LOUIS T. McFADDEN & OUR FINANCIAL SLAVERY
CONGRESSIONAL RECORD, Seventy-third Congress, Second Session
Franklin D. Roosevelt, the Apostle of Irredeemable Paper Money
SPEECH OF LOUIS T. McFADDEN of Pennsylvania
In the House of Representatives Wednesday, January 24, 1934.
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 un-coined 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, according to the fashion set by the present administration. The first thing that meets my eye is the title.
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 contrary, 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 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 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 of 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 super-state, that financial super-state, 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 by 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. Seligman, 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 the 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 moneychangers 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. If 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 moneychangers 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 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 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:
"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 treat 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.
"IT SHOULD HAVE BEEN THE FIRST STEP IN THE RECOVERY PROGRAM.
"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 would against issuing their own good money in sufficient quantities to carry on their necessary commerce.
"By this simple, 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 form 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 un-contractible 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 ofpassing 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?
After this Country was forced into bankruptcy (financial slavery), war was declared on the American people. This Country has been destroyed from within first by taking over its finances and then the taking over and possession of the United States government. The Presidency was taken over when President Franklin Roosevelt was elected. Through him the banks were able to declare war on the American people and enslave them through the social programs that were enacted by Congress. Congress went along to get along, the majority of these men were lawyers and they sold out the American people.
Because voting is a privilege and not a right and proves your membership in the metaphorical term, United States Corporation; Congress had the legal right, but not the moral right to enact legislation that made every American that voted for that Congress a "alien enemy", which is a legal term. Which simply means that you have been declared an enemy of the United States and the Bankers, because the citizens of 1933 voted in the government officials that took this action and because of association they were responsible. However, according to the law the children of these Americans (alien enemies) have the right to remain alien enemies or could elect to no longer be an alien enemy. To remain an alien enemy means to continue receiving benefits given by the government, to see what these benefits are, re-read A Country Defeated In Victory, part 1. To discontinue being a alien enemy means to stop taking the government's benefits. Now, will this rejection of benefits stop the government from forcing you to be a slave? This is doubtful, because the men that created the conditions of your slavery still wish you to be a slave. Their purpose is to establish a one world government. These men and those that replaced them are still in power and control every aspect of your life. They will not give up a slave just because the slave no longer wishes to be a slave. So what is the purpose of resisting your enslavement? Should we do as Congress did and go along to get along? Let me ask you this; did our anti-federalist fore fathers give in for financial comfort? No! If you believe in God Almighty and have received the redemptive blood of Jesus Christ His Son, and you also believe that the Bible is the living Word of God Almighty.
You also must know that it is not possible to serve to Masters.
Either you serve God Almighty or man. Jesus said in Revelation 20:4: "....Those who had not worshiped the beast or his image, and had not received the mark upon their forehead and upon their hand; and they came to life and reigned with Christ for a thousand years." The reward for rejecting Babylon and the mark of the beast is to reign with Jesus Christ for 1000 years. So, if you choose to be an alien enemy be aware that there are consequences to your actions. The legal term "alien enemies" is defined in the following pages.
The following is a quote from Congressman James Beck:
"I think of all the damnable heresies that have ever been suggested in connection with the Constitution, the doctrine of emergency is the worst. It means that when Congress declares an emergency there is no Constitution. This means its death....But the Constitution of the United States, as a restraining influence in keeping the federal government within the carefully prescribed channels of power, is moribund, if not dead. We are witnessing its death agonies, for when this bill becomes a law, if unhappily it becomes law, there is no longer any workable Constitution to keep the Congress within the limits of its constitutional powers." (Congressman James Beck in Congressional Record 1933)
End of McFadden's comments.