaimed vehemently against these regulations as if their own property had been forced out of their hands and not the sums they had plundered from the people.”

“ We will now note the difference in the financial changes between Carthage and Rome.”


“ Money is always scarce in new countries and prices high and interest runs up to almost an unlimited extent. There is always a vast amount of enterprise and push among those who venture everything to establish a home in a new country. Rome was the “Star of the Empire” setting westward. She was rapidly increasing in population both by immigration and by extending her border by conquest. The volume of money was increasing but not in proportion to population, consequently, there was always a strife between the privileged class and the producing class. And here is something I wish to forcibly impress on the minds of the people; the privileged class always tried to destroy the force and the power of the people’s leaders. Sometimes by circulating false reports, sometimes through bribery, sometimes by foisting their own friends into positions which they misuse and so betray the people, and sometimes by assassination.

“ The people seldom, if ever, assassinate a ruler or leader except they go in mobs, but where an individual does such work he generally does it at the instigation of a band of conspirators.

“ Now the bone of contention was money, land, and political rights, or abused privileges, but interest on money was the leading evil. Marcus Manlius, a patrician, was one of the noble defenders of the people’s cause. He was a soldier of great physical strength and when in 530 B. C. the Gauls attacked Rome the poorer classes withdrew and said they had nothing to fight for. (This shows that oppression and poverty destroyed patriotism.) The soldiers retreated to the citadel on “Tarpin Rock,” and one night when the Gauls attempted an assault, they scaled the rock, but before scaling the walls Marcus Manlius was awakened by the squawk of the sacred geese. He sprang to the wall, and being a powerful man, he hurled the enemy down as fast as they came upon the wall, and made so much noise as to awaken his comrades, who came to his assistance, and thus saved Rome. This gave him great honor and notoriety. The Gauls were soon compelled to withdraw when the people were coaxed back with the promise of amelioration of the existing political evils, land limitation of ownership, etc. In this Marcus Manlius became one of the strongest defenders of the people’s rights. The Patricians became enraged at this and determined to destroy him, and the foolish people consented to hurl him to death from the very rock where he gained his notoriety.

“ This narrative has no direct bearing upon the question of volume of money, nor have the two narratives following, but the reader should keep them in mind as they have a great bearing upon the historical facts that follow.

“ Notwithstanding the volume of money had been largely increased by reducing the metal in the coin, to carry on the war, population had increased, territory had increased, and much treasure was hidden and lost, consequently money was still scarce and prices of all commodities ranged high, as the producers were withdrawn from their occupations to serve in the army, so that the lower classes could hardly afford the humblest of food and clothing, while the privileged class lived in luxury. Paper printing and engraving were not then known, so Rome could only increase the volume of money by reducing the metal in the coin. This debasing of the coin the money loaning classes could no longer stand.

“ The volume of money was not adequate to the wants of trade, and notwithstanding the many attempts to control rates of interest by laws, usury was one of the greatest of the many abuses heaped upon the people by the privileged class.

“ We are now in 133 B. C. Tiberius Gracchus, one of the tribunes, sought to enforce the long neglected agrarian laws limiting ownership of land to 500 acres also insisting on the wealth left to Rome by King Attalus of Pergamus by his will, to be distributed equally among the poor of Rome. This excited the animosity of the privileged classes who again set up the cry of ambition and collected enough fools from among the people to go down and murder Tiberius Grachus and three hundred of his followers. Again I say, note the manner of exciting the prejudices of the people for the purpose of using them against their own interests.

“ Ten years after the death of Tiberius Gracchus, his young and talented brother, Caius Gracchus being elected tribune, made a vigorous attempt to carry out the reform started by his elder brother. This included reforms in usury laws. He erected polling booths similar to those now used with the Australian system. At a new election he was counted out (just as they do these things nowadays). The people, indignant at this fraud and outrage, arose in defense of Caius Gracchus, the patricians fearing him, hired an assassin to kill him, and then circulated the story that he called one of his followers to slay him. History gives us both sides of the story but students of history who understand human nature believe the patricians murdered him.

“ We are now in 48 B. C. Julius Caesar, a successful general, virtually ruled Rome sometime before his dictatorship. He sought to correct many existing evils, among which was the limitation of land ownership. He saw the abuses of the money matters. Up to this time the issuing or coining of money had been granted to a few wealthy families. Caesar took this privilege from them and restored it to the government to whom it belonged. He also created a large volume of cheap metal money and started public works and paid it out to labor. This enraged the privileged classes. “The people loved Caesar,” Mark Antony said, and he said Caesar put away the crown three times and we know history tells us Caesar did not like to remain in the city among the corrupt politicians. He was a plain soldier and preferred the field, and notwithstanding this the privileged class determined to get rid of him, and for an excuse perpetrated their old trick, as in the case of Manlius and Gracchus, they charged ambition, and knowing the manner of murdering these men was still fresh in the minds of the people, they dared not try it, so concluded it would be safer to murder him with their own hands, which they did March 15, 44 B. C. But Mark Antony said, “They are gentlemen.” We have just such gentlemen today who would not hesitate at any crime to further their ends.”

“ With the death of Caesar soon came the death of cheap money, but Caesar’s successful wars had made Rome rich with the precious metal; they amounted to $1,800,000,000. But the mines now began to peter out and no new ones discovered and in consequence of many wars, treasures were often hidden away and never found, so that the contraction of the volume of money was very great. This continued until civilization was nearly snuffed out, and the Dark Ages were the consequence, in which many of the arts were lost and the finer feelings of man smothered.”

“ The reader’s attention is called to the money conditions and practices of Rome just before it fell, that are i)resent here in our own America today. Usury, high taxes, masses losing their lands and homes; debasing money, or as it is called now “lowering the value of the dollar”; the masses losing interest in and refusing to support the government, and now many of our unemployed millions listening to the fake remedy of “Russian Communism” instead of informing themselves of the real reason of their distress — the manipulation and issuing and control of the nation’s money by a private group of money changers.

“ The Roman Republic, however, was swept away to oblivion in another great crisis about the year 27 B. C. and resulted in the money power installing a dictator, Augustus Caesar, who soon established a policy of cruelty and violence against reforms.”

During all the time of which we have been writing the most learned minds and philosophers of high standing were all opposed to usury (the loaning of money at interest), some of whom express themselves as follows:


The Encyclopedia Britannica says of Aristotle:

“In the history of European thought and knowledge, down to the period of the revival of letters, the name of Aristotle was without a rival, supreme — his thoughts also were, as far as possible the forerunner of modern science. He was recognized as the strongest of the Ancients.”

We will certainly have to respect and revere the teachings and the thoughts of a man of that calibre, and what was his attitude on interest and usury in 350 B.C.? Listen —

“Money being naturally barren, to make it breed money is preposterous, and a perversion from the end of its institution, which was only to serve the purpose of exchange and not of increase.”

“Usury is most reasonably detested as the increase arises from the money itself, and not by employing it to the purpose for which it was intended.”

(Aristotle on Politics.)

“Although the monarchy had been abolished, the people of Rome by no means enjoyed the blessings of a free government. All political power in the hands of the Patricians, and Plebians, workers and producers were kept in a condition of great social degradation. Obliged to borrow money of their rich neighbors, they were charged enormous rates of interest, and when unable to pay, were delivered by the cruel laws to the mercy of their creditors, who deprived them of their lands, and reduced them to the condition of serfs or slaves. * * *”

— Anderson’s New General History.

“It is related that Napoleon, when shown an interest table said, after some reflection, ‘The deadly facts herein revealed lead me to wonder that this monster, interest, has not devoured the whole human race.’ It would have done so long ago if bankruptcy and revolution had not acted as counter poisons.”

— Michael Flurscheim.

“He who would give the name of robber or parricide to the iniquitous invention of interest would not be very far from the truth. What, indeed, does it signify if you have made yourselves masters of the wealth of another by scaling walls or by killing passers by, or if you have acquired what belongs to you by the merciless methods of the loan?”

— St. Gregory of Nyssa.

“Why do the masses work overtime for insufficient pay? Why has our transportation system broken down? In each case the answer is interest. If we let the interest taker skim all the cream off the profits of the transportation system, of course, it will break down. If not arrested, interest will throw to the scrap heap humanity itself.”

— John Basil Barnhill.

It is recorded that “Cato, the Second” when asked his opinion on usury, replied by asking,

“What do you think of murder?”

Inferring, of course, that he considered the two things about alike.

It is very plain to see by the foregoing instances that when usury is practised, it soon builds up a powerful ring of money lenders who leave no stone unturned to keep and further their use of the practice of usury, and the power that they can attain by corrupting the government officials with the vast quantities of money that must inevitably accumulate by usury.

They do not stop at wholesale murder, nor any degree of corruption, and generally end by the overthrow of free government and the establishment of a dictator or despot they can control by the use of money.

If we wish to see what eventually happens to this kind of dictatorship, we may read what happened to Rome. In that time oppression became worse and worse, and people who wanted liberty and freedom fled to other countries, and finally when the barbarians swept down in ever-increasing numbers, there was not enough patriotism left in the citizens for their own country to cause them to defend it, and it went down to destruction. (So Dunham tells us in his work, “The Middle Ages,” Vol. 1, page 229.)

“Cities were sacked, fortresses were leveled, churches were burned, monasteries of both sexes destroyed, the fields wasted, the country abandoned, so that wild beasts supplied the place of men. These are facts which no sophistry can invalidate.”

Not a very pretty picture to contemplate, but one we certainly want to avoid here in America.

Jesus and the Money Changers

Coming now to the time of Christ’s ministry on earth, we have only to refer to his action of driving the money changers from the temple with a scourge of cords, to get his viewpoint on usury and the manipulation of money values, AND FOR WHICH HE DROVE THEM FROM THE TEMPLE.

For many years the people who were in the business of handling money were called bankers, but of recent years you hear them referred to as “money changers,” even by our highest government officials — the same term used by Jesus when He drove them from the Jewish Temple of Jerusalem and accused them of making the Temple a den of robbers. You will find it in Matthew 21:12-13, and Mark 11:15-19. As this seems to be the one and only time when Jesus used force or “direct action” in His ministry. He must have had a very good reason for doing so.

In looking up the history of “banking” or practice of money exchanging of that time, we find the following condition existed: There was a “rule” or “law” that the tithes or taxes of the church or Temple could be paid only in one certain coin called the “half shekel of the sanctuary.” True, they had several different coins at that time, but nevertheless, the above law existed and all the people had to obtain this particular coin with which to pay their taxes or dues. (See Exodus 30:11-17, and 36:25-26.) And don’t forget that that was one thing that they all did in those days — pay their Temple Taxes!

Can’t you see the pained look on the old money changer’s face when people asked him why such a law existed? “Why ask him about it? Surely he had nothing to do with it; he was just a “poor fellow trying to get along.” They should go to the lawmakers and ask them; they were the wise ones; they would know; they made the law, not he.” If the reader would like to know how he looked and acted, just go to your banker and ask him the same question concerning the Gold Standard.

History is not altogether clear as to just how they coined their money and got it into circulation among the people in those days, but the chief functions of the bankers seems to have been the changing of the trader’s foreign money into local money. This business probably lagged somewhat or was not very profitable in the interval between the arrival of different caravans from the foreign countries, at any rate the aforementioned law was passed concerning the payment of the Temple Tax in only one coin.

Can’t the reader easily imagine what happened? All the people had to pay their Temple Tax, and “had” to pay it in ONE CERTAIN COIN, and the volume of money in those days was never very great and especially this coin was not too plentiful. The money changers, having most of the money anyway, were, of course, soon able to “corner” all the special “Tax coins” and raise the price or exchange rate to whatever they wished or could get for them.

Just to be good and accommodating to their customers they accordingly established themselves in the Temple, where the good people came to pay their Temple Tax and where for a “price” they could get the “half-shekel of the sanctuary” with which to pay it. It is said it cost them two or more times its actual worth, or the buying power of the “half-shekel” when it was used to buy commodities. The doves and the animals that the people bought for sacrifice also could be bought only with this same “half-shekel of the sanctuary” or “special coin” that had to be obtained from the money changers.

So it becomes quite apparent that what Jesus objected to in the business of the bankers, at that time, was not the exchanging of foreign MONEY into local money, BUT THE CHANGING OF THE VALUE OF THE TEMPLE TAX MONEY, and robbing the people of the difference between the purchasing power and the tax-paying value of the coin, when they HAD to have it to pay the tax they HAD to pay. They had actually CHANGED THE VALUE of the money, by first making the laAV to have their Temple Tax paid only in ONE CERTAIN COIN, and then by cornering the supply and hoarding it, then CHANGING OR RAISING the value by charging twice its commodity value, or its value in buying produce. Thus they were really MONEY CHANGERS, as Jesus called them and for which He drove them from the Temple.

Now, we will just step down through the pages of history to 1873 in the good old U. S. A., when silver was demonetized and gold was made the standard money. If you think that the price of MONEY can’t be changed, just get your BUSINESS GRAPH and see what happened to the prices of “things” in the relation to gold from 1873 for the next seven years, the longest “depression” the U. S. had ever experienced up to that time. As it worked with the “half-shekel of the sanctuary,” so also it worked with the Gold Standard.

Substituting the following things in 1873, for what they were then, in A. D. 30, we have:

A.D. 30A.D. 1873
Law MakersOur Congress
Money ChangersInternational Bankers
Temple Tax money or the “half shekel of the sanctuary"Gold
Temple TaxDebts, Interest, Taxes, Mortgages
A law making the Temple Tax payable only in one certain coin.A law making the above payable only in gold money.

Do you see anything changed in the pictures of the two things above?

No, just the same old game of paying the Temple Tax in ONE certain coin. Look at it closely and you will see that the same people, the same race, the same type of minds, that were the money changers of 2,000 years ago and had a law passed making the Temple tax payable in one certain coin, were the formulators of the Gold Standard all over the world of our day, and the “half-shekel of the sanctuary” becomes the ancestor of the “Gold Standard.” It is the same old game with new surroundings, new words, phrases, and practices to camouflage and confuse the minds of the people as to the “why” of such a condition existing.

Ins’t it plain that the only mystery or complication about money, so far, is the maze of explanatory smokescreens spread by the paid economists, and financiers to cover up the ABUSE of the USE of MONEY?

History does not tell us much of the collusion of the lawmakers, rabbis, and money-changers, in having such a law passed, nor of how the tax money GOT BACK into the hands of the money changers from the tills of the temple priests, nor at what exchange rate, nor who received the graft, but any nation may look with grave suspicion upon a group of people who will uphold and work for a continuation of a system of National money and finance in our Christian country and in our times, that had such an unholy ancestry.

In his book, “Money and Its True Function,” F. R. Burch has the following comment:

“As long as Christ confined his teachings to the realm of morality and righteousness, He was undisturbed; it was not till He assailed the established economic system and ‘cast out’ the profiteers and ‘overthrew the tables of the money changers,’ that He was doomed. The following day He was questioned, betrayed on the second, tried on the third and on the fourth crucified.”

Their court procedure seems to have been much more efficient in those days than now.

We now come to the disciples of Christ, and what their attitude and teachings were, on usury.

The Apostle Peter, telling the public of his Vision, said:

And in another lake, full of pitch and blood and mire bubbling up, there stood men and women up to their knees: and these were usurers and those who had taken interest ...”

Antinicene Fathers, Vol. 9, page 146.

The Apostle Paul, in telling of his Vision, said:

And I saw another multitude of men and women, and worms consumed them. But I lamented and sighing asked the angel and said, ‘Who are these?’ And he said to me: These are those who exacted interest ON interest, and trusted in their riches and did not hope in God that He was their helper.”

Antinicene Fathers, Vol. 9, page 160.

The Apostles Paul, Peter, Stephen, and James were killed. Peter was struck, Stephen overwhelmed with stones, James was a victim of the Altar and Paul was beheaded.”

See Antinicene Fathers, Vol. 13, page 648.

The Catholic Encyclopedia, page 235: “The early Catholic Church on Usury:” “In the article interest, we have reserved the question of the lawfulness of taking interest on money lent; We have here to consider first, usury as a subject of controversy; and secondly, usury as condemned by all honest men ...”

And again it says, page 236,

“The canonical laws of the Middle Ages absolutely forbade the practice.”

We find in Ashley’s English Economic History on page 149, part I, edition III. “Among the canons of the great Luthern Council held by Alexander III in 1179, one ran as follows: “Since in almost every place the crime of usury has been so prevalent that many persons give up all other business and become usurers, as if it were permitted, regarding not its prohibition in both testaments, we ordain that manifest usurers shall not be admitted to communion, nor if they die, in their sin receive the Christian burial, and that no Priest shall accept their aim. Clergy disobeying this order were to be suspended from their office until they had satisfied their bishop.”

The same Pope, in letters to the Arch-Bishop of Salerno and Bishop Priacenza, had pronounced that usurers, and even the heirs of usurers, ought to be compelled to restore their unjust gains under similar penalties. And at another place says: “It was at another great council, that of Lyons in 1274, that Gregory X ventured to make fresh advance in both these directions. In one he ordains that no community, corporation or individual should permit foreign usurers to hire houses, or indeed to dwell at all upon their lands, but rather should expel them within three months; and he forbids anyone to let houses to them.”

The next Canon ordained that the wills of unrepented usurers, of usurers who did not make restitution — should be without validity. And yet in another place the same author we find: “We therefore decree, with the approval of this sacred council, of Vienne, that whatever authorities, captains, rectors, counsels, judges, councilors, or any others, presume to make in the future any statutes, either that debtors shall pay usury, or, that a usurer is not bound to restitution, shall incur sentence of excommunication.”

Considering our present world plight, it would seem that the foregoing decree was not enforced very strongly in the later centuries.

For the opinion of Shakespeare on usury we need only to read “The Merchant of Venice.”


Martin Luther (Elliot on Usury, page 71):

“Whosoever eats up, robs, and steals the nourishment of another, commits as great a murder, as he who carves a man or utterly undoes him. Such does a usurer, and he sits the while on his stool, when he OUGHT to be HANGING from the gallows.”


“For we altogether condemn usuries, we shall impose severer restrictions upon the consciences than the Lord Himself desired; while if we make the least concession, many will use it as a pretext and will snatch at a bridleless license, which can never afterward be checked by any moderation or exception.”


And again in the work of Elliot on Usury, page 262, we find:

“In the earliest periods of which we have any records, we find that the doctrine, that the letting money to hire was sinful, prevailed universally over the islands of Great Britain. It was the prevailing opinion that interest, or usury, as it was then called, was unjust gain, forbidden by Divine Law, and which a good Christian could neither receive nor pay. In common law the practice of taking increase was classed among the lowest crimes against public morals. So odious was it among Christians that the PRACTICE WAS CONFINED ALMOST WHOLLY TO THE JEWS, WHO DID NOT EXACT USURY OF THE JEWS, BUT OF CHRISTIANS.”

“The laws of King Alfred, about 900 A.D., directed the effects of money lenders upon usury should be forfeited to the King, their lands to the lords upon whom they were held, and they should not be buried in consecrated ground.”

“By the laws of Edward the Confessor, about 1050 A.D., the usurer forfeited all his property and was declared an outlaw and banished from England. In the reign of Henry II about the close of the twelfth century, the estates of the usurers were forfeited at their death and their children were disinherited.”

“His successor, Richard I, was yet more severe, forbidding the usurers to attend his coronation, nor would he protect them from mob violence.”

“During the thirteenth century the severities against the usurers were not relaxed. King John confiscated their gathered wealth without scruple. It is recorded that he exacted an enormous fine of a JEW IN BRISTOL for his usuries and when the JEW REFUSED TO PAY, he ordered one of his teeth to be drawn daily until he should pay. The Jew is said to have endured the pulling of seven, BUT THEN WEAKENED AND PAID THE PINE. It is written in the Chronicles of England, 1251 A.D., ‘By such usurers and licentious liurs as belong to him, the realms had already become sore corrupted.’”

“In the fourteenth century, under the three Edwards, the taking of interest was an indictable offense, and Edward III made it a capital crime.”

“Attorney General Noy, in the reign of James I, thought the taking of money by usury was no better than taking a man’s life. He said, ‘Usurers are well ranked with murderers’!”

Chapter 4.

A history of money and banking of early Europe

The following excellent treatise on early European banking practices and money is the most revealing and extensive the author was able to obtain on this period and is reprinted with permission from the book, “What Is Coming,” by Lyman E. Stowe.

“ With the destruction of Commerce, which always comes if the shrinkage of the volume of money is great enough, came poverty, distress, and loss of patriotism, and the final downfall of Rome.

“ With the breaking up of the great Roman Empire, came a swarm of small republics. Each of these tried to excel the others in offering protection in opposition to individual privilege.

“ The Florentines guarded their political rights with such jealous care that they held their elections every two months.

“ It was Venice, one of the independent cities, that gave birth to the mother of our present credit system that turned the tide of commerce from a downward to an upward current, which gradually led to a higher state of civilization.

“ For many years the money center rested with two independent cities — Venice and Genoa.

“ Before I proceed further I will give a brief description of the


“ This bank was established in the year 1171, and fell with the fall of Venice in 1812, thus standing for nearly six and a half centuries.

“ The Bank of Venice was a governmental bank. The Venitian government was at war and needed funds and was compelled to resort to forced loans from its wealthy citizens, for which it gave credits in bank. These credits were transferable through a sort of tally system; in part or in whole, they were also receivable for taxes and dues to the government.

“ The government entered into no obligation to repay the money. But Colwell, in his ‘Ways and Means’ says: ‘Reimbursement of the loan ceased to be regarded as either necessary or desirable.’ Thus credits ran up and stood at a premium of 30 per cent above coin, but was finally fixed at 20 per cent above coin, and this because of their being accepted for all dues to the government. At first the government paid interest on deposits but this was abolished in 1423, and all bills of exchange payable in Venice, whether domestic or foreign, were decreed payable through the Bank of Venice, unless otherwise specified in the contract. For the long existence of this bank Colwell says that they never suffered one panic. He further says: “That the inhabitants of Venice were satisfied. We cannot doubt, as not an objection was ever made to the bank, at least none is extant, neither book, nor speech, nor pamphlet have been found in which merchant or dweller in Venice ever put forth any condemnations of its theory or its practice’.”

“ Now what have our gold bugs who scream fiat for the purpose of scaring investigators away from the grain of truth, to say of this bit of financial history?

“ Fiat, indeed! It was this fiat system that fanned the dying spark of civilization back to life.”


“ Was a sister bank of the Bank of Venice, and was established early in the thirteenth century. Like the Bank of Venice it had its origin in the necessities of the State, though loans upon which it was based were not forced but were the spontaneous offerings of the people. According to Caldwell, the Bank of Genoa was the first to originate the bank note. The bank fell with the overthrow of the government at the same time as the fall of Venice.

“ For many years these three cities,Venice,Genoa and Florence were the money centers of the world. But such a system of the people’s money was not pleasant or desirable to the usurious class, consequently, as the “Star of Empire” drifted westward the money loaning class sought pastures new, and for a time located in Amsterdam where favorable privileges were granted.


“ Was founded in 1609, on strictly commercial basis, and not to afford any assistance to the government. As before stated, Amsterdam was the commercial center of the world, and, of course, offered the greatest inducements for a moneyed center.

“ The bank was established on the principle that coin once deposited, could never be withdrawn, but the people holding its notes knew that the specie was behind them, and it might just as well have been at the bottom of the sea, as it was not convertible. The bank’s first capital consisted of silver coins, Spanish ducats, but foreign coins of all kinds soon flowed into the bank, and were received at nine per cent discount. These coins were melted up and the metal sold, which of course helped to enrich the banking company.

“ In 1672, when Louis XIV penetrated to Utrecht, a great fear arose, and people who had accounts with the bank demanded coin, but this was met so promptly that confidence was restored. But in 1790 the bank refused to return in coin a less amount than 250 florins.

“ Notwithstanding, it was supposed that the bank contained so much coin in its vaults, it became a heavy loaner to great corporations. It loaned the East Indian Trading Company more than 10,500,000 florins, which sum of course it was unable to make up to its depositors, and so it assigned its claims and expired. So much for the first failure of a specie basis promissory note banking institution.”


“ Was established in 1619 on the model of the Bank of Amsterdam. It is still in existence, and is a flourishing institution. (1896)

“ For a number of years prior to the fall of Amsterdam the commercial center was gradually changing from Amsterdam to London, England.

“ Holland had become rich and prosperous, and no great contraction of the volume of money had ever taken place, and after the fall of the Bank of Amsterdam, Holland adopted a favorable currency system that has kept financial panics at bay.

“ England had for many years been a good stamping ground for the usurer — both Jew and Gentile.

“ The English nobility, or governing classes, were mainly the direct descendants of the old Vikings or Norsemen, a piratical class of adventurers from the far north, and of course were just the class to be bribed and influenced by the usurious money loaners, and as a nation she still pursues a piratical policy toward all weaker countries. But with all her faults she has always been a progressive country, and consequently always required a large volume of circulating medium. Like old Rome, for a great length of time she had no other means of increasing that volume than by reducing the amount of metal in the coin. Finally in the reign of Henry I., from 1100 to 1695, the tally system was adopted, a money fabricated out of wood. Says Jonathan Duncan, the historian: “Its intrinsic value was no more than the value of the wood of which it was fabricated, but its representative (or commercial) value denoted large sums.”

“ These were called exchequer values, and the system was similar to our greenback system, and it extended down to 1694, when the specie basis. Bank of England was established; then the tally system was abolished and it brought ruin. The result of this sudden contraction is given by Devant, as follows:

“The government appeared like a distressed debtor who was daily squeezed to death by the exorbitant greediness of the lender. The citizens began to decline trade, and to turn usurers. Foreign commerce had infinite discouragement. ‘We are going headlong to destruction with carrying on a losing trade with our neighbors, and what has brought us to this low estate?’ ”

“When paper money flourished (credits) and tallies performed all the offices of money, the great payments for land or rich goods, were therefore easily made, the king’s duties paid, and all kinds of business easily transacted.”

"Read this and stick it under the nose of the knave or fool who howls “Fiat!” the moment you speak of a government money made of cheap material.

“ We must go back a little and refer once more to the debasement of British coins.” Says Encyclopedia Britannica: “At the close of the thirteenth century the pound sterling contained what its name implied, a pound weight of silver, of 112 fineness, the penny, which was the commonest coin, containing a two hundred and fortieth part of a pound. Between this period and the Sixteenth century her penny was reduced to one-third its ancient weight.

“ The English pound now worth $4.84 of our money (1896), if expressed in our dollars, would weigh less than five ounces, and the commercial value of the commodity worth about $2.80. The above valuation shows us that silver was the standard metal of England down to 1817.

“ From Henry VIII. there was a continual debasement of the metal money down to 1551, and says the Encyclopedia Britannica: “An attempt was made at the conclusion of this reign to issue a coinage of genuine quality, but as the base money continued in circulation, the attempt was futile.” This shows us that the people preferred a money that cost but little for the material of which it was made, and that the desire for a high priced commodity came from another source, i. e., the money loaning class, who wished to make money out of it. To quote another:

“ Queen Mary was anxious to restore the ancient standard, but found it impossible to do so. However, Elizabeth called in her father’s and brother’s base money at a low fixed rate, which gave her a considerable profit, and put into circulation money of the old character and quality. This was effected in 1560.

“ The contraction of the volume of money, through this change, was soon felt in the war of commercial distress, but the dire results of a dissatisfaction did not reach its height until the autumn of 1642 — 82 years after the civil war broke out under Cromwell. Dissatisfaction and rebellion do not follow immediately upon the heels of the cause, but take years to reach the point of explosion.

“ The metal in the coins was reduced again in Cromwell’s time. But look at what a cost of suffering and blood that was necessary before the people got back to a cheaper and more plentiful money. For many years the goldsmiths of England were the bankers.”

Usury, the Persistent Cause of Sin and Crime

After all these experiences down through the centuries with the practice, and results of the practice, of usury, it would seem that the people of the civilized world would have banded together and outlawed usury once and for all.

Such was not the case, however, and usury was to come back into power, stronger than ever, and has continued to gain in strength, until today it has the whole world in its strangling grasp. And there is a very definite reason why it revived and came back stronger than ever and continued to grow in strength and power throughout the centuries.

That reason was threefold: first, there was a feeling at that time among most of the people that nothing but gold and silver could be regarded as “money.” It was the common belief that money must have within itself a real value. This restriction worked to the advantage of the money lenders or usurers, in that the volume of money, both gold and silver being comparatively small, they could and did combine and conspire together to hoard it and keep it out of circulation. And the effect of this was, as we have it here, and all over the world right now — and for the same reason — a strangulation or restriction of all business life, even to international trade.

The second reason for usury’s revival was that the Jewish usurers revived their age old practices of collusion with and bribery of lawmakers or public officials, who accepted bribes or loans of money in exchange for influence or privileges of usury.

The third reason was the extension and elaboration of the Jewish usurer’s method of transferring money to keep from being robbed. In those early times, usury was not lawful and usurers did not have the protection of the law, so they conspired and agreed among themselves to take “trade acceptances” or certificates of credit on transferring money between them without transferring the money and subjecting it to robbers. If the transfer certificate was stolen and presented by anyone but the true bearer it was assigned to, it was not paid. This practice was in all probability the ancestor of our present checking system in this country, which, of course, enables commerce to be carried on with promises, instead of with real money, the money staying in the banks where it can be controlled.

Thus the usurers or money changers could handle or manipulate money between themselves to the confusion of all other people as to its whereabouts and as to how much there was in the country.

Instead of being so clever as some people claim they are with their various schemes, doesn’t it appear by the foregoing, and the temple tax and “half-shekel of the sanctuary” episode, that they (the money changers) are just persistent instead of clever, and use the same old tricks handed down for centuries?

Turning again to early England, we find the usurers kept playing their nefarious game, and when repressed too strongly they would conspire together and hide or hoard all the gold and silver money and practically strangle all industry and trading for want of money to trade with.

Thus by hoarding and keeping money out of circulation, business was strangled, or as we now say, a “Depression” occurred, and it became so bad in the time of Henry VIII, that he was “induced” to permit lending at interest of less than 10% in order to induce the money changers to let loose of enough money to get trade going again and people employed. This episode it would seem, was the real begining of the legalizing of the vicious and lecherous practice, which was, forever after, to continue to get more and more concession and “privileges” from the lawmakers and rulers in one way or another, right down to our present time, when the power of money seems to rule all civilized countries.

Quoting again from Elliot on Usury: “Edward VI revised the old laws condemning interest. Mary I next following, executed these laws with extreme severity and the usurers again renewed the hoarding of gold and silver.”

The law of Henry VIII and the decree of Elizabeth, in which she said, “The law should be strongly construed for the repression of usury,” were the laws of England with the rate of interest reduced until the year 1854, at which time all laws on usury were repealed.

In the meantime, however, the money lenders had entrenched and established themselves as a going “business,” legalized, and working with the established government, in an institution of their own, destined to become the world’s money capital for many years to come.

This was brought about by the establishment of the “Bank of England” in 1694.

England was in a war with France and needed money very badly to carry on the war. It is well to note right here, that beginning with this momentous event the establishment of this first large and governmentally recognized bank, in England, that its “Charter” and practically all subsequent “enlargements” of the activities and privileges that followed, as well as all others to follow in the various countries of the world, were obtained in times when the various governments were under conditions of stress, and generally in times of war, when it was absolutely necessary for the government to have “money” with which to carry on the war.

The reader may find with little trouble that there are likely some “banking interests” allied with munition firms, in which they also control the policy and get the profits, being beyond a reasonable doubt also connected with, or instrumental in originating, or bringing about “conditions” which cause these wars between peoples and nations, in such cases “banks” may and do “finance the government” with an economic gain to themselves and an enslavement, by “debt” of the producing classes of the nation, the debt and interest being loaded on, of course, in increased cost of commodities, and taxes, which in the end are always paid by the same producing classes.

Chapter 5.

History of the origin of the Bank of England

In the case of the Bank of England being given a name to imply that the bank was owned by the Government, there was established a practice of misnaming Banks that has been followed through the ages to the present day. Deception, make believe, do you say? Surely, but we must remember they are found to be two of the greatest and most effective weapons or tools of the “money changers” and always have been from the time of Moses down to the present.

They have purposely, consistently and continuously used these tools to get their schemes established and fastened upon the people and the government by laws, and once established they were, and are, next to impossible to repeal or remove. Murder, in single or wholesale, has been used all down through the ages to remove those who have had the nerve to try to resist their practices, or try to repeal or remove laws once established by this conspiracy and bribery.

The following historical comments on the origin of the Bank of England from the Encyclopedia Britannica, 14th edition, Vol. 3, p. 52, give us a pretty clear idea of the methods of the money changers in getting their schemes established. The reader will please note that the Bank was not established by a law called a “Banking Law,” but by an act called a “Tonnage Act.” Later you will see that silver was demonetized in the United States in 1873 by a bill that did not disclose its purpose in its name, and was, in purpose and effect, not known generally for years, but in that time had worked its ghastly havoc.

Note also that the Bank of England’s charter conveyed the privilege to the bank of issuing Bank Notes or paper money to the full amount of its capital; its capital in gold being all loaned to the Government at 8% interest with which to carry on the war with France, the Bankers thus had the 8% interest on their capital loaned and all their money back in the issue of paper money to lend at interest to other people in trade and commerce. Pretty soft, wasn’t it, for the Bankers?

The English banking system founded

Excerpt from Encyclopedia Britannica, 14th Edition, Vol. 3, p. 52:

“Founders, John Thompson and Son — Samuel C, Cashier, Isaac W. White.”

“The Bank of England was not the original scheme of William Patterson, its founder. As is usual in English political history, it came into being almost by the back door, deriving its life from the Tonnage Act of 1694, of which the preamble read, ‘An act for granting to their Majesties several acts and duties upon tonnages of ships and vessels, and upon beer, ale, and other liquors, for securing certain recompenses and advantages in the said act mentioned to such persons as shall voluntarily advance the sum of fifteen hundred thousand pounds towards carrying on the war with France.”

“The bank clearly arose from the deal (Is this where we get the New Deal? — author) between the Government and its promoters, the former receiving cash and the latter the privileges. The capital was £1,500,000.00, the whole sum of which was advanced to the Government at the rate of 8% plus £4,000 per annum for expense or £100,000 per annum in all!”

“The privileges of a bank were granted for 12 years to the corporation, which was allowed to deal in bills or exchange or bullion, but not in merchandise, and to issue notes up to a volume equal to its capital.”

Chapter 6.

The English or Money Changers Banking System Started in the United States

“ We now come to the banking system of our own country. In 1700 Mayer Amschel Rothschild is recorded as saying:

“ Permit me to issue and control the money of a nation and I care not who makes its laws.”

The next year, 1791, with his help, the First United States Bank was established in this country. That gave him and his henchmen just that power.

As each of the thirteen (13) colonies were organized into States, they fixed a limit of 6 per cent interest that might be charged for loaning money and a penalty of the principal being forfeited by the lender if he charged more than 6 per cent. How times have changed money practices!

The people in the colonies were principally from England, Scotland, Ireland, and Germany, and being used to the lending systems there, and knowing that England had been compelled to surrender to the money lenders in 1694, when the Bank of England was established and usury legalized, they had been led to believe, likely through sentiment built up by usurers and their agents (today called propaganda), that this was the only way that the money question could be handled.

There was a prevailing opinion in the newly organized States, as there had been in England, that nothing was real money except that made of gold and silver. So, the United States Congress passed an act establishing government owned and operated “Mints” where all gold and silver that was brought to them would be coined into money free of charge, it being deemed a necessary governmental duty. It was hoped that this would so stimulate the production of those two metals as to furnish an adequate supply of money.

So-called State Banks (being privately owned, however) were also allowed to be incorporated and were allowed to issue paper money, but only to be redeemed in money of gold or silver coinage. They could only loan their real money, or keep it and loan paper money, but not both.

This privilege, as had been the rule with nearly all privileges pertaining to money and banking, was abused. In some instances the bankers being unable to withstand the temptation to issue more money (paper) than they could redeem; some, of course, “went broke” even as they do today when called on to redeem their money.

All this time, since the establishing of the new Nation, the development of the country was increasing and money was never adequate to take care of new needs and expansion, and there arose a movement for the establishment of a “New Deal” in banking. After years of agitation and maneuvering and manipulation, in 1791, Congress was induced to pass a law (after long debate and strong opposition) chartering the “First Bank of the United States.”

The reader will please note here that the identical tactics that were used with the establishing and naming of the Bank of England were again used, namely — the naming of the new bank the “Bank of the United States;” making it appear to be, without saying so, a bank owned by the government, that, of course, giving it the advantage of the prestige of the government, and the belief of the people of its consequent safety for the money they were to deposit in it.

More deception and make believe? Certainly, and as before mentioned, these are two of the main “stocks in trade” of the “money changers” or usurers.

It is most unbelievable, even at this date, to find the vast number of people here in the United States actually believing, and who will argue for hours that the Federal Reserve Banks are “owned” by the “Government.” Such, of course, is not true, as they are owned by private interests as was the Bank of the United States in 1791.

The first United States Bank was strongly opposed by both Edmund Randolph, the Attorney General of the United States, and the Secretary of State, Thomas Jefferson.

This law was drafted and advocated by Alexander Hamilton. In looking up his record we find that he was born of a French Huguenot mother, Rachel Faucett Levine, in the West Indies, and was said at that time to be the illegitimate son of one James Hamilton, a Scotchman, with whom his mother had lived; but at the time he was born, his mother was married to a Danish Jew by the name of Levine. History also says that others besides James Hamilton have been named as Alexander Hamilton’s father.

Young Hamilton was furnished plenty of money to come to the United States when fifteen years old and was educated in New Jersey in a grammar school and entered Kings College (now Columbia University) as a special student. Later he studied law.

When we consider carefully his life’s story together with his associates, and the backers in the “First Bank of the United States” and the tactics used in that deal, the long established fact of the Jewish money barons extending their help in money and credit to their own people, in any and all lands for obtaining trade and special privileges, such as was obtained in the Bank Charter; and the fact also that at the time Hamilton came to the United States, the Jews were not allowed citizenship here, and furthermore, that illegitimacy was not considered such a moral stigma by the vast majority of Jews as by Gentiles, as witness the customs said to be put into operation in Jewish controlled Russia, since the Jewish Communists took control, and in many places throughout the Old Testament; considering all these things carefully and thoughtfully, and Hamilton’s action in after years, one may well be able to come to the conclusion that “deception” and “make-believe” were practiced by Hamilton, even before the “Bank of the United States” episode, and that he was, as some Jews are said to admit privately, and to boast of actually, the Jew’s son to whom his mother was married and adopted the name of Hamilton with what stigma of illegitimacy attached to it, to obtain for himself the coveted citizenship of the United States, a most promising young nation.

At any rate, his citizenship was to be a great thing for him, as he became a very wealthy man, with a high social position, something impossible for a Jew to obtain at that time. He was rewarded in the end with a violent death in a duel at the hands of Aaron Burr. (It is recorded that the United States accorded full citizenship to Jews in 1783, the first nation in the modern world to do so.)

The first “Bank of the United States” was chartered for twenty (20) years, 1791-1811, and had a capital of ten million dollars. It did a thriving business. In 1809 a bill was put before Congress to renew its charter, which was to expire two years later. The debate in Congress on this bill was very heated, and the State Legislatures in both Pennsylvania and Virginia passed resolutions memoralizing the National Congress to prevents its passage. History tells us that Thomas Jefferson was violently opposed to the renewal bill.

After the First Bank of the United States had been working a sufficient number of years to give Thomas Jefferson a chance to form an opinion on it, he said:

“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power (of money) should be taken from the banks, and restored to the Government and to the people to whom it belongs.”

He could not have said more in a thousand words, and the above surely places the great Jefferson on record for all to see.

Mr. P. B. Porter, a Congressman, said:

“Let the principle of construction or implied power be once established in the extent to which it must be carried, in order to pass the bill (the Renewal Bill) and you will have planted in the bosom of this Constitution a viper, which one day or another will sting the liberties of this country to the heart.”

The newspapers of that time are quoted as calling the bank bill “A great swindle,” and in other places referring to the bank as “A vulture,” “A viper,” and “A cobra.”

It would seem that in view of the last quotations the press of those days enjoyed a real freedom and were not obliged to print only what special interests or large advertisers wished or allowed them to print. As far as the press is concerned — “those were the good old days.”

It would seem also that the majority of Congress of those days had a goodly quantity of real character, and the intestinal stamina to stand up and vote for the good of the people, for the “renewal bill” was killed and the first “Bank of the United States” ended, but with its ending did not end the activity of the money changers.

The reader’s attention is called at this time to two facts: the first, a condition of business and trade known as “good times” occurs when “money” is easy to obtain, and there is plenty of it in circulation. There is only one thing that makes money “easy” to get to do business with, and that is the attitude of mind or the “feeling” of the man or group of people that have the money in their possession. It is a fact that “money” as such, with very few exceptions, all down through history has always been in “few” hands, and if the possessors are permitted to do just what they please with it, loan it at usury, buy up and ” corner” foodstuffs or other commodities, and necessities; corrupt politicians and lawmakers to get them to pass laws enabling the “money lender” or “money possessors” to have special privileges, or to control public lands for their special benefit or any other privilege or thing they might think of or conceive, then, they are well pleased and will invest or loan or let loose of their money, and money is then said to be “easy” and “good times are had by the masses.” These people are well called the predatory class.

Second, there is a condition of business and trade known as “hard times” as is aptly, if unintentionally, put in the good old American song, “My Old Kentucky Home,” “Bye and bye hard times comes a knocking at my door, then my Old Kentucky Home goodnight.” That is just exactly what happens when hard times comes to many; for of the masses many are compelled to say “good night” and “good-bye” to their homes, their businesses, and other possessions, for which they had slaved many years to obtain, only to lose because money was “tight” and jobs scarce.

These “hard times” and “tight money” are real conditions. Money is hard to get hold of by the masses, because the money possessors “hold tight” to it and do not put it into, or let it get into circulation. Mark well, these times occur, when the money possessors want some special condition or special law to permit or enable them to loan their money at interest or usury, or get the rate of interest enlarged, or to get some special privilege in trade or commerce to enable them to get special advantages over competition, or (and here is a very large reason) to scare the masses of people, their legislators, or Government into giving them what they, the money lenders, want, or to “discipline” or get revenge upon the masses, or the government for “acts” or “laws” passed or established, limiting, curbing, or taking away some special privilege or concession they have had before, to the great detriment and loss to the people as a whole.

The reader will be well advised to read and memorize these “reasons” for good and bad, or hard times, or times of “easy money” and “tight money,” as the vast majority of “ups” and “downs” of business and trade the world over are directly traceable to the two foregoing “reasons.”

We will now return to the “killing” by Congress of the “renewal bill” for renewing the charter of the first “Bank of the United States.” As before mentioned, this bank had paid-in capital of ten million dollars in gold and silver money, and when the bank’s charter expired in 1811 the bank had to be liquidated and this “capital” was all returned in cash with interest or profit of something like 8 per cent.

This was a great amount of cash to be put back into private hands at one time for that day and time, and one would naturally suppose that the money lenders would be eager and willing to lend it right out again to anyone with “security” who might want it, and “easy money” and good times would be enjoyed by all. But such was not the case. The reader will please remember the operation of the second “reason” or the reason for the cause of “hard times.” These money changers, or usurers, had been deprived of a most valuable “concession and privilege” to loan and issue money, which was making them millions of dollars, ,and they were not going to submit meekly to any such treatment. So, having been able in twenty years’ operation of their “bank,” through interest “compounded” and the power to issue money themselves, also, to gather to themselves nearly all the actual gold and silver in the States at the time (at least that group and other money lenders together had), they proceeded to hoard it, and hold it out of circulation.

There is, of course, no record at hand of actual conspiracy and collusion, but the fact remains, as records of conditions at that time clearly show, that the most of them began hoarding their gold and silver money as it came in, and to refuse to loan it, or let it get into circulation in any way, and soon a big “panic” or time of “tight money” or “hard times” was on, and business and trade was in a stagnant condition. For this there was only one reason, and the one reason that always causes it, namely, the shortage of money, brought about by the “money changers” or “money possessors” hoarding their money, refusing to either loan it out, or put it into circulation by purchase, or by other activities that require money.

This hoarding by the former owners of the closed “Bank of the United States,” and other private money lenders, not only stagnated business all over the country, but had taken so much real “money” out of circulation that the “State banks,” which were comparatively small at that time, were unable to stand the strain of withdrawals, always brought about by “fear,” which the money lenders are said to be careful to spread abroad at such times.

Consequently, nearly all of the small state banks failed, and closed with untold suffering to the masses and more stagnation of business, the same as has happened since October, 1929, and for identically the same reason, only this last “depression,” as will be shown later, had more complications.

Considering the claim that much of the stock of the “Bank of the United States” was owned by English money changers, and remembering their habit of revenge and discipline on those who injure or thwart their plans, it may not be a very wild presumption that they may have had something to do with provoking the cause of the war of 1812 between England and the United States, the year following the revoking of their Bank Charter, in order to discipline the “upstart” Republic for so refusing to let them operate.

We can gladly remember, though the discipline was applied to them instead, and administered by good old Andrew Jackson at New Orleans, who was also to beat them again later in another arena.

It is a notable and significant fact in this connection, that the American business “activity chart” of 1931 by the Cleveland Trust Co., shows the amazing fact of a “war depression” at the time of the war of 1812, though wholesale prices are shown as being away up high as in other previous wars, while in all other wars we had a “war prosperity” era during the wars. One may well conclude that this “depression” in the war of 1812 was “managed” for the foregoing reasons.

It is one of the saddest of facts that in those times as now, not a sufficient number of the National legislators understood the money question or the idea of a scientific money system whereby any government can create a good, usable, steady, stable money supply that will serve any and all inhabitants to the benefit of all, and the loss of none.

So it was to happen, as it has many times since, in one way or another, through misinformation (in which the money lending fraternities are said to excel) and through bribery, persuasion, or social prestige, offered the National Congress, that they were finally prevailed upon in 1816 to grant another “charter” to the money lenders for the second Bank of the United States.

And just to show you how well the first “Bank of the United States” functioned, and how much money had been made with its special privileges, and how much of the Nation’s supply of money they had been able to get hold of through their special privilege interest racket, and hoard and hold out of circulation and cause a panic with, they were able to and did, charter the second “Bank of the United States” for, not ten million dollars, but for THIRTY-FIVE MILLION DOLLARS!!

Three and one-half times as much money as they had had for the first one in twenty years. Not bad for those times!

This bank charter was to run for another twenty years, but the money changers were to feel the weight of the hand of one of America’s real characters before the expiration of their charter. Right away, however, the new bank began to establish branch banks like its English ancestor, the Bank of England, had done, until it had branches in nearly all of the principal cities of the United States. Through the establishment of these branches, and the bringing into it institutions of money lenders in all parts of the country, and making the Banks’ interest their interest also, their political influence was enormously increased over the nation.

History says, “good times” were the order of the day, and why not? Had not the money lenders been able to get their “special privilege” to loan at interest “compounded” legalized, and the power to issue money returned to them? They soon established themselves on a basis never before enjoyed. And was not this great country all ready to be exploited, and were there not millions of sturdy, hard-working, honest, fearless, white Christian Americans to do the developing, with the “loans” of the money changers and to be themselves exploited through the interest system?

Does not the “reason” number one of the cause of “good times” work in this instance, or does it not? Read it again now and see. Referring again to the aforementioned chart, we find that this era of “good times” lasted until the spring of 1819; then they had what is called in the aforementioned chart, a “Primary Post War Depression” until 1821, when up went business and a time noted in the chart as an “Era of Good Feeling” and from that time on, to May, 1835, there wasn’t a 10 per cent variation from normal, either good or bad. Then up went business in a great way, and for a reason you will soon see.

The second “Bank of the United States” charter was to expire in 1836, so in 1831 there was a bill presented to Congress for renewing the Bank’s charter and it was passed by a small majority.

Andrew Jackson, having been elected President in 1828, immediately began to show his feelings toward the second “Bank of the United States” by having the money of the Government removed from it and depositing it in State banks.

The president of the “Bank of the United States,” Nicholas Biddle, had gone to President Jackson in 1832 to try to get a law passed giving them permission for his bank to establish branches in principal cities of the Nation; explaining to the President that if they could get these branches established, they could soon get enough prestige to be able to control the policies of the whole country.

Biddle was to find that he had made a grave mistake in “character reading” when he put such a proposition up to President Andrew Jackson, for no sooner had Mr. Jackson heard what Biddle had to say, than he promptly told him, that if such a thing were possible, that “that thing” was a menace to the Nation, and that instead of helping him get permission to establish branches, that he, Jackson, would do all in his power to keep him from doing so; and not only that, but he would also do all in his power to have the bank charter extension bill beaten when it came up.

Mr. Biddle replied that if Jackson was going to act that way about the matter, he (Biddle) and other bankers would finance a campaign to prevent Jackson’s re-election to the presidency. President Jackson replied to that with one of the bitterest presidential campaigns ever held; in which he fought the bankers to a finish and won his re-election by a handsome majority.

The bankers are said to have spent about three million dollars of the “easy money” the government had furnished them under the “Bank of the United States” charter, at a cost to them of one-half of one per cent, but even this enormous slush fund was not enough to beat the “Old Warrior of New Orleans” fame with his message of “Truth,” which yet at that time the common people were interested in, understood, and supported.

President Jackson said in that campaign:

“If Congress has the right under the Constitution to issue paper money, it was given them to be used by themselves, not to be delegated to individuals or corporations.”

Another noble example of an honest and rugged character in a high American office.

The money changers had been able to “reach” enough Congressmen to get this bill passed, but were unable to touch President Jackson.

The congress was not able to pass the bill over the President’s veto, so that left the Bank’s charter to expire in 1836.

Referring again to the Cleveland Trust Company chart, we find a “boom” noted as a “Bank Credit Land Boom” in 1836 and extending into 1837; and then all of a sudden — bang! and down went business! One may surmise that the bankers, seeing their “loaning days” were to be over in 1836, loaned all the money out, believing they could get good returns for their money on a land boom, and when the loans stopped suddenly and hoarding, by the money changers, was again the order of the day, down went business into a “tailspin” for two years.

We next come to an interesting phase of money and its effects on business, by noting the general prosperity of the whole country, from the money in gold, put into circulation from the great California gold fields from 1849 to 1857, showing clearly that as long as “new” money is adequately added to our circulating medium, in sufficient quantity, business will be “good.”

Next, we come to probably the most critical period in the history of our country from a money and banking standpoint, as well as from the grave danger of a severed Union — that during the Civil War from 1861 to 1865. The struggle that was to rid the country of human slavery of the black race, however, was also to fasten upon the whole nation an economic or money slavery, which has endured to the present time, and because of which our country’s life is in very grave danger.

Chapter VII.

The Birth of Lincoln Full Legal Tender Money

ABRAHAM LINCOLN had been elected President, and in spite of his assurance of a sincere desire to serve all the country alike, the Southern States had “seceded” from the Union and established a government of their own, called the Southern Confederate States of America, seizing Port Sumpter and other Government “stores” and arsenals, and so the war was on.

Lincoln called for volunteer soldiers for three months, thinking the emergency would soon be over. Such, however, was not to be the case, and when the three months enlistments were up, it was very plain then that it was a real war, and also that the government had no ready money with which to equip an army and proceed with the war.

It is said that Lincoln and his Secretary of the Treasury went to the “bankers” or money lenders of New York and applied for loans to the Government to carry on the war; the bankers replying, “Well, war is a hazardous business, but we can let you have it at from 24% to 36%.”

Appleton Cyclopedia, 1861, page 296, says:

“The money kings wanted 24% to 36% interest for loans to our government to conduct the Civil War.”

The President and his Secretary are said to have heatedly refused, and stated the terms were outrageous, scandalous, unpatriotic, etc., and the money lenders are said to have replied that, “If the government didn’t want the money at that figure, why, they could loan it to the Southern Confederacy,” and that is probably what they did. President Lincoln and his Secretary were, of course, greatly disturbed and in a quandary as to what to do and how to get money to prosecute the war and pay their soldiers. During Lincoln’s worrying over this matter, he recalled that he had a friend by the name of Col. Dick Taylor in Chicago, in whom he had great confidence; so he sent for him and put the problem of finance up to him to solve.

“ Why, Lincoln,” Taylor is said to have replied, “that is easy; just get Congress to pass a bill authorizing the printing of full legal tender treasury notes or greenbacks, and pay your soldiers with them and go ahead and win your war with them also.”

“ Do you suppose the people will take them?” Lincoln is said to have asked.

And to this Taylor replied:

“The people or anyone else will not have any choice in the matter, if you make them full legal tender. They will have the full sanction of the government and be just as good as any money; as Congress is given that express right by the Constitution, and the stamp of full legal tender by the Government is the thing- that makes money good anytime, and this will always be as good as any other money inside the borders of our country.”

And so it is written that that very thing was done, the soldiers were paid and some sixty million dollars of the full legal tender greenbacks were issued. All were taken at par and never appreciably fell below par at any time, as they were full legal tender for all debts both public and private, and the integrity and resources of the whole Nation guaranteed their value.

President Lincoln was greatly appreciative of this help of Col. Taylor and just in order that the reader may have no doubt of the matter, Mr. Lincoln’s letter to Col. Taylor in regard to this matter is herewith reproduced:

Abraham Lincoln’s letter to Col. Taylor, from the New York Tribune, Dec. 6th, 1891.

“My Dear Colonel Dick: I have long determined to make public the origin of the greenback and tell the world that it is Dick Taylor’s creation. You had always been friendly to me, and when troublous times fell on us, and my shoulders, though broad and willing, were weak, and myself surrounded by such circumstances and such people that I knew not whom to trust, then I said in my extremity: ‘I will send for Colonel Taylor; he will know what to do.’ I think it was January, 1862, on or about the 16th, that I did so; you came, and I said to you: ‘What can we do?’ Said you, ‘Why, issue Treasury notes bearing no interest, printed on the best banking paper. Issue enough to pay off the Army expenses and declare it legal tender.’

Chase thought it a hazardous thing, but we finally accomplished it and gave the people of this Republic THE GREATEST BLESSING THEY EVER HAD — their own paper money to pay their own debts.

It is due you, the father of the present greenback that the people should know it, and I take great pleasure in making it known. How many times I have laughed at you telling me plainly, that I was too lazy to be anything but a lawyer.

Yours truly,

A. Lincoln.”

But the wonderful condition spoken of by Mr. Lincoln was not to continue. Our glorious country was not to have the continuous blessing of a paper money to pay its debts with.

As soon as Lincoln began to issue perfectly good full legal tender greenbacks, good as gold anywhere in the country, the bankers and money changers saw that unless they could stop that sort of thing they were “sunk” so far as ever being able to issue money again themselves.

Chapter 8.

The Foreign Money Changer Kills “America’s Greatest Blessing"

THE money changers had been able to fool and hoodwink England, and keep her in bondage for 168 years, and they wanted very much to continue, and to add the balance of the world to their conquest; making the people everywhere economic serfs, working for them. They did not intend to give up such a juicy plum without a “scrap.”

So they began to polish their weapons of warfare, namely — bribery, corruption of law makers, deception, make-believe, political pull, economic pressure, and all the rest; all tied up nicely with what propaganda they could make use of, and commenced their battle for world domination through the power of gold.

The reader must remember here, in order to get the picture clearly in mind that since the closing of the second United States Bank money had been of coined gold and silver and gold and silver certificates that the Mint would issue to the owner of the gold, for his gold and silver coins and these coins were held by the Government with which to redeem the certificates. In addition to these was the paper money the bankers were allowed to issue but always to be redeemed in gold or silver. The idea of any government being so wise as to figure that whatever they wished to print and accept as money (the stamp of full legal tender, of course, making it good for all debts) was absolutely unheard of and the money changers certainly intended to get rid of such a dangerous (to them) idea.

So they began their campaign of trying to sell the masses on the idea that such money was no good, a fraud, not “sound money,” and all the rest of the “bunk” that can be and is used to confuse and befuddle the masses of the people.

The following editorial printed in the London Times about the time Lincoln’s greenbacks were working all right, and paying debts the same as gold; will give the reader an idea of their (the spokesmen of the money changers) opinion of “Lincoln Greenbacks” and what they felt should be done about it.

“If this mischievous financial policy which has had its origin in the North American Republic (greenback issue of money) during the late (civil) war should become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off its debts and be without debts. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the world. The brains and wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe.” (From “Who Rules America” by C. K. Howe.)

And that, dear reader, should be plain enough to inform you just what the foreign money changers thought and expected to do about it.

It is recorded that four days after the passage of the Legal Tender Greenback law, there was held in Washington, D. C, a “Bankers’ Convention” where bankers from New York, Boston, and Philadelphia were present, and one can well imagine their activity was directed to obtaining the help and assistance of certain Senators and Representatives to get that legal tender money law crippled or repealed, and another private banking monopoly established.

Right here we will take a look through the spy glass, and see if we can see “the helping hands across the sea,” that were after having such a bank to help us, and sure enough, there they are! The same old money changers from London Town, of the “Bank of England,” “The Rothschild Boys” themselves.

The money changers of “good old England,” the same crowd that helped Alexander Hamilton get his first “Bank of the United States” into action, got busy and a document called “The Hazard Circular” was distributed among the banking fraternity of America, which contained the following language:

The Hazard Circular

“Slavery is likely to be abolished by the war power, and chattel slavery abolished. This, I and my European friends are in favor of, for slavery is but the owning of labor, and carries with it the care of the laborers, while the European plan, LED ON BY ENGLAND, is that capital shall control labor by controlling wages.”

“The great debt that capitalists will see to it is made out of the war (our own Civil War) must be used to control the value of money. To accomplish this, the Government bonds must be used as a banking basis.


Does the reader need any more evidence to prove to him just who was behind the enslaving “National Bank Act?”

Does the above “circular” show a Christian attitude (that we hear so much about these days, and to which a special week is set aside to be observed by all churches) of brotherly love, in the helping “hands across the sea” or were they not reaching for our money pockets to help themselves?

It doesn’t take a Philadelphia lawyer to figure out just what the money changers were after. It is very plain that they were aiming at having the “Government’s Power to issue full legal tender greenbacks” killed, the act and power which you will remember that “The Great Lincoln” had said was the “Greatest blessing the American people had ever had bestowed upon them,” and in its place, the money changers also wanted to put the Government into an enormous indebtedness to them for bonds and get back the “power” to issue the paper money themselves on bonds.

Crooked? Criminal? Unconstitutional? Well, look around you today and see what the consummation of their activity at that time has accomplished, for right there began one of the blackest pages ever to be written into the history of our glorious country, binding our people link by link with a diabolical chain of economic slavery that can well be called the direct cause of all the grief, suffering, poverty, loss of homes, farms, business, and all the widespread unemployment we are laboring under today. Turn back and see what Thomas Jefferson, one of the men who helped to frame the Constitution, had to say about private banks issuing money.

One of the most awful, wicked, and dastardly links of this chain was soon to be forged in the removal of “America’s Great Idol” and hero, who had sprung from the ranks of the common people, to take the helm of government at the most critical time in its history, and with his great courage, honesty, and wisdom, to save the Union from dissolution and destruction.

Remember, He was the man who first proved that government could issue its own paper money, legally, honorably, and rightfully, and make it full legal tender for all debts, both public and private, and make it work as “The Greatest Blessing America Had Ever Had.”

Was he a dangerous man from the money changer’s point of view?

Was he a thorn in their sides?

Could they have continued their knavery, trickery, bribery, and destructive work and saddled upon our country a brutally diabolical law like they did, and make it stick, if Lincoln had lived?

With the help of the “Hazard Circular” and certain members of Congress, the moneyed interests soon were at the job of taking away the power of issuing full legal tender money by the Government, and the way they were able to accomplish it was the following:

The reader will remember that the money lenders are said to have demanded 24% to 36% interest from Lincoln for loans to carry on the war, an average of 30%. Well, the next time the President asked for an issue ($60,000,000 had been issued previously) of greenbacks, a monkey wrench was thrown into the machinery in the guise of an amendment to the bill —

February 25, 1862: “Exception Clause” Act passed, making the next issue of greenbacks read: Good for all debts both public and private except duty on imports and interest on Government debts.

As the reader will readily see, this clause put the government in the light of refusing its own money for duty on imports, and gave the bankers an excuse to refuse or discount that issue, which they promptly did, 30%, claiming that their clients would not take them, as they could not pay their import duty with them, therefore they were not “sound money.”

Of course, it could not be intimated that they, the bankers, had anything to do with making the greenbacks “that way.” Congress did that.

At any rate the money lenders got their “pound of flesh” in the form of the 30% discount. The propaganda and conspiracy against the greenbacks kept up and grew in strength as time went on, forcing the value of the greenbacks lower and lower, until Lincoln and his Secretary of the Treasury were compelled to surrender and call the money changers in, Lincoln remarking, so it is said, that he “could not fight two wars at the same time, the Confederates at the front and the bankers in the rear, and of the two the Confederates were the more honorable.”

One of America’s greatest patriots of that time. Senator Thaddeus Stevens, said in one of his speeches on the bill, February 20th, 1862:

“Mr. Speaker, I have a very few words to say. I approach the subject with more depression of spirit than I have before approached any question. No personal motive or feeling influences me. I have a melancholy foreboding that we are about to consummate a cunningly devised scheme, which will carry great injury to all classes of people throughout the Union.”

In talking about the matter afterwards, Senator Stevens is reported to have said:

“We had to yield; we did not yield until we found that the country must be lost or the bankers gratified.”

Nice lot of Sunday School boys, those bankers, and the Congressmen, who put it over for them. The reader may be pardoned for speculating on the kind of harps they are playing now.

Chapter 9.

The Money Changers Get Another Bank Law

AND what does the reader suppose the bankers did want? Sure, the same old thing, another bank charter and the power to issue paper money themselves, as if their paper money could be as good as full legal tender Government Greenbacks! Persistent “cusses,” weren’t they? Been working on that since 1836, and now that the country was so in the throes of a bloody Civil War, and bending every effort to save the very existence of the Union; it was the most propitious time to wring such a concession from the Government! A nice, patriotic, Christian way to act, do you say? Well, just remember that down through the centuries that same trick had been worked time and time again by the same tribe of people.

Does the reader not recall how the Bank of England got started?

Do we hear the reader saying, “Cutthroats,” “Traitors?” Well, maybe they were, it surely doesn’t look just like what a patriotic Christian gentleman would be guilty of doing, that is sure. It does seem that the citizens at that time might have been short of a good strong rope and a nice, large, strong limbed tree. The money changers not only got away with some of the Nation’s money; they seized and MADE AWAY WITH THE WHOLE SYSTEM OF MONEY.

The following excerpts taken from Judge Rutherford’s book, “Vindication,” pages 168 to 179, said to have appeared over 30 years ago in a St. Louis (Mo.) magazine and their authenticity has never been disproved, is a most complete and revealing evidence concerning this act of Congress and men connected therewith, and gives a most excellent outline of the working of the law:


“ The National Banking Law of the United States was forced through Congress of the United States and enacted by Big Business agents. The money lords of England and America dictated the conditions under which they would finance the Union because much financing became necessary during the Civil War. It is practically certain that the war between the North and the South was fomented by the money interests of Britain, the purpose being to divide the States, that the ‘Old Mother Country’ might profit thereby. John Sherman of Ohio was then a member of the United States Congress. . . . From 1860 to 1890 there was scarcely a great financial measure with which John Sherman was not connected. . . Rothschild Brothers were then the money kings of Britain. These money changers conspired with their allies in the United States in putting through the United States Congress the National Banking Act. Letters passed between Rothschild Brothers and Iklesheimer, Morton, and Vandergould, of Wall Street, New York; two of which letters, together with a circular appearing with them and which relate to the National Banking Act, are published below:

Rothschild Brothers, Bankers,

London, June 25th, 1863.

Messrs. Ikleheimer, Morton, and Vandergould, No. 3 Wall St., New York, U.S.A.

Dear Sir: A Mr. John Sherman has written us from a town in Ohio, U. S. A., as to the profits that may be made in the National Banking business under a recent act of your Congress, a copy of which act accompanied his letter. Apparently this act has been drawn upon the plan formulated here last summer by the British Bankers Association and by that Association RECOMMENDED TO OUR AMERICAN FRIENDS as one that if enacted into law, would prove highly profitable to the banking fraternity throughout the world.

Mr. Sherman declares that there has never been such an opportunity for capitalists to accumulate money, as that presented by this act, and that the old plan of State Banks is so unpopular, that the new scheme will, by contrast, be most favorably regarded, notwithstanding the fact that it gives the National Banks an almost absolute control of the National finance. ‘THE FEW WHO CAN UNDERSTAND THE SYSTEM,’ HE SAYS, ‘WILL EITHER BE SO INTERESTED IN ITS PROFITS, OR SO DEPENDENT OF ITS FAVORS THAT THERE WILL BE NO OPPOSITION FROM THAT CLASS, WHILE ON THE OTHER HAND, THE GREAT BODY OF PEOPLE, MENTALLY INCAPABLE OF COMPREHENDING THE TREMENDOUS ADVANTAGES THAT CAPITAL DERIVES FROM THE SYSTEM, WILL BEAR ITS BURDENS WITHOUT COMPLAINT AND PERHAPS WITHOUT EVEN SUSPECTING THAT THE SYSTEM IS INIMICAL TO THEIR INTERESTS.’

Please advise fully as to this matter and also state whether or not you will be of assistance to us, if we conclude to establish a National Bank in the City of New York. If you are acquainted with Mr. Sherman (he appears to have introduced the Banking Act) we will be glad to know something of him. If we avail ourselves of the information he furnished, we will, of course, make DUE COMPENSATION.”

"Awaiting your reply, we are

"Your respectful servants,


“ New York City, July 6, 1863.

“Messrs. Rothschild Brothers London, England

“ Dear Sirs: We beg to acknowledge the receipt of your letter of June 25th, in which you refer to a communication received from the Hon. John Sherman of Ohio, with reference to the advantages and profits of an American investment under the provisions of our National Banking Act.

“ The fact that Mr. Sherman speaks well of such an investment or of any similar one, is certainly not without weight, for that gentleman possesses in a marked degree, the distinguishing characteristics of the successful financier. His temperament is such that whatever his feelings may be they never cause him to lose sight of the MAIN CHANCE. He is young, shrewd, and ambitious. He has fixed his eyes upon the Presidency of the United States and is already a member of Congress. He rightfully thinks he has everything to gain both politically and financially (he has financial ambitions, too) by being friendly with men and institutions having large financial resources, and which at times, are not too particular in their METHODS, either of obtaining government aid, or of protecting themselves against unfriendly legislation. We trust him here implicitly. His intellect and ambition combine to make him exceedingly valuable to us, indeed, we predict that if his life is spared, he will prove to be the best friend the moneyed interests of the world have ever had in America.

“ As to the organization of a National Bank here, and the nature and profits of such an investment, we beg leave to refer to our printed circular enclosed herein. Inquiries by European Capitalists, concerning this matter, have been so numerous, that for convenience, we have had our views with regard to it put into printed form.

“ Should you determine to organize a bank in the City, we shall be glad to aid you. “We can easily find financial friends to make satisfactory directory, and to fill official positions not taken up by the personal representatives you will send over.

"Your most obedient servants,


This latter letter, in the paragraph next to the last, mentions a circular enclosed, and which circular is inserted here.


"Private Bankers, Brokers, Financial Agents, etc.

"3 Wall Street, New York City

“ We have had so many inquiries of late as to the method of organizing national banks under the recent act of Congress, and as to the profits that may reasonably be expected from such an investment, that we have thought it best to issue this brief circular as an answer to all questions of our friends and clients:

“ 1 — Any number of persons, not less than five, may organize a national banking corporation.

“ 2 — Except in cities having 6,000 inhabitants or less, a national bank can not have less than $1,000,000 capital.

“ 3 — They are private corporations organized for private gain, and select their own officers and employees.

“ 4 — They are not subject to the control of the state laws, except as congress may from time to time provide.

“ 5 — They can receive deposits and loan the same for their own benefit.

“ 6 — They can buy and sell bonds, and discount paper and do a general banking business.

“ 7 — To start a national bank on the scale of $1,000,000 will require the purchase of that amount (par value) of U. S. Government bonds.

“ 8 — U. S. Government bonds can now be purchased at 50 per cent discount, so that a bank of $1,000,000 capital can be started at this time with only $500,000.

“ 9 — These bonds must be deposited with the U. S. Treasury at Washington as security for the national Bank currency, that on the making of the deposit will be furnished by the government to the bank.

“ 10 — The U. S. Government will pay 6% interest on the bonds, in gold, the interest being paid semi-annually. It will be seen that at the present price bonds, the interest paid by the government itself, will of itself amount to 12 per cent in gold, on all the money invested.

“ 11 — The U. S. Government, under the provisions of the national banking act, on having the bonds aforesaid deposited with its treasurer, will on the strength of such security, furnish national currency to the bank depositing the bonds, at an annual interest of only ONE per cent per annum. Thus the deposit of $1,000,000 will secure the issue of $900,000 in currency.

“ 12 — This currency is printed by the U. S. Government in a form so like greenback money, that many people do not detect the difference, although the currency is but a promise of the bank to pay — that is, it is the bank’s demand note, and must be signed by the Bank’s president before it can be used.

“ 13 — The demand for money is so great that this currency can be readily loaned to the people across the counter of the bank at a discount at the rate of 10 per cent at 30 days’ to 60 days’ time, making it about 12 per cent interest on the currency.

“ 14 — The interest on the bonds, plus the interest on the currency which the bonds secure, plus incidentals of the business ought to make the gross earnings of the bank amount to from 28 to 331/3 per cent. The amount of the dividends that may be declared will depend largely upon the salaries of the officers that the banks vote themselves, and the character and rental charges of the premises occupied by the bank as a place of business. In case it is thought best that the showing of profits should not appear too large, the now common plan of having the directors buy the bank buildings and then raising the rent and salary of the president and cashier may be adopted.

“ 15 — National banks are privileged to either increase or contract their circulation at will, and, of course, can grant or withhold loans as they may see fit. As the banks have a national organization, and can easily act together in withholding loans or extending them, it follows that they can by united action in refusing to make loans, cause a stringency in the money market and in a single week or even in a single day cause a decline in all the products of the country. The tremendous possibilities of speculation involved in this control of the money of a country like the United States will be at once understood by all bankers.

“ 16 — National banks pay no taxes on their bonds, nor on their capital, nor on their deposits. This exemption from taxation is based on the theory that the capital of these banks is invested in U. S. securities, and is a remarkable permission of the law.

“ 17 — The secretary may deposit the public money with any bank at will, and to any amount. In the suit of Mr. Branch against the United States, reported in the 12th volume of the U. S. Court of Claims, Reports on Page 287, it was decided that such ‘Government deposits are rightfully mingled with other funds of the bank, and are loaned or otherwise employed in the ordinary business of the bank, and the bank becomes the debtor of the United States as it does to other depositors.'

“ Requesting that you will regard this as strictly confidential, and soliciting any favors in our line that you may have to extend, we are,

“ Most respectfully yours,


The reader may draw his own conclusions as to how much aid the selfish bankers had from their political allies in the United States.

And the letters seem to show plainly where the scheme was “hatched” and RECOMMENDED to our Congress. Later in the story the reader will see where another agent of the foreign money changers was in on RECOMMENDING another wonderful scheme from England and the House of Rothschild.

Chapter 10.

The National Banks Established

The new law to be called the “National Bank Act” was to work like this: The money lenders would buy government bonds for gold (which they had, and had hoarded it, creating a shortage of it in the same old way) and would then deposit the bonds with the Federal Treasury as security for nice, new, crisp paper money to be issued by the Government at the cost of printing to the amount of 90% of the amount deposited, and this money was to be guaranteed redemption by the Government in gold and silver, and the money changers were not only to get this nice, new, crisp money, but were also to draw certain interest on the bonds. The reader should refer back now, to the Charter of the Bank of England and see how much the money changers had learned in that 168 years. Evidently these boys were showing their great grandfathers up in great shape and making them look like “pikers.”

It is found, of course, that in the Bank of England charter the money changers were allowed to print their own money and were also to redeem it themselves, but here in our country, the Government was to guarantee its redemption. It must be admitted they were learning something about the “business” or “racket,” whatever the reader prefers to call it, and then again, maybe our young, struggling, hard pressed nation was easier to deal with and needed the money worse to save its very life, than did England, with its enemy France across the channel and boats scarce.

When the bill came up for passage in Congress all the old arguments of Jefferson, Jackson, and others, that had been used against the two previous acts, chartering the First, and Second, Banks of the United States, were used and many heated arguments and debates took place to no avail, as the vicious Act was finally passed and became a law, passing the Senate however, by only two votes.

The Secretary of Treasury, Salmon P. Chase, said when he saw the great error he had committed in urging the passage of the bill:

“My greatest financial mistake of my life. It has built up a monopoly that affects every interest in the country. It should be repealed, but before this can be accomplished, the people shall be arrayed on one side and the banks on another in a contest such as we have never seen before in this country.”

Chase’s prophecy was to prove only too true. However, out of recognition of him or his heirs one of the largest banks of America, made possible under this law, was named for him: “The Chase National Bank of New York.”

This Act was sponsored in the Senate by Senator John Sherman, and in the House by Congressman Samuel Hooper. It might be interesting for some one to look into the financial rating of those able statesmen and what they left when they passed on to where all good legislators go.

It was a dastardly thing to do — to saddle such an iniquitous inhuman system onto a nation, and especially when it was right in the midst of a war for its very existence. But, of course, such a thing could have been done only under such circumstances in those days, for honor in statesmanship really meant a great deal, and not so many of our people and especially our legislators, had become so badly infected by the devastating bite of the “gold bug,” and were still able to put honor above wealth.

However, Lincoln took the gold of the money changers and with it fought the bloody war to a victory for the Nation, and of course, in doing so, as a war measure he wiped the curse of human chattel slavery from our list of accepted institutions, having WITHOUT DOUBT, in the back of his mind, that once the war was out of the way, he would be better able to once more turn his attention to the money question and the money changers, as later events in this story will make clear.

Does anyone, any sane person, think for a minute that an honest man, a righteous man, with a love of country as Lincoln had, would stand for such knavery being put over on his beloved country, and not do something about it, just as soon as he could reasonably do so?

Not in a thousand years! Lincoln was not made of that kind of stuff! He was beaten for a time, but he did know that if the Union was to be saved (and that was his greatest worry) that the Government must have plenty of money to carry on the frightful war, to its quickest possible conclusion, as every day it lasted, it added its toll of human life and misery, which grieved Lincoln mightily, as can be seen by many of his speeches and writings.;

No one had grieved over the dreadful sacrifice of life and suffering more than he, and he wished the war to last as short a time as possible. There is possibly no other index that can better show the deep and sympathetic grief and compassion for the suffering and the great, just, and far-reaching breadth of Lincoln’s mind and character, and his undying love for his people, his country, and humanity at large than his Gettysburg Address, and his letter to a “Little Gray Mother” who had lost five sons in the terrible war, which are as follows:


November 19, 1863

“Four score and seven years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.

Now we are engaged in a great civil war, testing whether that nation or any nation, so conceived and so dedicated, can long endure. “We are met on a great battlefield of that war. We have come to dedicate a portion of that field, as a final resting place for those who here gave their lives that that nation might live. It is altogether fitting and proper that we should do this.

But, in a larger sense, we cannot dedicate — we cannot consecrate — we cannot hallow — this ground. The brave men, living and dead, who struggled here, have consecrated it far above our poor power to add or detract. The world will little note nor long remember what we say here, but it can never forget what they did here. It is for the living rather to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us — that from these honored dead, we have increased devotion to that cause for which they gave the last full measure of devotion — that we here highly resolve that these dead shall not have died in vain — that this nation, under God, shall have a new birth of freedom — and that government of the people, by the people, and for the people, shall not vanish from the earth.”


(A mother who lost five sons in the war.) “Mrs. Bixby, Boston, Mass.

“Dear Madam: I have been shown in the files of the War Department a statement of the Adjutant-General of Massachusetts that you are the mother of five sons who died gloriously on the field of battle. I feel how weak and fruitless must be any words of mine which should attempt to beguile you from the grief of a loss so overwhelming. But I cannot refrain from tendering you the consolation that may be found in the thanks of the Republic they died to save. I pray that our Heavenly Father may assuage the anguish of your bereavement, and leave you only the cherished memory of the loved and lost, and the solemn pride that must be yours to have laid so costly a sacrifice upon the altar of freedom.

Yours very sincerely and respectfully,



The Civil War Ends

At last the war was ended, with a sore and bleeding nation, the North jubilant in its glory, but hardly a hearthstone that did not have its share of grief and sorrow for its dead or maimed soldier, brother or father. The South, crushed to remain so for many years, for a lost cause, but one in which they believed to the very bottom of their hearts was a just one, but thanks to God, they were later to realize they really won their greatest victory when they lost the war, and were saved to remain a part of the future Greatest Nation the World has ever known.

But, thanks to the Money Barons, the government had been saddled with a bonded debt of billions of dollars, to be met with taxes for generations to come, instead of the government having been allowed to continue issuing its full legal tender greenbacks which Lincoln lauded as “America’s greatest blessing,” her own paper money to pay her own debts.

The suggestions of the English Money Changers in the Hazard Circular had been carried out to the letter, and from that time onward, the activity of these money changers and their henchmen in our Congress, were to be consistently and increasingly cunning, crafty, diabolical, and inhuman, in the different and varied laws they were to have passed; binding our people in an economic slavery that was to grow worse from generation to generation, to finally culminate in the great crash of 1929, followed by the most devastating depression the country has ever experienced.


THE CONTRACTION ACT: Authorizing the Secretary of the Treasury to issue 5% twenty (20) year bonds and with the proceeds RETIRE U. S. currency including greenbacks, and cremate, or burn them up, which caused a regular and systematic contraction of the currency in circulation; a law passed by Congress April 12, 1866.

These enemies of mankind who wished to get control of all the money of the world were consistently busy, figuring out new schemes, and polishing up their old ones, that they had used since OLD TESTAMENT days. They had done all in their power to discredit, ridicule, and discount the greenback of Lincoln’s time (the Exception Clause greenbacks) and had gotten them down in price, varying from 25 to 75 cents on the dollar. Why? Suppose you study the text of the “National Bank Act” of 1863 and see if it doesn’t permit the bankers to use greenbacks to buy the government bonds to use to deposit, to get their own money issued. Remember the Rothschild Brothers’ letter said that U. S. Bonds could be had at 50 cents on the dollar.

Would it pay the money changers to ridicule, discount, and force the exchange value of the greenback down to 35 or 50 per cent of its face value and then buy them in at that discount, and then use them at FACE VALUE to buy government bonds, on which they were able to issue greenbacks of their own? Well, dear reader, you figure it out and see what you get.

Again, would it help the money changers to get a law passed forcing the government to destroy the greenbacks, after they — the money changers — had exchanged them to the government for bonds; would that make just so much less money in circulation, and make a better demand for the paper money the bankers were allowed to issue? Figure that one out also, and see what you get. The following excerpt from “Seven Financial Conspiracies” by Mrs. S. E. V. Emery, printed in 1879, will give the reader a true and graphic record of the action and results of this, one of the most cruel and traitorous Acts ever enacted by Congress:

“ December 4, 1866, E. G. Spaulding, a Buffalo, N. Y., banker, a member of Congress, wrote to Secretary of the Treasury McCullough as follows:

“ ‘You, no doubt now, to a certain extent, HAVE CONTROL OF THE CURRENCY OF THE COUNTRY, and I think, that you will of necessity CONTRACT MODERATELY, so as to preserve a tolerable easy money market. There may be occasional spasms of tightness for money, but generally, I shall look for plenty of money for at least one year to come.’

“ When this letter was written the country was in possession of $1,906,687,770.00 currency. During this year (1866) there were but 520 business failures in the whole country, involving a loss of but $17,625,000. Labor was well paid and fully employed.”

“ 1867 — This year the work of contraction was vigorously pushed and there were 2,386 failures, with a total loss of $86,-218,000.

“ 1868 — During this year $473,000,000 of money was destroyed and failures increased to 2,608, with a loss to creditors of $63,774,000. Money began to be tight and financial spasms were frequent.

“ 1869 — During this year over $500,000,000 of money passed into the cremation furnace, producing 2,799 failures and a loss of $75,054,900. Money growing tighter and wages lower.

“ 1870 — This year $67,000,000 of money was destroyed, and 3,551 failures took place, involving a loss of $88,242,000. Money very scarce and wages of labor were reduced all over the country.

“ 1871 — $35,000,000 of money this year was retired, with 2,915 failures, and a loss of $85,250,000. More men out of work and wages cut down.

“ 1872 — Only about $12,000,000 was destroyed this year, but such had been the strain upon the business of the country for the past five years that this proved the last straw to 4,069 business firms, involving a loss of $121,058,000. More cutting of wages and strikes talked of.

“ 1873 — This year the storm reached its climax. Business men had hoped that with every returning season prospects would brighten and money would become plentiful. Instead of this, however, notwithstanding, but $1,609,000 was destroyed; the people became panic stricken, and 5,183 business firms were precipitated into bankruptcy, with a loss of $228,499,000.00. 500,000 men were thrown out of employment, wages cut down all over the country and strikes were frequent occurrences.

“ 1874 — Notwithstanding the terrible results of the past year, the winepress of contraction still creaks on its hinges of death, as round and round it sweeps out of circulation $75,-484,000. Certificates of indebtedness which have been made legal tender money, $85,760,000 Treasury notes, $6,335,045 legal tender, $3,000,000 Fractional Currency, and $1,000,000 Bank notes, producing 5,832 failures, and a loss of $155,239,000 to creditors. A million idle men began to tramp in search of work. Wages still declined and strikes were numerous.

“ 1875 — The volume of currency this year was contracted $40,817,418 and the failures reached 7,740 with a loss to creditors of $201,060,000. Two million laborers out of work. Famine and hunger began to stare them in the face, and tramping becomes a profession.

“ 1876 — According to the most reliable estimates, the contraction of the currency this year in the destruction of greenbacks and “withdrawal of bank currency amounts to about $85,000,000 with 9,092 failures and — $191,000,000 loss during the first quarter of the year. The aggregate failures of the year reached over 10,000 with losses not less than $300,000,000. This does not include losses to stockholders by foreclosure and sale of railroads.

“ What a record for ten years! Who wonders times were hard and men idle?

“ Still with all this array of wreck and ruin, with the fingerboard of contraction at the close of each year pointing to the cause, the people were asleep, or on their knees praying for some interposition of providence in their behalf, while John Sherman went marching on with the torch of death, to burn the remaining $300,000,000 of the people’s money.

“ Three million men are out of employment, bankruptcy multiplying with great rapidity. The tramp nuisance culminates. Wages are cut down to starvation prices. Strikes, riots, and general consternation seize the people, and the circulation is cut down to $606,000,000.

“ 1877 — The red torch of the vandal lighted up the country from Pittsburgh to Chicago. These are the footprints of the red-mouthed despots, the money power, which is still forging chains for the limbs of American industry, with a view to enslaving the American populace by robbing them of their homes and firesides, and then controlling their life, liberty, and pursuit of happiness by controlling their wages through the control and monopoly of money.

“ 1878 — The volume of currency shrank to $11.23 per capita and this year the number of failures reached 10,478; amount of liabilities $234,383,132. But this year gave us remonetization of silver in the Bland Bill, two to four millions a month of silver dollars to put in circulation which began to flow out at the close of the year.

“ 1879 — Was the year of specie resumption; per capita, $12.65. The increased silver brought us the boom of 1879, failures dropped down to 6,658; liabilities $98,000,000.

“ 1880 — The boom was walking on. Increase of currency through silver is doing its work, the failures have shrunk to 4,735; liabilities only $65,000,000. But the latter part of this year there was an attempt to frighten Congress by the bankers, known as the bankers’ rebellion of 1880, and they contracted their loans very heavily and when money is scarce the contraction of credits is equivalent to a contraction of volume of currency and the consequence was that the volume ran down to $10.23 per capita.

“ 1881 — Failures increased to 5,582, liabilities at $81,000,-000. But confidence was in full blast and business was booming on confidence, immigration was increasing and consequently the volume of currency was shrinking but credits were more than taking its place.

“ 1882 — The volume had increased a little, per capita to $11.97; but the strain for money was great and failures increased to 6,738; liabilities $101,000,000.

“ 1883 — The volume per capita was $11.48. Credit is so largely in excess of cash that the strain is increasing, failures were 9,184; liabilities, $173,000,000.

“ 1884 — The volume of money per capita this year is given as $10.17. Failures, 10,910; liabilities, $226,000,000, and the country is piling up credit preparatory to a tremendous smash.

“ 1885 — Volume of money per capita $8.90. Failures 11,212, liabilities $267,340,264. The papers are declaring there is lots of money, but business is mainly done on expanded credit.

“ 1886 — Volume of money per capita $7.64. Failures 12,292; liabilities $229,288,238. Business is lagging, credits are not being pushed and failures are falling off a little.

“ 1887 — Volume per capita $6.67. Failures, 12,042; liabilities $835,121,888. Credits still growing.

“ 1888 — Little change in the volume of money. Credits that have taken place of money are being urged. Failures, 13,348; liabilities, $247,659,156.

“ 1889 — No change in volume; tendency to push credits. Failures, 13,277; liabilities, $312,496,742. A tendency to still push credits.

“ 1890 — The last year looked dangerous, credits are enormous, but the time is not yet ripe to pluck the goose, but something must be done.

“ John Sherman comes forward with the fourth act of his silver demonetizing scheme, known as the ‘ Sherman Bill.’ This repealed the ‘Bland Bill’ and gave to the country a forced purchase of four and a half million ounces of silver per month and the putting in circulation of silver certificates to that amount. That increased the currency two and a half million dollars per month over the best the secretary would do with the ‘Bland Bill.’ This increase of currency stimulated trade, strengthened credits and business boomed, more on credits than on cash by many times, yet the increase of cash had a good effect and brought the failures down to 10,672; liabilities, $175,032,826.

“ 1891 — The volume of credit is expanding beyond the limit of reason and cash is in great demand. As a business man I find I can discount bills and buy goods at almost my own figures for cash. But I found myself warning everybody to stand from under, that bubble is about to burst. Increased business, from the stimulant of a little more money and failures increased to 12,394; liabilities, $193,178,000.

“ 1892 — There is as yet no material change except that everything looks shaky, like a great balloon inflated and ready to soar or collapse. Many business houses are shaky. There are signs that the business people are trying to hedge, preparing for the storm, failures, 10,270; liabilities, $108,595,248.

“ But the blow is yet to come.

“ Ricardo, an eminent writer on political economy said: ‘That commodities rise in price in proportion to the increase or diminuation of money. I hold that to be a fact that is incontrovertible. ’

“ John Stuart Mill, another authority, said: ‘If the whole volume of money in circulation were doubled prices would double.’

“ The Money Commission, created August 15th, 1876, consisting of three United States Senators, three members of the House, and three Secretaries, made a report March 2, 1877, in which appear these words: ‘That the disaster of the Dark Ages was caused by decreasing money and falling prices, and that the recovery therefrom and the prosperity, which followed the discovery of America, were due to an increasing supply of the precious metal and rising prices will not seem surprising and unreasonable when the noble functions of money are considered.

“ ‘Money is the great instrument of association, the very fibre of social organism, the vitalizing force of industry, the protoplasm of civilization and as essential to the existence as is oxygen to animal life.

“ ‘Without money civilization could not have had a beginning, and with a diminishing supply it must languish and unless relieved finally perish.

“ ‘Falling prices and misery and destitution are inseparable companions. It is universally conceded that falling prices result from the contraction of the money volume.’ (U. S. Monetary Commission, Vol. 1, page 50.) And again on page 51:

“ ‘The highest moral, intellectual and material development of nations is promoted by the use of money, UNCHANGING IN ITS VALUE.’

“ Here we have the conclusion of nine prominent statesmen, who, after an exhaustive examination emphatically declare that the ‘true and only cause’ of the calamities that had befallen the people was the ‘shrinkage of the volume of money.’

“ To whom shall we charge these calamities that have come upon us like a flood? Is it the extravagance of the people. Is it because too many of the necessaries of life have been produced? Because the farmer has been too industrious and prudent, or the manufacturers employed too many laborers in the production of his commodities? Is it because millions of children are employed in the mines and factories of the country, barred every blessing and privilege of childhood? Is it because the saloon is sucking away the substance of thousands of families, and bringing desolation into their homes? Is it because women are selling their souls to keep their bodies from starving, or because a band of train robbers are infesting the country and sending terror into hearts of the people?

“ No, it is none of these circumstances that have brought such disaster to our country, but it is our selfishness and criminal legislation that has overwhelmed us with these alarming conditions !” The following table taken from the “Chicago Inter-Ocean of Chicago,” a leading Republican paper of Illinois of that time, will show very graphically the extent of the contraction of the currency during those awful years of manipulation of the Nation’s money by the traitorous acts of the legislators paid to protect the people but instead sold out to the money changers:

YearCurrencyPopulationPer Capita
1865 $1,651,282,37334,819,581 $47.42
1866 1,803,702,726 35,537,148 $50.76
1867 1,330,414,677 36,269,502 $36.68
1868 817,199,773 37,016,949 $22.08
1869 750,025,989 37,779,800 $19.85
1870 740,039,179 38,588,371 $19.19
1871 734,244,774 39,750,073 $18.47
1872 736,340,912 40,978,607 $17.97
1873 733,291,749 42,245,110 $17.48
1874 779,031,589 43,550,576 $17.89
1875 778,176,250 44,896,705 $17.33
1876 735,358,832 46,234,344 $15.89
1877 696,443,394 47,714,829 $14.60

The Credit Strengthening Act

Then, again the money changers came to the rescue (?) of the Nation and another law was passed on March 18, 1869, called the Credit Strengthening Act, but just whose credit it strengthened Ave shall soon see. This bill made the Bonds that the money changers had been able to buy up with depreciated currency, payable in gold, at face value! Now whose credit was strengthened? The Government that exchanged the Bonds at face value for depreciated currency, which was burned up, and then forced to redeem the Bonds in gold; or the money changers who had traded depreciated greenbacks at face value for the bonds and then were able to get full value in GOLD for the Bonds? Figure that one out also.

July 14, 1870 an Act was passed pretending to be one “Refunding the National Debt.” A scheme postponing the payment of the National Debt regardless of the fact that the United States Treasury had on hand one-half the needed amount to pay it off. This continued the usurious bonded load on the people.

Can the reader imagine anything more rank and vile and crooked to have put over on a nation that trusted in the integrity of the citizen legislators paid by the people to aid and protect them, but who instead, it would seem, sold out the nation to the foreign money changers?

That sort of carrion surely deserve all that is coming to them both here and hereafter, and one of these tine days there is a bare possibility that the American people are going to be awakened to the rotten crookedness that goes on “behind the scenes” in the halls of Congress, and make a real housecleaning, and when they do there will be much “weeping and wailing and gnashing of teeth!” And how!

Chapter 12.

The Gold Standard Established and Silver Coinage Killed — or — “The Crime of 73”

Next came the diabolical Act, known as the “Crime of '73,” which was called an “Act Revising and Amending the Laws Relative to the Mints, Assay Offices, and the Coinage of the United States.” It passed the House May 27, 1872, and the Senate January 17, 1873.

This Act, as well as the National Bank Act of 1863, was sponsored in the Senate by John Sherman, and in the House by Samuel Hooper. Practically every monetary measure of mention from 1860 to 1890 and especially if it was to get more privileges for the bankers, was sponsored by this same Senator John Sherman. It might be interesting and worth while for someone to look into the financial standing of these two gentlemen down through the years and see how they fared as friends of the money changers while being paid to serve and protect the people while in Congress.

There are volumes of evidence to prove that this was one of the most vicious of the many money laws that have been slipped over on our Nation, by slippery money changers, and Congressmen, to enslave us to the foreign money changers of England and Germany.

The subject is treated exhaustively and most interestingly in the form of a novel, in a volume called “A Tale of Two Nations,” by W. H. Harvey of Monte Ne, Arkansas, who was one of the staunch supporters of W. J. Bryan in 1896.

The ruling-class and “big business” of England urged on and backed up by the money changers of the Bank of England who had never forgiven nor become reconciled to America’s freedom after the struggle of 1776 and 1812, and who had done all in their power, short of actual military help to the Southern Confederacy, now perceived their chance to control our money system and thereby control our country just as effectively as owning it and with no responsibility, as the Hazard Circular had said about Chattel Slaves.

The money changers had already been able to demonetize silver in England, Holland, and Germany, and thereby cut their volume of currency in half or more, and made all debts payable in gold, and they (the money changers) of course, owned the gold, and they decided to do likewise to America. So they sent an agent, Ernest Seyd, over here with $500,000.00 to do the trick, which was accomplished with the help and connivance of a few members of our National Congress and possibly a very few other persons.

That the reader may see for himself the truth of the above statement, we will quote from the speech of Senator Daniel of Virginia, May 22, 1890, in Congress, and to be found in the Congressional Record, page 5128, of that date. He said:

“I take from the Bankers Magazine of August, 1873, a little extract. It says, ‘In 1872 silver being demonetized in Germany, England, and Holland, a capital of 100,000 pounds ($500,000.00) was raised and Ernest Seyd was sent to this country with this fund as agent for foreign bond holders to effect the same object (demonetization of silver)’.”

With special permission from the author, Mr. Andrae B Nordskog, we quote from his book, “Spiking the Gold,” another document of immense importance, which would seem to be full and adequate proof of the foregoing matter.

“ One of the most astounding documents ever to be recorded in connection with this legislation of 1873 is the affidavit made by Mr. Frederick A. Luckenbach and acknowledged before Mr. James A. Miller, Clerk of the Supreme Court of the State of Colorado. This astounding affidavit follows:

“ ‘State of Colorado

“ ‘County of Arapahoe

“ ‘Frederick A. Luckenbach, being first duly sworn on oath, deposes and says: I am 62 years of age. I was born in Bucks County, Pennsylvania. I removed to the city of Philadelphia in the year of 1864, and continued to reside there until 1866, when I removed to the city of New York. In Philadelphia I was in the furniture business. In New York I branched into machinery and inventions, and am the patentee of Luckenbach’s new pulverizer, which machines are now in use generally in the eastern part of the United States and Europe. I now reside in Denver, having removed from New York two years ago. I am well known in New York. I have been a member of the Produce Exchange and am well acquainted with members or that body. I am well known by Mr. Erastus Wyman.

“ ‘In 1865, I visited London, England, for the purpose of placing there Pennsylvania oil properties, in which I was interested. I took with me letters of introduction to many gentlemen in London, among them one to Mr. Ernest Seyd from Robert M. Foust, ex-treasurer of Philadelphia. I became well acquainted with Mr. Ernest Seyd, and with his brother, Richard Seyd, who, I understand is still living. I visited London thereafter, every year, and at each visit renewed my acquaintance with Mr. Seyd, and upon each occasion became his guest at one or more times — joining his family at dinner or other meals.

“ ‘In February, 1874, while on one of these visits, and while his guest for dinner, I, among other things, alluded to rumors of parliamentary corruption, and expressed astonishment that such corruption existed. In reply to this, he told me that he could relate facts about corruption of the American Congress that would place it far ahead of the English Parliament in that line. So far, the conversation was at the dinner table between us. His brother, Richard, and others were there also, but this was table talk between Mr. Ernest Seyd and myself. After dinner ended, he invited me into another room, where he resumed the conversation about legislative corruption. He said, “If you will pledge me your honor as a gentleman not to divulge what I am about to tell you while I live, I will convince you that what I said about American Congress is true.” I gave him the promise and then he continued: “I went to America in the winter of 1872-3, authorized to secure, if I could, the passage of a bill demonetizing silver. It was in the interest of those I represented — the GOVERNORS OF THE BANK OF ENGLAND — to have it done. I took with me 100,000 pounds sterling ($500,000.00 United States money) with instructions that if it was not sufficient to accomplish the object to draw for another 100,000 pounds or as much more as was necessary.” He told me that the German bankers were also interested in having it accomplished. He said: “I saw the committees of the House and Senate and paid the money and stayed in America until I knew the measure was safe.” I asked if he would give me the names of the members to whom he paid the money — but this he declined to do. “Your people will not now comprehend the far reaching extent of that measure, but they will in after years. Whatever you may think of the corruption in the English Parliament, I assure you, I would not have dared make such an attempt here as I did in your country.” I expressed my shame to him, for my countrymen in our legislative bodies. The conversation drifted into other subjects and after that — though I met him many times — the matter was never again referred to.

“ ‘(Signed) Frederick A. Luckenbach.

“ ‘Subscribed and sworn to before me at Denver, this ninth day of May, A. D. 1892.

“ ‘(Signed) James A. Miller

“ ‘(Seal) Clerk Supreme Court,

“ ‘State of Colorado.' “


The extent and serious consequences as pointed out by Mr. Luckenbach, of the “Crime of 73,” while one of the most vicious and wicked pieces of trickery ever “put over” on Congress and by them, onto the people, was not to be realized for a considerable time by the majority of Congress, nor even by the President. This was so favorable to the money changers that with the help of the banks, scattered throughout the country and with the influence they could wield with their power of loans, they have been able to keep Congress from repealing the law.

That Congressman Samuel Hooper had dealings with this agent of the money changers, Ernest Seyd, is clearly shown by his own speech when introducing the bill in Congress April 9, 1872. What he said may be found in the Congressional Globe of that date; and in part is as follows:

“Mr. Ernest Seyd, of London, a distinguished writer, who has given great attention to the subject of mints and coinage, after examining the first draft of the bill, furnished many valuable suggestions which have been incorporated in this bill.”

Does that look conclusive — or — does it not?

Of course, when the scheme was made clear to the American bankers that the law would destroy the free coinage of silver, and make it just that much easier, and advantageous for them to loan their National Bank Notes, the paper money that cost them only fifty cents for a hundred dollars, they naturally were for such a law and did all in their power to uphold it.

But in order that the reader may see for himself what the Senators and Congressmen had to say about the bill being passed fraudulently, and how Samuel Hooper plainly and intentionally misled his brother legislators when the bill was under discussion, and also what the Congressmen of after years have said about the bill, we will quote them from the Congressional Record, reproduced in “Spiking the Gold” by Mr. Andrae B. Nordskog:

“The Congressional Record of the 45th Congress, second session, volume 7, part 2, page 1605, records the statement of Judge Kelly of Pennsylvania, who said in part:

“ 'I was ignorant of the fact that it (the revision of the Coinage Act of 1873) would demonetize the silver dollar or of its dropping the silver from our system of coins as were those distinguished Senators, Messrs. Blaine and Voorhees, who were then members of the House, and each of whom, a few days since, interrogated the other: “Did you know it was dropped when the bill was passed?” “No,” said Mr. Blaine, “Did you?” “No,” said Mr. Voorhees. “And I do not think there were three members in the House that knew it!” '

"The Congressional Record, Volume 7, part 1, page 260, 45th Congress reveals that Senator Beck of Kentucky said regarding this bill: ‘It (the bill demonetizing silver) never was understood by either House of Congress. I say that with full knowledge of the facts. No newspaper reporter — and they are the most vigilant men I ever saw in obtaining information — discovered that it had been done.’ ”

In the Congressional Record of the 44th Congress, first session, volume 4, part 6, Appendix, page 197, Joseph Cannon said:

“This legislation was had in the forty-second Congress, February 12, 1873, by a bill to regulate the mints of the United States, and practically abolish silver as money by failing to provide for the coinage of the silver dollar. It was not discussed, as shown by the Record, and neither members of Congress nor the people understood the scope of the legislation.”

“ And so even old Uncle Joe certifies to this generation that the demonetizing of silver was accomplished because our Congressmen and the people did not understand the nature of the bill. In the Congressional Record, volume 4, part 6, 44th Congress, first session. Appendix, page 193, Mr. Holman of Indiana, said:

“"I have before me the record of the proceedings of this House on the passage of that measure, which no man can read without being convinced that the measure and the method of its passage through this House was a ‘colossal swindle.’ I assert that the measure never had the sanction of this House, and it does not possess the moral force of law.”

The Congressional Record, July 13, 1876, volume 4, part 5, page 4560, reveals that Mr. Burchard of Illinois said:

“The Coinage Act of 1873 unaccompanied by any written report upon the subject from any committee, and unknown to the members of Congress who, without opposition allowed it to pass under the belief, if not assurance, that it made no alteration in the value of the current coins, or changed the unit of value from silver to gold.”

Senator Voorhees of Indiana, Congressional Record, January 15, 1876, page 332, declared:

“The silver dollar is peculiarly the laboring man’s dollar as far as he may desire specie * * * throughout all financial panics that have assailed this country, no man has been bold enough to raise his hand to strike it down; no man has ever dared to whisper of a contemplated assault upon it and when the 12th day of February, 1873, approached the day of doom to the American dollar, the dollar of our fathers, how silent was the work of the enemy. * * * Its enactment there was as completely unknown to the people and indeed to four-fifths of Congress itself as the presence of a burglar in a house at midnight to its sleeping inmates.”

The Congressional Record, volume 7, part 1, second session, 45th Congress, page 584, reveals that Mr. Bright of Tennessee said:

“It (the bill demonetizing silver) passed by fraud in the House, never having been printed in advance, being a substitute for the printed bill; never having been read at the Clerk’s desk, the reading having been dispensed with by an impression that the bill made no material alteration in the coinage laws; it was passed without discussion, being cut off by operation of the previous question. It was passed, to my certain information under such circumstances that the fraud escaped the attention of the most watchful as well as the ablest statesmen in Congress at the time. * * * Aye, sir, it was a fraud that smells to heaven.”

“ On page 208 of the Congressional Record of December 14th, 1877, is found a reproduction of a letter to Representative Mr. Coudray, from President Grant, dated October 13, 1873, eight months after the President had signed the bill, in which the President said in part:

“I wonder that silver is not already coming into the market to supply the deficiency in the circulating medium. Experience has proved that it takes about $40,000,000 of fractional currency to make the small change necessary for the transaction of the business of the country. Silver will gradually take the place of this currency, and further, will become the standard of values. * * * Our mines are now producing almost unlimited amounts of silver, and it is becoming a question, ‘What shall we do with it?’ I here suggest a solution which will answer for some years to put it into circulation, keeping it here until it is fixed, and then we will find other markets.”

“ The Congressional Record of December 14, 1877, on page 206, shows the statement made by Senator Herford wherein he said:

“I now come to one of the most remarkable and to my mind one of the most fraudulent pieces of legislation this or any other country ever saw. I refer to the manner of the passage of the bill demonetizing silver. I will not occupy the time of the Senate by going over the whole history of this iniquitous transaction. Mr. Hooper, since deceased, was at that time chairman of the committee having charge of a bill which had been referred to his committee, and on May 27, 1872, reported a substitute and moved to suspend the rules and pass the substitute, upon which motion, among other things, the following occurred which any Senator can find by turning to the Congressional Globe, part 5, page 3883.”

“ Senator Herford then submitted the debate which took place between Mr. Hooper of Massachusetts and other Congressmen at the time that Mr. Hooper succeeded in getting action on the substitute bill (which had not even been printed and submitted to members of the House) through suspension of the rules. Mr. Hooper stated, when asked by other Congressmen whether or not this substitution bill affected the re-coinage of small coins such as the dollar, that:

“ This bill makes no change in the existing law in that regard. It does not require the re-coinage of small coins.” On this boldly fraudulent statement, 110 members voted in favor of the bill and only 13 against it; those opposing it doing so mainly because they did not have the privilege of hearing the original bill read alongside of the substitute which very trickily eliminated the free mintage of silver as will be shown a little later on.

“ The smooth Englishman who was alleged to have spent $500,000 bribing the American Congress in order to demonetize silver, did his work very effectively; so effectively that the wisest at our National Capital did not detect the crime until the law was put into operation.

“ This law was “An Act Revising and Amending the Laws Relative to the Mints, Assay Offices and Coinage of the United States”, and reads as follows:

“(a) That the gold coin of the United States shall be one dollar a piece, which at the weight of twenty-five and eight-tenths grains shall be the unit of value.

“(b) That the silver coins of the United States shall be a trade dollar, a half dollar or fifty-cent piece, a quarter-dollar or twenty-five-cent piece, a dime or ten-cent piece, and said coins shall be a legal tender at their nominal value for any amount not exceeding five dollars in any one payment.

“(c) That no coins, either of gold or silver, or minor coinage, shall hereafter be issued from the Mint, other than those of the denominations, standards and weights herein set forth.”

— (Statutes, 424) ("A,” “B,” and “C” designations by author.)

“ It will be noted upon re-reading the Act above quoted in paragraph “c” that no coins, either of gold or silver should thereafter be issued from the Mint, other than those of the denominations, standards and weights herein set forth. And upon referring to paragraph “a” you will note that the weight of the gold was provided for; but when you read paragraph “b” again, you will notice that the weight of the silver is very carefully eliminated. This was the crux of the demonetization scheme.

“ On page 258 of the Congressional Record of January 11, 1879, we find Senator Beck of Kentucky saying:

“I know that the bondholders and monopolists of this country are seeking to destroy all the industries of this people in their greed to enhance the value of their gold. I know that the act of 1873 did more than all else to accomplish that result, and the demonetization act of the Revised Statutes was an illegal and unconstitutional consummation of the fraud. I want to restore that money to where it was before, and thus aid in preventing the consummation of their designs.”

The evidence is there from many reputable men, in government records, the reader may form his own conclusions. The shackles of Economic Serfdom grow stronger and stronger as years pass by, more legislation is slipped through Congress by the use of millions of hard earned money, filched from the hands of the American laborers and farmers, under crooked and branded unconstitutional laws, which were made for, and do operate for the benefit of the foreign money changers and against the interest of all American producers. Hardly a decade passes, but another link is added to the golden chain that holds us in an economic bondage.

One could hardly better describe “Civilization After 20 Centuries of Christendom” than by this passage of Ferrero (Greatness and Decline of the Roman Empire, Vol. 1, p. 223): “The Imperial Democracy that held a world beneath its sway, from the Senators who have historic names, down to the humblest tiller of the soil, from Julius Caesar down to the smallest shopkeeper in a back street of Rome, was at the mercy of a small group of usurers.” (Frederick Soddy: Wealth, Virtual Wealth and Debt, page 185.)

Chapter 13.

The People Clamor for More Money

By the time 1877 had rolled around the economic pressure had increased until the money changers were becoming frightened at the clamor for more money in circulation, and the talk of the good old full legal tender greenbacks of “Honest Abe.”

People could not get over the fact that Lincoln had produced that kind of greenbacks for them, and they were just as good as gold anywhere, and couldn’t understand why it could not be done again. Of course, the money interests howled about its shin plasters of the civil war period, and how low in value they had sunk, not telling the people, of course, that they (the money changers) had caused the exception clause to be placed in the act creating them, and giving the money changers their excuse to discount them. Furthermore, do not forget, dear reader, that the bankers all over the country by then were issuing “their own” paper money or National bank notes, and they surely didn’t want competition from Uncle Sam in manufacturing paper money. No, siree! That would be “unsound” money and that wouldn’t do at all for the “dear peepul.”

The Money Changers Give Their Orders

The howl of the people for more money became so great in 1877, that the American Bankers Association of 247 Broadway, New York City, thought it time to be up and doing for themselves. So it seems their secretary, Mr. James Buel, sent a circular letter to all their members that read like the following:

“Dear Sir:

"It is advisable to do all in your power to sustain such prominent daily and weekly newspapers, especially the Agricultural and Religious Press, as will oppose the greenback issue of paper money and that you will also withhold patronage from all applicants who are not willing to oppose the government issue of money.

"Let the government issue the coin and the banks issue the paper money of the country; for then we can better protect each other. To repeal the Act creating bank notes, or to restore to circulation the government issue of money will be to provide the people with money and will therefore seriously affect our individual profits as bankers and lenders.

"See your Congressman at once and engage him to support our interests that we may control legislation.” (By permission from “Who Rules America,” by C. K. Howe.)

Well, there it is in all its nakedness, telling the whole story. The bankers all over the country must sustain the farm and religious papers and withhold loans from the borrowers who wouldn’t oppose the government issue of “greenbacks” which greenbacks would do the awful thing of providing the people with money without interest, and thereby keep the profits of usury — the “vicious,” “wicked” custom that had been practiced by money changers and was condemned by all great thinkers from Moses down — from the poor bankers.

Then again, the bankers all over the country were to work on their Congressmen and get them to support the interest of the manipulating bankers, that they might control legislation, when they, the Congressmen, were elected and paid by the people to support and protect the people’s interests.

That letter should be in the hands of every voter in America, or, better still, a law should be passed compelling every banker to have it placed in a large readable type on his front window, to thereby show what his real assets are, and without which he could not exist, namely, control of newspapers and magazines, and browbeating their customers to make them work on their Congressmen, and putting pressure on the Congressmen, themselves, in order to control legislation and to have special acts passed, giving them (the bankers) SPECIAL PRIVILEGES.

Some press comments of that time. (We wonder who owned these papers.) New York Tribune, January 10, 1878:

“The capital of the country is organized at last, and we will see whether Congress will dare to fly in its face.” The next day it says:

“The time is near when they (the banks) will feel themselves compelled to act strongly. Meanwhile a very good thing has been done. The machinery is now furnished by which, in any emergency, the financial corporations of the East can act together at a single day’s notice, with such power that no act of Congress can overcome or resist their decisions.”

They knew what the contraction of the volume of money would do and started in to educate the people to the idea of submissive slavery. About the same time that the above appeared, the following appeared in the New York World:

“The American laborer must make up his mind henceforth not to be so much better off than the European laborer. Men must be content to work for less wages. In this way the working man will be nearer to that station in life to which it has pleased God to call him!”

A little later in our story, the reader will see where the American farmer was to be put in his place as a peasant.

Following the demonetization of silver in 1873, there had been the worst panic the country had ever experienced, and there was a growing demand for money, and many indeed were clamoring for good old “Lincoln Greenbacks” of full legal tender. So, to stop them and to quiet the country there was passed in 1878 an act called the Sherman Law (Old John again) which allowed the Secretary to purchase and coin a limited amount of silver.

Chapter 14.

The Money Changers Order a Panic

The money changers now wanted to get rid of this and all other money that was not National Bank notes, so it is said, that on March 11, 1893, a circular letter to become known as the “Panic Circular of 1893,” was mailed to National Banks by the American Bankers Association. This circular gives the reader the “real goods” on the operation of the legislative influence and control by the money changers. The circular read as follows: “Dear Sir:

The interest of the National Banks require immediate financial legislation by Congress. Silver certificates and treasury notes must be retired and National Bank Notes upon a gold basis made the only money. This will require the authorization of 500 millions to 1,000 millions of new bonds as the basis of circulation. You will at once retire one-third of your circulation and call one-half of your loans. Be careful to make a monetary stringency among your patrons, especially among influential business men. Advocate an extra session of Congress to repeal the purchasing clause of the Sherman Law and act with other banks of your city in securing a large petition to Congress for its unconditional repeal per accompanying form. LTse personal influence with your Congressmen and particularly let your wishes be known to your Senators. The future life of national banks as fixed and safe investments, depends upon immediate action as there is an increasing sentiment in favor of Government legal tender notes and silver coinage.”

(From “Who Rules America,” by C. K. Howe.)

Does the reader begin to see just how Congressmen and Senators come to vote for laws favoring the money changers and detrimental to the people? Can you still believe that they (our legislators) work for us, who pay them? Or can you begin to see how we get “sold down the river.”

The next big fight with the strongly intrenched money changers came in 1896 when the “Great Commoner,” William Jennings Bryan, ran for President on the “Free Silver” issue on the Democratic Ticket.

Mr. Byran had been in Congress from Nebraska, and was a delegate to the National Democratic Convention at Chicago in 1896, and there made the great emotional appeal in his “Crown of Thorns and Cross of Gold” speech which won him the nomination for the presidency. Bryan was trying to get the “crime of '73” law repealed and again have the government coin all the silver brought to the mints, free of charge, as it always had been, previous to 1873.

This could not be permitted; so the bankers showed the people that gold was quite sufficient for money; there was plenty of it; they shoveled out millions of dollars in gold over the country to prove their case. They made the psychological appeal of “the full dinner pail” and among other things, so it is said, induced the manufacturers and industrialists to inform their employees that if Bryan was elected all factories and plants would close and there would be no work. This chicanery enabled them to beat Bryan by the small margin of a half million votes.

Up to 1906 the Democratic Party had always been known as the Party of the People, and had not been ruled entirely, at least, by the large interests and money changers. After that time, however, it made no difference which party one voted for, both were the same, about the only difference being the slogan used in their campaigns.

Since that time both parties have sponsored and adopted measures like the Initiative and Referendum, which in former years had been found only in the Socialist Party platform. Many of these reforms, especially if they didn’t amount to much and especially if they didn’t operate against privately owned money systems, were tolerated. But let any man come out and start something against the money changers’ private racket, and just as surely was he crucified socially and politically at least, and especially as to his character. This is done today the same as it has been practiced down through the centuries; even as Christ was crucified on Calvary, for driving the money changers from the Jewish Temple for their manipulation of money there.

Chapter 15.

Another Valiant Lindbergh

One of the most persecuted of these crusaders for the right of the masses to a decent living was none other than the father of America’s great Ace, “Lindy,” Charles A. Lindbergh, Sr. His books “The Economic Pinch” and “Why Is Your Country at War?” were said to have been suppressed by the Department of Justice during the World War, but by his introduction of a most scathing and revealing resolution in Congress in December, 1912, concerning the investigation of the money Trust, he was instrumental in defeating one of the most vicious and piratical acts of money legislation ever offered up to that time; an Act to create what was to be known as the National Reserve Association, a measure somewhat like the later bill, the Federal Reserve Act. This was sponsored by Senator Nelson W. Aldrich of New York and Congressman Edward B. Vreeland, a banker of New York. The Bill was to confer upon this association the arbitrary and despotic right to issue money and control bank credit for fifty years.

And does the reader ask himself if the Aldrich that is the son-in-law of John D. Rockefeller and chairman of the Board of the Chase National Bank of New York, the bank that on its 50th birthday had resources just 1,000 times as large as they were on its first statement, is the son of that Nelson W. Aldrich? Well, it seems that is true, and that at least one son is well taken care of, but possibly the last page of the history concerning our financier congressmen has not been written.

An extract from Congressman Lindbergh’s book regarding the Aldrich-Vreeland Bill is herewith included, to show you the type of man and the courage of this, one of America’s most courageous of American servants, in the halls of Congress. Contrast him with some you have read about previously in this narrative and thank God that once in a while we get a real man in Congress.

The following is an extract from the book, “Banking and Currency and The Money Trust,” by Congressman Charles A. Lindbergh, Sr.:

“ When the Aldrich-Vreeland Emergency Bill was sprung in the House in its finished draft and ready for action to be taken, the debate was limited to three hours and Banker Vreeland placed in charge. It took so long for copies of the Bill to be gotten that many members were unable to secure a copy until a few minutes of the time to vote. No member who wished to present the people’s side of the case was given sufficient time to enable him to properly analyze the Bill, I asked for time and was told that if I would vote for the Bill, it would be given me, but not otherwise. Others were treated in the same way.

“ Accordingly on June 20, 1908, the Money Trust won the first fight and the Aldrich-Vreeland Emergency Currency Law was placed on the statute books. Thus was the first precedent established for the people’s guarantee of the rich man’s watered securities, by making them a basis on which to issue currency. It was the entering wedge. We had already guaranteed the rich man’s money, now, by this Act, the way was opened, and it was intended that we should guarantee their watered stocks and bonds. Of course, they were too keen to attempt to complete it in a single act, such an enormous steal as it would have been if they had included all they hoped ultimately to secure. They knew that they would be caught at it if they did, and so it was planned that the whole thing should be done by a succession of Acts. The first three have taken place.

“ Act No. 1 was the manufacture, between 1896-1907, through stock gambling, speculation, and other devious methods and devices of tens of billions of watered stocks, bonds, and securities.

“ Act No. 2 was the panic of 1907, by which method those not favorable to the money trust could be squeezed out of business and the people frightened into demanding changes in the banking and currency laws which the Money Trust would frame. (Note again reason for panics and hard times — author.)

“ The Act No. 3 was the passage of the Aldrich-Vreeland Emergency Currency Bill by which the money trust’s interests would have the privilege of securing from the Government currency on their watered stocks and securities. But while the Act contained no authority to change the form of the Bank notes, the U. S. Treasurer (in some way that I have been unable to find reason for) implied authority and changed the form of bank notes which were issued for the banks on Government bonds. These notes had hitherto printed on them, ‘This note is secured by bonds of the United States.’ He changed it to read as follows: ‘This note is secured by bonds of the United States and other securities.’ ‘Or other securities’ is the addition that was secured by special interests.

“ The main thing, however, that the Money Trust accomplished as a result of the passing of this Act was the appointment of the National Monetary Commission, the membership of which was chiefly made up of bankers, agents, and attorneys, who have generally been educated in favor of, and to have a community interest with Money Trust. The National Monetary Commission was placed in charge of the same Senator Nelson W. Aldrich and Congressman Edward B. Vreeland, who respectively had charge in the Senate and House during the Act creating it.

“ The Act authorized this commission to spend money without stint or account. It spent over $300,000.00 in order to learn how to form a plan by which to create a greater money trust, and it afterwards recommended to Congress to give this proposed trust a fifty year charter by means of which it could rob all humanity. A bill for this purpose was introduced by members of the Monetary Commission and its passage planned to be the fourth and final act of the campaign to completely enslave the people.

“ The fourth act, however, is in incubation only, and it is hoped by that time, we realize the danger that all of us are now in, for it is the final proposed legislation which, if it succeeds, will have us in the complete control of the moneyed interests. History records nothing so dramatic in design, nor so skillfully manipulated, as this attempt to create the National Reserve Association (writer’s note: now the Federal Reserve System) otherwise called the Aldrich plan — and no fact or occurrence contemplated for the gaining of selfish ends is recorded in the world’s records which equal the beguiling methods of this colossal undertaking. Men, women, and children have been equally unconscious of how stealthily this greatest of all giant octopuses — a greater Money Trust is reaching out its tentacles in its efforts to bind all humanity in perpetual servitude to the greedy will of this monster.

“I was in Congress when the panic of 1907 occurred, but I had previously familiarized myself with many of the ways of high financiers. As a result of what I discovered in that study, I set about to expose the Money Trust, the world’s greatest financial giant. I knew that I could not succeed unless I could bring the public sentiment to my aid. I had to secure this or fail. The money trust had laid its plans long before and was already executing them. It was then, and still is TRAINING THE PEOPLE THEMSELVES, TO DEMAND THE ENACTMENT OF THE ALDRICH PLAN OR A BILL SIMILAR IN EFFECT. Hundreds of thousands of dollars had already been spent and millions more reserved to be used in the attempt to bring about a condition of public mind that would cause demand of the passage of the bill. If no other methods succeeded, it was planned to bring on a violent panic and rush the bill through during the distress which would result from the panic. It was figured that the people would demand new banking and currency laws; that it would be impossible for them to get a definitely practical plan before Congress when they were in an excited state and that as a result, the Aldrich Plan would slip safely through. It was planned to pass that bill in the Fall of 1911 or 1912.”

(From “Who Rules America,” by C. K. Howe.)

Well, dear reader, the above from the Great Lindbergh’s book surely gives it to us straight. No wonder it was suppressed. Sad to relate this bill spoken of by Lindbergh was later to be passed by Congress and called the Federal Reserve Act. (By others more properly called the Federal “Robbers” Act.) This is the law under which we live (or starve) today.

Chapter 16.

The Money Changers Add Another Link to the Golden Chain

Well, we find it was only a short ten years until the money changer was back to Congress for another big slice of special privilege.

But how to get it? We were not at war with anybody, so the bankers simply drew money from circulation and called loans and refused new loans, and noised it about that money was tight — and a panic ensued. There was a brand new emergency, all made to order and working fine! And “Oh boy, Oh boy,” say the bankers and money changers, “We have just got to rescue our country or it will all go to the dogs, BUT if we do this, we will just have to have more — money; you know money is “tight” and hard to get, and we have just about got all the money from Uncle Sam on the Government bonds that we can (and besides, those Government bonds are too high, we simply can’t afford them). BUT, we have a whole vault full of nice yellow corporation bonds that we have kindly floated in the last ten years and if you (to our Congress) will just permit us to turn these over to the Treasury and issue us nice new National Bank notes on these bonds, then we can loan out the nice new money and ‘save the country.’ But you will have to hurry, no time to lose, never can tell what will happen.”

So Congress hurried and passed the Aldrich-Vreeland Emergency Law giving the money changers their law, and the Secretary of the Treasury (kindly, without any authority in the bill) changed the wording on the New National Bank notes to read: “This note is secured by bonds of the United States or other securities,” instead of just “By the United States Bonds.”

And believe it or not he got away with it. Marvelous! Wasn’t it? Wouldn’t the reader say that trick makes him one of the Money Changers’ Club? Can’t you imagine how proud his descendents will be of him when they find out the above facts about him?

The reader will please refer again to the two reasons why we have good times and “easy money” and hard times and “tight money.” You can see it worked again.

And then, that Emergency Law? Who was in a bad fix? The people? No! They were well and busy trying to make both ends meet, but the poor bankers, they had loaned all their money out at such legal usurious interest compounded that strange as it may seem, it not only ate up all the principal, but mortgaged all the available property. Then the banks had to create the emergency so they could foreclose a lot of farms, businesses, and homes. In other words, they had to liquidate their self created jams in order to clear the decks for further loans. With the panic, they could scare Congress into giving them another special privilege.

Well, some day maybe the poor dumb American people will wake up to this kind of “racket” and when they do — but we must get on — for it won’t be long now before the money changers will have all that new money loaned out and they will have another NEW special privilege framed up into the securing of which they will attempt to scare and bribe Congress.

But who is this our long range telescope picks up at the rail of the Great Steamer, plowing up the Hudson into New York? We will just peep over his shoulder when he shows his passport. Jumping Jehosaphat, would you believe it? None other than Paul M. Warburg, himself! The Jewish banker right from the holy of holies of all money changers — Temples on the Rhine at Frankfort, Germany, the Rothschild Temple, itself! Well, now maybe this fellow can “figger” out something in the way of money-changing for us over here, what with all our periodical shortage of money. Not only can he, dear reader, but he does! And how! Of course, he speaks a little broken, but his arms are all right so he gets along first rate.

And then 1912-1913 came along and, said the bankers to the people who asked loans, “You know, boys, I can let you have only half as much money as you will need on the new work you have planned; you know, money is getting pretty “tight” again, and you know these dreaded ‘business cycles’; they just keep coming around, can’t be helped, though, I guess. Kinda like poor people and taxes; guess we will always have them with us!”

“ But did you hear of that new bill up before Congress, that ‘feller’ Glass tells about? Calls it the Federal Reserve Act, or something like that. And what do you think,” said the slippery banker, “if we just had that law passed, we would never have any more ‘tight money’ and hard times. You fellers better write your Congressmen and Senators to be sure to vote for it, and maybe soon you can get the other half of the loan you want to go ahead with your work.”

And by multiplying that conversation by millions and getting the ‘kept press’ to ballyhoo night and day, and all the Chambers of Commerce in the front row with the boosters and greeters association, seconded and parroted by all the service clubs all over the country, the mighty Federal Reserve Act, the ultimate of the ultimates, the last word in banking and death to all panics and hard times, was passed December 23, 1913.

And now, in 1934, who do you suppose we hear lauded as the father of the Federal Reserve System? Give up? Well, believe it or not, Mr. Paul M. Warburg, himself; none other. The gentleman who was coached and trained by the high priests of the money changers in all the intricate and complicated money manipulation trickery known to the “House of Rothschild on the Rhine” and who had been in our country only six or eight years before he became the “father” of the “monstrosity” (The Federal Robbers Act).

And does it work, this money changers’ last word in banking practice? Does it make panics impossible? Does it make money plentiful at all times? Does it keep our farmers and industries running at a paying rate? Well, dear reader, look about you and see the effect of the “last word” put over on us by the “House of Rothschild” and decide for yourself.

It is said in well informed circles now that the Federal Reserve System was especially prepared for us, and rushed through Congress just in time to have it working smoothly so WE COULD FINANCE AND PAY FOR THE GREAT WORLD WAR, that they, the Morgans, the Warburgs, the Schiffs, the Kuhns, Loebs, the Seligmans, the Monds, the Sassoons, the Rothschilds, and other Money Changers of their kind are said to have had in preparation boiling and stewing for years and were just about ready to cut loose, and which was “cut loose” in August, 1914. And they claim to pray to the same God that we do! Certainly it must be that the same God can never favor them and us at the same time, under such an inhuman system as the Federal Reserve System has proven to be.

Chapter 17.

The Federal Reserve

To begin with, the Federal Reserve System in spite of the name, “Federal,” is a PRIVATELY owned banking system.

NOT ONE dollar of stock in the system is owned by our government as the name would imply.

Will the reader kindly let his mind travel back to the founding of the FIRST big LEGAL bank spoken of in an earlier chapter, the Bank of England? Same story — privately owned. Then again, the First Bank of the United States — the same thing again. Sounded like the government owned it, didn’t it? And again, the Second Bank of the United States, ditto — privately owned. Then later, a slight change, but still confusing and misleading. The National Bank Act, allowing charters of “National Banks.” The same old thing again. Deception — make believe — confusion. Then the crowning glory of all “The Federal Reserve System” or as some people call it, “The Federal Robber System.” The same old stuff again, and if the reader will start asking his acquaintances who o\\tis the Federal Reserve Bank he will likely be surprised at the great number of people that really believe that they are owned, or at least controlled, by our Federal Government. So the idea of the name really works, and does as it is intended to do — confuse and mislead the people into thinking the banks are owned by the government.

Well, the foreign money changers should know what will and what will not work. They have had uninterrupted experience since the establishment of the Bank of England. Deception, make-believe, confusion have ever been among the chief tools of the money changers.

The reader’s attention is again called to the ADVANCEMENT in methods, and what the Money Changers had gotten out of the Government in the way of laws and privileges compared to what they received with their charter for the Bank of England.

You will remember, of course, that at first, they were not so far removed from the time it was a heavy fine to loan money at usury, and near the time also when the old Jewish money changer had seven teeth extracted, one each day, until he paid his fine for practicing usury; so they were naturally more timid in those days. But as time went on, and more and more people borrowed money, and also as more and more people got into the loaning business, it became semi-decent and finally is now considered as “honorable” business, at least by some. Can you beat it? But to get on with the matter of privileges asked of the government by the money changers with the passing of the years:

The Bank of England loaned all its capital to the government and was allowed to print and issue (themselves) an equal amount of currency but remember, the Bankers had to print their own money and also redeem it themselves, in gold and silver, and were allowed to loan it only once.

The First and Second Banks of the United States charter allowed the banks to deposit government bonds with the Treasurer, which the bank got interest upon, and the banks were allowed to issue currency on the bonds which currency was printed for the banks by the government at a cost of $62.50 for $100,000.00 in currency and they were charged only one-half (Vo) of one (1%) per cent by the government, so the reader can readily see that if the banks had not loaned a cent of the new money, they would have been ahead anyway.

Then the National Bank Charter provided for the bank to have 90% of the value of the bonds deposited issued to them in currency, printed at cost by the Government and redeemable by the Government. This was soon changed to 100% issue of currency. Then what? Hold on to your hat, dear reader! They were, through the checking system, allowed to loan this money, not once or twice, but seven to ten times over each year, by not being compelled to keep more than 10% average of the money on hand at any time for a reserve.

Well, that was so easy and worked so well that they soon got the same privilege with their Depositor’s money! Then that wasn’t enough! Next, they got as you will remember, the privilege of putting up commercial or corporation bonds to issue currency against bonds that they had been able to buy at most any old price from nothing to something, instead of having to buy government bonds. But still it was so easy, they might just as well have more and bigger and better “privileges.”

So comes Mr. Warburg, from the “House of Rothschild on the Rhine” and what small privilege does he, as a foreign money changer of the worst type (for us at least) figure out as a proper thing for the dumb American farmer and laboring man to give him and his gang of banketeers?

Well, friends, this is the beginning of one of the blackest chapters of our beloved America’s history.

If we, as American citizens, descendants of the valiant patriots of Bunker Hill and Valley Forge and New Orleans, are able to extricate ourselves from this awful mess of a banking privilege and mire of bonded indebtedness, it will simply be because we arise in our wrath and hurl these foreign money changers from the “House of Rothschild on the Rhine” and London right back to where they came from and with only what they came here with, and nothing more!

"Privileges” of the Federal Reserve Banks

To begin with, the Federal Reserve Banks not only got a charter to do banking, but a right to make all National Banks join their system and also to deposit 6% of their total capital and surplus with the Federal Reserve Banks TO GIVE THEM A FUND OF MONEY TO DO BUSINESS WITH.

Think of it! Such a colossal nerve. And they get away with it. The Act also provided that State banks may “join up” with the Federal Reserve System on like terms. It is a wonder they didn’t make the State banks give them half of their capital!

What the money changers were after, of course, was absolute control of all banks in the United States, and they are fast getting them, as many of the State banks, so it is said, have been forced into the system in one way or another.

The following most excellent outline of the operation of the Federal Reserve System is quoted with permission from the book “Spiking the Gold” by Andrae B. Nordskog, and will give the reader the real “low down” on the “Act,”


“ When a member bank applies to the Federal Reserve Bank for re-discount on its commercial paper, such paper must be accompanied by 40% in gold; that is, if an application is made for a loan of $1,000 collateral consisting of 60% commercial paper and 40% of gold must be deposited with the Federal Reserve Bank. On this collateral the Federal Reserve Bank may apply to the United States Treasurer for the issuance of $1,000 worth of Federal Reserve notes; in exchange for this new currency the Treasurer may require a deposit of not to exceed 5% of the gold included in the 40% deposit held by the Federal Reserve Bank. The law does not say that the Treasurer may require 5%, it merely says that he may require not to exceed 5%; so he may, according to law, reduce this requirement to one-half of one per cent, or to nothing if he thinks this is the discreet thing to do. And this is all of the protection that is given to the people of the United States in exchange for the billions of dollars worth of currency which is turned over to the private corporation, known as the Federal Reserve Bank which is controlled by the Wall Street bankers.”


On each Federal Reserve Note is printed the following: ‘Redeemable in Gold on demand at the United States Treasury or in gold or lawful money at any Federal Reserve Bank.’ and in letters many times as large is printed THE UNITED STATES OF AMERICA will pay to the bearer on demand FIVE DOLLARS.’ The Federal Reserve Bank may, within an hour after receiving new crisp Federal Reserve Note currency from our U. S. Treasury go back to the Treasury and demand Uncle Sam’s GOLD in exchange for the currency, only an hour before issued to the Federal Reserve Bank for as small a deposit as 5% or less of gold; and this 5% of gold is kept in the vaults of the Federal Reserve Bank and not in the U. S. Treasury according to the statement made to the author by an officer of the Federal Reserve Bank. This 5% of gold, if that much is laid aside for this kind of security, is held in the vaults of the Federal Reserve Bank by the Federal Reserve

Agent who acts as a go-between for the Federal Reserve Bank and the Government; this agent is appointed by the Federal Reserve Board; his salary is paid by the Federal Reserve Bank and he has his office in the Federal Reserve Bank.

“ It will be noticed that the inscription on the Federal Reserve Notes provides that the notes are redeemable ‘in gold on demand at the United States Treasury,’ but they are redeemable in gold or other lawful money at any Federal Reserve Bank.' The significance of this subtly worded but well defined discrimination may not be apparent at first glance; but when you consider that in trying to obtain gold for these notes at the Federal Reserve Bank, you may be advised that you cannot obtain gold, and that you will have to accept other kinds of paper money which is termed lawful money; you may then begin to see the reason for this provision in the law. The Federal Reserve Bank may take these same notes to the United States Treasury and demand Uncle Sam’s GOLD and get it, even down to the last available dollar which may be in the Treasury vaults. The Federal Reserve Bank may then take this gold from Uncle Sam’s vaults and ship it to foreign countries; the Federal Reserve Bank has sent gold abroad to the tune of hundreds of millions of dollars; having shipped at times, at the rate of more than 100 million dollars in gold per week to other countries. It has been repeatedly said by the daily press of this country that Uncle Sam has FIVE BILLION DOLLARS in gold stored in the vaults in Washington, D. C.; the fact is, that it is less than that by THREE BILLIONS of dollars; recent reports show that it has been approximately one billion, seven hundred million dollars which is held by our U. S. Treasury, and, should the Federal Reserve Bank want to do so, it could call in its issue of Federal Reserve Notes and demand gold from our Treasury in exchange therefor and deplete our gold supply.”


“ The Act also provides that national banks may deposit U. S. Gold Notes in lieu of gold with the Federal Reserve Bank in exchange for an issue of Federal Reserve Notes; in this way the bank making such application to the Federal Reserve Bank may convert a 40% currency supply into a 100% supply by accompanying the 40% gold deposit with 60% of commercial paper and by this method increase its earning power 150% over the old system. A bank with $100,000 worth of U. S. Gold Notes could increase its currency supply to $250,000 by obtaining Federal Reserve Notes, and, by resorting to the common practice of loaning out the bank’s credit to the extent of ten dollars for each dollar it possesses, could increase its loaning powers from One Million Dollars to Two and One-Half Million Dollars.”

The reader can readily see by the foregoing that about all the “privileges” left for the money changers to ask for, would be to have a nice brass ring put into each one of our noses, in order that they could absolutely “control” the most minute action of each individual. But there may just be a few clauses in our good old Constitution, that the foreign money changers are not entirely familiar with, and then again there may yet somewhere be just a few sparks of the old love of home, and liberty, and country alive in our land, and such things may grow fast and furious when fanned too strenuously by the dominance, arrogance, and contempt of the same Foreign Money Changers.

Chapter 18.

The World War

The World War came on as per schedule, financed at the expense of the American farmer, laborer and other classes that bought bonds “till it hurt” and all through the entire holocaust, the money changers were taking their millions of blood money, to swell their ever growing loot, and to bind the nations of the whole earth in a morass of indebtedness the like of which the world had never before witnessed, all as per schedule also.

The War end, found Germany and her Allies prostrate and helpless, and the international trade of England, France, Germany, and other nations practically annihilated, as all efforts of the combatants had been exerted to win the War. Then the territory of the Central Powers was divided into numerous small nations, later to be proven also to have been engineered by and for the purposes of the International Money Changers.

Russia was politically destroyed and her Royal Family and hundreds of thousands of intelligentsia or upper and educated and professional people were murdered, and other millions forced to starve — all in order that a serfdom might be fastened upon that nation in the name of “Communism,” said to have been accomplished with money furnished by the International Money Changers, as part of their world plan of conquest.

America then, of all Nations, with her greatly accelerated and developed “production line” factories, was in a premier position to be further exploited in the guise of a “Foreign Trade Racket.”

The trade of other Nations, before mentioned, at a standstill, our factories were “tuned up” and our most efficient “Bond Salesmen” were also “tuned up” and we were sold Billions of foreign bonds from all over the world, to enable the foreign countries to buy our merchandise! We were completely propagandized into trading our “birthright” of natural resources, manufactured into usable articles, for a mess of Foreign Pottage not even of gold, but of beautifully lithographed PROMISES TO PAY GOLD! And they mostly remain promises today!

“ Will the reader pause and shut his eyes for a moment and try to visualize anything more ridiculous and asinine? Can’t do it? No, and no one else can, now that it has happened. And who do you suppose engineered the DEAL of unloading all those Billions of Dollars worth of Foreign Bonds upon a trusting American public? Ask the Senate Investigating Committee about such things, they know. The House of Morgan, the Fiscal Agents for the Bank of England, and other foreign Money Changers, including Seligman Brothers, Kuhn, Loeb & Co., Dillon, Read & Co., together with many other “Big Money” boys were proven through their powerful banking connections to have apportioned the bonds out to smaller banks all over the country, and they had no choice, but accept and peddle their apportion to an unsuspecting and propagandized public, who had been led to trust them.

And did the smaller banks come out handsomely in the end with their helping of the Foreign Money Changers’ Racket? Well, to date, records show that one-third of all banks in the United States, some 10,000, have gone broke in the last ten years! “He that lives by the sword, shall perish by the sword,” seems to work out here, doesn’t it?

During the World War, the Federal Reserve System had brought about an inflation of the currency by the great power that the Federal Reserve Act had given them, and by 1920, on June 30th, the Federal Reserve “money” or “greenbacks” issued by them stood at $3,250,173,000.00. This had, of course, put wages up, and prices of all commodities as well as land values, as that little thing of an adequate supply of money is all that the American people have ever needed to bring about so-called “Good Times” and prosperity.

So, when the Federal Reserve had “dished out” the money, high prices and high wages were the order of the day. But this was not to last. The money changers had floated billions of stocks and bonds and they wanted to float billions more, so commodities must come down, that is, what the fanner had to sell !

In seven years operation the Federal Reserve Banks had been able to do pretty well for themselves, as by 1920 they had worked up their net earning power to about 160 per cent as an average for the twelve banks. Not bad for a start, was it?

The original Federal Reserve Act was not entirely sordid — in it was a trace of kindly feeling for poor old Uncle Sam, for he was to get about half of the net earnings. They soon got over this, however, with a series of “amendments” enacted by a “friendly” congress (we wonder what it cost to keep them friendly). The act now gives the Federal Reserve banks all their earnings, and leaves poor old Uncle Sam only the “privilege” of making for them (the Federal Reserve Banks) the nice new greenbacks at practically no cost, for them to loan out to Uncle Sam’s “boys” and “girls.”

Chapter 19.

"American Peasants"

In the meantime, however, when the World War closed, the American farmer was “sitting pretty,” so he thought, but the money changers had other plans for him: Two Dollar Wheat, Four Hundred Dollars an Acre Land, and other prices in proportion, were not to be thought of for the farmer. Wasn’t he just a “Clodhopper,” who worked around in the dirt and raised things? Why should he have all these good things that such high prices could get for him? Automobiles, telephones, silk shirts, and some of them even bath tubs! The very idea of those “hicks” having such things! Indeed, as Mr. Barney Baruch, the “behind the scenes advisor” of many presidents, is said to have declared, “Europe has her PEASANTRY — WHY SHOULDN’T AMERICA?” And so the money changers proceeded to start the American farmers on their way to being a PEASANT CLASS!!

That was in 1920, and the “modus operandi” or the “how to do it” was by the way of DEFLATION!

And how do you suppose, dear reader, that this deflation business can be carried out? Your memory, at this time, must be refreshed again quoting paragraph 15 of the circular sent out by Ikelhiemer, Morton and Vandergould, bankers of New York, quoted previously as to the privileges of the banks, given them by the National Bank Laws:

“National Banks are privileged to either increase or contract their circulation at will and, of course, grant or withhold loans as they see fit. As the banks have a national organization and can easily act together in withholding loans or extending them it follows that they can by united action in refusing to make loans, cause a stringency in the money market and in a single week cause a decline in all the products of the country. The tremendous possibilities of speculation involved in this control of the money of a country like the United States, will be at once understood by all bankers.”

The reader will see by the above article that the Money Changers surely had the power to do as they pleased with the money system of our country, and also knew just what the consequences would be. That article, of course, was written about the “National Bank Act” of 1863, but, of course, it would work vastly better under all the increasing privileges and powers since obtained from Congress by the Money Changers and still better with all the power the Federal Reserve Banks were able to wield over the other banks of the Nation.

Now to do it and not get caught at their nefarious work was to take a little more deception and make believe, even though it was to cost a few million dollars. What was a few million dollars to the “Federal Robbers System” (pardon our mistake) Federal Reserve System, when all they had to do was “let” the Government issue it for them. Besides, the reader must not forget that we still had at the time the highly trained (in the inner shrine of the Money Changers’ Temple, the “House of Rothschild on the Rhine") Paul M. Warburg.

He with his “sidekick,” Eugene Meyer, could surely work out something that the dumb American public would stand for and not get too curious about. In this connection the reader will be well rewarded by turning again to the two circulars on pages 73 and 74 of this book, said to have been put out by the Secretary of the American Bankers Association from their office in New York, one in 1877 and the other in 1893, telling the bankers throughout the country just what their part would be and how to do it.

Chapter 20.

The Money Changers Take the United States to the Cleaners

So the Money Changers organized a “corporation” to do their dirty work, presumably because corporations do not have “souls,” and would not have to go to hell and burn forevermore, as the Money Changers might have to do. This corporation was called the “Bankers’ Statistics Corporation” and it was to hire wise-looking professors “that needed the money” and other “economic experts” to cook up a lot of “statistics” and reports to use as an “Anesthetic Argument” on those little bankers and on the public to make the banker help, and the public believe, be still, and not “holler.”

This plan, of course, was to do the deflating by “classes,” starting with the farmers, to make a “peasant” class out of them, knowing, of course, if they deflated the whole country at one time, some “smart guy” might get wise and “spill the beans”! We find a most excellent description of this episode by Mr. Nordskog in his book “Spiking the Gold,” which we quote as follows:

“ The Carnegie Institute created a department of Economics and set aside a fund of $1,600,000.00 for this work; Mr. Warburg was made one of the trustees of the fund. The Bankers Statistics Corporation employed Professor E. W. Kemmerer of Princeton University, well known economic expert, to make an analysis of the proposed deflation program and he presented his views in the form of a book which was later used by the Federal Reserve Board as a semi-official document to guide that board over the rough seas of deflation.

“ The introduction to Professor Kemmerer’s book was written by Frank A. Vanderlip, former president of the National City Bank of New York, and Mr. Vanderlip says, in part:

“ ‘Professor Kemmerer shows why prices must ultimately come down and POINTS OUT THE POLICY TO BE PURSUED IN ORDER TO BRING ABOUT DEFLATION. There are no more important questions demanding our attention today than these, and an effort to put them squarely before the public in simple, clear and conclusive manner is worthy of the highest praise and the great success. Professor Kemmerer’s book is a most useful contribution to a very vital subject.’

“ In his book (which is entitled High Prices and Deflation) Professor Kemmerer says:

“ ‘In general it has taken it (the wealth) from the creditor and given it to the debtor.’

“ He was referring to the inflation of currency which was made possible under the Federal Reserve Act which was to act as a panacea for all economic ills; but they found that it was so good for the working people of this country and the business-men (shopkeepers as the Wall Street bankers called them) that it was deemed most expedient to take this newly-found wealth away from the debtor class and put it into the pockets of the creditor class, the bankers. The Professor, in referring to the dangers confronting the debtor class in deflating currency, says:

“ ‘Among the evils of falling prices so strongly featured in the monetary discussions of the last two decades of the nineteenth century, three stood out prominently. They were:

“ *(1) The injustice of a falling price level to the debtor class.

“ ‘(2) The depressing effect of a falling price level upon business.

“ ‘(3) The influence of a falling price level in reducing the demand for labor and thereby increasing unemployment and depressing wages.

“ ‘A falling and prospectively falling price level is depressing to business. It throws a wet blanket over industry.

“ ‘The third evil result of a substantial and continuing decline in the price level is its harmful effect upon the welfare of labor. This is a natural result of the depressing effect upon business just described. “When business holds back in anticipation of falling prices, the demand for labor declines and men are laid off. Increasing unemployment causes hardship and is a potent factor in forcing down wages and weakening the hold of trade unions on their men. Labor naturally resists wage reductions, even though the price level is falling, and this means that a period of falling prices is likely to be characterized by many labor troubles.’ ”

The reader can readily see by the foregoing that the Federal Reserve Bankers knew just what they were about, and knew all the troubles “deflation” would cause, but, of course, Professor Kemmerer said prices ultimately must come down and even told them how, so “of course it wasn’t their fault” if things went wrong.”

And believe it or not, right in their “book of knowledge” by Professor Kemmerer as quoted, we can also see the wherefore of the new name for a “deflationary period.” Heretofore we had always had just “hard times” or “panics,” but since there was to be a “bigger and better” one, it must have a new name, so the Money Changers casually lifted it out of the “kindly” Professor’s book. Note what he says are the three “evil features” of a deflation: “The DEPRESSING effect of a falling price level upon business,” “DEPRESSING wages,” and “DEPRESSING business.” And that just about covered everything, thought the Money Changers, so they called it a “DEPRESSION!”

On May 18, 1920, the Money Changers of the higher “Denomination” had a “deflation party” or meeting in Washington, D.C. Again quoting from “Spiking the Gold” by Mr. Nordskog, on that meeting:

“ Mr. James A. Alexander, president of the National Bank of Commerce of New York City, attended this deflation meeting and urged an immediate deflation of currency by at once raising the re-discount rate from the prevailing rate of 6% to 7%. Mr. John T. Scott, president of the First National Bank of Houston, Texas, did not agree with Mr. Alexander that ‘credit was a luxury and hard to get,’ but urged a program of deflation; he said, ‘I think we should, and must bring about a reasonable degree of deflation or contraction.’ He further stated to his fellow bankers:

“ *I see nothing in the situation to justify the fear of such a commercial crisis or financial catastrophe as we had either in 1873 or in 1890, or 1907. If anything of that sort comes, IT WILL BE OUR FAULT. THE FAULT OF THOSE who are in charge of the banking and commercial interests of the country, and I do not believe they are GOING TO BUNGLE IT.’

“ In this we concur, we have no quarrels with the bankers on this point; they stated that if their deflation program resulted in a catastrophe, THEY ALONE WOULD be to blame for it; and they should be made to face the music. The loss to the farmers alone on account of this deflation program, considering the drop in land values and low price levels, has been in excess of FIFTY BILLIONS of dollars, or nearly double the cost of our participation in the World War.

“ The bankers caused our appraised property values to drop from more than 300 BILLION DOLLARS down to 150 BILLION DOLLARS. They thought they would not bungle it, but they did BUNGLE IT; and bungled it terribly; they have ruined our nation. If you do not think so, just take a look at one of our major cities, Chicago, which today is admitted by its own public officials to be hopelessly bankrupt. On May 1, 1932, there was an aggregate amount of 690 million dollars due in taxes in Chicago and Cook County, of which 340 million dollars has been past due since 1928, 1929, 1930, and 1931. With two-thirds of the value squeezed out by the deflating-bankers the taxpayers are paying a tax rate three times as high as it was before the deflation took place, that is why it is difficult if not impossible for them to pay their taxes.

"$520,000,000 Deflation in 1920"

“ The race was on; the bankers adopted the deflation program; in less than a year they had withdrawn 520 million dollars from circulation; that was in actual cash (currency. Federal Reserve notes) which was destroyed. In 1921 the same amount was withdrawn from circulation and destroyed in the same manner. Later withdrawals brought it up to a total of two billion, nine millions of dollars at one time; and to these cash withdrawals must be added the withdrawals of the credit which are based on the cash; during a period of fifteen months from the fall of 1930 and including the fall of 1931 the banks withdrew credits to the tune of more than eight billions of dollars. Considering that we had a total cash circulation of approximately five billion dollars before the deflation program began, the withdrawals amounted to 40% of all our cash. This left us but 60% of the money with which to buy goods which it had cost 100% to produce. The natural law caused price levels to drop. When the money is lifted out of one side of the scale, that side will go up, and the other side containing the price of wheat will go down. That is why $3.00 per bushel wheat went down to 17 cents. The index of commodity prices, compared to the pre-war index of 1, stood at 1.54 in 1920, but was hammered down under the pressure of the bankers’ deflation program to .68 in 1931; this included a list of more than 550 different commodities including real estate.

40,000 Commercial Failures Estimated in 1932

“ In 1920 there were but 8,800 commercial failures in the United States. Following the withdrawal of one billion, forty millions of dollars in 1920 and 1921 and the destruction of this money by the Federal Reserve Bank there were 16,500 commercial failures in 1923; the number of failures steadily increased under the deflation program and in 1931, there were 26,500, and according to a recent report in Dun’s Review, commercial failures are taking place in the United States in 1932 at the rate of 40,000 per year; this includes some of the largest and oldest business concerns in America.” After the reader has finished the foregoing and still is unable to see just how the Banker and Money Changer is able to get control of all the money, we will just mention the little word USURY, that is the heart of the whole business, as is most clearly shown in Elliot’s work on Usury, page 182, and reads as follows:

“One cent loaned January 1 A. D. 1, drawing interest at the rate of 6% compounded annually, on January 1, 1895, would amount to $8,498,840,000,000,000,000,000,000,000,000,000,-000,000,000,000. (8,497,840,000 decillions of dollars). To pay this in gold 23 and 1/10 grains to the dollar, using it in spheres of pure gold the size of the earth, would take 610,070,000.000,-000,000 such spheres to pay the debt.”

The following are the sums that $1.00 will amount to in 100 years, loaned at the rates of interest mentioned and compounded annually:

At 1 per cent 2.75
At 2 per cent 19.25
At 3 per cent 340.00
At 10 per cent 13,809.00
At 12 per cent 1,174,405.00
At 18 per cent 15,145,207.00
At 24 per cent 251,799,494.00
And at 50 per cent it would eat up the world.

Cannot the reader now understand upon reflection why it was that all through the 1920 to 1929 period, farmers were all having a bad time, and why all the banks in the farming communities were going broke, while manufacturers were going “big” and stock and bond sales and the stock market were booming?

The answer is that the Money Changers of the High Temple of the Federal Reserve ("Robber") System were deflating the farmers through the farm banks by forcing them to call loans and curtail loaning privileges. And the rest of the country was to follow when they, the Money Changers, had successfully propagandized them all into mortgaging all their assets and buying worthless foreign bonds, and time payment automobiles, and frigidaires, etc., etc. In October, 1929, this being effectively accomplished, they set their “Bears” to work on the Stock Exchange selling “short” and down went “McGinty,” the Stock Market, to the bottom of the “Pit.”

The reader can no doubt well remember that, and the newfangled “hard times” we have had ever since, euphoniously called the “Depression.”

Of course, there were a few who escaped the 1929 “crash” with a little money, so the Money Changers slowed the “crash” down from time to time with wonderful messages like “Prosperity is just around the corner,” and “Rockefeller and Morgan are now buying large blocks of stock,” thus baiting the remaining suckers back into the market and “cleaning” them also.

And then along comes Mr. Roosevelt with a “New Deal.” “By Golly,” says the “D. A.” (Dumb American), “that sounds good, that may be just what we need.” Not stopping to ask himself if he could eat it, wear it, or otherwise raise a family on a “New Deal.”

Then March 4, 1933, rolls around and we find the banks in a race seeing who could close first!

Twelve to seventeen million men out of work, and one hundred and twenty million out of patience, and with not much of anything left but “hope.”

President Roosevelt obligingly started to work with the banks by closing all of them, and proceeded to “muff” the greatest chance a single human being has ever had, to do a grand and noble thing for his country, the one great thing our country has needed badly since 1863, when the immortal Lincoln was forced under the stress of a civil war to accept the accursed National Banking System of the Foreign Money Changers.

And that one thing was, while he had the banks all closed, simply to take the whole country into his confidence on the radio and tell them (the people) the real truth about the Money Changers, and their nefarious banking schemes, and ask Congress to pass a law taking over all banking by our government and issuing money in the form of FULL LEGAL TENDER GREENBACKS, loaning it out to business and industry at cost, and starting great public works programs with it also.

He could have had all of the great mass of people and a great share of the large bankers themselves, and 75 per cent of the smaller ones with him body and soul, and a returning prosperity such as we have never before witnessed, the gratitude of the entire nation, and later the whole civilized world, as soon as other people saw how it would work.

Does the reader ask, “Why in the world didn’t he do it?” Well, dear reader, do not feel lonesome, other millions have asked and still ask, the same question, and likely future generations will still be asking — “Why?”

After a time all the banks that still had any money left were allowed to open, but the thousands with “frozen assets” stayed closed. “Frozen Assets” — now that is a new kind of an “Asset,” in the financial field, isn’t it? It is said that the way they came to be called “frozen assets” was when so many of the smaller banks ran out of money and were called on for their loans at the Federal Reserve, they would take various assets of corporation stocks and bonds, and pretty foreign bonds to the Federal Reserve and ask for “loans” on them, or “re-discount” as it is called. All they received from the Federal Reserve Banker was an “icy stare,” no cash! So those “no loan” assets became known as “frozen assets.” Many millions of individuals seem to be burdened with these “frozen assets” they cannot get a loan on.

The next big thing in the New Deal was labeled N.I.R.A. The critics of this part of the “New Deal” have this to say of its action: “It ruins the small business man by suspending the action of the Sherman Anti-Trust Act against collusion and price fixing; permits a great deal of the new activity known as “Chiseling,” raises prices of commodities to the consumer without giving him more money with which to buy, and thereby lowers sales volume. Consequently it hinders instead of helps business.”

The New Deal seems to have been planned with the same idea as the money racket, namely, the scarcer a thing is the higher prices one can get for it. The “brain trust” seems never to have thought of a way in which a “consumer,” the really “Forgotten Man,” would be able to buy more commodities at an increased price, to employ more men, in factories to make more commodities, to sell, to get more money to employ more men, etc., without he, himself, the consumer, getting more money with which to buy. But perhaps we forget! Maybe the “Brain Trust” meant to start the “buying” by the government borrowing money to pay the farmers for seven millions of hogs to be killed and put into fertilizer or into the river, and to plow up millions of acres of wheat and cotton so he (the farmer) could grow less, and have less income to buy more commodities, at a high price — but no, that doesn’t make sense ! No, certainly not! Neither do most other plans put forth so far, for a “planned recovery” by “evolution.”

Chapter 21.

The Gold Bill

Then, along comes the “Gold Bill,” heralded as a real measure to raise commodity prices (so that we can buy more of them without more money with which to buy), “devalue” the dollar, stabilize the money value in relation to foreign money and what not.

As this is a rather complicated matter, it may be well to leave its analysis to a man who has had many years of experience in such matters and has been paid by the people for it, and earned his salary, having been chairman of the Banking and Currency Committee of the House of Representatives of the United States Congress for some years, and should certainly know what he is talking about, the Hon. Louis T. McFadden, Representative from Pennsylvania, the same gentleman who, when opposed for re-nomination by the forces of the Money Changers, was, by being able to tell his constituents the simple truth, re-nominated, and returned to Congress, not only on his own ticket, the Republican, but also the Democrats’.

Since fellow citizens of his home state have so much confidence in him, may we not listen to him with respect and see how the Gold Bill will work? This speech was made before Congress on January 24, 1934, and may be found in the Congressional Record of that date (but not in the newspapers; do you wonder why?).

Mr. McFadden said:


Seventy-third Congress, Second Session

Franklin D. Roosevelt, the Apostle of Irredeemable Paper Money


of Pennsylvania

In the House of Representatives Wednesday, January 24, 1934.

Mr. McFadden. Mr. Chairman, a citizen of the United States has asked me to explain for his benefit and for the benefit of other United States citizens the real meaning of the Roosevelt gold bill, the bill which the House passed last Saturday by 360 votes to 40, with 32 Members not voting.

Mr. Chairman, a law against the Constitution is void. The gold bill creates a nullity. Old John Marshall said that the words of the Constitution are not to be twisted out of their plain, everyday meaning. The Constitution says Congress shall have power to coin money and to regulate the value thereof. This, Mr. Chairman, means that Congress has power to make coins of metal and to stamp the true value upon each one of them. It does not mean that Congress shall refuse to furnish the people of the United States with an adequate coinage, and it does not mean that a theoretical amount of uncoined metal shall be called a coin. A coin is an object which may be seen and felt and even heard if one tests the ring of it.

Mr. Chairman, the gold bill attempts to cut out, delete, and destroy that part of our great written Constitution pertaining to the power of Congress to coin money and to regulate; that is, to stamp on the metal coin the value thereof. The bill is unconstitutional on its face because it seeks to nullify the Constitution. Moreover, it is a bill which is contrary to the common law and to the law of custom upon which the common law rests. It attempts to legalize robbery. It attempts by force to deprive the people of the United States of their right to the currency of the Constitution. It gives the international bankers power to send the gold belonging to the people of the United States to a place of deposit reserved to themselves in Europe. Mr. Chairman, the gold bill cannot become a valid law by any constitutional means.

Now, Mr. Chairman, let us look at the bill to see if the legal hirelings of the Bank of England and their agents, the Federal Reserve Board and the Federal Reserve banks, have been able to disguise its purpose. Let us see if they were able to clothe the grisly skeleton of their greed with echoes of glib religiosity, moral precepts, economic jargon, and shop-worn tags of speech, according to the fashion set by the present administration. The first thing that meets my eye is the title. We read:

A bill to protect the currency system of the United States, to provide for a better use of the monetary gold stock of the United States, and for other purposes.

It is indeed a bill to protect the present currency system of the United States, but it is a bill to protect it from the just wrath of United States citizens. It is a bill to save for the Federal Reserve Board and the Federal Reserve banks their gigantic monopoly of a special paper currency which they steal from the Treasury and upon which they charge the people of the United States a heavy toll of interest. It is indeed a bill to provide for a better use of the monetary gold stock of the United States if better use means the issuance of two sets of obligations against one piece of security. It is indeed a bill for “other purposes,” and those are purposes which the proponents dare not mention.

Among the purposes of the gold bill not mentioned in the title is that of pretending to take into the Treasury the gold now held by the Federal Reserve Board and the Federal Reserve banks and a great effort has been made to have it appear that the Federal Reserve banks are unwilling to surrender the gold they now hold to the United States Treasury. This effort is dishonest for two reasons. First, the Federal Reserve Board and the Federal Reserve banks have already made a profit of some billions of dollars out of the President’s gold seizures and those billions were stolen from the people of the United States; and, second, the transfer is fictitious. The President sought to convince Members of Congress that the Federal Reserve banks were resisting his efforts to have the Treasury take possession of the gold, but one of the members of the Federal Reserve Board spoiled that argument by declaring that the Federal Reserve Board had asked the President to have the Treasury take the gold.

You see, Mr. Chairman, under this bill the United States Treasury has to pay for the gold. Although the gold belongs to the people and was taken away from their bank deposits and their cash registers and their pocketbooks in the first place and put into the Federal Reserve banks, and although the Federal Reserve banks tricked and fooled the people into giving it to them for Federal Reserve currency, which they now refuse to redeem, and although that gold does not belong to the Federal Reserve Board and the Federal Reserve banks, the United States Treasury has to pay the Federal Reserve Board and the Federal Reserve banks for it. Well, how does this bill propose to pay the Federal Reserve outfit, how does this bill provide that the Government shall take over the stolen goods? It provides that the United States Government shall give the Federal Reserve Board and the Federal Reserve banks new gold certificates to the full value of the loot. The gold certificates will give the Federal Reserve Board and the Federal Reserve banks legal title to the gold, and the United States Treasury will be nothing more than its physical custodian. The Secretary of the Treasury will give the Federal Reserve banks gold for their new gold certificates whenever they ask for it. It is a fraudulent transfer.

When the individual citizens of the United States were required to surrender their gold they were required to surrender their gold certificates as well as their gold coin and bullion. The Federal Reserve Board and the Federal Reserve banks are private corporations, but they did not obey the gold orders. They did not surrender any gold coin, gold certificates, or gold bullion. On the contrar3% the gold which was commandeered from the people was given to them as a free gift, and now, after they have taken into their possession all the gold belonging to the people they are ready to make a pretended transfer of that gold to the Government. Evidently there is law for the common man and no law for the Federal Reserve Board and the Federal Reserve banks. The common man must toe the mark, but the Federal Reserve Board and the Federal Reserve banks are the agents of the Bank of England, and the law, it seems, does not apply to them. Many of the officials of the Federal Reserve outfit have had charges of impeachment brought against them, but those charges have not been investigated.

The Federal Reserve outfit now has in its possession gold coin, gold certificates, and gold bullion. But this bill does not require them to surrender their present holdings of gold certificates. After this bill becomes law, if such a catastrophe should occur, the Federal Reserve Board and the Federal Reserve banks will still hold their present gold certificates. They may exchange those gold certificates for gold between the time this bill becomes law and the day the President makes his proposed devaluation proclamation. Is not this gift of over $1,000,000,000 in gold a great treasure to bestow upon the Federal Reserve Board and the Federal Reserve banks — the corrupt and sinister organization which has bankrupted the country? Does this not make favorites of the financial crooks who control it?

Mr. Chairman, all the gold in the possession of the Federal Reserve Board and the Federal Reserve banks belongs to the people of the United States. During the last 20 years, under the vicious Federal Reserve Act, they have taken it from the people in exchange for Federal Reserve currency and it has not cost them one penny. Now they come forward to make a pretended transfer of the people’s gold coin and bullion to the United States Treasury. Not one penny of the gold they pretend to transfer to the United States Treasury is owned by them; every dollar of it belongs to the individual citizens of the United States. The United States Treasury is to buy it on credit and to pay for it with new gold certificates. How does this transfer title to the United States Treasury? Can the Congress lend itself to such a transaction? Last May I stated that, in my opinion, the people’s gold, unjustly impounded in the Federal Reserve banks, should be placed in the people’s Treasury, but I did not state that it should be placed there as the property of the Federal Reserve Board and the Federal Reserve banks, to be withdrawn by them with gold certificates and to be made exportable from the United States Treasury to the Bank for International Settlements in Europe. What this bill proposes to do in connection with the President’s message suggesting that this United States gold may be sent to Europe to be kept in the Bank for International Settlements with the loot of the central banks of other countries is one of the greatest fiscal frauds in history. It is one of the biggest swindles of all time.

Again. Mr. Chairman, as you very well know, the Federal Reserve Board and the Federal Reserve banks had paper currency outstanding to the extent of about $5,000,000,000 when the present administration came into power. That currency was redeemable in gold. It constituted the people’s title to all the gold held by the Federal Reserve outfit. It constituted a first and paramount lien on all the assets of the Federal Reserve Board and the Federal Reserve banks. Instead of taking over the gold and the assets of the Federal Reserve Board and the Federal Reserve banks, including the great hoard of United States wealth which they have hidden in foreign countries, and honestly administering those assets for the benefit of the people who had been defrauded by the Federal Reserve Board and the Federal Reserve banks, the President of the United States unlawfully relieved the Federal Reserve Board and the Federal Reserve banks from their legal liability to redeem their Federal Reserve currency in gold, or in lawful money convertible into gold, and from the surrender of all their assets. Every dollar that was unlawfully taken from the people of the United States by Roosevelt’s gold order was given to the Federal Reserve Board and the Federal Reserve banks in preparation for this great steal, this wholesale robbery of the masses for the benefit of the privileged few. And now that American citizens have lost their gold, an entirely fictitious transfer has been arranged to deceive the people. Mr. Chairman, the President may underrate the mental capacity of the American people as much as he likes, but I venture to say there is no man in the United States so dumb that he cannot understand how this bill tricks and deceives him.

The Federal Reserve Board and the Federal Reserve banks have profited to the extent of $5,000,000,000 or more by being released from their obligation to redeem their outstanding $5,000,000,000 of paper Federal Reserve currency in gold. They have profited by having had over a billion dollars in gold certificates saved to them. They have profited during the last 20 years by the criminality of the Federal Reserve Board, which never charged them one penny in interest on the great mass of Federal Reserve currency they have taken from the Government. They have profited from their own wrongdoing by the unlawful creation of fictitious claims against the United States Government and the giving of those claims to foreigners, and they have profited by their control of all the public revenues. And now they come forward with a scheme to sell the gold they have taken from the American people to the Treasury for new gold certificates which will give them a legal title to that gold and permit them to do as they please with it. An era of corruption is culminating in one of the greatest crimes that has ever been perpetrated against the people. Mark my words,, Mr. Chairman, there will be trouble here if this bill becomes law.

Why, Mr. Chairman, this fiscal fraud, this crime is so stupendous that the instigators and manipulators of it did not dare to have all the transactions performed by one man. Each man did his part and then got out of Washington pretending that he disagreed with the President’s money policy or pretending that he was ill. William H. Woodin, who sat beside Albert H. Wiggin on the board of the Federal Reserve Bank of New York and who acquiesced in and helped to perpetrate the financial misdeeds which bankrupted the country, is now hiding in a western sanitarium. Dr. Sprague, the tool of the international bankers and an employee of the Bank of England, was, in my opinion, put into the Treasury to resign at a certain time and to create uncertainty in the minds of the people by the manner of his going and his subsequent articles pleading for sound money. Mr. Chairman, all the bickering and the resignations and the artful propaganda that has been thrown around the monetary policy of Franklin D. Roosevelt cannot disguise the fact that he was selected by the international bankers to carry on the work they started with the great depression; that is, the pauperization of the masses and the seizure of American property for their own use and benefit, and that he has lent himself to their schemes by unconstitutionally demanding and assuming the dictatorial powers which will enable him to carry them out.

Another purpose of this bill not mentioned in the title is the transference of a very large quantity of United States gold to the Bank for International Settlements. One of the chief objects of the gold policy of the present administration is the sending of gold taken by force from its lawful American owners to the Bank for International Settlements in Europe, where it will be kept with the property of the central banks of the world. According to the Hague convention, under which the Bank of International Settlements was formed, gold deposited in the vaults of the Bank for International Settlements is safe from seizure. Our gold, when it goes there, will certainly be safe from seizure by the United States. The Bank for International Settlements is dominated by the Bank of England. It is not on American soil. It is in Europe. American gold, therefore, will be kept in Europe. It will be placed where none of the wage slaves of the United States will ever be able to acquire any of it. It will be the capital and means of oppression of that international superstate, that financial superstate, which has been after Uncle Sam’s gold money ever since the wealth of this country attracted the attention of greedy European bankers and brought them flocking over here to set up the suction pumps of the Federal Reserve Board and the Federal Reserve banks.

The Bank for International Settlements is an international bankers’ bank. It is a central bank of central banks. The international bankers, who brought about the depression, have been drawing gold to themselves from the common people of every land. It is their intention to use that gold for their own purposes. They propose two kinds of money. Gold — the real money — is what they intend to have for themselves, and paper money, which has no intrinsic value in itself, and which is made out of nothing and is worth nothing unless it can be redeemed by the holder in gold — that is for the common people, or, as they call us, the peasants. ...

Franklin D. Roosevelt, the high priest of repudiation, the apostle of irredeemable paper money, and the man who intends to send United States gold out of the United States to a place where no American citizen can claim it, this Franklin D. Roosevelt characterizes all those who do not agree with his monetary policy as mules. If that is true, what an awful mule President Woodrow Wilson must have been. Concerning Andrew Jackson, Wilson said:

“He had no idea of allowing the country to undertake the fatal experiment of an irredeemable paper currency.”

This is the fatal experiment Franklin D. Roosevelt has undertaken. This is a part of his policy of “bold experimentation.” Not long ago he told the people at Savannah that George Washington, like himself, was an experimenter. Mr. Chairman, there are no points of resemblance between George Washington and Franklin D. Roosevelt, experimental or otherwise. George Washington did not take orders from money changers. He did not rob the people of their gold. George Washington abhorred dishonor in all its forms. He would have died before he would have violated his oath of office or tampered with the Constitution of the United States in the manner of Franklin D. Roosevelt. * * *

Now, Mr. Chairman, let us hear the true purpose of the $2,000,000,000 fund which this bill proposes to set up. I quote from the prophecies of Henry Morgenthau, Mr. Baruch’s Secretary of the United States Treasury, as shown by the following article which appeared in the Washington Times of January 16, 1934:

“Treasury Sees United States Need of Blue Chips “When you play poker you want just as many blue chips as the other fellow.

“That, in a man’s language, was the gist of Secretary Morgenthau’s summing up of the Roosevelt proposal for a $2,000,-000,000 stabilization fund to protect the currency of the United States.

“In other words, the American Government is engaged in probably the greatest gamble of all time. The stake is the credit of the United States.

To Equal British

“When asked why a figure of 2,000 millions for the stabilization fund had been asked, Morgenthau said:

“ ‘We figured we might need an amount substantially equal to the British stabilization fund.’

“ ‘If we are going to play, we must have as many chips as the other fellow.’

“ ’We want every piece of machinery the other countries have. We want to be in a position to buy gold and to sell gold.’

“The 2,000-million stabilization fund will be derived from the Government’s profit on the debasing of the value of the dollar to from 50 to 60 percent of the normal valuation.

Fund From Profits

“ If the debasement is 50 per cent, the profit to the Government will be $4,000,000,000 in round numbers. A 60-cent dollar will mean about 2,666 millions in profits.

“Out of these profits will come the stabilization fund to be administered by the Secretary of the Treasury, the remainder being available for any Government expenditure. Morgenthau said:

“ 'It is possible that the mere existence of the fund will be sufficient to carry out the law which requires that the Secretary of the Treasury maintain all lawful money of the Government on parity with gold.’

“The Secretary of the Treasury is charged with the responsibility of administration of the fund to carry out that purpose. If any particular type of currency issued — United States notes, for instance — should become depreciated in value, the Treasury would go into the market and buy a sufficient quantity of that currency to maintain its parity. Operations in the foreign markets to protect possible depreciation of the dollar would be similar.”

Let this quotation from Morgenthau go down into history. Long from now some curious investigator of the present age of witchcraft and magic in the “White House may unearth it and reconstruct the financial history of the “new deal” from it, as science from a single part reconstructs the entire animal.

Mr. Chairman, it is not the gambler’s voice in Mr. Morgenthau’s confession which most deserves political attention. We are becoming accustomed here to gambling terms as they are employed by the executive branch of the Government, and we can well understand that the Executive and his favorites must of necessity speak the lingo of their kind. This is a gambler’s administration, and all the “big shot” gamblers are here to revel in it. Mr. Roosevelt does not deny his gambling propensities. He is a “new dealer.” He is “on his way,” but he “doesn’t know where he is going.” He is for a policy of “bold experimentation,” just as Samuel Insull was for a policy of bold experimentation. He has not been Ben Smith’s patron all these years for nothing. But, Mr. Chairman, there is something apart from the vice of gambling to be observed in Mr. Morgenthau’s utterance, and that is its entire untruthfulness. He would have us believe that the United States is on one side of the fence and Great Britain on the other. That, of course, is not the case. The United States has been placed in a position of financial servitude to Great Britain, and Mr. Morgenthau’s loud-sounding propaganda is designed to conceal that fact from the people. Great pains have been taken to conceal it. It would be very damaging to this administration if certain people in the United States should find out about the great sums of United States money which have been sent to England during the past summer. Those funds were appropriated by the Congress for the people of the United States.

Mr, Chairman, why should tax money paid by American citizens be sent to London? When England makes her periodical gesture of insult toward the United States by paying a small installment on the war debt she owes us, she pays us in debased coins, in “token” coins, to be exact. But when Mr, Roosevelt sends American money to England he sends it in gold or its equivalent. When Mr. Morgenthau obtains his “kitty,” for this, I have been told, is what he called the proposed stabilization fund at the White House a week ago last Sunday evening, American funds will be fed to Europe more expeditiously and with less secrecy than such operations now require. If Congress puts the people’s property into a “kitty,” someone, if he cannot be the knight of the bedchamber, can at least pose before royalty as the knight of the “kitty.”

Mr. Chairman, understanding that Henry Morgenthau is related by marriage to Herbert Lehman, Jewish Governor of the State of New York, and is related by marriage or otherwise to the Seligmans, of the international Jewish firm of J. & W. Selig, man, who were publicly shown before a Senate committee of investigation to have offered a bribe to a foreign government; and to the Lewissohns, a firm of Jewish international bankers; and to the Warburgs, whose operations through Kuhn, Loeb & Co., the International Acceptance Bank, and the Bank of Manhattan Co. and other foreign and domestic institutions under their control, have drained billions of dollars out of the United States Treasury and the bank deposits belonging to United States citizens; and to the Strauses, proprietors of R. H. Macy & Co., of New York, which is an outlet for foreign goods dumped upon this country at the expense of the United States Government, which is compelled to issue paper money on the said foreign goods of the Strauses; and that Mr. Morgenthau is likewise related or otherwise connected with various other members of the Jewish banking community of New York and London, Amsterdam, and other foreign financial centers, and that he has as his assistant, presiding over public funds, Earle Bailie, a member of the firm of J. & W. Seligman, bribe givers as aforesaid, it seems to me that Henry Morgenthau’s presence in the United States Treasury and the request that Congress now give him a $2,000,000,000 “kitty” of the people’s money for gambling purposes is a striking confirmation of the statement made by me on the floor of the House on May 29, 1933, which statement was as follows:

“ * * * Now, Mr. Chairman, we have come to the place where we must decide whether we shall serve God or Mammon. Shall we nullify the Constitution at the behest of the money changers who have unlawfully taken all our gold and lawful money into their own possession or shall we take a stand here in defense of the faith of our fathers? Mr. Chairman, my mind is made up. I will stand by the Constitution. If I should fail to do so, I should expect to be met at the train when I go home to my district by a delegation of honest Pennsylvania citizens with 50 or 100 feet of rope. I should expect to be escorted to the nearest tree to be taught what it means to vote for a nullification of the Constitution in the House of Representatives.

“ Mr. Chairman, the provisions of this repudiation bill were foretold by a writer in the Dearborn Independent some years ago. There is, therefore, nothing novel or original about them. The writer of the article in the Dearborn Independent made the following quotation prophesying some of the measures which have been introduced here by the President of the United States:

“ ‘ (2) Confiscation of money in order to regulate its circulation.

“ ‘ (3) We must introduce a unit of exchange based on the value of labor units, regardless of whether paper or wood is used as the medium. We will issue money to meet the normal demands of every subject, adding a total sum for every birth and decreasing the total amount for every death.

“ ‘ (4) Commercial paper will be bought by the Government, which * * * will grant loans on a business basis. A measure of this character will prevent the stagnation of money, parasitism, and laziness, qualities which were useful to us as long as the Gentiles maintained their independence, but which are not desirable to us when our kingdom comes.

“ * (5) We will replace stock exchanges by great Government credit institutions, whose functions will be to tax trade paper according to Government regulations. These institutions will be in such a position that they may market or buy as many as half a billion industrial shares a day. Thus all industrial undertakings will become dependent on us. You may well imagine what power that will give us.

“ ‘ “Remember that when next you hear the Jewish plan that ‘Gentiles’ shall do business with their own bits of paper, while Jews keep the gold reserve safely in their own hands. K the crash comes, ‘Gentiles’ have the paper and the Jews have the gold. Says protocol XXII: We hold in our hands the greatest modern power — gold; in 2 days we could free it from our treasuries in any desired quantities.” '

“ ‘The Jews are economists, esoteric and exoteric: They have one system to tangle up the “Gentile,” another which they hope to install when “Gentile” stupidity has bankrupted the world. The Jews are economists. Note the number of them who teach economics in the State universities. Says protocol VIII:

“ ‘ “We will surround our Government with a whole world of economists. It is for this reason that the science of economics is the chief subject of instruction taught by the Jews.” '

“ Mr. Chairman, have not most of these predictions come to pass? Is it not true that, in the United States today, the ‘Gentiles’ have the slips of paper while the Jews have the gold and lawful money? And is not this repudiation bill, a bill specifically designed and written by the Jewish international money changers themselves, in order to perpetuate their power? What else do you make of it, Mr. Chairman? Does it not cancel the war debts? Does it not defraud the holders of Liberty bonds and every other obligation calling for the payment of money? Does it not defraud the veterans of the World War and take the value out of their adjusted-compensation certificates?”

Mr. Chairman, do you not see in this “kitty” bill the identical features outlined in the Protocols of Zion? Do you not see the Protocols of Zion manifested in the appointment of Henry Morgenthau as Secretary of the Treasury? It is not by accident, is it, that a representative and a relative of the money Jews of Wall Street and foreign parts has been so elevated?

Why, Mr. Chairman, this “kitty” bill takes the hitherto obscure young Henry Morgenthau and makes of him a central bank of the United States. It makes of him a central bank, an institution which Jefferson declared is one of deadly hostility to the free institutions of the United States. It exalts him above all other men. Under the powers to be granted him, his conduct is not subject to review or control by any other officer of the United States Government, not even the President.

What this “kitty” bill really does is to slide into the hands of Henry Morgenthau the emergency powers which Congress granted to the President. Those powers will not lapse. Instead, they are being slyly and dishonestly transferred to the bankers and after the bankers, in the person of Henry Morgenthau, have exercised them long enough to get the gold of the United States into their exclusive possession and to transfer it to their den of thieves, the Bank for International Settlements, Congress may take back its constitutional power over the currency, but it will have nothing left to exercise it on. The monetary gold of the people of the United States will, like the sons of the people, be buried in a foreign field.

Mr. Chairman, if you, as one of the party in power, are thinking of remaking the world so that the old America we knew and loved is to be no more; if you are one of those who is countenancing the placing of this country under the British Crown and the pooling of all American resources with those of England and Soviet Russia; if you are one of those to whom a title of nobility appears to be more desirable than plain citizenship in the Republic founded by George Washington, I trust that you will some day descend from the Speaker’s chair and let us know the reasons for your preference. If, on the other hand, you are not what these words depict, I trust that you will come down to the floor and tell us how constitutional government is to be maintained in this country if the plutocratic managers of the Democratic Party continue their efforts to destroy it. You, if anyone, should be able to give the people of the United States an answer to this question.

Under this administration the result of the American Revolution has been reversed. The United States has become an economic vassal of Great Britain. The once proud Republic of the United States with its great charter of human freedom, the Declaration of Independence, and its written Constitution, which had kept it free and independent for over 140 years, and its flag, first made by the hands of Betsy Ross in Philadelphia, and its national anthem, born within earshot of the British guns that shelled Fort McHenry — all these, like the American dollar, were brought down from their high estate.

“ Oh, say, can you see by the dawn’s early light What so proudly we hailed at the twilight’s last gleaming?” “Mr. Chairman, you know very well that you cannot see that flag there as it used to be. Others started very cautiously to pull it down. But it was Franklin D. Roosevelt, in his unlawful and unconstitutional assumption of dictatorial powers, who finally lowered it and tore it from its standard.”

Now that the “Gold Bill” is explained and the reader knows why he “turned in” his gold, and what became of it, what about that “Soldiers’ Bonus” we used to hear so much about? Have our Congressmen forgotten the “boys” that “made the world safe for democracy,” or was it safe for the Money Changers? We, as a nation, are pledged by law to pay them their “bonus” or “compensation” certificates in 1945, and they surely need it now if they ever will! Will the reader please remember how President Lincoln issued sixty million dollars in Full Legal Tender “Greenbacks” and paid his soldiers!

Would the reader like some real authority on this subject? Then listen to Robert H. Hemphill, financial authority and editorial writer on financial matters in the Hearst papers and a really profound student on such matters. Writing in the Hearst papers of March 17, 1934, Mr. Hemphill has the following to say:

"Sound Money"

“ During the month of February, 1934, we imported $371, 347,100 in gold.

“ We paid for it with ‘fiat’ money. Treasury notes of the United States; ‘printing press money’; ‘paper money’; ‘greenbacks ’; irredeemable in gold, silver or any specific metal; lawful money of the United States — ‘fiat’ money in every sense of the word.

“ We have now no other kind of currency.

“ It is the best money in the world.

“ Despite the unlimited quantity offered in exchange for gold, and the threat inherent in our huge secret stabilization fund, it has been so far almost impossible to prevent our ‘fiat’ money from commanding a constant premium over its theoretical par in exchange for the most prized possession of European Nations — their gold.

“ It is very important to remember this.

“ We are rapidly approaching a situation where the government MUST issue additional currency.

“ It will very soon be the only move remaining.


“ Immediately upon a revival of the demand that the government increase the supply of currency, we shall again be subjected to a barrage of skillfully designed and cunningly circulated propaganda by means of which a small group of international bankers have been able, for two centuries to frighten the peoples of the civilized world against issuing their own good money in sufficient quantities to carry on their necessary commerce.

“ By this simple, crude, but amazingly successful device these ‘money changers’ — parasites in a busy world intent on creating and exchanging wealth — have been able to preserve for their private and exclusive right the monopoly of manufacturing an inferior substitute for money which they have hypnotized civilized nations into using, because of their pressing need to exchange goods and services.

“ We shall never recover on credit. Even if it were obtainable, it is uncertain, unreliable, does not expand in accordance with demand, and contracts unexpectedly and for causes unrelated to the needs of commerce and industry.

“ Demand deposits cannot be loaned to commerce and industry.

“ Many bankers have known this for a long time.

“ It required this depression and the complete freezing of the whole banking system to teach the rest, but with a very few exceptions, they have all learned.



“ I am convinced that the NRA experiment is running into a jam. It has developed into a wholly different doctrine than the original conception.

“ Having failed to stimulate recovery, the present idea is to distribute nonexistent profits from one group to another.

“ Under any system of reasoning, the purchasing power, however, will remain the same.

“ Instead of providing for expansion, which means the creation and exchange of more wealth, its underlying philosophy is the creation and exchange of less wealth.

“ It is difficult to believe adult human beings at any stages in the development of civilization could be led into serious consideration of a system founded on such an absurd doctrine.

“ We need in circulation $250.00 per capita in permanent uncontractible currency, deposited in depositaries and payable on demand, to sustain the standard of living to which we had arrived in 1927-29, to pay the then prevailing prices, wages and costs; to produce incomes and restore the property values of that period.

“ It makes no difference how this currency is put into circulation. We are all producers and we are likewise all consumers; each one of us buys from all of the others.

“ If one thousand million of new currency is thrown into circulation anywhere in the system, it becomes almost immediately distributed throughout the nation.



“ It increases the transactions of the nation an average of 36,000 millions per year, and because we all buy the same things in the same order of preference, our business increases in the normal manner, first the necessities of life, next the necessary luxuries, and lastly capital goods.

“ We are all so anxious to produce and trade our products, our goods and our services, with our neighbors, that we will accept almost any kind of money which we have a fair chance of passing on for the things we want.

“ In our present situation the issue of additional currency is the only way out. ”



Is there any good reason that Congress cannot or should not do this now? — or pass a bill to “remonetize” silver? Is there any reason why that should not be done either?

Yes, dear reader, there is, and that reason is — “The control of our whole country by the Foreign Money Changers through the Federal Reserve System of Banks, that have the power to issue unlimited amounts of their own “greenbacks” redeemable by our government, and to withhold loans and call loans and inflate and deflate the currency and the country at their own pleasure and for their own profit!!

How long, OH GOD, WILL THE AMERICAN PEOPLE STAND FOR SUCH A CONDITION; when all they need is a safe, sane, reasonable plan of economic security and “United Action” to put it into operation?

Chapter 22.

The Research Finished

Well, it was a gruesome story I had been able to dig up in the Congressional Library and other sources, since the spring of 1933, and it was a continuous wonder to me that the rotten crookedness and corrupting of Legislators and the extending of the grasp of the “money changers” into our financial and business system could have gone on year after year, and generation after generation getting progressively worse, with a mountain of bonded indebtedness growing higher and higher, with the chains of national mortgage debts growing closer about the life of our people year after year, and not to be stopped somewhere, someway.

I finally came to the conclusion that it was only for one fact — our country had been so vast in extent and productiveness, that their systems could continue to repeat until all new territory was exhausted. As one territory was opened up and settled and, then a few years later, through hardship, privations, and endless toil, the people had developed their lands enough to borrow money and mortgage them, they did so at the urge of the bankers and the high power sales forces of the farm machinery and other industries who were greedy to extend their own increasing business.

Then in the course of seven to ten years, with a little hard luck, sickness, drought, frost, hail or grasshoppers, the farmers failed to pay their mortgages and would have them foreclosed for half the value of the farm, and so be obliged to move on to some other new strip of territory, to repeat the process all over again, and their hard won farms so became “tenanted” places, rented out by the “Money Changers” to less progressive and less fearless farmers. The real crisis not coming, of course, until all the productive lands had been taken up and no more expansion was possible anywhere for the unfortunate victims of a vicious and relentlessly controlled system of money manipulation.

It took a great and fearless people to do this pioneer work of our glorious past. And honest, hardworking people they were; Indian fighters one day and farmers the next in the earlier days, and the later days a class that is so graphically and excellently described in the book, “With a Lantern in Her Hand.” The days that the older people will yet remember was told of in the song that ran something like the following:

“You can hear the hungry coyote,

As he sneaked up through the grass.

Round my little old sod shanty.

On the claim.”

How heartless! That a system could be allowed to exist that could take homes from such people, by a managed shortness of money, after they, by hard and fearless work, had carved them for themselves from the wilderness.

It was true, at times there would arise a group of people who seemed to have some idea of what was the matter, but they mostly, like the “freesoilers” and others, and finally the “Great Commoner,” Bryan, from Nebraska, with his free silver campaign in 1896-1900, never could get their programs over, but it is easy for one to see now, that they, nearly one and all, were only seeking to treat symptoms or effects instead of causes, never getting clear down to the bottom and digging up the real underlying cause of the whole ghastly crime that had been so ruthlessly sapping the very life blood of our Nation; THE POWER OF ISSUE AND CONTROL OF THE VALUE AND VOLUME OF MONEY AND CREDIT, THE LIFE BLOOD OF OUR COUNTRY, TOGETHER WITH THE VICIOUS LEGALIZED USURY!

The people, of course, were being blinded, hoodwinked, and led away from the real menace, by insidious propaganda, growing worse from year to year as the money interests extended their control of newspapers, and also their growing control of big business.

With the control of business the money interests controlled the advertising put into the newspapers. When they could not own the paper, they could and most always would, control and influence their editorial policy, and worst of all, prohibit anything even of news value being printed that might tend to cast reflections or doubts on their nefarious and inhuman grasp on the money and commerce of the nation.

The saddest part of all, of course, was that our ‘Legislators’ could be and were, beyond a shadow of a doubt, continually bribed one way or another by money changers, (with money or to get social advantages for themselves and their families), to pass and put into effect legislation to aid and further the diabolical schemes of the foreign Money Changers.

This bribery and connivance was very adroitly done, of course, so that legal proceedure likely could not have been successfully used against them, but there is positively no other way than the aforementioned one of bribery and corruption of legislation, in which their infamous schemes and laws could have been put across.

As time passed and more and still more banks were opened, these were controlled from the top of the system, and as more large business and manufacturing concerns came into their hands, the officers and employees of all these were forced to become henchmen and propagandists for the Money Changers, as they must all eat and live and have a living for their families, and must have work to do, so with all the help, willingly or unwillingly, given by their employees, the small bankers, the industrialists, and newspapers, and magazines, and finally the crowning glory of propaganda, the movies and radio, the Money Changers came into their own by leaps and bounds.

The task which I had set myself — namely, to search out and assemble facts bearing upon the continuous conspiracy to enslave the people everywhere through manipulation of money and credits — was now finished. What an aggregation of villainous acts were here recorded — seemingly in overabundance, but certainly quite sufficient to convince any intelligent citizen that our present monetary system, and the economic wreckage caused by it, are the composite result of all these conspiracies operating against and damning society.

Chapter 23.

The Virginia Plantation

Fatigued as I was from long research and study, I was very happy to accept an invitation to spend a month with some dear friends who had a few years before established themselves upon an old Virginia plantation, within a short day’s automobile journey from Washington.

I arrived there the latter part of May, 1933, and a more beautiful and ideal place in which to rest and write could not have been found. The place was old but of fine construction, and I was given a beautifully situated room on the ground floor, with southern exposure, having a large French door that opened into an exquisite garden of fruit and flowers that was certainly conducive to rest and quiet I needed so badly after my strenuous work in Washington.

My friend and his wife (they had no children) were fairly well to do, having accumulated enough to keep them comfortably, had retired there to the quiet and beautiful valley to enjoy a few years of life, while yet young enough to enjoy it, a thing most people neglect to do until it is too late. The farm made them a comfortable living, and as help was very reasonable, they did not have to overwork themselves, and were really living the lives of the “Gentle folks of the Old South.”

I had been there only a short while and had gotten my manuscript in fair shape, but was not satisfied with it myself; it seemed woefully incomplete and the thought occurred to me many times, that at sometime, this whole diabolical scheme of binding our Nation, in a mountainous debt of economic slavery, could have been stopped and a system of some kind put into effect, whereby our people could have gone onward and upward in a free and happy expression of their lives, in their own individual way, being always and at all times well able to earn a comfortable living, educate their children, and prepare a competence for their declining years, when their earning power waned, and be able to enjoy the sunset of life as a reward for work well done.

All this seemed wholly possible in a land of abundance, and especially since our producing power had increased so tremendously, and I could see no reason at all why, that the more we produced, the poorer we got as a nation, or to put it into a more truthful and definite phrase — the more we produced, and the more machinery we invented to do our work for us, the deeper into debt we went!

Even with the new environment I could not keep my mind from returning again and again to the circumstances surrounding the time of the “Great Emancipator” and his work and action, and especially that letter to Col. Taylor about the “Greenback” being the “Greatest Blessing” our people had ever had bestowed upon them. His thought upon all other matters had been so clear, righteous, and unselfish, that he must of necessity have had far different plans for our immediate future, than those under which our Government was operating at the close of the war, and just before his tragic and untimely death.

Then also a plank in the platform on which he was elected in 1864, declared for a National Currency. Just what kind of a system could he have had in mind? Or was he willing to give the bankers most anything they wanted if thereby he could save the Union?

Again and again my mind would ponder upon the strenuous days and sleepless nights he spent in the early years of the war, with the question of financing war operations; his jubilant and thankful letter to Col. Taylor for devising a way to relieve the situation, then soon to have the crisis arise again; the fight in Congress over the “Exception Clause” in the “Greenback” issue with its final adoption and the excuse it offered, the Money Changers discounting and depreciating the greenback money and destroying its purchasing power and value, under a law made especially for the purpose, of course, then the harried and worried President being forced to accede to the establishment of the same nefarious Bank Law that had twice before been killed and thrown out, by his illustrious predecessors in the presidency, Jefferson and Jackson.

Surely, being the student that he was, with his wisdom and judgment, he must have known all that had gone on before, and the reasons for the opposition of Jefferson and Jackson and all the other fearless patriots of former years to such a system of finance.

Such a student of the Constitution as he, and so shrewd, he surely knew such a law was unconstitutional. If he had only lived — with the war over, and with four years more in which to do things — but he didn’t live. He was killed!! Murdered!!! HE NEVER HAD A CHANCE TO PROVE WHAT HE COULD DO I

Such was my thinking one night as I lay on my pillow, when I dropped into a deep slumber. Sometime later I woke with a start, the room all light, and standing beside my bed was a gentleman, seemingly of the old school, who bowed graciously, and begging my pardon for the intrusion, said he understood I was writing a book on the nation’s economic situation, and that he had some information that might prove valuable to me. If I would allow him to do so, he would give me the information and be on his way.

And this is the strange and amazing story revealed to me there in the wee small hours of the night, on the Old Virginia Plantation.

Chapter 24.

The Stranger’s Story

I reached for a note book and pencil that lay on a small table beside my bed and bade him proceed.

“ You have, of course,” he began, “gone quite thoroughly into the money question in ancient, medieval, early English and early American, and also in our modern times, therefore, you must have seen how the thread of control, the methods of procedure, the schemes, and the tricks have all come down through the centuries in an unbroken chain, never becoming more humane and just toward the people, but always waxing more severe, more inhuman, and more oppressive with each succeeding generation.

“ It will help you to a clearer understanding of the system and its application if you know and remember that the same class of predatory people have been continuously unbroken in their line of descent, the principal Money Changers and Money Manipulators, handing down their knowledge of money and its pernicious and enslaving uses to each succeeding generation, to do with, use, and improve upon the wicked, lecherous practices of the ages; to subject other people to their rule and to take from them their hard earned produce of the field and factories.

“ It is true, of course, there have been at times, members of other peoples, who have learned and used some of the tricks and practices of the real money changers, but usually in the end they were fleeced by the others with the tricks they had not learned. Furthermore these outsiders were not imbued with the necessity of handing knowledge of these things down to their children, likely preferring to lock up the fact of their use, in their own memory, and handing down only the result, or the money and riches, they had been able to obtain by their use.

“ The members of the other classes who have used some of the methods of the ‘Money Changers’ have increased in number in the last few centuries, in fact, the whole civilized world has become infected with the pernicious practice and in the main have been a most helpful tool of the Money Changers, enabling them to extend their exploiting methods into fields and circumstances with which their type of mind could never cope and for which they have no liking.

“ These activities, of course, are in the realm of large scale exploitation of natural resources, inventions, and manufacturing processes. People like Rockefeller, Lipton, Harriman, Marshall Field, and hundreds of others, have been allowed to become very rich and powerful in order to produce these vast riches, to be in turn manipulated by the ‘money changers,’ either in ways of commerce or in the manipulation of their stocks and bonds, which has grown to be one of the large ‘rackets’ of our day.

“ Then again, in this way the ‘Money Changer’ can stay in the background and escape having the abuse and cry of ‘tainted money’ attached to him, and as he says of himself in much of his literature, ‘work behind the scenes.’ These people are also very adept at working ‘behind the scenes’ as official ‘advisors’ or even ‘unofficial advisors’ of governmental officials in key positions, where their advice would accomplish their own ends without responsibility for the consequences being laid on them if afterwards found out.

“ Many of these ‘advisors’ are being used today in our government, in fact, more than in any other period of our National existence, which may have some bearing on the condition of chaos and depression in which we find ourselves today.

“ So, you will see, there are many angles to our complicated stage of civilization from which the ‘Money Changer’ can work his nefarious schemes. Whereas in centuries gone by he had only the one graft — loaning money at usury, now his various forms of manipulation have so covered up and obstructed the view of the common people that his schemes can be and are worked almost unknown and unseen, and when found out, the blame generally can be, and is, placed upon entirely different people.

“ These many and varied schemes, of course, work out so as to cause depression and deflation periods, to come with ever increasing frequency and seriousness.

“ You are also aware that the headquarters for all the money and credit manipulation of the world is located in England, France, Germany and Switzerland! Orders for the world activity originate and are correlated there. Comparatively few men are involved in this ‘Inner Circle’ of personage who plan to rule or ruin the world.”

“ It may be well to mention that some students of the Bible say that “Bible Prophecy” says that these people just mentioned, will actually overcome and rule the world for a time, and rule with utmost severity, God using them as a rod or means of chastisement of the other people of the earth, for their transgression of His laws and for forsaking His work, but afterward they are to be practically wiped off the face of the earth, by the persecuted and down-trodden people. For we must remember that God carries on His work pertaining to man through man’s thought, words, and actions, and it may well be true that anyone having a continuous inner urge to do things for the benefit of humanity is receiving his “urgings” from the “Place of the Most High” and that he should be about his work and carry it out to the very best of his ability, as the light is given him to do so.”

I was awed and amazed by this strange but pleasant person; he seemed to have a poise and ease of expression, and a deeper knowledge and understanding than it had ever been my pleasure to contact before, and I gave him my undivided attention in order that I might transcribe his every word. His very being forbade any doubt of his slightest utterance or conclusion.

“ To get on with my story,” continued the stranger, “thirty years previous to the Civil War, there lived not far from where we are now, a man, his wife, and one child, by the name of Andrews. Their ancestors were of the early emigration from Scotland and northern Ireland, and like many others, these ancestors had, by fearless work and hardship, carved them a home out of the wilderness, and in time had become a respected family of land and slave owners, on their extensive plantation.

“ You are likely questioning now, their ideals and actions regarding slaves, but you must remember that in the South slave owning was deemed by the ‘best people’ perfectly right and proper, and one of the objectives toward which the average white man strove to attain. Many white men believed that if they owned a negro, kept him well, let him raise his family and live in more or less freedom from responsibility, such a negro was much better off than he would have been in a state of barbarism, the precarious existence from which he had been taken in Africa. There are still some white people who think the same today.

“ This child of Andrews,” he resumed, “was brought up a ‘gentleman of the Old South,’ in every way; his parents being wealthy and he an only child. He was given every advantage and perhaps some that he would have been better off without. He was given a good education and spent a term in a military school, and as was the custom of many people of his class in the South, he was sent to England to finish his education and to absorb the manners of the ‘gentleman.’

“ The youngster, being a good looking chap of excellent bearing and agreeable personality, with plenty of money, became very popular with a certain class in England, and was quite at home there. The clubs, as well as the drawing rooms, saw much of him, so much so that he was fast becoming weaned away from the land of his fathers, and took on the habits and customs of the ‘leisure’ class of England.

“ His graduation time having arrived, he urged his parents to make the trip over from the States to be present at the event, which they did. Naturally, they were very proud and happy to see their youngster grown into such a ‘perfect gentleman.’

“ This meeting with their son was destined to be their last, however, for the ship on which they sailed for home was lost, far out in the Atlantic, with all on board. Thus, left with no relatives, the young man had less desire than ever to return to his native country.

“ There was a chapter in his life just before he went to England that may have had not a little to do with his going there. A love affair with a fickle young lady of Richmond, where he attended school, who ‘threw him over’ for a more dashing and richer chap. This experience strangely soured him on his native country (but its remembrance had tended to keep him single) and he came to look upon the old plantation as just a source of income to keep him in luxury without work or worry on his part, as his father had obtained the services of a very able superintendent to oversee the plantation.

“ Then came the Civil War, when all ‘good men and true’ were supposed to come to the aid of their country. As before mentioned, young Andrews’ idea of ‘his country’ was a place to keep him in plenty of money, but he was much concerned over the possibility of the slaves being freed and thus losing his income. Naturally his sympathies were with the South.

“ The call to the Confederate colors of all who had received training in the military schools of the South caused young Andrews to return to Virginia, and so urgent was the need for officers that he was at once made a colonel and put to training troops.

“ It was not many months, however, before he was at the front in the thick of the fighting, and it was his misfortune in one of the earlier major engagements, to be severely wounded by shell fire and which necessitated his being taken to the hospital at Richmond.

“ He was much more severely injured than at first thought, and doomed to spend many weary months in the hospital, more or less neglected, as he had few friends there now, and all of them had many friends and their families’ wounded to care for, and if killed to grieve for. So when time came for him to leave the hospital, knowing that he was so crippled that it would take years to fully recover, he returned to England, where he could at least be away from the strife and immediate worry, never dreaming the war would be lost by the South.

“ He had been so disfigured by a scar across his face, and being somewhat sensitive about seeing his old friends, he located in the south of England at a seaside village where he could have care and comforts at moderate cost. Even then he was beginning to feel the pinch of the privation of war, as he had tried to do his part as had all like him, having bought Southern Confederacy bonds and so having much of his money tied up.

“ His recovery being slow, he came to brooding over his condition, and to in some way blame the Northern States for it, and particularly the head of the government of the North, Abraham Lincoln, as all the papers he read were bemeaning him as a ‘nigger lover’ and a man who would free the slaves if he could, and, of course, that act alone would practically ruin young Andrews, for he felt his fortune and future existence was based upon the ‘slaves’ he owned.

“ He came to feel that if Lincoln could be put out of the way the North and South could be induced to go their separate ways, and his slaves and property would be saved.

“ I see,” the stranger observed, “that you are thinking what a very selfish view he was taking, but you must remember that most all human beings look at conditions or circumstances from their own selfish viewpoint, and I hope you will take into consideration the facts of the boy’s rearing and early training, and his experience and state of health, for all these had a great deal to do with his mental attitude at that time.

“ I will tell you now, however, that he was to live to repent, both his attitude and action, and, before he passed on, to come to understand the innermost life of the ‘Great Emancipator’ and to learn to love and revere his memory above all others.

“ The final months of the war brought increased anxiety and diminishing income to young Andrews. Even his own plantation was the battleground of a major engagement and most of his crops and buildings were destroyed, and his slaves scattered to the four winds.

“ He received this news with sickening heart, particularly as his supply of money was running low. He therefore decided to return to the States to see what could be done, going to London at once to arrange for transportation.

“ There he chanced to meet a man he had known while in London attending school. This man’s name was Rothberg. He was related to, and connected with one of the great bankers of England, or, as they are sometimes called, one of the ‘Real Money Changers.’ This chance meeting was to culminate in one of the great sorrows of young Andrews’ life.

“ He mentioned his forthcoming trip to Rothberg, and in turn was told that he, Rothberg, was leaving on the next boat also, but was going to Canada. Rothberg was soon able to convince Andrews that he had better go to Canada also and conduct his investigation from there, as it looked very much like the South would lose the war and it might not be too ‘healthy’ for an officer of the Southern Army to be around when the war ended. It was soon agreed that they would go to Canada on the same boat, they were even able to get a stateroom together, and were soon out on the briny deep.

“ Their conversation soon turned to America and the condition there, and Rothberg was more than delighted to hear young Andrews’ view of the situation, and especially to know his attitude toward Lincoln. He sided in with Andrews at once and enlarged upon the desirability of removing Lincoln from the direction of affairs, and what a good thing it would be for the South and for Andrews in particular.

“ Their voyage was in the early fall of 1864, and the second day out their ship ran into a violent storm. Andrews was not concerned as he was a good sailor, having crossed a number of times. But it was the first experience of Rothberg, who became violently ill, and as is usual with men of his type, he took it very seriously and was afraid he was going to die.

“ The storm continued in its fury and Rothberg became dangerously ill and his life was despaired of. But for the efficient and careful nursing of Andrews he probably would have passed on, with a great deal less to answer for in the last accounting than he had when he did pass on.

“ The mad sea had temporarily taken the self-sufficiency out of Rothberg. Even though he was better physically, his iron will had lost its temper. He was afraid — fearful he might not live to carry out his mission. His mission! Ah, that was more than life to him. So, summoning Andrews and pledging him to secrecy, Rothberg revealed the nature of his stupendous undertaking. Would Andrews take his place — in case . . . and fulfill the mission? He handed him an order for gold on the Bank of Montreal, for his personal use, and in his other hand was another cheek for a fortune — payable when the mission should be accomplished. Andrews was stunned by the unexpected outpouring of money into his lap — for doing a thing which he was assured would at the same time be to his own personal interest, but Rothberg assured him that money was no object at all to his people, and that they had quite sufficient money to take care of any undertaking they felt was to their advantage.

“ Rothberg disclosed to Andrews that his relatives and their associates had come to the conclusion that Lincoln was not the right man to have in the White House, that he would not listen to ‘reason’ and could not be depended upon to do the ‘right thing’ by the moneyed interests, that he did not intend to keep the States on a ‘Sound Money Basis’ and was therefore undesirable and a menace to them as well as the Southern Confederacy, and that his relatives were prepared to spend any amount of money needed to accomplish his removal.

“ He also disclosed to Andrews that it was his mission to go to Canada and from there contact someone in the States who could kidnap Lincoln, and turn him over to the Southern Confederacy, to be held to bargain with for the best terms obtainable for the South. Rothberg claimed his relatives had influence with officials of the Southern Confederacy, and that they would see to it that it would be put into the bargain for Lincoln’s safe return, that he would be supplanted with a person more to their liking and more ‘safe’ on the money question.

“ Rothberg explained to Andrews that the ‘Aristocrats’ in the world must rule by the control of money, and, of course, he included Andrews in that class, and appealed to the selfish side of Andrews’ nature to gain his support and help. He further explained that the control of money must be made sure for the moneyed men, and that they were to get, and keep, this control the world over, by the same scheme they had used when the Bank of England had been established, namely, the power to ‘issue’ paper money as a privilege of buying Government bonds and depositing them with the government, and later to use ‘bank credit’ instead of money, because they could issue or withhold ‘credit’ at their own pleasure, thereby being able absolutely to control the money or ‘circulating medium’ of exchange of the world; also, by being able to vary the ‘quantity’ of ‘circulating medium’ they could raise or lower prices of commodities at their will and really control the destiny of any and all countries.

“ He told Andrews his people had ‘managed’ the passage of the National Bank Law in the States in 1863. Lincoln, he said, had not been in favor of it, because he had been able to see that a government could finance itself, by issuing full legal tender greenbacks, as he had done for a while, until his (Rothberg’s) people had been able to ‘persuade’ certain congressmen and senators that the ‘exception clause’ should be written into the bill for the next issue of greenbacks.

“ This, of course, they had caused to be done, to give their banks an excuse for discounting them, and discrediting such money, and making it worthless, and which had given them a better chance to get their own plan adopted, which they had accomplished.

“ He added, however, that Lincoln was to them a rather ‘unknown quality’; that he could not be ‘dealt with,’ would not listen to ‘reason,’ and was silly enough to think that the common people should have a voice in all things, and was therefore a very dangerous man, from the viewpoint of the ‘Aristocrats’ of both England and America, among which, of course, he included Andrews and himself. So Lincoln must be gotten out of the way at the earliest possible moment.

“ Lincoln, he said, was very popular with the people, therefore if he should decide to do anything about the money question, such as repealing the national bank law, which the Money Changers, and relatives of Rothberg, had forced upon Lincoln in the crisis of the war, when he couldn’t help himself, or, if he should start issuing greenbacks of full legal tender again, his power might be too strong for Rothberg’s relatives to overcome in the American Congress, as they had been able to do before.

“ Lincoln, therefore, must be removed as quickly as possible, before he could attempt anything, in order that no suspicion would be attached to the Money Changers, or banking interests; as would be the case if anything happened to Lincoln during the controversy over money.

“ All this was quite confusing to Andrews, as he knew very little about money, — only that his people had always furnished him all he required, and he believed he was entitled to it in some way, by being the son of a slave and plantation owner. So he was easily convinced that this might all be true.

“ At any rate he figured that if they could once get Lincoln over the Potomac River to the Confederate lines, his plantation and slaves might yet be restored to him, and that was his big worry.

“ Andrews was very short of funds, and as the scheme seemed to fit in with his way of thinking, he was soon prevailed upon to accept the order for the gold. With the sharing of his burden of conspiracy with another, Rothberg fell off into a deep sleep, to awake next day much refreshed.

“ The storm subsided somewhat and Rothberg continued to improve and by the time they reached Canada, he was able to be up and around, but still he seemed pleased to have such an able assistant, even if he had given him a great deal of money. What were a few hundred thousand pounds to his people who had millions, and anyway, wouldn’t it be returned many thousand fold in the years to come, when his mission was fulfilled.”

“ It is very sad to relate,” observed my strange visitor, “it has been returned to them many million fold and still is operating more powerfully than ever at this time. But who can tell, perhaps this bit of information I am able to give you, may help in arousing the countrymen of the Great Lincoln to a realization of the cause of their distress and enslavement and inspire them to action to remove the cause.

“ I sincerely trust that such will be the case. After all is said and done, when real Americans know the truth, they can be depended upon to right their wrongs, and woe unto those responsible for their suffering and losses.

“ Rothberg and Andrews had no sooner located themselves comfortably in Montreal,” continued the stranger, “when Andrews began to look about for possible acquaintances from the States, and was soon able to find a number of officers of the Confederacy, who were there, on one errand or another, as much of the business and conspiracy of the Confederation was carried on from Canada.

“ He soon discovered that there was a sentiment favorable to his plan among certain people in the Northern States, and that they could be controlled if one had the ‘wherewith’ to do so.

“ This ‘wherewith’ was no object to Rothberg, and soon avenues of approach were opening up and information coming in from the States.

“ By now, however, another election had been held and Lincoln had been returned to the Presidency by a large majority, and was fast becoming a national hero to the North. Lincoln was letting it be known also that he was a friend of the South, and in the event of their surrender, he would see to it that they were not mistreated.

“ This was making the mission of Rothberg more difficult, and he was getting frantic appeals and demands for action from his relatives, together with new grants of gold and a free hand to dispense it. Rothberg now had a number of people employed getting newspaper and other information from both the Southern and Northern States. He was thus able to keep informed of events and make his plans and actions fit in with the prevailing conditions in the States, so that anything that was done could be laid on to other parties. Bold and bitter threats of assassination of Lincoln were appearing in various papers and places.

“ There was a paper in the South — at Selma, Alabama — that carried an offer to remove Lincoln, Seward, and Johnson for a million dollars. This advertisement was deemed by Rothberg to be the very thing he was looking for and on which his plan was laid — a plan that was discussed and put up to his accomplices as the ‘Kidnapping Plan’.”

Note: (Excerpt from “Lincoln the President” by Henry C. Whitney, Vol. 11, page 320, which the author inserts for the readers’ information.) “A Million Dollars Wanted to Have Peace by the First of March.” “If the citizens of the Southern Confederacy will furnish me with the cash or good securities, for the sum of $1,000,000.00, I will cause the lives of Lincoln, Seward, and Andrew Johnson to be taken by the 1st of March next. This will give us peace and satisfy the world that tyrants cannot live in the land of liberty. If this is not accomplished, nothing will be claimed beyond the sum of $50,000.00 in advance, which is supposed to be necessary to reach and slaughter the three villains. I will give myself $1,000.00 toward the patriotic purpose. Everyone wishing to contribute will address H. Catawba, Ala. Dec. 1, 1864.”

"Finally the information came that a certain actor, John Wilkes Booth by name, was known to be very hostile toward Lincoln and had been heard to say while playing in McVickers’ Theatre in Chicago, two years before, ‘What a glorious opportunity there is for a man to immortalize himself by killing Lincoln. ’

“ Forthwith, the money was poured out to bring Booth to Canada. Booth came, and they were soon engrossed in the plan for the ‘removal’ of Lincoln from the White House.”

“ You may, if you wish,” said the Stranger, at this point, “confirm this trip of Booth’s to Canada, as it is spoken of in a number of different books, etc., concerning that period. (Note: One such reference is to be found in the book, “Lincoln” by Emil Ludwig, page 476:

'When Lincoln, the enemy of his (Booth’s) country was elected for the second time. Booth went to Canada, the source of activity for Southern Conspirators and spies. There it would seem, he hatched a plan for kidnapping Lincoln, who was to be carried to Richmond.

'Getting money from unknown sources, he always insisted he made it himself, by successful speculations in petroleum; he returned in due course to Washington with the intention of carrying out his design on the day of the Inauguration. He tried to force his way into the eastern entrance of the Capital and for a moment disturbed the line of police guards, but was rebuffed and declared later that a valuable opportunity had been missed on this occasion.’ “This Booth was a strange and emotional character,” continued the Stranger, “as were all of the Booth family, and especially his father, who you will find well described in a book called ‘Myths After Lincoln’ by Lloyd Lewis.”

Note: The following is an excerpt from the book mentioned, and is inserted for the information of the reader. “Religion played strangely through this strange man. He worshipped at all shrines alike, doffed his hat at every church he passed, and knew all the intricacies of every Faith so well that all denominations claimed him. His family were Episcopalians, the Masons buried him in a Baptist vault, and away back in his ancestry there was Jewish blood. Yet, after he died, there were Catholic priests who believed that Booth was of their faith, so deeply was he grounded in the finer details of their church organization. Rabbis believed that he was a Jew, pointing out the many times he had joined them in their synagogue services, SPEAKING FLUENTLY THEIR HEBRAIC TONGUE.’ “Booth returned to Washington and got the word noised about that he had made plenty of money in real estate and petroleum speculations, in order that there would be no suspicion of where he really got his gold. You must, of course, know, that at that time gold and silver were quite unobtainable in the States, and Booth’s possession of this alone could make him popular, and he would have no trouble hiring accomplices with gold.

“ You may also find frequent mention of Booth’s having plenty of gold, paying his associates in gold, keeping them in the best Washington hotels, well supplied with money and well-dressed. You will also find that there has never been evidence produced to show that Booth ever consulted the Confederate authorities about the kidnapping plans, to see how they felt about it.

“ However,” continued the .stranger, “Booth was supplied with a goodly quantity of gold and arrangements were made with certain banks to give him more, as ordered by Rothberg, when it was needed, and he was soon deeply immersed in his plans for the great tragedy.

“ The kidnapping plan was at first all that the relatives of Rothberg thought they could have accomplished and were willing to chance their ability to ‘manage’ the circumstances; as to where and how Lincoln would be killed once he was within the Southern Confederate lines.

“ This, of course, Rothberg never mentioned to Andrews, but had other lines of action started in the Southern States for that part of his plan.”

“ It was somewhere about this time,” continued my visitor, “that Lincoln made the statement in a letter to a friend or in a public document (it really does not matter which, as you will find it widely quoted in most all works on or about Lincoln) that was to prove to be his death-warrant.”

“ What a tragic thing,” I said, “for one to write his own death-warrant.”

“ Yes,” said the stranger, “but such it proved to be, for Rothberg could plainly see by this utterance, that Lincoln fully realized the gravity of the money situation, and with his knowledge, would, at his first opportunity, when he could get the war finished (which seemed to be fast drawing to a close) put through legislation that would not only repeal their National Bank Law, but would put into use a money system that would make his country for all time, in an economic way, the same as he had done for the negroes in a human way, FOREVER FREE. I will give you a quotation from this death-warrant in order that you may be able to verify and see for yourself how clear it made the issue to Rothberg. It begins as follows:

“ ‘I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of my country. As a result of war, corporations have been enthroned and an era of corruption in high places will follow, and the money power will endeavor to prolong its reign by working upon the prejudices of the people until all the wealth is aggregated in a few hands, and the republic is destroyed. I feel at this moment more anxiety for the safety of our country than ever before, even in the midst of war. God grant that my forebodings may be groundless.’ “The Money Changers could see,” continued my visitor, “that Lincoln had some clear definite idea in mind and they knew only too well that Congress would not dare, in the face of the great popularity of Lincoln with the masses, to try to thwart any legislation on the money question that he might want passed, for Lincoln could go right back to the people with evidence, and clearly show that the really great men who had gone before in the new republic had been violently opposed to the principles of the then existing National Bank Law.

“ The principles, of course, were practically the same as the former Bank of the United States. The ‘money changers’ had forced Lincoln to take them in the crisis of the Civil War, with enemies all around him, and the Confederate Armies pounding at the gates of Washington.

“ So Rothberg redoubled his efforts and urged Booth to get action quickly, and at the same time kept the newspapers of the South publishing bold and bitter threats from first here and then there to build up the thought that the deviltry was coming from down there.

“ It might be well to state here,” explained the stranger, “that the most charitable thing we can say of young Andrews is that he was doing his part under the impression that he was going to help his part of the country, and, of course, himself greatly, and it seems that when one’s personal interest is involved to a great extent it is not very hard to sell one’s self on the idea of doing such a thing.

“ But he was to eat his heart out in lonely regret and anguish for his part in the conspiracy. But now he had not lived long enough, nor was he sufficiently familiar with money matters to realize the enormity of what they had helped accomplish, to the detriment of the whole country — North and South. Therefore, he was incapable of seeing what a great service he could perform by exposing the plot.

“ We must remember that Andrews had lost his slaves which he honestly believed were perfectly right for him to have, his plantation was ruined, his life embittered by his suffering and changed appearance by the wounds on his face, and then his bringing up as an only child had been conducive, of course, to making him more selfish than he otherwise might have been. So with these things taken into account, he probably acted about as most others would have in the same circumstances.

“ Events moved rapidly from that time on. Booth was continually urged to complete his mission. He had missed one or two opportunities: once when Lincoln was supposed to be on a certain road at a given time of day as was his daily custom. Booth’s plans had been to kidnap him then and rush him across the Potomac into Virginia. Booth had been there at the appointed time with his henchmen, waiting patiently, but when finally the President’s carriage approached close enough for them to see clearly, they were much put out to find that instead of the tall gaunt figure of the President, another Government official was using the President’s carriage.

“ This episode was very discouraging to Booth, as he was quite temperamental anyway, and it forced him to begin all over again. He was being prodded continually by Rothberg, who was afraid conditions were changing so fast that it would become more and more difficult to kidnap Lincoln, so he definitely decided in his own mind that the thing to do was to have Lincoln killed outright. Through a messenger he could trust, this was communicated to Booth, who, while he talked loud and bragged much, when it came right down to killing, was not so anxious about it, and still clung to the idea of kidnapping, as that was not so dangerous and besides he could become more of a hero himself with much less danger to them all.

“ In the meantime, Rothberg was getting demands for action from England and he was passing them on to Booth with all the vehemence he could put into words.

“ Sherman had just finished his march to the sea and was turning North to try to capture the Confederate leader Johnson with his army, while General Grant was in the last stages of his campaign in the capture of General Lee’s mangled, bleeding, and starving army of Virginia.

“ Lincoln had made his last memorable trip to Grant’s headquarters, down the Potomac River in the boat ‘River Queen.’ It was while there (calling Sherman from the South to meet with Grant and himself) he gave them their last and secret instructions concerning the surrender of the Confederates, the carrying of which into effect a short time later was to electrify the South and show them the true and great character of the Great Emancipator, and at the same time to mystify the political leaders of the North, who were eternally clamoring for vengeance on the rebel political leaders, as well as officers and soldiers.”

I was so amazed at the stranger’s intimate knowledge of events surrounding the happenings of long ago, that I hardly uttered a sound, but did my best to take his words down in shorthand, as he told the startling narrative.

“ Lincoln was beset by two factions at home that were causing great worry,” continued he, “one the Abolitionists, who feared Lincoln would fail to place the negro in full citizenship, the other those fearing that the Confederate officers and army heads which they called ‘Traitors’ would not be punished severely enough. Lincoln attended to the latter on the trip of the ‘River Queen’ at Grant’s headquarters, and the question of the negroes, he felt, he could attend to after the surrender of the Confederate Armies.

“ We all, of course, well remember the action of Grant and Sherman in receiving the surrender of Lee and the other armies — paroling all (officers included), and permitting each soldier to take a horse or mule of his own.

“ To the people of both the North and the South,” said the stranger, “Grant and Sherman had done a wonderful thing, but the radical factions desiring the ‘Traitors’ punished were much put out. But Lincoln merely reminded them that as Grant and Sherman had released the officers and men and gave them their word of honor that they were free, he (Lincoln) could do nothing.

“ They had been outsmarted again. Lee’s surrender had set the North wild with joy that the bloody war was over, and Peace had come once more. Loved ones who were left could come home, and once more take up the thread of life where it had been interrupted.

“ Rothberg was frantic at Booth’s delay, so trusting for his safe passage in the laxity of the border officials in the rejoicing and uproar of Peace, he parted with more gold and crossed the border in the dead of night and made his way to Washington.

“ The eleventh of April came, and Booth, with Herold, one of his accomplices, were in the crowd at the White House, when Lincoln made one of his most famous speeches of those, his last days; pleading: with his people for mercy and forgiveness for their brethren of the South. His tired, yet sincere voice pledging the South to protect them from the radical revenge-seekers of the North.

“ He promised not to turn the former slave owners over to the former slaves, nor would he even let all the negroes vote, only the small percentage of them who could qualify.

“ These words of Lincoln were proof enough to all Southern sympathizers that he was the best friend the South had; but to Booth, it was bitter indeed, as he saw his last chance for kidnapping Lincoln and delivering him to the South disappear. Turning to Herold, he whispered, ‘Shoot him on the spot.’ Herold naturally refused, saying that they were sure to be caught there, as they had no chance to escape.”

“ If left to his own devices.” continued the stranger, “Booth likely would never have molested Lincoln, but on returning to his hotel that night, who should be waiting for him but Rothberg himself!

“ Booth was greatly excited and amazed that Rothberg should come to Washington, but with more of Rothberg’s gold in his pocket and liquor flowing freely, and with the urging of Rothberg, he was soon ready for the great moment whenever it should come. Rothberg stayed in hiding, of course, in the daytime, but as soon as dusk settled over the city, he was after Booth with liquor, and urging him to finish the job.

“ As soon as it was announced that Lincoln and Grant would be at Ford’s Theatre on April 14th. Good Friday, they agreed between themselves that there would be the place to act.

“ Rothberg could readily convince Booth that the kidnapping plot was out of the question, as Booth had stalled along for months and had not accomplished his object, and that it was up to him, the great actor, to show the ‘stuff’ he was made of, and make a real name for himself! This talk and the liquor went to Booth’s head, and he ‘fell’ for the theatre idea, as that was his natural place to work and couldn’t he be the big actor, though?

“ Rothberg thought Booth would be less likely to get away alive from a big crowd and he was anxious to have not only Lincoln out of the way. but Booth also, as he was well versed in the idea, ‘Dead men tell no tales.’ Booth had never told anyone about his contact with Rothberg, having been coached by Rothberg to accept all the credit for the schemes himself, which he, in his erratic mind, had been glad to do, feeling it made more of a hero out of himself to his accomplices.”

“ I will mention right here,” said the stranger emphatically, “that all through the turmoil, excitement and anxiety of the last days of the war, with all the armies surrendering, the radicals clamoring for the ‘Southern Traitors,’ and the vast and complicated duties thrust upon Lincoln at this time, he never for long let the question of ‘money’ leave his consciousness. In the morning of his last day alive, he had an interview with Schyler Colfax about money and the development of the gold and silver mining industry of the Rocky Mountains.”

NOTE: The author verified the foregoing, and for the readers’ information, quotes the following:

LINCOLN’S INTERVIEW WITH SCHYLER COLFAX ON THE MORNING OF APRIL 14, 1865 From the Constitutional Edition of Abraham Lincoln, Vol. 7, page 370.

“ Mr. Colfax, I want you to take a message from me to the miners whom you visit. I have very large ideas of the mineral wealth of our nation. I believe it practically inexhaustible. It abounds all over the Western country, from the Rocky Mountains to the Pacific, and its development has scarcely commenced. During the war, when we were adding a couple of million dollars every day to our national debt, I did not care about encouraging increase in the volume of precious metals. We had the country to save first.

“ But now that the rebellion is overthrown, and we know pretty much the amount of our national debt, the more gold and silver we mine, we make the payment of that debt so much easier. Now,” said he, speaking with more emphasis, “I am going to encourage that, every possible way. We shall have hundreds of thousands of disbanded soldiers, and many have feared that their return home might paralyze industry by furnishing suddenly a supply of labor greater than their demand for.

“ I am going to try to attract them to the hidden wealth of our mountain ranges, where there is room enough for all. Immigration, which even the war has not stopped, will land upon our shores hundreds of thousands more per year from overcrowded Europe. I intend to point them to the gold and silver that awaits them in the West. Tell the miners for me, that I shall promote their interests to the utmost of my ability; because their prosperity is the prosperity of the nation, and, said he, his eyes kindling with enthusiasm, we shall prove in a very few years that we are indeed the treasury of the world.” “As the fatal evening of April 14th crept around,” continued the stranger again, “Booth rounded up his gang and gave them the new plan that had been impressed upon him by Rothberg, which followed the plan advertised in the Alabama paper some months before, which was to kill Lincoln, Johnson and Seward. “Booth’s accomplices rebelled fiercely, saying that they were only hired to kidnap Lincoln and that was all they intended to do, but Booth’s persuasive power, added to the power of gold and liquor, finally won them over, and they were assigned their posts.

“ As Booth convinced Rothberg, in Canada, by demonstration that he was a good shot with the pistol he was appointed, of course, to take the leading role and get Lincoln. This course was also to have the best chance to get Booth killed and out of the way. Powell, one of the conspirators, was assigned to kill the Secretary of State, Seward, and Atzeroldt, another accomplice, was assigned to kill Vice-President Johnson, and Herold was to aid in the get-away.

“ As you know, Atzeroldt fell down completely on his assignment, being too much under the influence of liquor.

“ Powell made a desperate attempt to kill Seward, and Herold, true to his part, made his way to a meeting place with Booth.

“ Booth, with the assistance of plenty of strong liquor bolstering up his waning courage, and with the prompting and threats of Rothberg ringing in his ears, and a dose of a well-known drug administered by Rothberg as a stimulant for courage (as Rothberg so well knew), was finally ready for his act.

“ So shortly after ten o’clock, while the play at Ford’s Theatre was in progress. Booth slipped quietly past the ticket taker, who knew him as a privileged character, strolled casually up to the back of the President’s box, quietly stepped inside, and with the cunning and accuracy of a maniac, Booth projected his pistol forward on a level with the back of the President’s head and fired.

“ The great man never spoke — only slumped forward, and Booth, dropping his gun and drawing a knife, slashed at the military aid of Lincoln who rushed at him. Then attempting his grandstand play as a great tragedian, he leaped from the box to the stage, catching his spurs in some of the bunting decorating the presidential box, and fell sprawling, breaking a bone in one leg.

“ With the excitement and drug both acting, and burning with humiliation at his accident, he hardly paused, but brandishing his knife, he cried, ‘Sic semper tyrannis,’ and half ran and half hobbled from the stage, slashing at the orchestra leader with his knife as he passed near him, and reached the stage door on the alley where his horse was being held by a boy they called ‘Peanuts.’ He grabbed his horse, and hurriedly mounted him; he cuffed the lad out of the way and was off for what he thought was Liberty and Fame, with the ending you, of course, know.”

I broke into the stranger’s narrative to ask if Booth was really killed or if it was someone else’s body they got and buried, but replying the stranger said, “Yes, it was Booth, all right, and a queer person he was. He never mentioned the secret part of his conspiracy with Rothberg to the last, as he well knew what would happen to him, surely, if he did.

“ But Rothberg’s work was not finished. Booth had no sooner accomplished his ghastly deed than Rothberg was busy with his gold getting rumors, whisperings and confusion spread over all the Capital. A few words well placed, with a few money changer friends were all that was required to speed the search for Booth, to get him out of the way and hushed. Large rewards were soon offered and detectives, police and soldiers were soon combing the country about Washington, then more and still more whispering and rumors were spread by Rothberg’s men, to thoroughly confuse and detract all possible thought from the real source of the trouble.

“ Then when Booth was killed, more rumors were spread — that it was not Booth’s body, to more confuse the issue, keep the police thinking and hunting for Booth and the higher ups. This was all right in line with the long practiced procedure of the money changers. Over the centuries in such circumstances, confusion, deceit, and make-believe have been their chief tools, aside from the use of the power of Gold, which, of course, is their greatest weapon, in their drive for wealth and power.

“ As soon as Rothberg had concluded his whispering and rumor campaign and Booth was killed, of which lie made sure, he quietly slipped over to Montreal again. Here he met Andrews, who had in the interval that Rothberg was away, by reading Lincoln’s late utterances and talking with other Confederate officers, came to the conclusion that Lincoln was the South’s only hope for fair play, and so informed Rothberg, and upbraided him for double-crossing him and dealing his Southland a dastardly blow.

“ Rothberg, of course, was terribly sorry (so he said) and blamed it all on to Booth, but he could see that Andrews mistrusted him and would likely cause him trouble. They were at a small outlying house where they were in the habit of meeting, and which had been fixed up comfortably by Rothberg. They were still quarreling about the assassination, when Rothberg finally decided that the best and safest thing for him was to get Andrews also out of the way and forthwith suggested they open a bottle of old wine and sit by the fire to talk it over.

“ So saying, Rothberg proceeded to open the wine, but Andrews, by now thoroughly mistrusting him, was carefully watching his actions, and after they had had a few rounds of wine, he thought he saw Rothberg drop something into his (Andrews’) glass before filling it with wine.

“ Rothberg was by now slightly under the influence of the wine and was not as careful as he would otherwise have been. “When he was attracted to the window by a disturbance outside, Andrews changed the wine glasses, just in case he had been right in thinking Rothberg had slipped something into his glass.

“ “When Rothberg returned to the table, Andrews was drinking his wine and immediately Rothberg waxed jubilant and taking up his glass finished it off at a gulp and urged Andrews to do the same and have another. He had no sooner gotten the words out of his mouth than a startled look came over his face, and turning deathly pale, he seemed to realize what had happened. Knowing he was finished anyway, he grabbed for his gun to finish Andrews also, but Andrews was the quicker of the two and grabbing Rothberg’s arm wrenched the pistol from him before he could use it.

“ By now, the poison was doing its deadly work, and Roth-berg sank to the floor, a victim of his own dastardly procedure. He was soon dead, and Andrews, removing all identifications from Rothberg’s clothing and pockets, washed his own glass and replaced it in Rothberg’s cupboard. Then he removed the poison receptacle he had found in Rothberg’s pocket and left it open on the table by the glass, so all could see Rothberg had just simply committed suicide.

“ When this had happened, it being quite dark by then, Andrews quietly left the place and, quitting the hotel where he had been stopping, he left for Toronto.

“ Thus, Rothberg, one of the arch conspirators of the ghastly crime against humanity at large, and America in particular, just in the very prime of life, and just when he thought all was over but the shouting, had been paid in full with his own coin, by drinking the potion he had prepared for another; once more proving the old saying, ‘THE WAGES OF SIN IS DEATH!

Chapter 25

The Return to the Old Plantation

“ After a few days in Toronto,” resumed the stranger, after a pause, “Andrews crossed the border under an assumed name and made his way back to his ‘Old Plantation Home’ in Virginia, to see just what the situation was there.

“ The whole nation was in the deepest mourning over the death of the martyred President, and by talking to different persons and reading the papers, he was more convinced than ever of the enormous mistake that had been made in the assassination that had plunged the whole nation into despair, just when they were all rejoicing at the close of the war, and starting the work of reconstruction.

“ Andrews’ features were changed greatly by scars across his face received in battle, when he was forced to leave the Service, and it only required a change to old clothes and letting his beard grow to some extent to make his recognition quite improbable. He found most of his plantation had been fought over, fences ruined, weeds and brush taking much of the land, and the slaves, of course, dispersed.

“ To his consternation, he found also, that the State authorities had decided he was dead and had forfeited his estate to the State and some parts had been sold to small settlers. The old homestead, which was not greatly damaged, together with a portion of the land, had been purchased by his former overseer (who had been in his father’s employ since childhood) and who, having lived there most of his life, had through thrift managed to save enough to make the purchase possible.

“ The overseer was nearly sixty years old now, and having no children, he and his wife were living in the old plantation homestead, with a few of the colored servants, who after the war was over had straggled back to the only home they had ever known; only too glad to take their old places at any terms; the responsibility of freedom having been a greater care than they could easily manage.

“ It was on a beautiful May evening when Andrews came up to the old homestead,” said the stranger, “and his old overseer was just coming up to the house from the stables, when Andrews walked into the yard, and was greeted in the friendly fashion of that day. Any stranger had always been welcome to a meal and lodging at the Andrews’ home and the new owner kept to the old custom. Inviting Andrews in, he proceeded to make him feel at home by inviting him into the ‘parlor’ and saying supper would be ready soon, and that he must stay for supper with him and his wife, and if he would, they would be glad to have him stay the night. After a bountiful supper that brought back the childhood memories as nothing else could, his host had lighted a fire in the great fireplace and they were ready to spend the evening.

“ Andrews mentioned the fact that though he had in former years been familiar with that part of the country, it had been some years since he had been there, having been in the army, and asked his host to tell him the news of those parts.

“ It was not long before Andrews was made acquainted with all the current news, as well as an account of what had happened to the Andrews’ homestead, which gave him plenty to occupy his mind for the next few days. The hour being late he was shown to his own room, and bid pleasant dreams. When the door was closed and Andrews turned to view the room of his childhood, he was engulfed in a torrent of memories of the years that had passed.

“ As he wandered about the room, examining this thing and that, his own things, all the horrible years of war, hospitals, intrigue and murder of the past year seemed to slip softly into the shadows of unreality, and he was just a little boy again, in his old home, with things of his childhood. As his memory traveled back over the years, he began to explore the room to see if all his things were in their right place, as he used to do when he had been away from home for a few weeks. And as he opened one drawer after another, peered into closets, and cabinets, he was greatly relieved and grateful to find that sure enough, all were there just like he had left them years ago! His marbles, his books, his skates, his slingshot, his box of beautiful bird egg-shells, the arrowheads, his first knife that his father had given him and which he had loved so much he had hardly dared to use it, but had always saved; yes, they were all there, and he was again living and enjoying the sensations of the years gone by as he never thought to do again.

“ Presently he was attracted to a ‘presence’ across the room. Who could that strange man be, with a straggly beard and the scars across his face, peering at him from the depths of shadows over his dresser? He would move over a little and see if he could get a better look at him. But wait, how was this? When he moved the strange man over the dresser moved also, he moved back again and so did the other, and then suddenly, his mind flashed back over the years from childhood memories to the world of reality, of a middle aged man, the scarred stranger in the mirror over the dresser, and his whole being was convulsed and shaken by grief and anguish for the days and the loved ones that had gone, never to return.

“ The friendly eyes of a kind, but strict father, and the loving eyes of an indulgent mother, now looked down upon him from their places on the wall, and he became the little boy again, and his mind wandered again in the memories of the past. Finally, after some hours of this alternate switching of the scenes of life, he crept silently into bed, and was soon lost in the sleep of utter exhaustion.

“ But,” continued the stranger, “Andrews never fully recovered from the experience of that night. The wounds on the head he had received; the anxiety and tragic experiences he had gone through recently, the great grief and condemnation he had felt for his part in the death of the Great Friend of his people, and lastly the violent emotions of that first night in his boyhood room, these were more than human mind could bear, and from that day his mind would wander.

“ During the next few days in his rational hours, he soon convinced his hosts who he was, and they in the goodness of their hearts insisted upon returning the old home to him, but he would not have it so, and insisted that he must be ‘just a man’ come to live with them.

“ He seemed to some way feel that his days were numbered, and he wished to do all he could to square himself. He insisted on his old friend, the overseer, taking all his gold that he had obtained from Rothberg and paying off all the indebtedness on the old home, and fixing it up as it used to be, and also to find those former slaves if he could, and settle them on farms of their own and start them off right, which was done. And for himself, he only asked to be able to live in his old room with his boyhood memories, and be as useful as he could.

“ After all these things mentioned had been done, Andrews* mind seemed to grow gradually weaker and his lapses into his boyhood memory more frequent and prolonged. He seemed to be with his mother and father and boyhood playmates for a while and then come back to the present with its awful memories and secret sorrows.

“ His old overseer cared for him kindly, and kept him away from all people at times when his mind wandered. He gave to him the care and attention he would have given his own son.

“ It was a few years after his first return, one hot summer afternoon, Andrews was sitting in his favorite place beneath a great elm tree not a great distance from the old house, the tree being the same under which he had played through the happy days of his childhood, when a thunderstorm came suddenly over the hills, and lightning flashed in all directions.

“ His host had called to him to come inside, but he had insisted it would not rain much and he was right, it did not. But right in the midst of the squall, a blinding flash of lightning blazed through the tall reaches of the old elm tree, stripping some of the bark from the side. Andrews, standing near the trunk of the tree, to be out of the rain, seemed to draw up to full height and then was seen to pitch forward and lie still. His host, who had been looking from the window, ran to his assistance, but none was necessary. Like the great Emancipator, over whom he continually grieved, he ‘belonged to the ages!’ A merciful God had at last relieved him of his sins and sorrows, for which he had repented and asked forgiveness many times through the years.

“ They buried him beneath the old elm, where his moments of happiness had been greatest, and there he lies today — another martyr to the awful greed and lust for power and domination of the foreign money changers. ”

Chapter 26

The Stranger Concludes His Story

The stranger paused, lost in deep contemplation, for a few moments, of which I had taken advantage to clear my eyes of tears of compassion for my unfortunate countryman Andrews.

Presently the stranger spoke again, “I wish you to have a very clear idea in your mind as to the reason for Lincoln’s removal, and the consequences to the country, and to the whole world that resulted from his death. You must first realize that since money was first used there has always been a certain few people who coveted it and who through deprivations, hoarding, usury, and trickery later came to control all money and through such control, to control most all activities of man. This control, of course, became more and more concentrated down through the ages, being wrested from these people from time to time through pogroms, and revolutions, but eventually always returning to the control of either the same people or their descendants, who had either inherited, or had handed down to them as a priceless heritage, the money itself or the ‘instructions’ as to how in devious ways to get control of it.

“ No government, up to Lincoln’s time, had ever been able to figure out any way for the government itself to gain and keep control of its own money and finances.

“ This, then, was the crux of the whole situation: Lincoln had, through the help of Colonel Dick Taylor, discovered that very thing, and had used it successfully (making full legal tender ‘greenback’ money), the money they made under their plan being absolutely good money, never falling below par at any time, and being even better than the much talked of ‘sound money’ of the Money Changers and their cohort legislators.

“ True, the Money Changers had been able to get this new power away from the Government by having their satrap legislators in Congress pass the Exception Clause Bill, making the next issue of greenbacks good for payment of all debts both public and private, EXCEPT duty on imports and interest on the Government bond debt, which, of course, gave the Money Changers and Bankers the excuse, as they planned, to ‘discount’ the next issue of bills and therefore devalue and discredit them in the eyes of the public.

“ Lincoln had, as you remember, been forced to compromise with the Money Changers (as he is said to have told friends he could not fight two wars at once — the Rebels in front and the Bankers in the rear, and of the two, the Rebels were the more honorable) by giving them the ‘National Bank Law’ in order to get money enough to continue the war and ‘Save the Union’ which he was bound and determined to do at any cost; knowing, of course, that if and when he did save the Union and the war was over, he could attend to the ‘business’ of the Bankers and Money Changers.

“ He did, therefore, take the gold of the Bankers under the working of the National Banking Law, and won the war with it, and saved the Union (although he well realized it would, and did, plunge the nation into a maze of bonded indebtedness to the bankers), and by doing these things, he had become the greatest hero the Nation had ever had; that came up from the people; who knew their every problem and was loved by all.

“ Naturally, Congress would not have dared to refuse Lincoln any legislation he had deemed right and proper to have passed, concerning the money system. This, the money changers well knew he had in mind, and also the repeal of the iniquitous and dangerous National Bank Law, that they forced upon him in the crisis of the war, when he could not help himself, and also that he would put into operation a real sound money system that would not include the schemes and machinations of the Money Changers, but would forever make them an unnecessary quantity in our National monetary system, but let them stay in England and Germany and any other country that could tolerate their nefarious schemes for the economic slavery of the masses.

“ The Money Changers knowing full well that when Lincoln was able to show the rest of the world a money system, simple in action and direct and adequate in its operation, to furnish the masses a free floating, ever sufficient, medium of exchange without a morass of bonded indebtedness, that they, the Money Changers, would therefore have to eat their bread in ‘the sweat of their own faces’ instead of in the sweat of the other fellow’s face.

“ So knowing all these things they did with Lincoln just what they had done many times all down through the centuries — had him removed from power. And now it must be clear to you that these same Money Changers, through the power and ‘pull’ which they exercised over the text book people down through the years permitted only a very small account of Lincoln’s assassination to be printed in our school histories; the story of the dastardly assassination of the one truly great hero America ever had, that came up through the ranks from the most humble position, through hardship, hard work, and privation, through his own efforts, to the greatest office of honor in the power of the people to bestow, and which he so nobly and effectively filled. This has been one of their most effective ways of keeping their own devious actions from the people by minimizing them, and also a most effective way of spreading propaganda by putting it in school books.”

At this point, and before I had time to ask the thousand and one questions that had piled up in my mind, as to where he had been able to obtain all this startling and amazing information, and before I could realize what he was about to do, my strange visitor begged my forgiveness for having disturbed me for so long, saying he trusted to the goodness of God that I would be able to use what he had given me, for the relief of our sore be-leagued countrymen and all humanity, he bowed graciously and disappeared through the door into the outer darkness of the night.

I closed my eyes and sank back into my pillow exhausted from anxious attention and application in taking down in shorthand the story of my strange visitor as he told it. Hours later I was awakened by the cheery voice of my friend as he knocked at my door and called me to get up for breakfast.

Chapter 27

The Awakening

I awoke in a daze as the remembrance of the visitor and his story of the amazing and tragic happenings poured in upon my consciousness. “Heavens!” I exclaimed to myself, “I must have dreamed all that.” And springing from my bed, I reached for my notebook, as I seemed to remember that I had written the story down as the stranger had recited it to me, and sure enough, there it was, page after page, clear and distinct as any notes I had ever taken in my life, in my own writing.

I was so excited I could hardly dress, and as soon as I could make myself presentable, I rushed out to tell my friends of the experiences of the night. They were beginning to have a good laugh at my expense, when I told of the visitor and my host remarked that he was afraid I had eaten too much roast for dinner the night before, and had been working too constantly.

But you may imagine their surprise and consternation when I showed page after page of my notes and read the amazing narrative, that they vowed was impossible for me to write in one night! I hastened to swear to them that none of the story had existed the night before, and that being tired I had gone to bed early. When I came to the place in the story which told of the old Andrews’ Plantation, I noticed my hostess catch her breath and start to say something, but then bade me proceed. As the story progressed she and her husband seemed to have come to a common agreement between themselves, as they would exchange glances each time new mention was made of the Andrews home.

When I had finished, none of us seemed able to speak for a time. Then my host asked if I had any idea where the Andrews plantation might be located. I replied that the story as I read it to them from my notes, was all I had to go on, so, of course, I knew nothing more than that.

They then asked who my strange visitor was, and only then I realized for the first time that he had not once spoken of himself, and had not even introduced himself on entering the room, which I had not noticed at the time, having just awakened, which I explained to them.

We then had breakfast and discussed some of the details of the story as we ate and when we had finished, my host, turning to me said, “It seems incredible, and if anyone but you should tell me such a thing and yet tell me that he knew nothing of the Andrews plantation, I would know he was just plain lying. But we, of course, both know that in the days you have been here, you have met no one and have worked incessantly, and would have no way of knowing, but I must tell you that this, our home, is the Andrews’ home spoken of by the stranger!

“ The history of the family is, as we have had it told to us, substantially as you relate it, even to young Andrews being killed by lightning, and he is actually buried up the path a little way under a great elm tree with a trace of lightning blast visible on the trunk. But he was supposed to have returned after the war with a weak mind, and had been absent for a time, sufficient for the happenings to take place and the property to be taken by the State.

“ The old superintendent, who bought the place, died without children and it passed on to relatives, and has come down through the years practically unmolested, and in the parlor, where you have not been shown yet, hangs the picture of young Andrews, his father and mother, and other relatives. Come, I will show you.” And with that we all went into the parlor.

My hostess raised the window shades, and as my eyes became accustomed to the light, I started back in amazement, for there, looking straight at me from the opposite wall, less the scars, was the face of my strange visitor of the night before!

I was so upset for a time that I could only stand and stare at the picture, and my host and hostess hastened to ask what the matter was. I could scarcely more than utter the words to exclaim that my visitor’s face and the face before me, the photograph of young Andrews, were undoubtedly the same!! My friends were stunned by my words as I had been at my first glance at the picture, and wringing her hands, my hostess exclaimed, “Heavens above! Are we all going mad?”

“ Come, let us get out into the yard into the sunshine, and into the world of reality where we can think.”

We gladly followed her into the yard and into the world of reality, only to find in the days to come that the amazing tale in my notebook strangely fitted into the maze of known facts of past history, which alone and apart from each other, could mean nothing, but when placed in order, as they had been by my strange visitor, made one of the most sinister and enlightening disclosures in our history, and opens up to us, the descendants of those brave and honest fighters, who loved and supported the Great Emancipator, in his valiant endeavors, a vast field of useful knowledge, that should enable us to immediately rally to the call from the murdered martyrs of the past, to forever banish from our beloved land this hideous, vulturous, treacherous, murderous power of concentrated gold, that holds the whole civilized world in a thrall of economic slavery.

Chapter 28


The cries of the half starving and miserable children and their unemployed parents come to us from over the nation, while they are striving to keep going in a decent and orderly manner, while daily being deluded and deceived by a subsidized press into thinking this is “just one more depression and will soon be over” to keep them still, while being robbed of their last possession and starved into submission.

Well, dear friend, there is the picture of our America as we find it today. Your thought is likely; what are we going to do about it? If you will stop to consider the question for a few minutes, you must conclude that all conditions, or state of being, that are brought about by man, have a well thought out starting place, or a foundation, upon which they are established, and from which all policies and actions must be directed.

Very well then, we will start with the FACT that the whole civilized world of today is being more or less controlled and exploited by a group whom we will call the International Money Changers. We must conclude that this group did not come by, or attain, this control accidentally.

If not, how did they attain it? On what foundation are their aims, policies and activities based? Anyone that gives this subject careful consideration from the above standpoint, must come to the conclusion that in a nation where private ownership of property is practiced, a thing called money is very necessary to carry on what we call business, or the exchange of labor and the products of labor and services. This thing called money, therefore, being exchangeable for each and everything that exists, including man’s time at work, or labor, is the one all important thing in a nation that vitally affects its daily life.

One must conclude, therefore that the Money Changers’ group, after having decided that they wished to dominate and exploit the people of the world, must have come to the above conclusion also, and having decided that the person, or group, that could get hold of and control the money of a nation, could successfully control and exploit the people. History bears out this very conclusion for we see all down through the centuries this same identical group getting, hoarding, lending at usury, and manipulating the money of all nations. They have consistently operated this racket and handed down from father to son, and family to family, this knowledge and practice, as a priceless heritage, to be guarded and used for this very purpose.

Once the reader has definitely decided that the above conclusion is correct the questions present themselves: How did they gain this control, and what are we going to do about it?

You cannot have carefully read through the pages of this book and not know very definitely that the foreign money changers got control of our nation by first controlling certain of our National Legislators, through bribery, corruption, or other means, and influencing, or forcing them (the legislators) to pass laws giving the foreign money changer group the privileges of issuing and controlling our money system and establishing their own banks and banking system.

History tells us that practically no great social change or reform has ever taken place unless, and without, about half of the existing population being killed off, and that the downfall of each civilization, of which we have any record, occurred when a time in the life of each one was reached that practically all the tangible wealth of the country was in the hands of a very small per cent of the people. That very condition faces our nation today.

Shall we go the same way as past civilizations? What factors do we possess today that they of past civilization did not possess that might work toward saving us from such a fate? Aside from a more general education, there seems to be only two: first, a highly developed communication system; second, the enormously increased power of production per man.

The money changers now have nearly complete control of our communication systems which they use to propagandize us into doing their bidding. Many people believe that the power of government is being used by them now through the many alphabetical organizations of the Brain Trust to get control of our great power of production, even to the killing of unborn pigs, of cattle, of sheep, and of plowing under and restricting the growing of cotton, wheat, corn and etc., to be able to completely control our national and individual life.

There is no weapon to be used by a group equal to the power of gold when that is made the basis of a nation’s money. If any nation is now going to try to throw off the encircling chains of economic slavery of the money changer group, that nation must FIRST take away from the money changers their power to control the money of the nation, for that is their chief weapon and through its use and manipulation all other advantages are obtained, and all other rackets are perpetuated.

Through the manipulation of the nation’s money system, the money changers have now obtained virtual possession and control of all our principal communication and transportation systems, our public utilities systems; and together with the use of money manipulation, usury, stock exchange gambling, and the exploiting power of these aforementioned systems they have now mortgaged practically every piece of property in our nation to themselves.

Now just why do the “Money Changers” want the power to issue and control money? Well, just suppose for instance, my dear reader, that you were a very selfish individual and wanted to take every advantage you possibly could of the people among whom you lived, just anything that all the people had to have, that you could get the law makers to give you control of, would be a grand concession, would it not? You could restrict your output and make it scarce and consequently make the people trade you more of their product for yours than it was actually worth, or in other words, change the value of your product in terms of exchange of produce? Certainly you could and would if you had a mind and disposition that the money changer crowd have, and that is just exactly what they do with money, once they get control of the issuing power of it. And that is why they are called “Money Changers.” Now why do they choose money to exploit?

Simply because money was created to be a token or a thing which would stand for and be exchangeable for all produce and labor, therefore, it is one of the prime necessities in the realms of trade and commerce and another thing, it is easily stored, does not depreciate in itself, and the really big and bad thing is it CAN BE LOANED AT INTEREST or USURY, and be made to work for you while you sleep, so back of the whole mess is the wicked, vicious, hideous destroyer of nations and civilizations, the practice of “USURY.”

Therefore, once we have taken back the power to issue and control the value and volume of our money, and placed that control in the hands of Congress, where our good old Constitution placed it, we must use the power of Eminent Domain, also given our government by our Constitution, and take over and operate under our government these systems of transportation, communication, oil, gas and coal, as they are all natural monopolies and should belong to our people as a whole and not for the exploitation of any particular group.

Once these two first steps are completed the other necessary steps to make our nation a happy, vigorous, industrious, virile, law abiding nation, free from hunger, unemployment and panic; forging ahead to a prosperity and development such as has never been known, will be comparatively easy to accomplish.

And how to bring this about?

Inform yourself, tell your friends and neighbors, convince them, call meetings, educate yourselves and others; form committees in each district to wait on your Congressmen and Senators and inform them, in no uncertain terms, just exactly what you want, and see that they do it or else —

You must all remember that it was only through the ability to corrupt, bribe, or control in one way or another, enough national congressmen and senators to get the necessary legislation passed to give the Money Changers possession of our monetary systems. We must get our rights re-established the same way, by seeing that our legislators pass the necessary laws to do so.

And finally, as we realize that only by a predatory group, first obtaining control of our Nation’s money system, can it get and control the nation, let us insist on our National Congress passing a law making the introduction of a measure in either the Senate or the House that would in any way take the issuing power and control of money from the hands of Congress, a treasonable offense, punishable by death before a firing squad. It is high time that we put a stop to the activity of treacherous legislators selling out their country.

The International Money Changers are in the saddle. They are out to rule or ruin the world. Do you believe they own the money and the munition works, that they foment trouble between nations, get them into war, loan the nations their money, creating a bonded debt to buy their munitions, to kill each other off, deplete their manhood and mire them in debt so they may be easier controlled, all by the power of GOLD? And their power was obtained through crooked legislators?

Mr. Average Man and Woman of our troubled America, you have shifted the responsibility of your duty to yourself and your nation — of giving time and thought to what is done by your legislators, whom you send up there to do it — long enough. It is up to you, individually and collectively, to get busy now, if you wish to save your necks and the future independence of your nation. DO IT NOW, TOMORROW MAY BE TOO LATE!

The voices of our brothers call to us from the graves in a foreign land, to make good our pledge to them of a “world safe for Democracy.”

The voices of our fathers of the Civil War call to us from the graves of Gettysburg, to finish the work they so nobly began, of freeing mankind from slavery, their part to free the black man from chattel slavery, ours to free all men from a worse bondage — economic slavery.

The voices of our ancestors of Bunker Hill, Lexington, and Valley Forge call to us across the years to regain and uphold the rights of Freedom they fought for so valiantly, to win for us.

Earnestly, tenderly, Jesus is calling across the centuries from the Cross on Calvary, “I am the Way, the Truth, and the Life.” He set us the example of driving the Money Changers from the Temple. He pleads with us through the Sermon on the Mount to apply the principles of the Golden Rule in our every day lives, and redeem our debauched young people from a life of shame and ruin by liquor, drugs, white slavery and corruption, that is being fastened upon them by the same nefarious, inhuman, foreign money changers, who own the liquor business, the tobacco business, the drug traffic, the white slave traffic. Find out for yourself, the information is available.

Can you sit still and suffer the yoke and chains of a terrible economic serfdom to bind us, for evermore, when we are so ardently called to the service to Humanity?

When the God of Nature has showered an abundance of all good things upon us, shall we meekly let it be destroyed and ourselves and our descendants be forced into an economic slavery to these worse than devils? No! A thousand times NO! But “Beneath the Starry Flag together we will firmly stand, for the freedom of our own beloved Home.”

Father Abraham we hear you calling from a martyr’s grave — “Arise, ye Christian Americans, while yet there is time, and once and for all time smash this arch enemy of Christianity, Democracy and economic freedom. The dawn of a new and glorious future of economic security, and plenty for all awaits ONLY YOUR UNITED ACTION.


Corroborative Evidence

The following article and editorial taken from the Vancouver Daily Province of May 2, 1934, gives further light on the subject treated in this book.

OTTAWA, May 2, 1934 (CP) — Abraham Lincoln, the martyred emancipator of the slaves, was assassinated through the machinations of a group representative of the international bankers, who feared the United States President’s national credit ambitions — and the plot was hatched in Toronto and Montreal. This was the information imparted to the House of Commons committee on banking and commerce Tuesday by Gerald G. McGeer, K. C, Vancouver lawyer and advocate of social credit, during a five-hour attack upon the present financial system.

“The evidence discloses that instead of being a patriot, John Wilkes Booth, who assassinated Lincoln in a Washington theatre, was a mercenary,” Mr. McGeer declared. Basing his beliefs upon an exhaustive study of unexpurgated copies of the evidence given by secret service agents at Booth’s trial, he declared the only group that could benefit by Lincoln’s death and who had the money to carry out such a plan, was the international bankers.

“The South worshipped Lincoln and looked upon him as the only one who would secure them justice in defeat. If they wished to kill him they had splendid opportunities and could have secured a thousand who would do the job,” McGeer said.

Hatched in Canada

“According to the evidence given at the trial, the plot to assassinate Lincoln was first disclosed in Montreal and Toronto,” Mr. McGeer said. “A group of men representing the Confederacy were operating in Canada with headquarters in those cities. During the winter of 1864 and 1865 they were approached by an unknown group with the proposition to assassinate Lincoln, “They were not from the South nor connected with the Southern government, because representatives of the South in Canada hesitated to consider the proposal until it had been submitted to the South for approval.

“Booth was engaged to organize the assassination. It was proposed to the Southern government as a plot to kidnap Lincoln and hold him as a hostage for the purpose of bargaining for terms of settlement.

Cost No Factor

“In accordance with this plan a request was made to confer commissions in the Southern army upon those who were to engage in the actual kidnapping or assassination of Lincoln.

“The men responsible for instigating the crime were unknown, but in evidence given at the trial they were described as a group which could undertake anything without regard to cost.

“Booth was never a Southern patriot in the real sense. He was never in the Southern army, and one of his associates was a deserter from that army.

“Shortly before Lincoln was assassinated one of the men engaged by Booth declared that he was going away on a visit and that he would return with plenty of gold.

“Lincoln was wont to describe the men opposing his greenback currency policy as ‘the secret foes of the nation.’ The battle between Lincoln and the sound money men of the day was well known. In 1864 he was elected on a platform that contained a plank declaring for national currency.

“Lincoln was the most powerful reformer of his day. Had he lived he would have established a national currency system in the United States.

“There was only one group in the world at that time who could finance anything they cared to attempt without regard to cost, and who had any reason to desire the death of Lincoln.

“They were the men opposed to his national currency programme and who had fought him throughout the whole Civil War on his policy of green-back currency.

“They were the men interested in the establishment of the gold standard system and the right of the bankers to manage the currency and credit of every nation in the world.

“With Lincoln out of the way they were able to proceed with that plan and did proceed with it in the United States. Within eight years after Lincoln’s assassination silver was demonetized and the gold standard money system set up in the United States.”

Corroborative Evidence

From the Daily Province — Wednesday, May 2, 1934

McGeer at Ottawa

All the despatches from Ottawa suggest that Mr. McGeer has achieved a real personal triumph with his speech before the Commons committee on banking and currency. By virtue of that single speech he appears to have become a national figure, as Bryan became a national figure in the United States through a single speech on a similar topic nearly forty years ago.

The people who haunt the halls and committee rooms on Parliament Hill and the lounges and corridors of the Chateau Laurier are practised tasters of speeches. They live in an atmosphere of public speaking. They are accustomed to listen to the best Canada can produce and they not infrequently hear the best from other lands. It is no mean compliment, then, when the men sit for six hours listening to the criticisms and theories and plans of the crusader from the West.

Mr. McGeer has gone far in the past two or three years, and all through the marvelous energy, vitality and industry and the native ability stored up in himself. He was easily the central figure in the session of the Legislature at Victoria. He turned the Public Accounts Committee from its usual practice of tracking down petty partisan expenditures to a study of public finance. He forced his plan through the committee and the committee report through the Legislature. He was a whole opposition in himself. For days on end he stole the show from the Premier and the government. Now, in his single day on Parliament Hill, he has stolen the show again.



Whatever the answer, the fact remains that Gerry McGeer has done more, probably, than any other man to make the monetary question a national issue in Canada. It is hardly likely he has reformed the ideas of the hard-boiled committee on currency and banking. He probably never expected he would. But as the prophet of a New Deal in Canada, he has got his plan before the country. He has made criticism which can not be ignored or treated with contempt. Whether they are right or wrong in their criticisms, Gerry McGeer, Major Douglas and the other honest critics of the existing monetary system have now gained enough currency for their criticisms and theories to demand a better answer than has yet been given by the upholders of things as they are.”


The following chart and notes (revised), reprinted from “New Economics,” Melbourne, Australia, November 23, 1934, gives a graphic picture of the world setup as in force today and should cause all lovers of liberty and democracy to think and then act, while yet there is time.

Super World Government. from Lincoln Money Martyred. 1935. Creative Commons Attribute


HIGH FINANCIAL POLICY. “Produce more, consume less.” The theory is that national prosperity depends on personal abstinence. Consequence — a fast expansion of the MEANS OF PRODUCTION (capital resources), but no corresponding expansion of the means of life.

POLICY OF THE INDIVIDUAL. To increase his consumption relatively to his expenditure of energy. More goods for less work. Policy justified by reason of modern machine production.

THE DOMINANT POLICY. Financial policy prevails because it is made effective through the control of financial credit, which is a monopoly of the banking system.

INSTRUMENTATION OF POLICY. The banking system uses its monopoly to encourage the multiplication of factories and plant, and to discourage the output of consumable goods. The result is the “exportable surplus” and the struggle to dump it abroad. Hence war. Against this tendency the individual can, in theory, use the power of his vote. But as Finance defines the issues on which he may vote, his political power is diverted to irrelevant issues, and so dissipated.

INTERNAL GOVERNMENT. In Great Britain, the power over policy proceeds from the Bank of England, in association with the “Big Five” banks, through the Treasury, then through the Chancellor of the Exchequer, who delimits the initiative of his colleagues in the Cabinet. The Cabinet in its turn arranges the main issues to be discussed by Parliamentary Committees, and debated by the full House. If the House should reject any one of these issues, it condemns itself to dissolution. Notice that the principle of popular election ends at the House of Commons; that is the third removed down from the source of national policy. The personnel of the banks, the Treasury, and the Cabinet is decided by secret nomination.

WORLD GOVERNMENT. The accompanying plan shows the extension of the above system to international affairs. The “central bank” of every nation, while dominating that nation’s policy, as described above, is itself an agent administering the policy of an international banking trust of which it is a member. Thus the ultimate control of every nation’s policy is outside that nation. This control is to be exercised, in appearance, by the Council of the League of Nations — a sort of Cabinet of Europe. The Assembly of the League may be called the European Parliament. The League’s International Commissions of various sorts are like so many Parliamentary Committees. Notice that, unlike national Parliaments, not even the Assembly, much less the Council, of the League, is popularly elected. Both are secretly nominated. Finance controls the nominations. Thus, the control of policy is not, even in form, granted to the millions of people whose destinies are involved in the system. Democracy is at an end — if it ever had a beginning.

THE ROLE OP NATIONAL PARLIAMENTS AND CONGRESSES. These institutions have no function left but that of persuading or coercing the public into acquiescence in a condition of economic scarcity deliberately decreed by external financial policy. The available national income has to be rationed out to Capital and Labor in such manner as to postpone the outbreak of industrial hostilities.

THE ROLE OF THE LEAGUE OF NATIONS. This body’s function is to ration the available world income among nations by rationing their markets in such manner as to postpone a fresh outbreak of war.

THE FINAL ISSUE. Every economic and political problem in the world can be resolved into a conflict between the individual, who says, “I must consume in order to live,” and the world financial autocracy, which says, “You must not consume if you would live.” The conflict, for instance, between Capital and Labor is at root a struggle between two bodies of would-be consumers over a given quantity of purchasing power which is being kept insufficient by the banking system as a matter of policy. Neither party to the struggle is responsible for the occasion of the struggle, nor can remove it by strikes and lock-outs.

THE MORAL. This international stranglehold can be broken when the nominated Cabinet, or Congress, is faced by a united people on the one vital issue, namely: “That Financial Credit, being of this People, should be controlled by this People for this People.” Capital and Labor must call an industrial truce and collaborate . . . and ultimately to detach these banks themselves from the international trust which they serve. After all, these repressive institutions are simply small groups of ordinary human beings whose natural desires and aspirations are being thwarted by reason of this existing chain of institutional allegiances. When each nation resumes its power of financial self-determination — when its Parliament, banks, industries, and citizens are free to concentrate on the program of internal production and consumption — there will be no need for a League of Nations, unless it be as a clearing house for the renascent cultures of an emancipated world’s peoples.

Amschel Mayer Rothschild (the originator of the House of Rothschild) said, “Permit me to issue and control the money of a nation and I care not who makes the laws.”

The “permitting” was begun when his five sons were put in control of the five great banks of England and Europe and given (?) the privilege of issuing the paper money.

President Garfield (just before he was assassinated) said, “He who controls the money of a nation, controls the nation.” Which we can now see working in all countries of the world. The Control Board of the Bank of International Settlements is said to be composed of one or more members from the board of each of the Central Banks of the various nations.

Thus we find that the people of a nation never get to vote on the POLICY of their government, but only on which PARTY the Conservative, or Liberal, the Democratic, or Republican, shall ADMINISTER THE POLICY handed down from above as here shown.

The PEOPLE’S WISH and WILL for an ECONOMIC PLENTY is BETRAYED and set aside, in the Committee Rooms, the Cloak Rooms, the Bill Registration Rooms, or by a small BAND OF TRAITOROUS legislators, who sell the people out to the MONEY CHANGERS for PIECES OP SILVER or GOLD, even as did the other Judas two thousand years ago.



The following resume of what is money and the judicial decisions concerning our Congressional rights in the issue of money, are reprinted with permission from “What Is Coming,” by L. E. Stowe and are a very valuable collection for the student of money as a reference.

What Is Money?

From “What Is Coming,” by L. E. Stowe

For the benefit of those who scoff at paper money and government control of the issue of money, let us quote some authorities on the subject:

What Is Money?

"Money is a creation of law.” — John Stuart Mill, Economist.

"Money is a creation of law. It is a measure of value by comparison, whereby we ascertain the comparative values of all merchandise, or it is a sign which represents the respective value of all commodities.” — Blackstone, the English Law Giver.

Attorney General Ackerman, in speaking of the legal tender act, said: “We repeat, money is not a substance, but an impression of legal decree.”

"The theory of the intrinsic value of money has been abandoned by the best writers and speakers.” — Encyclopedia Britannica.

"Metallic money while acting as coin, is identical with paper money in respect to being destitute of intrinsic value.” — North British Review.

"An article is determined to be money by reason of the performance by it of certain functions, without regard to its former substance.” — Appleton’s American Encyclopedia.

"Money is an ideal thing; the coin or government legal tender paper bill is the tool or visible expression of that ideal thing. The tool that represents that idea depends as much upon the law of supply and demand for its value as does the wheat or any other commodity.

"Congress alone has the right to issue money and regulate the value thereof.” — Our Constitution.

"The general government ceases to be independent, it ceases to be safe, when the national currency is at the will of a company.” — Thos. H. Benton.

Read the following extract from a speech of John C. Calhoun of South Carolina, delivered in the United States senate during the panic of ’37-’38:

"We are told there is no instance of a government paper that did not depreciate. In reply I affirm there is none, assuming the form that I propose, that even did depreciate. Whenever a paper receivable in the dues of a government had anything like a fair trial it has succeeded.”

"When all our paper money is made payable in specie on demand, it will prove the most certain means that can be used to fertilize the rich man’s field by the sweat of the poor man’s brow.” — Daniel Webster,

"Whatever a government agrees to receive in payment of the public dues, as a medium of circulation is money, no matter what its form may be, trading notes, drafts, etc. Such bills or paper issued under the authority of the United States is money.” — Henry Clay, in the Senate, 1837.

"Gold and silver are not intrinsically of the same value with iron. No method has hitherto been found to establish a medium of trade equal in all its advantages, to bills of credit, (greenbacks) made a legal tender.” — Benjamin Franklin.

"I sincerely believe that banking institutions are more dangerous to liberty than standing armies.” — Thomas Jefferson’s Works, Vol. VI, page 608.

"Bank paper must be suppressed and the circulating medium must be restored to the nation, to whom it belongs. It is the only fund on which they can rely for loans; it is the only resource which can never fail them, and it is an abundant one for every necessary purpose. Treasury bills, bottomed on taxes, bearing interest or not bearing interest, as may be found necessary, thrown into circulation, will take the place of so much gold and silver.” — Thomas Jefferson’s Works, Vol. VI, page 199, letter of September 11th, 1813.

"I have ever opposed money of bankers; not of those discounting for cash, but of those fostering their own paper in circulation and thus banishing our cash. My zeal against these institutions was so warm and open at the establishment of the bank of the United States that I was derided as a maniac by the tribe of bank mongers who were seeking to filch from the public.” — Thomas Jefferson in a letter to President Adams, January 24, 1814.

"Charter a bank with $35,000,000, let it establish and learn its power, and then find, if you can, means to bell that cat;

it will be beyond your power; it will over-awe Congress and laugh at your laws.” — John Randolph.

"As a result of the war, corporations have been enthroned, and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of the war. God grant that my suspicions may prove groundless.” — Abraham Lincoln.

"Whoever controls the volume of money in any country is absolute master of all industry and commerce.” — James A. Garfield.

King Solomon demonetized silver, the lesser metal, and brought destruction and ruin to his country.

Five hundred B. C. the precious metals were found inadequate to the needs of Greece. Solon reduced the metal in the coin, thereby expanding the currency, and thus saved Attica from a deluge of blood.

Five hundred years later Julius Caesar found the precious metal insufficient to supply the circulating medium of Rome, and he took the privilege of coining money from the wealthy families, to whom it had been granted, and restored it to the government, to whom it belonged, and he created a cheap metal money, and established public works and paid it out to labor; thus creating good times and the people loved Caesar, but the wealthy senators murdered him with their own hands.

The Romans, on several occasions, were compelled to reduce the metal in the coins to increase the volume of money to carry on their wars.

“At the Christian era the metallic money of the Roman Empire amounted to $1,800,000,000, by the end of the Fifteenth century it had shrunk to less than $200,000,000. . . . History records no other such disastrous transition as that from the Roman Empire to the Dark Ages. ... It is a suggestive coincidence that the first glimmer of light only came with the invention of bills of exchange, and paper substitutes, through which the scanty stock of the precious metals was increased in efficiency.” — Report of the United States Silver Commission in 1876.

England was compelled to reduce the metal in her coin several times and the money- changers tried to force her back, but failed. She was finally compelled to adopt paper money and suspend specie payment.

Gold deserted the United States on several occasions and always brought disaster until we resorted to paper money, when the absence of gold did not trouble us until we attempted to get back to a gold standard, when it brought ruin and dispair.

Henry A. Martin, the French historian, tells us that France tried to adopt a system of paper money, but the money changers crippled it as did our bankers cripple our paper money during the Civil War, yet such prosperity did that money give France that England determined to destroy its power and paid from her secret service fund one Dembies, a cabinet officer, a hundred thousand crowns per annum to intrigue against this money and as much more to M. D’Argenson for the same purpose.

The bankers told Andrew Jackson if he vetoed the old United States bank bill they would ruin the business of the country. He vetoed it and some one tried to assassinate him; he well knew what for.

In 1881 Congress was flooded with petitions to pay the bonds with paper or silver, or to convert them into small interest bearing bonds, payable at the government’s option. The bankers said if you do either we will ruin the business interests. This is known as the bankers rebellion of 1881. (Freeman 0. Wiley. Whither Are We Drifting as a Nation.) Congress failed to do either, but Garfield did convert them into small interest bearing bonds and circumstances point to that, and his utterances upon finance questions at that time as the cause of his assassination.

Constitutional Money

Here are the state cases in which the constitutionality of the legal tender money are passed upon, and where the same may be found, and what the judges said in some of the cases:

Carpenter vs. Northfield Bank (39 Vt. 46);

Shollenberger vs. Brinton (52 Pa., St. 9);

Verges vs. Gibony (38 No. 458);

Brown vs. Welch (26 Ind. 116);

Latham vs. United States (1 Ct. of CI. 149);

Lick vs. Falkner (25 Cal. 404);

Curiae vs. Abadie (Id. 502);

Kierskie vs. Hedges (23 Ind. 141);

Britenback vs. Turner (18 Wis. 110);

Jones vs. Harker (37 Ga. 503);

Reynolds vs. Bank of the State (18 Ind. 467);

Wilson vs. Trebilcock (23 la. 331);

Met. Bank vs. Van Dyck (27 N. Y. 400);

Hague vs. Powers (39 Borb. N. Y. 427);

Roosevelt vs. Bull’s Head Bank (45 Ind. 579);

Murry vs. Gale (52 Id. 427);

George vs. Concord (45 N. H. 434);

Van Husan vs. Kanouse (13 Mich. 303);

Hintra vs. Bates (18 la. 174);

Maynard vs. Newman (1 Nev. 271);

Milliken vs. Sloat (Id. 573);

Borie vs. Trott (5 Phil., Pa., 366);

Johnson vs. Juey (4 Coldw. Tenn., 608).

The above are copied from the reports of court decisions which were not merely questions of the constitutional power of Congress to issue legal tenders in time of war or peace, but the whole matter of the necessity of all facts for whatever purpose not prohibited by the Constitution.

Chief Justice Chase, in Hepburn vs. Griswold, stated that: “The constitutionality had never been called in question, except as to its retrospective effect, and then by the submission of the people to this and contemporaneous construction of other courts, bring to its relief a general principle of law, which has all the force of law itself. The mere fact that there is a concurrence is an argument in favor of the proposition, which is concurred in by the different courts.”

Attorney-General Akerman, in arguing in favor of the constitutionality, said: “Congress has never hesitated to enact what should be legal tender in payment of debts. The right to thus FORTY-EIGHT — PC — Lincoln 6Y 6-13

enact has been assumed in twenty-four statutes, passed in presidences of “Washington, Jefferson, Madison, Monroe, Jackson, Tyler, Polk, Fillmore, Pierce, Lincoln and Johnson. . . . The Constitution nowhere declares that nothing shall be money unless made of metal.”

Jullard vs. Greenman (U. S. Reports, Vol. 110, page 421.)

Supreme Court Decision

Congress has the constitutional power to make the Treasury notes of the United States a legal tender in payment of private debts, in time of peace, as well as in time of war.

“Under the act of May 31st, 1878 (ch. 146), which enacts that when any United States legal tender notes may be redeemed or received into the Treasury, and shall belong to the United States, they shall be reissued and paid out again, and kept in circulation. Notes so reissued are a legal tender.

Submitted to Supreme Court, 1884, decided March, 1884, the opinion of the court being delivered by Mr. Justice Gray.

Upon full consideration of the case the court is unanimously of the opinion that it cannot be distinguished in principle from the cases heretofore determined, repeated under the names of the Legal Tender cases (12 Wallace), Dooley vs. Smith (13 Wallace), R. R. Co. vs. Johnson (15 Wallace), and Maryland vs. R. R. Co. (22 Wallace).”

This should forever set at rest the question of the rights of government to issue paper money, pure and simple.