John Adams. 1735-1826
"Our Constitution was made only for a moral and religious people.
It is wholly inadequate to the government of any other."
--- John Adams
A desire to be observed, considered, esteemed, praised, beloved, and admired
by his fellows is one of the earliest as well as the keenest dispositions
discovered in the heart of man.
When people talk of the freedom of writing, speaking or thinking I cannot
choose but laugh. No such thing ever existed. No such thing now exists; but
I hope it will exist. But it must be hundreds of years after you and I shall
write and speak no more.
Genius is sorrow's child.
Think of your forefathers! Think of your posterity.
Yesterday the greatest question was decided which ever was debated in
America; and a greater perhaps never was, nor will be, decided among men. A
resolution was passed without one dissenting colony, that those United
Colonies are, and of right ought to be, free and independent States.
Letter to Mrs. Adams, July 3, 1776.
Mr. Webster says of Mr. Adams: "On the day of his death, hearing the noise
of bells and cannon, he asked the occasion. On being reminded that it was
'Independent Day,' he replied, 'Independence forever.'"--Works, vol. i. p.
150. Bancroft: History of the United States, vol. vii. p. 65.
http://www.posse-comitatus.org/McFadden.html
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Suggest you'all print this
for your bedtime reading; thirty-six pages.
You may want to consider making copies
for your friends, and for those who have been
forced to attend a corrupt public school.
lol
Bard
Visit me at:
The Center for Exposing Corruption in the Federal Government
http://www.xld.com/public/center/center.htm
Federal Government defined:
....a benefit/subsidy protection racket!
Subject: "The Federal Reserve-A Corrupt Institution"
On May 23, 1933, Congressman, Louis T. McFadden...
brought formal charges against the Board of Governors of the Federal Reserve Bank
system, The Comptroller of the Currency and the Secretary of United States Treasury
for numerous criminal acts, including but not limited to,
CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON.
The petition for Articles of Impeachment was thereafter referred to the Judiciary
Committee and has YET TO BE ACTED ON. So, this ELECTRONIC BOOKLET should be reprinted,
reposted, set up on web pages and circulated far and wide.
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Congressman McFadden on the Federal Reserve Corporation
Remarks in Congress, 1934
AN ASTOUNDING EXPOSURE
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Reprinted by permission 1978 Arizona Caucus Club
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Congressman McFadden's Speech
On the Federal Reserve Corporation
Quotations from several speeches made on the Floor of the House of Representatives by
the Honorable Louis T. McFadden of Pennsylvania. Mr. McFadden, due to his having
served as Chairman of the Banking and Currency Committee for more than 10 years, was
the best posted man on these matters in America and was in a position to speak with
authority of the vast ramifications of this gigantic private credit monopoly. As
Representative of a State which was among the first to declare its freedom from
foreign money tyrants it is fitting that Pennsylvania, the cradle of liberty, be again
given the credit for producing a son that was not afraid to hurl defiance in the face
of the money-bund. Whereas Mr. McFadden was elected to the high office on both the
Democratic and Republican tickets, there can be no accusation of partisanship lodged
against him. Because these speeches are set out in full in the Congressional Record,
they carry weight that no amount of condemnation on the part of private individuals
could hope to carry.
The Federal Reserve-A Corrupt Institution
"Mr. Chairman, we have in this Country one of the most corrupt institutions the world
has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks,
hereinafter called the Fed. The Fed has cheated the Government of these United States
and the people of the United States out of enough money to pay the Nation's debt. The
depredations and iniquities of the Fed has cost enough money to pay the National debt
several times over.
"This evil institution has impoverished and ruined the people of these United States,
has bankrupted itself, and has practically bankrupted our Government. It has done this
through the defects of the law under which it operates, through the maladministration
of that law by the Fed and through the corrupt practices of the moneyed vultures who
control it.
"Some people who think that the Federal Reserve Banks United States Government
institutions. They are private monopolies which prey upon the people of these United
States for the benefit of themselves and their foreign customers; foreign and domestic
speculators and swindlers; and rich and predatory money lender. In that dark crew of
financial pirates there are those who would cut a man's throat to get a dollar out of
his pocket; there are those who send money into states to buy votes to control our
legislatures; there are those who maintain International propaganda for the purpose of
deceiving us into granting of new concessions which will permit them to cover up their
past misdeeds and set again in motion their gigantic train of crime.
"These twelve private credit monopolies were deceitfully and disloyally foisted upon
this Country by the bankers who came here from Europe and repaid us our hospitality by
undermining our American institutions. Those bankers took money out of this Country to
finance Japan in a war against Russia. They created a reign of terror in Russia with
our money in order to help that war along. They instigated the separate peace between
Germany and Russia, and thus drove a wedge between the allies in World War. They
financed Trotsky's passage from New York to Russia so that he might assist in the
destruction of the Russian Empire. They fomented and instigated the Russian
Revolution, and placed a large fund of American dollars at Trotsky's disposal in one
of their branch banks in Sweden so that through him Russian homes might be thoroughly
broken up and Russian children flung far and wide from their natural protectors. They
have since begun breaking up of American homes and the dispersal of American children.
"Mr. Chairman, there should be no partisanship in matters concerning banking and
currency affairs in this Country, and I do not speak with any.
"In 1912 the National Monetary Association, under the chairmanship of the late Senator
Nelson W. Aldrich, made a report and presented a vicious bill called the National
Reserve Association bill. This bill is usually spoken of as the Aldrich bill. Senator
Aldrich did not write the Aldrich bill. He was the tool, if not the accomplice, of the
European bankers who for nearly twenty years had been scheming to set up a central
bank in this Country and who in 1912 has spent and were continuing to spend vast sums
of money to accomplish their purpose.
"We were opposed to the Aldrich plan for a central bank. The men who rule the
Democratic Party then promised the people that if they were returned to power there
would be no central bank established here while they held the reigns of government.
Thirteen months later that promise was broken, and the Wilson administration, under
the tutelage of those sinister Wall Street figures who stood behind Colonel House,
established here in our free Country the worm-eaten monarchical institution of the
"King's Bank" to control us from the top downward, and from the cradle to the grave.
"The Federal Reserve Bank destroyed our old and characteristic way of doing business.
It discriminated against our 1-name commercial paper, the finest in the world, and it
set up the antiquated 2-name paper, which is the present curse of this Country and
which wrecked every country which has ever given it scope; it fastened down upon the
Country the very tyranny from which the framers of the Constitution sough to save us.
PRESIDENT JACKSON'S TIME
"One of the greatest battles for the preservation of this Republic was fought out here
in Jackson's time; when the second Bank of the United States, founded on the same
false principles of those which are here exemplified in the Fed was hurled out of
existence. After that, in 1837, the Country was warned against the dangers that might
ensue if the predatory interests after being cast out should come back in disguise and
unite themselves to the Executive and through him acquire control of the Government.
That is what the predatory interests did when they came back in the livery of
hypocrisy and under false pretenses obtained the passage of the Fed.
"The danger that the Country was warned against came upon us and is shown in the long
train of horrors attendant upon the affairs of the traitorous and dishonest Fed. Look
around you when you leave this Chamber and you will see evidences of it in all sides.
This is an era of misery and for the conditions that caused that misery, the Fed are
fully liable. This is an era of financed crime and in the financing of crime the Fed
does not play the part of a disinterested spectator.
"It has been said that the draughtsman who was employed to write the text of the
Aldrich bill because that had been drawn up by lawyers, by acceptance bankers of
European origin in New York. It was a copy, in general a translation of the statues of
the Reichsbank and other European central banks. One-half million dollars was spent on
the part of the propaganda organized by these bankers for the purpose of misleading
public opinion and giving Congress the impression that there was an overwhelming
popular demand for it and the kind of currency that goes with it, namely, an asset
currency based on human debts and obligations. Dr. H. Parker Willis had been employed
by Wall Street and propagandists, and when the Aldrich measure failed- he obtained
employment with Carter Glass, to assist in drawing the banking bill for the Wilson
administration. He appropriated the text of the Aldrich bill. There is no secret about
it. The test of the Federal Reserve Act was tainted from the first.
"A few days before the bill came to a vote, Senator Henry Cabot Lodge, of
Massachusetts, wrote to Senator John W. Weeks as follows:
New York City, December 17, 1913
My Dear Senator Weeks:
Throughout my public life I have supported all measures designed to take the
Government out of the banking business. This bill puts the Government into the banking
business as never before in our history. The powers vested in the Federal Reserve
Board seen to me highly dangerous especially where there is political control of the
Board. I should be sorry to hold stock in a bank subject to such dominations. The bill
as it stands seems to me to open the way to a vast inflation of the currency. I had
hoped to support this bill, but I cannot vote for it cause it seems to me to contain
features and to rest upon principles in the highest degree menacing to our prosperity,
to stability in business, and to the general welfare of the people of the United
States. Very Truly Yours, Henry Cabot Lodge.
"In eighteen years that have passed since Senator Lodge wrote that letter of warning
all of his predictions have come true. The Government is in the banking business as
never before. Against its will it has been made the backer of horse thieves and card
sharps, bootlegger's smugglers, speculators, and swindlers in all parts of the world.
Through the Fed the riffraff of every country is operating on the public credit of the
United States Government.
THE GREAT DEPRESSION
"Meanwhile and on account of it, we ourselves are in the midst of the greatest
depression we have ever known. From the Atlantic to the Pacific, our Country has been
ravaged and laid waste by the evil practices of the Fed and the interests which
control them. At no time in our history, has the general welfare of the people been at
a lower level or the minds of the people so full of despair.
"Recently in one of our States, 60,000 dwelling houses and farms were brought under
the hammer in a single day. 71,000 houses and farms in Oakland County, Michigan, were
sold and their erstwhile owners dispossessed. The people who have thus been driven out
are the wastage of the Fed. They are the victims of the Fed. Their children are the
new slaves of the auction blocks in the revival of the institution of human slavery.
The Scheme of the Fed
"In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made
the following statement: "The whole scheme of the Fed with its commercial paper is an
impractical, cumbersome machinery- is simply a cover to secure the privilege of
issuing money, and to evade payment of as much tax upon circulation as possible and
then control the issue and maintain, instead of reducing interest rates. It will prove
to the advantage of the few and the detriment of the people. It will mean continued
shortage of actual money and further extension of credits, for when there is a
shortage of money people have to borrow to their cost.' "A few days before the Fed
passed, Senator Root denounced the Fed as an outrage on our liberties. He predicted:
'Long before we wake up from our dream of prosperity through an inflated currency, our
gold- which alone could have kept us from catastrophe- will have vanished and no rate
of interest will tempt it to return.'
"If ever a prophecy came true, that one did.
"The Fed became law the day before Christmas Eve, in the year 1913, and shortly
afterwards, the German International bankers, Kuhn, Loeb and Co. sent one of their
partners here to run it.
"The Fed Note is essentially unsound. It is the worst currency and the most dangerous
that this Country has ever known. When the proponents of the act saw that the
Democratic doctrine would not permit them to let the proposed banks issue the new
currency as bank notes, they should have stopped at that. They should not have foisted
that kind of currency, namely, an asset currency, on the United States Government.
They should not have made the Government [liable on the private] debts of individuals
and corporations, and, least of all, on the private debts of foreigners. "As Kemerer
says: 'The Fed Notes, therefore, in form, have some of the qualities of Government
paper money, but in substance, are almost a pure asset currency possessing a
Government guarantee against which contingency the Government has made no provision
whatever.'
"Hon. L.J.Hill, a former member of the House, said, and truly: "They are obligations
of the Government for which the United States received nothing and for the payment of
which at any time, it assumes the responsibility: looking to the Fed to recoup
itself.'
"If this United States is to redeem the Fed Notes, when the General Public finds it
costs to deliver this paper to the Fed, and if the Government has made no provisions
for redeeming them, the first element of unsoundness is not far to seek.
"Before the Banking and Currency Committee, when the bill was under discussion Mr.
Crozier of Cincinnati said: 'The imperial power of elasticity of the public currency
is wielded exclusively by the central corporations owned by the banks. This is a life
and death power over all local banks and all business. It can be used to create or
destroy prosperity, to ward off or cause stringencies and panics. By making money
artificially scarce, interest rates throughout the Country can be arbitrarily raised
and the bank tax on all business and cost of living increased for the profit of the
banks owning these regional central banks, and without the slightest benefit to the
people. The 12 Corporations together cover y and monopolize and use for private gain-
every dollar of the public currency and all public revenue of the United States. Not a
dollar can be put into circulation among the people by their Government, without the
consent of and on terms fixed by these 12 private money trusts.'
"In defiance of this and all other warnings, the proponents of the Fed created the 12
private credit corporations and gave them an absolute monopoly of the currency of
these United States- not of the Fed Notes alone- but of all other currency! The Fed
Act providing ways and means by which the gold and general currency in the hands of
the American people could be obtained by the Fed in exchange for Fed Notes- which are
not money- but mere promises to pay.
"Since the evil day when this was done, the initial monopoly has been extended by
vicious amendments to the Fed and by the unlawful and treasonable practices of the
Fed.
Money for the Scottish Distillers
"Mr. Chairman, if a Scottish distiller wishes to send a cargo of Scotch whiskey to
these United States, he can draw his bill against the purchasing bootlegger in dollars
and after the bootlegger has accepted it by writing his name across the face of it,
the Scotch distiller can send that bill to the nefarious open discount market in New
York City where the Fed will buy it and use it as collateral for a new issue of Fed
Notes. Thus the Government of these United States pay the Scotch distiller for the
whiskey before it is shipped, and if it is lost on the way, or if the Coast Guard
seizes it and destroys it, the Fed simply write off the loss and the government never
recovers the money that was paid to the Scotch distiller.
"While we are attempting to enforce prohibition here, the Fed are in the distillery
business in Europe and paying bootlegger bills with public credit of these United
States. "Mr. Chairman, by the same process, they compel our Government to pay the
German brewer for his beer. Why should the Fed be permitted to finance the brewing
industry in Germany either in this way or as they do by compelling small and fearful
United States Banks to take stock in the Isenbeck Brewery and in the German Bank for
brewing industries? "Mr. Chairman, if Dynamit Nobel of Germany, wishes to sell
dynamite in Japan to use in Manchuria or elsewhere, it can drew its bill against the
Japanese customers in dollars and send that bill to the nefarious open discount market
in New York City where the Fed will buy it and use it as collateral for a new issue of
Fed Notes- while at the same time the Fed will be helping Dynamit Nobel by stuffing
its stock into the United States banking system.
"Why should we send our representatives to the disarmament conference at Geneva-
while the Fed is making our Government pay Japanese debts to German Munitions makers?
"Mr. Chairman, if a German wishes to raise a crop of beans and sell them to a Japanese
customer, he can draw a bill against his prospective Japanese customer in dollars and
have it purchased by the Fed and get the money out of this Country at the expense of
the American people before he has even planted the beans in the ground. "Mr. Chairman,
if a German in Germany wishes to export goods to South America, or any other Country,
he can draw his bill against his customers and send it to these United States and get
the money out of this Country before he ships, or even manufactures the goods.
"Mr. Chairman, why should the currency of these United States be issued on the
strength of German Beer? Why should it be issued on the crop of unplanted beans to be
grown in Chili for Japanese consumption? Why should these United States be compelled
to issue many billions of dollars every year to pay the debts of one foreigner to
another foreigner? "Was it for this that our National Bank depositors had their money
taken out of our banks and shipped abroad? Was it for this that they had to lose it?
Why should the public credit of these United States and likewise money belonging to
our National Bank depositors be used to support foreign brewers, narcotic drug
vendors, whiskey distillers, wig makes, human hair merchants, Chilean bean growers, to
finance the munition factories of Germany and Soviet Russia?
THE UNITED STATES HAS BEEN RANSACKED
"The United States has been ransacked and pillaged. Our structures have been gutted
and only the walls are left standing. While being perpetrated, everything the world
would rake up to sell us was brought in here at our expense by the Fed until our
markets were swamped with unneeded and unwanted imported goods priced far above their
value and make to equal the dollar volume of our honest exports, and to kill or reduce
our favorite balance of trade. As Agents of the foreign central banks the Fed try by
every means in their power to reduce our favorable balance of trade. They act for
their foreign principal and they accept fees from foreigners for acting against the
best interests of these United States. Naturally there has been great competition
among among foreigners for the favors of the Fed.
"What we need to do is to send the reserves of our National Banks home to the people
who earned and produced them and who still own them and to the banks which were
compelled to surrender them to predatory interests.
"Mr. Chairman, there is nothing like the Fed pool of confiscated bank deposits in the
world. It is a public trough of American wealth in which the foreigners claim rights,
equal to or greater than Americans. The Fed are the agents of the foreign central
banks. They use our bank depositors' money for the benefit of their foreign
principals. They barter the public credit of the United States Government and hire it
our to foreigners at a profit to themselves.
"All this is done at the expense of the United States Government, and at a sickening
loss to the American people. Only our great wealth enabled us to stand the drain of it
as long as we did.
"We need to destroy the Fed wherein our national reserves are impounded for the
benefit of the foreigners. "We need to save America for Americans.
SPURIOUS SECURITIES
"Mr. Chairman, when you hold a $10.00 Fed Note in your hand, you are holding apiece of
paper which sooner or later is going to cost the United States Government $10.00 in
gold (unless the Government is obliged to go off the gold standard). It is based on
limburger cheese (reported to be in foreign warehouses) or in cans purported to
contain peas (but may contain salt water instead), or horse meat, illicit drugs,
bootleggers fancies, rags and bones from Soviet Russia (of which these United States
imported over a million dollars worth last year), on wines whiskey, natural gas, goat
and dog fur, garlic on the string, and Bombay ducks.
"If you like to have paper money- which is secured by such commodities- you have it in
Fed Note. If you desire to obtain the thing of value upon which this paper currency is
based, that is, the limburger cheese, the whiskey, the illicit drugs, or any of the
other staples- you will have a very hard time finding them.
"Many of these worshipful commodities are in foreign Countries. Are you going to
Germany to inspect her warehouses to see if the specified things of value are there? I
think more, I do not think that you would find them there if you did go.
"On April 27, 1932, the Fed outfit sent $750,000 belonging to American bank depositors
in gold to Germany. A week later another $300,000 in gold was shipped to Germany.
About the middle of May $12,000,000 in gold was shipped to Germany by the Fed. Almost
every week there is a shipment of gold to Germany. These shipments are not made for
profit on the exchange since the German marks are blow parity with the dollar.
"Mr. Chairman, I believe that the National Bank depositors of these United States have
a right to know what the Fed are doing with their money. There are millions of
National Bank depositors in the Country who do not know that a percentage of every
dollar they deposit in a Member Bank of the Fed goes automatically to American Agents
of the foreign banks and that all their deposits can be paid away to foreigners
without their knowledge or consent by the crooked machinery of the Fed and the
questionable practices of the Fed.
[Ed. Note- Problem with next paragraph in original] "Mr. Chairman, the American people
should be told the truth by their servants in office. In 1930, we had over a half
billion dollars outstanding daily to finance foreign goods stored in or shipped
between several billion dollars. What goods are these on which the Fed yearly pledge
several billions of dollars. In its yearly total, this item amounts to several
billions of dollars of the public credit of these United States?
"What goods are those which are hidden in European and Asiatic stores have not been
seen by any officer of our Government but which are being financed on the public
credit of the United States Government? What goods are those upon which the 17 United
States Government is being obligated by the Fed to issue Fed Notes to the extent of
several billions of dollars a year?
The Bankers' Acceptance Racket
"The Fed have been International Banks from the beginning, with these United States as
their enforced banker and supplier of currency. But it is none the less extraordinary
to see these these twelve private credit monopolies, buying the debts of foreigners
against foreigners, in all parts of the world and asking the Government of these
United States for new issues of Fed notes in exchange for them. "The magnitude of the
acceptance racket as it has been developed by the Fed, their foreign correspondents,
and the predatory European born bankers, who set up the Fed here and taught your own,
by and of pirates, how to loot the people: I say the magnitude of this racket is
estimated to be in the neighborhood of 9,000,000,000 per year. In the past ten years
it is said to have amounted to $90,000,000,000.00. In my opinion it has amounted to
several times that much. coupled to this you have to the extent of billions of
dollars, the gambling in the United States securities, which takes place in the same
open discount market- a gambling on which the Fed is now spending $100,000,000.00 per
week.
"Fed Notes are taken from the U.S. Government in unlimited quantities. Is is strange
that the burden of supplying these immense sums of money to the gambling fraternity
has at last proved too heavy for the American people to endure? Would it not be a
national [calamity to] again bind down this burden on the backs of the American people
and by means of a long rawhide whip of the credit masters, compel them to enter
another seventeen years of slavery?
"They are trying to do that now. They are trying to take $100,000,000.00 of the public
credit of the United States every week, in addition to all their other seizures and
they are sending that money to the nefarious open market in a desperate gamble to
reestablish their graft as a going concern.
"They are putting the United States Government in debt to the extent of $100,000,000 a
week, and with the money they are buying our Government securities for themselves and
their foreign principals. Our people are disgusted with the experiences of the Fed.
The Fed is not producing a loaf of bread, a yard of cloth, a bushel of corn, or a pile
of cordwood by its check-kiting operations in the money market.
"Mr. Speaker, on the 13th of January of this year I addressed the House on the subject
of the Reconstruction Finance Corporation. In the course of my remarks I made the
following statement: In 1928 the member banks of the Fed borrowed $60,598,690,000.
from the Fed on their fifteen-day promissory notes. Think of it. Sixty billion dollars
payable on demand in gold in the course of one single year. The actual amount of such
obligations called for six times as much monetary gold as there is in the world. Such
transactions represent a grant in the course of one single years of about $7,000,000
to every member of the Fed.
"Is it any wonder that American labor which ultimately pays the cost of all banking
operations of this Country has at last proved unequal to the task of supplying this
huge total of cash and credit for the benefit of the stock market manipulators and
foreign swindlers? "In 1933 the Fed presented the staggering amount of $60,598,690,000
to its member banks at the expense of the wage earners and tax payers of these United
States. In 1929, the year of the stock market crash, the Fed advanced $58,000,000,000
to member banks.
"In 1930 while the speculating banks were getting out of the stock market at the
expense of the general public, the Fed advanced them $13,022,782,000. This shows that
when the banks were gambling on the public credit of these United States as
represented by the Fed currency they were subsidized to any amount they required by
the Fed. When the swindle began to fall, the bankers knew it in advance and withdrew
from the market. They got out with whole skins- and left the people of these United
States to pay the piper. "My friend from Kansas, Mr. McGugin, has stated that he
thought the Fed lent money on rediscounting. So they do, but they lend comparatively
little that way. The real discounting that they do has been called a mere penny in the
slot business. It is too slow for genuine high flyers. They discourage it. They prefer
to subsidize their favorite banks by making them $60,000,000,000 advances and they
prefer to acquire assistance in the notorious open discount market in New York, where
they can use it to control the price of stocks and bonds on the exchanges.
"For every dollar they advanced on discounts in 1928, they lent $33.00 to their
favorite banks for whom they do a business of several billion dollars income tax on
their profits to these United States.
The John Law Swindle
"This is the John Law swindle over again. The theft of Teapot Dome was trifling
compared to it. What King ever robbed his subject to such an extent as the Fed has
robbed us? Is it any wonder that there have been lately ninety cases of starvation in
one of the New York hospitals? Is there any wonder that the children are being
abandoned?
"The government and the people of these United States have been swindled by swindlers
deluxe to whom the acquisition of American or a parcel of Fed Notes presented no more
difficulty than the drawing up of a worthless acceptance in a Country not subject to
the laws of these United States, by sharpers not subject to the jurisdiction of these
United States, sharpers with strong banking "fence" on this side of the water, a
"fence" acting as a receiver of a worthless paper coming from abroad, endorsing it and
getting the currency out of the Fed for it as quickly as possible exchanging that
currency for gold and in turn transmitting the gold to its foreign confederates.
Ivar Kreuger, the Match King!
"Such were the exploits of Ivar Krueger, Mr. Hoover's friend, and his rotten Wall
Street bakers. Every dollar of the billions Kreuger and his gang drew out of this
Country on acceptances was drawn from the government and the people of the United
States through the Fed. The credit of the United States Government was peddled to him
by the Fed for their own private gain. That is what the Fed has been doing for many
years.
"They have been peddling the credit of this Government and the [signature of this]
Government to the swindlers and speculators of all nations. That is what happens when
a Country forsakes its Constitution and gives its sovereignty over the public currency
to private interests. Give them the flag and they will sell it.
"The nature of Kreuger's organized swindle and the bankrupt condition of Kreuger's
combine was known here last June when Hoover sought to exempt Krueger's loan to
Germany of $125,000,000 from the operation of the Hoover Moratorium. The bankrupt
condition of Krueger's swindle was known her last summer when $30,000,000 was taken
from the American taxpayers by certain bankers in New York for the ostensible purpose
of permitting Krueger to make a loan to Colombia. Colombia never saw that money.
"The nature of Krueger's swindle was known here in January when he visited his friend,
Mr. Hoover, at the White House. It was known here in March before he went to Paris and
committed suicide.
"Mr. Chairman, I think the people of the United States are entitled to know how many
billions of dollars were placed at the disposal of Krueger and his gigantic combine by
the Fed, and to know how much of our Government currency was issued and lost in the
financing of that great swindle in the years during which the Fed took care of
Krueger's requirements.
"A few days ago, the President of the United States with a white face and shaking
hands, went before the Senate of behalf of the moneyed interests and asked the Senate
to levy a tax on the people so that foreigners might know that these United States
would pay its debt to them.
"Most Americans thought it was the other way around. What does these United States owe
foreigners? When and by whom was the debt incurred? It was incurred by the Fed, when
they peddled the signature of the Government to foreigners- for a Price. It is what
the United States Government has to pay to redeem the obligations of the Fed.
Thieves Go Scot Free
"Are you going to let these thieves get off scot free? Is there one law for the looter
who drives up to the door of the United States Treasury in his limousine and another
for the United States Veterans who are sleeping on the floor of a dilapidated house on
the outskirts of Washington?
"The Baltimore and Ohio Railroad is here asking for a large loan from the people, and
the wage earners and the taxpayers of these United States. It is begging for a handout
from the Government. It is standing, cap in hand, at the door of the R.F.C. where all
the jackals have gathered to the feast. It is asking for money that was raised from
the people by taxation and wants this money of the poor for the benefit of Kuhn, Loeb
and Co., the German International Bankers.
"Is there one law for the Baltimore and Ohio Railroad and another for the hungry
veterans it threw off its freight cars the other day? Is there one law for sleek and
prosperous swindlers who call themselves bankers and another law for the soldiers who
defended the flag? "The R.F.C. is taking over these worthless securities from the
Investment Trusts with United States Treasury money at the expense of the American
taxpayer and the wage earner.
"It will take twenty years to redeem our Government. Twenty years of penal servitude
to pay off the gambling debts of the traitorous Fed and to vast flood of American
wages and savings, bank deposits, and the United States Government credit which the
Fed exported out of this country to their foreign principals.
"The Fed lately conducted an anti-hoarding campaign here. They they took that extra
money which they had persuaded the American people to put into the banks- they sent it
to Europe- along with the rest. In the last several months, they have sent
$1,300,000,000 in gold to their foreign employers, their foreign masters, and every
dollar of that gold belonged to the people of these United States and was unlawfully
taken from them.
Fiat Money
"Mr. Chairman, within the limits of the time allowed me, I cannot enter into a
particularized discussion of the Fed. I have singled out the Fed currency for a few
remarks because there has lately been some talk here of "fiat money". What kind of
money is being pumped into the open discount market and through it into foreign
channels and stock exchanges? Mr. Mills of the Treasury has spoken here of his horror
of the printing presses and his horror of dishonest money. He has no horror of
dishonest money. If he had, he would be no party to the present gambling of the Fed in
the nefarious open discount market of New York, a market in which the sellers are
represented by 10 discount corporations owned and organized by the very banks which
own and control the Fed.
"Fiat money, indeed!
"What Mr. Mills is fighting for is the preservation, whole and entire, of the banker's
monopoly of all the currency of the United States Government.
"Mr. Chairman, last December, I introduced a resolution here asking for an examination
and an audit of the Fed and all related matters. If the House sees fit to make such an
investigation, the people of these United States will obtain information of great
value. This is a Government of the people, by the people, for the people.
Consequently, nothing should be concealed from the people. The man who deceives the
people is a traitor to these United States.
"The man who knows or suspects that a crime has been committed and who conceals and
covers up that crime is an accessory to it. Mr. Speaker, it is a monstrous thing for
this great nation of people to have its destinies presided over by a traitorous
government board acting in secret concert with international usurers.
"Every effort has been made by the Fed to conceal its powers- but the truth is- the
Fed has usurped the Government. It controls everything here and it controls all of our
foreign relations. It makes and breaks governments at will.
"No man and no body of men is more entrenched in power than the arrogant credit
monopoly which operated the Fed. What National Government has permitted the Fed to
steal from the people should now be restored to the people. The people have a valid
claim against the Fed. If that claim is enforced the Americans will not need to stand
in the bread line, or to suffer and die of starvation in the streets. Women will be
saved, families will be kept together, and American children will not be dispersed and
abandoned.
"Here is a Fed Note. Immense numbers of the notes are now held abroad. I am told that
they amount to upwards of a billion dollars. They constitute a claim against our
Government and likewise a claim against our peoples' money to the extent of
$1,300,000,000 which has within the last few months been shipped abroad to redeem Fed
Notes and to pay other gambling debts of the traitorous Fed. The greater part of our
money stock has been shipped to other lands.
"Why should we promise to pay the debts of foreigners to foreigners? Why should the
Fed be permitted to finance our competitors in all parts of the world? Do you know why
the tariff was raised? It was raised to shut out the flood of Fed Goods pouring in
here from every quarter of the globe- cheap goods, produced by cheaply paid foreign
labor, on unlimited supplies of money and credit sent out of this Country by the
dishonest and unscrupulous Fed.
"The Fed are spending $100,000,000 a week buying government securities in the open
market and are making a great bid for foreign business. They are trying to make rates
so attractive that the human hair merchants and the distillers and other business
entities in foreign land will come her and hire more of the public credit of the
United States Government to pay the Fed outfit for getting it for them.
World Enslavement Planned
"Mr. Chairman, when the Fed was passed, the people of these United States did not
perceive that a world system was being set up here which would make the savings of the
American school teacher available to a narcotic-drug vendor in Acapulco. They did not
perceive that these United States was to be lowered to the position of a coolie
country which has nothing but raw material and heart, that Russia was destined to
supply the man power and that this country was to supply the financial power to an
"international superstate". A superstate controlled by international bankers, and
international industrialists acting together to enslave the world for their own
pleasure?
"The people of these United States are being greatly wronged. They have been driven
from their employments. They have been dispossessed from their homes. They have been
evicted from their rented quarters. They have lost their children. They have been left
to suffer and die for lack of shelter, food, clothing and medicine.
"The wealth of these United States and the working capital have been taken away from
them and has either been locked in the vaults of certain banks and the great
corporations or exported to foreign countries for the benefit of the foreign customers
of these banks and corporations. So far as the people of the United States are
concerned, the cupboard is bare.
"It is true that the warehouses and coal yards and grain elevators are full, but these
are padlocked, and the great banks and corporations hold the keys.
"The sack of these United States by the Fed is the greatest crime in history.
"Mr. Chairman, a serious situation confronts the House of Representatives today. We
are trustees of the people and the rights of the people are being taken away from
them. Through the Fed the people are losing the rights guaranteed to them by the
Constitution. Their property has been taken from them without due process of law. Mr.
Chairman, common decency requires us to examine the public accounts of the Government
and see what crimes against the public welfare have been committed.
"What is needed here is a return to the Constitution of these United States.
"The old struggle that was fought out here in Jackson's time must be fought our over
again. The independent United States Treasury should be reestablished and the
Government should keep its own money under lock and key in the building the people
provided for that purpose.
"Asset currency, the devise of the swindler, should be done away with. The Fed should
be abolished and the State boundaries should be respected. Bank reserves should be
kept within the boundaries of the States whose people own them, and this reserve money
of the people should be protected so that the International Bankers and acceptance
bankers and discount dealers cannot draw it away from them.
"The Fed should be repealed, and the Fed Banks, having violated their charters, should
be liquidated immediately. Faithless Government officials who have violated their
oaths of office should be impeached and brought to trial.
"Unless this is done by us, I predict, that the American people, outraged, pillaged,
insulted and betrayed as they are in their own land, will rise in their wrath, and
will sweep the money changers out of the temple.
"Mr. Chairman, the United States is bankrupt: It has been bankrupted by the corrupt
and dishonest Fed. It has repudiated its debts to its own citizens. Its chief foreign
creditor is Great Britain, and a British bailiff has been at the White House and the
British Agents are in the United States Treasury making inventory arranging terms of
liquidations!
Great Britain, Partner in Blackmail
"Mr. Chairman, the Fed has offered to collect the British claims in full from the
American public by trickery and corruption, if Great Britain will help to conceal its
crimes. The British are shielding their agents, the Fed, because they do not wish that
system of robbery to be destroyed here. They wish it to continue for their benefit! By
means of it, Great Britain has become the financial mistress of the world. She has
regained the position she occupied before the World War.
"For several years she has been a silent partner in the business of the Fed. Under
threat of blackmail, or by their bribery, or by their native treachery to the people
of the United States, the officials in charge of the Fed unwisely gave Great Britain
immense gold loans running into hundreds of millions of dollars. They did this against
the law! Those gold loans were not single transactions. They gave Great Britain a
borrowing power in the United States of billions. She squeezed billions out of this
Country by means of her control of the Fed.
"As soon as the Hoover Moratorium was announced, Great Britain moved to consolidate
her gains. After the treacherous signing away of American rights at the 7-power
conference at London in July, 1931, which put the Fed under the control of the Bank of
International Settlements, Great Britain began to tighten the hangman's noose around
the neck of the United States.
"She abandoned the gold standard and embarked on a campaign of buying up the claims of
foreigners against the Fed in all parts of the world. She has now sent her bailiff,
Ramsey MacDonald, here to get her war debt to this country canceled. But she has a
club in her hands! She has title to the gambling debts which the corrupt and dishonest
Fed incurred abroad.
"Ramsey MacDonald, the labor party deserter, has come here to compel the President to
sign on the dotted line, and that is what Roosevelt is about to do! Roosevelt will
endeavor to conceal the nature of his action from the American people. But he will
obey the International Bankers and transfer the war debt that Great Britain should pay
to the American people, to the shoulders of the American taxpayers.
"Mr. Chairman, the bank holiday in the several States was brought about by the corrupt
and dishonest Fed. These institutions manipulated money and credit, and caused the
States to order bank holidays.
"These holidays were frame-ups! "They were dress rehearsals for the national bank
holiday which Franklin D. Roosevelt promised Sir Ramsey MacDonald that he would
declare.
"There was no national emergency here when Franklin D. Roosevelt took office excepting
the bankruptcy of the Fed- a bankruptcy which has been going on under cover for
several years and which has been concealed from the people so that the people would
continue to permit their bank deposits and their bank reserves and their gold and the
funds of the United States Treasury to be impounded in these bankrupt institutions.
"Under cover, the predatory International Bankers have been stealthily transferring
the burden of the Fed debts to the people's Treasury and to the people themselves.
They the farms and the homes of the United States to pay for their thievery! That is
the only national emergency that there has been here since the depression began.
"The week before the bank holiday ws declared in New York State, the deposits in the
New York savings banks were greater than the withdrawals. There were no runs on New
York Banks. There was no need of a bank holiday in New York, or of a national holiday.
Roosevelt and the International Bankers
"Roosevelt did what the International Bankers ordered him to do!
"Do not deceive yourself, Mr. Chairman, or permit yourself to be deceived by others
into the belief that Roosevelt's dictatorship is in any way intended to benefit the
people of the United States: he is preparing to sign on the dotted line! "He is
preparing to cancel the war debts by fraud!
"He is preparing to internationalize this Country and to destroy our Constitution
itself in order to keep the Fed intact as a money institution for foreigners. "Mr.
Chairman, I see no reason why citizens of the United States should be terrorized into
surrendering their property to the International Bankers who own and control the Fed.
The statement that gold would be taken from its lawful owners if they did not
voluntarily surrender it, to private interests, show that there is an anarchist in our
Government.
"The statement that it is necessary for the people to give their gold- the only real
money- to the banks in order to protect the currency, is a statement of calculated
dishonesty!
"By his unlawful usurpation of power on the night of March 5, 1933, and by his
proclamation, which in my opinion was in violation of the Constitution of the United
States, Roosevelt divorced the currency of the United States from gold, and the United
States currency is no longer protected by gold. It is therefore sheer dishonesty to
say that the people's gold is needed to protect the currency.
"Roosevelt ordered the people to give their gold to private interests- that is, to
banks, and he took control of the banks so that all the gold and gold values in them,
or given into them, might be handed over to the predatory International Bankers who
own and control the Fed.
"Roosevelt cast his lot with the usurers. "He agreed to save the corrupt and dishonest
at the expense of the people of the United States.
"He took advantage of the people's confusion and weariness and spread the dragnet over
the United States to capture everything of value that was left in it. He made a great
haul for the International Bankers.
"The Prime Minister of England came here for money! He came here to collect cash!
"He came here with Fed Currency and other claims against the Fed which England had
bought up in all parts of the world. And he has presented them for redemption in gold.
"Mr. Chairman, I am in favor of compelling the Fed to pay their own debts. I see no
reason why the general public should be forced to pay the gambling debts of the
International Bankers.
Roosevelt Seizes the Gold
"By his action in closing the banks of the United States, Roosevelt seized the gold
value of forty billions or more of bank deposits in the United States banks. Those
deposits were deposits of gold values. By his action he has rendered them payable to
the depositors in paper only, if payable at all, and the paper money he proposes to
pay out to bank depositors and to the people generally in lieu of their hard earned
gold values in itself, and being based on nothing into which the people can convert it
the said paper money is of negligible value altogether.
"It is the money of slaves, not of free men. If the people of the United States permit
it to be imposed upon them at the will of their credit masters, the next step in their
downward progress will be their acceptance of orders on company stores for what they
eat and wear. Their case will be similar to that of starving coal miners. They, too,
will be paid with orders on Company stores for food and clothing, both of indifferent
quality and be forced to live in Company-owned houses from which they may be evicted
at the drop of a hat. More of them will be forced into conscript labor camps under
supervision.
"At noon on the 4th of March, 1933, FDR with his hand on the Bible, took an oath to
preserve, protect and defend the Constitution of the U.S. At midnight on the 5th of
March, 1933, he confiscated the property of American citizens. He took the currency of
the United States standard of value. He repudiated the internal debt of the Government
to its own citizens. He destroyed the value of the American dollar. He released, or
endeavored to release, the Fed from their contractual liability to redeem Fed currency
in gold or lawful money on a parity with gold. He depreciated the value of the
national currency.
"The people of the U.S. are now using unredeemable paper slips for money. The Treasury
cannot redeem that paper in gold or silver. The gold and silver of the Treasury has
unlawfully been given to the corrupt and dishonest Fed. And the Administration has
since had the effrontery to raid the country for more gold for the private interests
by telling our patriotic citizens that their gold is needed to protect the currency.
"It is not being used to protect the currency! It is being used to protect the corrupt
and dishonest Fed. "The directors of these institutions have committed criminal
offense against the United States Government, including the offense of making false
entries on their books, and the still more serious offense of unlawfully abstracting
funds from the United States Treasury! "Roosevelt's gold raid is intended to help them
out of the pit they dug for themselves when they gambled away the wealth and savings
of the American people.
Dictatorship
"The International Bankers set up a dictatorship here because they wanted a dictator
who would protect them. They wanted a dictator who would protect them. They wanted a
dictator who would issue a proclamation giving the Fed an absolute and unconditional
release from their special currency in gold, or lawful money of any Fed Bank.
"Has Roosevelt relieved any other class of debtors in this country from the necessity
of paying their debts? Has he made a proclamation telling the farmers that they need
not pay their mortgages? Has he made a proclamation to the effect that mothers of
starving children need not pay their milk bills? Has he made a proclamation relieving
householders from the necessity of paying rent?
Roosevelt's Two Kinds of Laws
"Not he! He has issued one kind of proclamation only, and that is a proclamation to
relieve international bankers and the foreign debtors of the United States Government.
"Mr. Chairman, the gold in the banks of this country belongs to the American people
who have paper money contracts for it in the form of national currency. If the Fed
cannot keep their contracts with United States citizens to redeem their paper money in
gold, or lawful money, then the Fed must be taken over by the United States Government
and their officers must be put on trial.
"There must be a day of reckoning. If the Fed have looted the Treasury so that the
Treasury cannot redeem the United States currency for which it is liable in gold, then
the Fed must be driven out of the Treasury.
"Mr. Chairman, a gold certificate is a warehouse receipt for gold in the Treasury, and
the man who has a gold certificate is the actual owner of a corresponding amount of
gold stacked in the Treasury subject to his order.
"Now comes Roosevelt who seeks to render the money of the United States worthless by
unlawfully declaring that it may No Longer be converted into gold at the will of the
holder.
"Roosevelt's next haul for the International Bankers was the reduction in the pay of
all Federal employees.
"Next in order are the veterans of all wars, many of whom are aged and inform, and
other sick and disabled. These men had their lives adjusted for them by acts of
Congress determining the amounts of the pensions, and, while it is meant that every
citizen should sacrifice himself for the good of the United States, I see no reason
why those poor people, these aged Civil War Veterans and war widows and half-starved
veterans of the World War, should be compelled to give up their pensions for the
financial benefit of the International vultures who have looted the Treasury,
bankrupted the country and traitorously delivered the United States to a foreign foe.
"There are many ways of raising revenue that are better than that barbaric act of
injustice.
"Why not collect from the Fed the amount they owe the U.S. Treasury in interest on all
the Fed currency they have taken from the Government? That would put billions of
dollars into the U.S. Treasury.
"If FDR is as honest as he pretends to be, he will have that done immediately. And in
addition, why not compel the Fed to disclose their profits and to pay the Government
its share?
"Until this is done, it is rank dishonesty to talk of maintaining the credit of the
U.S. Government. "My own salary as a member of Congress has been reduced, and while I
am willing to give my part of it that has been taken away from me to the U.S.
Government, I regret that the U.S. has suffered itself to be brought so low by the
vultures and crooks who are operating the roulette wheels and faro tables in the Fed,
that is now obliged to throw itself on the mercy of its legislators and charwomen, its
clerks, and it poor pensioners and to take money out of our pockets to make good the
defalcations of the International Bankers who were placed in control of the Treasury
and given the monopoly of U.S. Currency by the misbegotten Fed. "I am well aware that
the International Bankers who drive up to the door of the United States Treasury in
their limousines, look down with scorn upon members of Congress because we work for so
little, while they draw millions a year. The difference is that we earn, or try to
earn, what we get- and they steal the greater part of their takings.
Enemies of the People They Rob
"I do not like to see vivisections performed on human beings. I do not like to see the
American people used for experimental purposes by the credit masters of the United
States. They predicted among themselves that they would be able to produce a condition
here in which American citizens would be completely humbled and left starving and
penniless in the streets.
"The fact that they made that assertion while they were fomenting their conspiracy
against the United States that they like to see a human being, especially an American,
stumbling from hunger when he walks. "Something should be done about it, they say.
Five-cent meals, or something! "But FDR will not permit the House of Representatives
to investigate the condition of the Fed. FDR will not do that. He has certain
International Bankers to serve. They not look to him as the man Higher Up who will
protect them from the just wrath of an outraged people.
"The International Bankers have always hated our pensioners. A man with a small
pension is a ward of the Government. He is not dependent upon them for a salary or
wages. They cannot control him. They do not like him. It gave them great pleasure,
therefore, to slash the veterans.
"But FDR will never do anything to embarrass his financial supporters. He will cover
up the crimes of the Fed.
"Before he was elected, Mr. Roosevelt advocated a return to the earlier practices of
the Fed, thus admitting its corruptness. The Democratic platform advocated a change in
the personnel of the Fed. These were campaign bait. As a prominent Democrat lately
remarked to me; "There is no new deal. The same old crowd is in control."
"The claims of foreign creditors of the Fed have no validity in law. The foreign
creditors were the receivers- and the willing receivers- of stolen goods! They have
received through their banking fences immense amounts of currency, and that currency
was unlawfully taken from the United States Treasury by the Fed.
"England discovered the irregularities of the Fed quite early in its operations and
through fear, apparently, the Fed have for years suffered themselves to be blackmailed
and dragooning England to share in the business of the Fed. "The Fed have unlawfully
taken many millions of dollars of the public credit of the United States and have
given it to foreign sellers on the security of the Debt paper of foreign buyers in
purely foreign transactions, and when the foreign buyers refused to meet their
obligations and the Fed saw no honest way of getting the stolen goods back into their
possession, they decided by control of the executive to make the American people pay
their losses!
Conspiracy of War Debts
"They likewise entered into a conspiracy to deprive the people of the U.S. of their
title to the war debts and not being able to do that in the way they intended, they
are now engaged in an effort to debase the American dollar so that foreign governments
will have their debts to this country cut in two, and then by means of other vicious
underhanded arrangements, they propose to remit the remainder.
"So far as the U.S. is concerned, the gambling counters have no legal standing. The
U.S. Treasury cannot be compelled to make good the gambling ventures of the corrupt
and dishonest Fed. Still less should the bank deposits of the U.S. be used for that
purpose. Still less should the national currency have been made irredeemable in gold
so that the gold which was massed and stored to redeem the currency for American
citizens may be used to pay the gambling debts of the Fed for England's benefit. "The
American people should have their gold in their own possession where it cannot be held
under secret agreement for any foreign control bank, or world bank, or foreign nation.
Our own citizens have the prior claim to it. The paper [money men] have in their
possession deserves redemption far more than U.S. currency and credit which was stolen
from the U.S. Treasury and bootlegged abroad.
"Why should the foreigners be made preferred creditors of the bankrupt U.S.? Why
should the U.S. be treated as bankrupt at all? This Government has immense sums due it
from the Fed. The directors of these institutions are men of great wealth. Why should
the guilty escape the consequences of their misdeeds? Why should the people of these
U.S. surrender the value of their gold bank deposits to pay off the gambling debts of
these bankers? Why should Roosevelt promise foreigners that the U.S. will play the
part of a good neighbor, 'meeting its obligations'?
"Let the Fed meet their own obligations.
"Every member of the Fed should be compelled to disgorge, and every acceptance banker
and every discount corporation which has made illegal profits by means of public
credit unlawfully bootlegged out of the U.S. Treasury and hired out by the crooks and
vultures of the Fed should be compelled to disgorge.
Federal Reserve Pays No Taxes
"Gambling debts due to foreign receivers of stolen goods should not be paid by
sacrificing our title to our war debts, the assets of the U.S. Treasury- which belong
to all the people of the U.S. and which it is our duty to preserve inviolate in the
people's treasury.
"The U.S. Treasury cannot be made liable for them. The Fed currency must be redeemed
by the Fed banks or else these Fed banks must be liquidated.
"We know from assertions made here by the Hon. John N. Garner, Vice-President of the
U.S. that there is a condition in the [United States such] would cause American
citizens, if they knew what it was, to lose all confidence in their government.
"That is a condition that Roosevelt will not have investigated. He has brought with
him from Wall Street, James Warburg, the son of Paul M. Warburg. Mr. Warburg, alien
born, and the son of an alien who did not become naturalized here until several years
after this Warburg's birth, is a son of a former partner of Kuhn, Loeb and Co., a
grandson of another partner, a nephew of a former partner, and a nephew of a present
partner.
"He holds no office in our Government, but I am told that he is in daily attendance at
the Treasury, and that he has private quarters there! In other words, Mr. Chairman,
Kuhn, Loeb and Company now has control and occupy the U.S. Treasury.
Preferred Treatment for Foreigners
"The text of the Executive order which seems to place an embargo on shipments of gold
permits the Secretary of the Treasury, a former director of the corrupt, to issue
licenses at his discretion for the export of gold coin, or bullion, earmarked or held
in trust for a recognized foreign government or foreign central bank for international
settlement. Now, Mr. Chairman, if gold held in trust for those foreign institutions
may be sent to them, I see no reason why gold held in trust for American as evidenced
by their gold certificates and other currency issued by the U.S. Government should not
be paid to them. "I think that American citizens should be entitled to treatment at
least as good as that which the person is extending to foreign governments, foreign
central banks, and the bank of International Settlements. I think a veteran of the
world war, with a $20.00 gold certificate, is at least as much entitled to receive his
own gold for it, as any international banker in the city of New York or London.
"By the terms of this executive order, gold may be exported if it is actually
required, for the fulfillment of any contract entered into prior to the date of this
order by an applicant who, in obedience to the executive order of April 5, 1933, has
delivered gold coin, gold bullion, or gold certificates. "This means that gold may be
exported to pay the obligations abroad of the Fed which were incurred prior to the
date of the order, namely, April 20, 1933.
"If a European Bank should send 100,000,000 dollars in Fed currency to a bank in this
country for redemption, that bank could easily ship gold to Europe in exchange for
that currency. Such Fed currency would represent "contracts" entered into prior to the
date of the order. If the Bank of International Settlements or any other foreign bank
holding any of the present gambling debt paper of the Fed should draw a draft for the
settlement of such obligation, gold would be shopped to them because the debt contract
would have been entered into prior to the date of order.
--------------------------------------------------------------------------------
Crimes and Criminals
"Mr. Speaker, I rise to a question of constitutional privilege.
"Whereas, I charge. . .Eugene Meyer, Roy A. Young, Edmund Platt, Eugene B. Black,
Adolph Casper Miller, Charles S. Hamlin, George R. James, Andrew W. Mellon, Ogden L.
Mills, William H. Woo W. Poole, J.F.T. O'Connor, members of the Federal Reserve Board;
F. H. Curtis, J.H. Chane, R.L. Austin, George De Camp, L.B. Williams, W.W. Hoxton,
Oscar Newton, E.M. Stevens, J.S. Wood, J.N. Payton, M.L. McClure, C.C. Walsh, Isaac B.
Newton, Federal Reserve Agents, jointly and severally, with violations of the
Constitution and laws of the United States, and whereas I charge them with having
taken funds from the U.S Treasury which were not appropriated by the Congress of the
United States, and I charge them with having unlawfully taken over $80,000,000,000
from the U.S. Government in the year 1928, the said unlawful taking consisting of the
unlawful creation of claims against the U.S. Treasury to the extent of over
$80,000,000,000 in the year 1928; and I charge them with similar thefts committed in
1929, 1930, 1931, 1932 and 1933, and in years previous to 1928, amounting to billions
of dollars; and
"Whereas I charge them, jointly and severally with having unlawfully created claims
against the U.S. Treasury by unlawfully placing U.S. Government credit in specific
amounts to the credit of foreign governments and foreign central banks of issue;
private interests and commercial and private banks of the U.S. and foreign countries,
and branches of foreign banks doing business in the U.S., to the extent of billions of
dollars; and with having made unlawful contracts in the name of the U.S. Government
and the U.S. Treasury; and with having made false entries on books of account; and
"Whereas I charge them jointly and severally, with having taken Fed Notes from the
U.S. Treasury and with having put Fed Notes into circulation without obeying the
mandatory provision of the Fed Act which requires the Fed Board to fix an interest
rate on all issues of Fed Notes supplied to Fed Banks, the interest resulting
therefrom to be paid by the Fed Banks to the government of the U.S. for the use of the
Fed Notes, and I charge them of having defrauded the U.S. Government and the people of
the U.S. of billions of dollars by the commission of this crime, and
"Whereas I charge them, jointly and severally, with having purchased U.S. Government
securities with U.S. Government credit unlawfully taken and with having sold the said
U.S. Government securities back to the people of the U.S. for gold or gold values and
with havin
Bard
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