The information therein is borrowed from Gertrude Coogan’s book “Money Creators” published in the U.S. in 1935.
In the previous article, we drew a sketch of the hold exercised by international finance upon the civilization of two continents, in the last two hundred and fifty years. We pointed out Lincoln’s remarkable part in liberating America from a yoke whose horror he fully understood. At no other time in the past did the internationalists find their monopoly so directly threatened. Several contemporary documents inform us of their activities as well as of the thoughts that animated them.
It is a known fact that Lincoln issued money at three different occasions without going through the banks and without signing any debentures (bonds) for a total of $450 millions. These were the greenbacks of which some $346 millions remained in circulation some 15 years later after much litigation. This was the first time the United States Government ever executed the mandate given it by the Constitution: to coin money and regulate its value, thus removing the burden imposed by the internationalists since the beginning of the Republic.
This could be duplicated by other countries and signify the end of their dominion by private profiteers. The intervention therefore came rapidly. The American Bankers Association sent a circular letter to all their members that read:
“Dear Sir: It is advisable to do all in your power to sustain such prominent daily and weekly newspapers... as will oppose the greenback issue of paper money and that you will also withhold patronage from all applicants who are not willing to oppose the government issue of money.”
The United States was in the midst of Civil War, the Secession War (1861-1865). The people’s sufferings in no way touched the internationalists who had decided three years earlier that a war must be fomented to weaken the United States so as to better establish their monopolies. Their greatest set-back was that during this very war the leader of the country they wished to dominate dared to oppose their financial power. To Lincoln’s bravery and honesty they would have to oppose a campaign of influence upon the leaders of American financial circles and upon the President’s close circle.
The infamous Hazard circular signed in 1862 by a group of the London-based internationalists, favored the abolition of slavery only to replace it by a more subtle form of slavery. It was only fitting that a circular in favor of abolitionism came from a London group since the internationalists had decided that the London group would support the North financially, while the group from Paris would give their financial support to the South. The war must last long enough to weaken the American Nation and to shackle it.
The Hazard circular was thus sent to all American bankers, as well as to all senators and members of Congress: “Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are in favor of, for slavery is but the owning of labor and carries with it the care of the laborers, while the European plan, led by England, is that capital (money lenders) shall control labor by controlling wages.” (Banishing purchasing power at will and making the laborers victims of unemployment.)
“This can be done by controlling the money. The great debt that capitalists will see to it is made out of the war, must be used as a measure to control the volume of money. To accomplish this the bonds must be used as a banking basis. We are now waiting to get the Secretary of the Treasury to make this recommendation to Congress.
“It will not do to allow the ‘greenback,’ as it is called, to circulate as money, any length of time, for we cannot control them. But we can control the bonds, and through them the bank issue.”
Ten years later, America saw chattel slavery replaced by financial dictatorship, and Horace Greeley could write in 1872: “We have strucken the shackles from four million human beings and brought all laborers to a common level, not so much by the elevation of the former slaves as by practically reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by our iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery.”
 All the continents in the world — and not only Africa — have become the prey of the financiers |
A contemporary statesman, chancellor Bismark of Germany, had both the position and knowledge to understand better than most what was taking place. His revelation to a German, Conrad Siem, in 1876, sheds a different light upon the series of events we have just mentioned:
“The division of the United States into federations of equal force was decided long before the Civil War by the financial powers of Europe. These bankers were afraid that the United States, if they remained in one block and as one nation, would attain economic and financial independence, which would upset their financial domination over the world. The voice of the Rothschilds predominated. They foresaw tremendous booty if they could substitute two feeble democracies, indebted to the financiers, for the vigorous Republic, which was practically self providing.
“Therefore, they sent their emissaries in order to exploit the question of slavery and thus to dig an abyss between the two parts of the Republic. Lincoln never suspected these underground machinations. He was against slavery, and he was elected as such. His character prevented him from being the man of one party. When he had affairs in his hands, he perceived that these sinister financiers of Europe wished to make him the executor of their designs. They made the rupture between the North and the South imminent. The masters of finance in Europe made the rupture to exploit. Lincoln’s personality surprised them. His candidacy had not troubled them; they thought to easily dupe the woodcutter. But Lincoln read their plots and understood that the South was not the worst foe, but the financiers.”
t isA contemporary statesman, chancellor Bismark of Germany, had both the position and knowledge to understand better than most what was taking place. His revelation to a German, Conrad Siem, in 1876, sheds a different light upon the series of events we have just mentioned:
“The division of the United States into federations of equal force was decided long before the Civil War by the financial powers of Europe. These bankers were afraid that the United States, if they remained in one block and as one nation, would attain economic and financial independence, which would upset their financial domination over the world. The voice of the Rothschilds predominated. They foresaw tremendous booty if they could substitute two feeble democracies, indebted to the financiers, for the vigorous Republic, which was practically self providing.
“Therefore, they sent their emissaries in order to exploit the question of slavery and thus to dig an abyss between the two parts of the Republic. Lincoln never suspected these underground machinations. He was against slavery, and he was elected as such. His character prevented him from being the man of one party. When he had affairs in his hands, he perceived that these sinister financiers of Europe wished to make him the executor of their designs. They made the rupture between the North and the South imminent. The masters of finance in Europe made the rupture to exploit. Lincoln’s personality surprised them. His candidacy had not troubled them; they thought to easily dupe the woodcutter. But Lincoln read their plots and understood that the South was not the worst foe, but the financiers.”
Bismarck mentions the Rothschilds. This powerful family has largely contributed to the establishment of a worldwide monetary system based on a slave minded philosophy imposed on all mankind. Decorated with titles nowadays, they operate more quietly but no less efficiently with other associates.
In these former days, they were first in line to put a grab on an America they had neither discovered nor developed. The documents that follow are revealing of the mentality of the masters of money; they also show how wrong we are to be dozing off while the wolves are roaming, or to let ourselves be hypnotized by the champions of “sound money”. Where were the leaders of the time? Why did Lincoln have to fight alone, misunderstood, not sustained even by his own Congress? And where are the leaders of the people oday, while the physical health, the intellectual values, the character and lives of our children, of our young people, of our women and of our men are being offered in sacrifice to the artificial scarcity of money?
The following letter, from the Rothschild Brothers of London, was addressed to an international banking firm in New York:
London, June 25th, 1863
Messrs. Ikleheimer, Morton and Vandergould,
No. 3 Wall St., New York, U.S.A.
Dear Sir:
A Mr. John Sherman has written us from a town in Ohio, U.S.A., as to the profits that may be made in the National Banking business under a recent act of your Congress, a copy of which act accompanied his letter.
Apparently this act has been drawn upon the plan formulated here last summer by the British Bankers Association and by that Association recommended to our American friends as one that if enacted into law, would prove highly profitable to the banking fraternity throughout the world.
Mr. Sherman declares that there has never been such an opportunity for capitalists to accumulate money, as that presented by this act, and that the old plan of State Banks is so unpopular, that the new scheme will, by contrast, be most favorably regarded, notwithstanding the fact that it gives the National Banks an almost absolute control of the National finance. “The few who can understand the system, he says, will either be so interested in its profits, or so dependent of its favors that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantages that capital derives from the system, will bear its burden without complaint and perhaps without even suspecting that the system is inimical to their interests.”
Please advise us fully as to this matter and also state whether or not you will be of assistance to us, if we conclude to establish a National Bank in the City of New York. If you are acquainted with Mr. Sherman (he appears to have introduced the Banking Act) we will be glad to know something of him. If we avail ourselves of the information he furnished, we will, of course, make due compensation.
Awaiting your reply, we are
Your respectful servants
Rothschild Brothers.
We beg our readers to meditate attentively on this document. One will see at least: that the American Banking Law of 1862 was written in accordance with a plan designed in London; that this law was prepared for the greater profit of the world’s banking fraternity (plague to the American people); that an American public figure, member of Congress, an aspirant to the highest representative function of its citizens, was dealing with the Rothschilds of London for the profit of bankers; that this same public figure, i.e. Sherman, subdivided the American people into three categories, all of whom could easily be maintained on their knees: those who were invested, those who sought the bankers’ favors and the unknowing multitudes. The latter bear all without complaining, unsuspecting of their being sacrificed Of course, an individual like Sherman is a man to be encouraged and rewarded (only in a satanic world).
Here is the reply from the New York banking firm to the Rothschild Brothers of London:
New York City, July 6, 1863.
Messrs. Rothschild Brothers
London, England
Dear Sirs:
We beg to acknowledge the receipt of your letter of June 25th, in which you refer to a communication received from the Hon. John Sherman of Ohio, with reference to the advantages and profits of an American investment under the provisions of our National Banking Act.
The fact that Mr. Sherman speaks well of such an investment or of any similar one, is certainly not without weight, for that gentleman possesses in a marked degree, the distinguishing characteristics of the successful financier. His temperament is such that whatever his feelings may be they never cause him to lose sight of the main chance. He is young, shrewd, and ambitious. He has fixed his eyes upon the Presidency of the United States and is already a member of Congress. He rightfully thinks he has everything to gain both politically and financially (he has financial ambitions, too) by being friendly with men and institutions having large financial resources, and which at times, are not too particular in their methods, either of obtaining government aid, or of protecting themselves against unfriendly legislation. We trust him here implicitly. His intellect and ambition combine to make him exceedingly valuable to us, indeed, we predict that if his life is spared, he will prove to be the best friend the moneyed interests of the world have ever had in America.
As to the organization of a National Bank here, and the nature and profits of such an investment, we beg leave to refer to our printed circular enclosed herein. Inquiries by European Capitalists, concerning this matter, have been so numerous, that for convenience, we have had our views with regard to it put into printed form.
Should you determine to organize a bank in the City, we shall be glad to aid you. We can easily find financial friends to make satisfactory directory, and to fill official positions not taken up by the personal representatives you will send over.
Your most obedient servants,
Ikleheimer, Morton & Vandergould.
Finance canonizes the great profiteersThe public figure being canonized by Finance is the skillful, the shrewd, the ambitious, the one who sacrifices all to his end, who knows to ally himself to the rich and not so scrupulous financial institutions.
The right law for America is one that so interests the European capitalists, that a circular must be printed to answer their many requests for information.
The circular must be edifying as well, issuing from such a bandits den. The circular expressing the views of the New York firm (but not an American one) contains 16 items of which those numbered 12, 13, 14 and 15 will be of particular interest to those who seek to know the public enemy no 1. Here they are:
12. This currency is printed by the U.S. Government in a form so like greenback money, that many people do not detect the difference, although the currency is but a promise of the bank to pay – that is it is the bank’s demand note, and must be signed by the Bank’s president before it can be used.
13. The demand for money is so great that this currency can be readily loaned to the people across the counter of the bank at a discount at the rate of 10 per cent at 90 days’ to 60 days’ time, making it about 12 per cent interest on the currency.
14. The interest on the bonds, plus the interest on the currency which the bonds secure, plus incidentals of the business ought to make the gross earnings of the bank amount to from 28 to 33 1/3 per cent. The amount of the dividends that may be declared will depend largely upon the salaries of the officers that the banks vote themselves, and the character and rental charges of the premises occupied by the bank as a place of business. In case it is thought best that the showing of profits should not appear too large, the now common plan of having the directors buy the bank buildings and then raising the rent and salary of the president and cashier may be adopted.
15. National banks are privileged to either increase or contract their circulation at will, and, of course, can grant or withhold loans as they may see fit. As the banks have a national organization, and can easily act together in withholding loans or extending them, it follows that they can by united action in refusing to make loans, cause a stringency in the money market and in a single week or even in a single day cause a decline in all the products of the country. The tremendous possibilities of speculation involved in this control of the money of a country like the United States will be at once understood by all bankers.
Let us underline this last paragraph. By their concerted action, banks can, within a few days, make money scarce and bring down all prices, giving them tremendous possibilities of speculation. Scarcity of money is the banks’ policy. Short lived inflations, also of their doing, cannot last too long; they are part of the plan to prepare large confiscations in periods of stringency that are soon to follow.
Money must lack continually in the hands of the people, so that people will come time and time again, through their governments or their farmers and industrialists, borrow some at the source of private profits. This policy of scarce money, of monetary exhaustion of the public, is clearly expressed in the following circular issued to all American bankers, in 1887, by authority of the Associated Bankers of New York, Philadelphia and Boston, signed by one James Buel, secretary, and sent from 247 Broadway St, New York:
“Dear Sir:—It is advisable to do all in your power to sustain such prominent daily and weekly newspapers, especially the Religious and Agricultural Press, as will oppose the greenback issue of paper money, and that you also withhold patronage from all applicants who are not willing to oppose the government issue of money.
“Let the government issue the coin and the banks issue the paper money of the country, for then we can better protect each other. To repeal the act creating bank notes, or to restore to circulation the government issue of money, will be to provide the people with money and will therefore seriously affect our individual profit as bankers and lenders. See your Congressman at once and engage him to support our interests that we may control legislation.”
To see one’s Congressman so as to engage him to support the bankers’ interests that they may control legislation! Are we not justified, we the promoters of Social Credit, to enlist and to organize the people, the multitude of citizens, to bring to bear an efficient pressure upon the deputies and to counteract the pressure long exercised by finance and by the banks? The circular quoted is dated 1877 and since then the banking fraternity has in no way relaxed its organized power, quite to the contrary, as proven by recent events.
The population must not own any money, they must always rely on the bankers. By reducing monetary provisions by restricting money and credit, banks create recessions, cause prices to fall and scoop up the wealth. We are told it is a panic, a generalized loss of confidence, but what causes this panic, what destroys this confidence? “The Panic Circular” was the name given to the circular published by the American Bankers Association on March 12, 1893, and sent to all of the United States National Banks. This was one week after the inauguration of President Cleveland’s term in office, and bankers wished the repeal of the law passed three years earlier; the 1890 law neutralized in part the harm done by the 1983 law we mentioned above. Banks felt that the people were too independent of them. Money in circulation needed to be decreased. Following is the circular dated March 11, 1893 that was sent the following day:
“Dear Sir;
The interests of the National Banks require immediate financial legislation by Congress. Silver certificates and treasury notes must be retired and National Bank Notes upon a gold basis (based on public debt) made the only money. This will require the authorization of $500 million to $1,000 million of new bonds as the basis of circulation You will at once retire one third of your circulation and call one half of your loans. Be careful to make a monetary stringency among your patrons, especially among influential business men. Advocate an extra session of Congress to repeal the purchasing clause of the Sherman Law and act with other banks of your city in securing a large petition to Congress for its unconditional repeal per accompanying form. Use personal influence with your Congressman and particularly let your wishes be known to your Senators. The future life of national banks as fixed and safe investments, depends upon immediate action as there is an increasing sentiment in favor of Government legal tender notes and silver coinage.” (From Who Rules America by C.K.Howe)
The well organized Bankers Association won the game against a non organized public. A special Session of Congress was called for the very purpose of destroying the growing confidence of the people in Government money. To force people into using banking money, money had to be made scarce. It was to be felt in all of America and thus was born the crisis called the panic of 1983.
Is it Heaven, is it weather or is it fate that cause monetary crisis? Does scarcity of money come about without design? Who does it benefit? The following excerpt is taken from a confidential circular written two years prior to the 1983 panic:
“We authorize our loan agents in the western States to loan our funds on real estate to fall due on September 1, 1894, and at no time thereafter. On September 1, 1894, we will not renew our loans under any consideration. On September 1st we will demand our money. We will foreclose and become mortgagees in possession.
“We can take two-thirds of the farms west of the Mississippi, and thousands of them east of the as well own three-fourths of the farms of the West and the money of the country. Then the farmers will become tenants as in England.”
Periodic blood-lettings are carried out still, as well as crisis. The 1907 panic, had no other cause than the contraction of credit. This is an excellent example of the type of ploy continually repeated in all financial crises through to the present.
In May of 1920, a secret meeting was held by the members of the Chamber of the Federal Reserve, its Council and 36 class A Federal Reserve Bank directors. This is the American system of 12 central banks privately owned by member banks, as devised in London by intervention of Paul Warburg, an international financier. After a one day discussion, the assembly decided upon a contraction of the money and credit of the Nation. And so it was that the following July, all prices came tumbling down, farm products fetched half their prices. The 1920-22 recession was on.
The banks issuing of money as debt, and the reimbursement of these credits under conditions determined by the bankers places the world at the bankers’ discretion and this on an international scale. Recessions are universal. All are concerned.
In 1929, the rapid recall of credits caused a 20 billion decrease in short term loans in the United States. This bleeding caused a weakening of the economic body; check transactions went down by 1200 billions: two thirds of all money available to commerce and industry disappeared.
If the banker creates credit that is used as money, he also destroys it, and the circulation of this credit in the economic body, leaves a cancer ridden debt. The great Pope, Pius XI, was right in saying: “Those who control money and credit have become the masters of our lives.”
High Finance is organized in such a way as to control legislation, to dictate to the world its standard of living. What is needed to strike down this powerful foe is nothing less than the coming together of the whole population, of the multitudes.
Some people blame us, the defenders of Social Credit, for bringing money matters to the public attention instead of discussing it only with economists or with the proper authorities. We do this because we want results. We want a sorely needed change. If in Lincoln’s days, the American public had understood the money question, the assassination of this great man would not have caused finance to strengthen its grip upon the American continent. If the Canadian public of all provinces had studied the monetary question since 1933 as was done generally in Alberta, the depression would have ended in 1935 and international finance would no longer have any say in our destinies. Lone individuals have always come forth, they were often heroes; but because they did not know how or were not able to pass on their vision to the people, the people remained in servitude. Jefferson, Lincoln, Greeley, Lindberg, and others in the United States realized, denounced, but nothing changed because the multitudes were unaware.
Academic discussions held in comfortable chambers will not put an end to misery otherwise they would have done so long ago.
The powerful and well educated who remain passive or even disdainful in the great fight for economic liberation, should only expect to lose their crown when the public, at last enlightened and freed, will ask where were our leaders when we suffered in servitude.
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