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71st Congress, 3d Session .
. . . . . House Document No. 825, Vol. III
Papers Relating
to the
Foreign Relations
of the
United States
1930
(In Three Volumes)
Volume III
United States
Government Printing
Office Washington: 1945
[Informer comment: These are
but two pages out of 90 that list all that took place in Vol. III 1930.
It does not include Vol. I or Vol. II. It lists 30 countries with which
the United States is dealing on treaties, and in all cases banking and
loans are appearing in everyone of them. At one point the United States
was seriously thinking of taking over Liberia as it had Puerto Rico, the
Virgin Islands and such other territories. As you can see there is a wealth
of information and it is just too much for me to go into all of it. There
are many more books such as these that I have to digest going back to 1910.
So, please excuse the shortness of this important information and the fact
I had to give the books back to the owner who was so gracious to loan them
to me so I could at least get some of this out to you. There is no hint
of bankruptcy of the United States at all in any of these papers. Rather
it is the bankruptcy of many countries, and the United States, if it was
bankrupt, would not be allowing the loans it was authorizing, or would
it? It knows it can plunder the people anytime it wants and has done so
many, many times.]
LIST OF PAPERS
[Unless otherwise specified,
the correspondence is from or to officials in the Department of State.]
FINLAND
CONTINUATION OF NEGOTIATIONS
FOR AN AGREEMENT REGARDING NATURALIZATION, DUAL NATIONALITY, AND MILITARY
SERVICE
______________________________________________________________________
Date and
Subject
Page
Number
1930 Mar. 8 (1597) From the Minister
in Finland
Foreign Office
note of March 7 (text printed), expressing view of Finnish Government that
article I of proposed naturalization treaty conflicts with Finnish nationality
law of June 17, 1927.
1
Oct. 8 (17) To the Minister in
Finland
Hope that
after further study of operation of Finnish nationality law of 1927, the
Finnish Government may find it possible to enter into agreement along lines
of the draft treaty.
(Footnote:
Information that convention regulating military obligations of persons
having dual nationality Was signed with Finland on January 27, 1939.)
4
_______________________________________________________________________
FRANCE
NEGOTIATIONS FOR A TREATY
BETWEEN THE UNITED STATES AND FRANCE
REGARDING DOUBLE TAXATION
______________________________________________________________________
1930 Jan. 27 (138) From the
Ambassador in France
6
Willingness
of French Government to enter into discussion of double taxation problem.
Feb. 14 (221) From the Ambassador
in France
Proposal
by French officials for execution of treaty; suggestion that Mr. Mitcheli
Carroll, of the Bureau of Internal Revenue, be designated to come to Paris
to open negotiations.
7
Apr. 23 (137)
To the Ambassador in France
Advice that
Mr. E. C. Alvord, Special Assistant to the Secretary of the Treasury, Mr.
Mitchell B. Carroll, of the Bureau of Internal Revenue, and Professor Thomas
S. Adams, of Yale University, will arrive in Paris in the early part of
May for exploratory discussions.
8
May 6 (130)
>From the Ambassador in France (tel.)
Arrival of
American representatives, who are conferring with American business men
and will shortly begin informal negotiations with French authorities.
9
May 13 (158)
To the Ambassador in France
Tentative
draft of double taxation convention (text printed), provisions of which
conform to principles of Hawley bill for reduction of international double
taxation. 10
VII
***********************************************************************
XXXII
LIST OF PAPERS
IRAQ
GOOD OFFICES TO AMERICAN FIRMS
INTERESTED IN ENTERING THE IRAQ OIL
FIELDS--Continued
______________________________________________________________________
Date and
Subject
Page
number
1930 Aug. 1 (454)
To the Ambassador in Great Britain
Request for
report on progress and outcome of negotiations regarding revision of agreement
between Iraq Government and Iraq Petroleum Co.; also any available information
concerning reported negotiations of British Oil Development Co. with Iraq
Government.
311
Aug. 23 (196)
>From the Charge' in Great Britain (tel.)
Understanding
that proposals have been made for modification of petroleum convention,
terms to be presented to interested American oil group for consideration.
311
(Footnote: Information that two
agreements amending Turkish Petroleum Co.'s concession were signed March
24, 1931, and ratified by Iraq Government May 18, 1931.
_______________________________________________________________________
ITALY
DENIAL BY THE SECRETARY OF STATE
OF REPORTS THAT THE UNITED STATES GOVERNMENT, AS A MEANS OF BRINGING. PRESSURE
FOR DISARMAMENT, WAS DISAPPROVING LOANS TO ITALY
1930 Dec. 6
Memorandum by the Assistant Secretary of State
Italian Ambassador's
desire that the Secretary make a statement at his press conference denying
newspaper rumors that Department has disapproved American loans to Italy.
312
Dec. 8 (108)
To the Ambassador in Italy {tel.)
Instructions
to inform Foreign Minister Grandi of Secretary's denial of the press reports
in question.
312
Dec. 20 (295)
To the Ambassador in Italy
Advice from
Italian Ambassador that denial had received wide Publicity and was satisfactory.
314
1931 Jan. 2 (303) To the Ambassador
in Italy
Memorandum
of conversation with Italian Ambassador on December 15, 1930 (text printed),
in which he read telegram of thanks from Foreign Minister Grandi for Secretary's
action in recent press campaign against Italy.
314
____________________________________________________________________
JAPAN
THE EXCLUSION CLAUSE OF THE AMERICAN
IMMIGRATION ACT OF MAY 26, 1924
_______________________________________________________________________
1930 Oct. 30 Memorandum by the
Secretary of State
Conversation with Japanese Ambassador,
who expressed the desire to take up question of immigration~ unofficially
and confidentially, with Assistant Secretary of State Castle;
nonobjection of Secretary.
______________________________________________________________________
MORE PAPERS
Now we get
to the meat of the problem of the American people. One must remember that
the Act of 1920 allowed the Federal Reserve Banks, which are privately
run by private owners, to become the fiscal agents of the United States
since the Independent Treasury of the States and United States was abolished
at the insistence of the money changers. Congress abdicated its position
and violated its oath to uphold their Constitution that limited them, and
in so doing became a criminal violator. So with all these loans floating
to other countries by the private American banks and finance companies
and these countries wasting what was loaned to them, you can see why in
just two short years (1930 to 1932) the financial institutions were in
trouble and needed a bail out because they borrowed from The Feds. The
Feds, producing all this credit paper, Federal Reserve Scrip erroneously
called Notes, is where all the Financial institutions you just read about
got their "money" from. Since the Feds loaned all these debt obligations
you have paid for that ever since in income taxes that sop up all these
debt obligations.
Here the progression
can be seen in the Presidential Papers of Herbert Hoover and also who was
running the country behind the scenes. It was not Congress, that is for
sure.
PUBLIC PAPERS OF THE PRESIDENTS
OF THE UNITED STATES
Herbert Hoover
Containing the Public Messages,
Speeches, and
Statements of the President
January 1,1933 To March
4, I933
1932-33
The seal does not scan in
text
UNITED STATES GOVERNMENT
PRINTING OFFICE
WASHINGTON: 1977
Supplement I
I may add
that these matters are dealt with here only in summary form, because it
is understood that you are familiar with the results of the discussions
that have taken place recently, including the conference that was held
Tuesday evening.
Respectfully yours,
Eugene Meyer
Governor
__________________________
[Letter, dated March 2, 1933, from
Secretary Mills, follows.]
Dear Mr. President:
Referring
to your personal notes of February 22nd and March 1st, 1933, I have submitted
to Mr. Woodin in detail the various phases of the present financial and
banking situations and the critical nature of the problems that confront
the country and the Government. I emphasized the desire of the Administration
to cooperate in every way with the incoming Administration and to facilitate
the transfer of the government from the present to the incoming Administration.
On the occasion
of my first conference with him on February 22nd, I pointed out how enormously
helpful it would be were Governor Roosevelt willing at once to declare
that it would be his policy to take all necessary steps to bring the budget
of the Federal Government into balance and to maintain the credit of the
Government and to resist all schemes looking to uncontrolled inflation.
Again last night, I stated as emphatically as I could that great as are
the present difficulties, their solution would be greatly facilitated by
a clean-cut declaration along these lines in the Inaugural Address, while
a failure to do so would inevitably increase the existing uncertainty and
fear and magnify the obstacles to be overcome.
Mr. Woodin
evidently was not in a position to commit the President-elect, but he and
I have spoken fully and frankly. He certainly knows my views, and I think
they faithfully represent yours. I know that he will welcome any assistance
that I may be able to give him in taking over his own immediate and at
present extremely difficult duties.
Faithfully yours,
Ogden L. Mills
Secretary of the Treasury
[Hon. Herbert Hoover. The White
House]
______________________
[ The President's letter to the
Federal Reserve Board, dated March 2. 1933. follows.]
Gentlemen:
I understand
that the Board is meeting this evening to consider recommending to me the
use of the emergency powers under Section 5 of the Enemy Trading Act
1074
Supplement I
as amended, for the purpose of
limiting the use of coin and currency to necessary purposes. I shall be
glad to have the advice of the Board. If it is the view of the Board that
these powers should be exerted I would be glad to have your recommendation
accompanied by a form of proclamation, as it would seem to me it should
be issued by me before banking hours tomorrow morning.
I also take
this occasion to acknowledge the receipt of your letter of February 28th.
I am familiar with the inherent dangers in any form of federal guarantee
of banking deposits, but I am wondering whether or not the situation has
reached the time when the Board should give further consideration to this
possibility. I am enclosing herewith a rough outline of a method upon which
I should like to have the Board advise me.
Yours faithfully,
HERBERT HOOVER
To the Governor and Directors
of the Federal Reserve Board, Washington, D.C.]
Plan submitted to Secretary
Mills and rejected by him
(Plan sent to Federal Reserve
Board March 2.)
1. All member banks shall be eligible. All non-member banks shall be eligible
upon appraisal by the Federal Reserve Banks or by the Comptroller or such
agencies as he may designate that the net assets of such bank exceeds 50%
of the depositors.
Naming of the plan to be voluntary
with the banks.
2. For purposes of the plan, deposits in the joining banks are to be divided
into two categories, that is "active deposits" and "inactive deposits".
3. The government to guarantee 100% of the "active deposits".
4. The "active deposits' to be
a. New deposits made in the banks.
b. 50% of the existing deposits of all depositors except secured or guaranteed
depositors.
5. The "active deposits" to be a first charge of all assets of the bank
including 'shareholders' liabilities. "Inactive deposits" to be subordinated
entirely to the "active deposits" and not be available to depositors so
long as the guarantee is outstanding.
6. The percentage of credit to the individual "active depositor" may be
increased [around] 50% on examination of the assets of the bank such assets
prove to be greater than 50% but no such increase to exceed more than 75%
of the value of existing assets. This plan could be extended to banks whose
assets are below 50% by guaranteeing an active account at some proportion
of whatever the assets are, say [unreadable] the assets show 40% of deposits,
the "active accounts" could be opened at 50% and be made subject to federal
guarantee).
1075
Supplement I
To get at it was through the
authority of the Governor in State institutions and our control of hoarding
and exchange. He said that Lehman was within a few minutes having a meeting
with both of these groups together; that he had no doubt that they would
settle it. I asked him if he agreed with my view that there should be no
national proclamation closing all the banks. He said he did not want it
and would not support it as he wanted to consider the whole question. He
told me that he had been talking with Senator Glass for an hour. Glass
was opposed to a national closing; that he was opposed to national legislation;
that he considered the whole business to be cleaned up through a series
of clearinghouses if the bankers of the country would stand up and change
their attitude; and that he, Roosevelt, was taking that view. I asked him
if I might repeat to my colleagues his statement while he held on to the
line. He did so. I told him that I thought that ended all question of national
proclamation and he agreed.
Robinson
then at once rang up Chicago and asked them how they were coming on. They
expressed the view that the President should not under any circumstances
issue a proclamation; that they had the Governor of Illinois in a meeting
at that moment with the Federal Reserve and representative banking officials,
together with the clearinghouse people; that the Governor was perfectly
prepared to put in the holiday if the banks asked for it and that a national
closing might do much harm.
At 12 o'clock,
Dawes rang me up and asked what the situation was. I told him the situation.
I then went to bed.
Saturday, March 4, I933
At 1:30,
I was awakened by the policeman who delivered the attached letter from
Eugene Meyer. At 8 o'clock in the morning I checked up and found that the
two Governors had issued their proclamations. I called up Mills at 9:30
to ask him what had taken place at the Federal Reserve Board that gave
rise to the letter they had written to me. He told me that he had objected
to the letter but that they had overruled him; that Meyer was merely trying
to escape responsibilities; that
1084
Supplement I
Meyer had been the origin of
the whole movement with Woodin and was anxious to loom large in the new
administration; that he, Mills, had objected all along to the letter.
At 10 o'clock
I wrote to Meyer my opinion of what he had done. [Eugene Meyer's letter
with enclosures, dated March 3, 1933, follows.]
Dear Mr. President:
The Federal
Reserve Board has been in session again this evening reviewing the latest
reports of developments. The situation as reported from Chicago has reached
the point of extreme tension, with prospects that by the end of banking
hours tomorrow the gold reserves of the Federal Reserve Bank of Chicago
will be dangerously depleted. Representative bankers are assembled there
tonight and have requested that a national holiday be proclaimed as the
only method they know of dealing with the immediate exigency with which
they are confronted.
There is
enclosed a copy of a resolution adopted by the Board of Directors of the
Federal Reserve Bank of New York, now in session. This resolution speaks
for itself as to the New York situation.
Similar conditions
are developing rapidly in other Federal reserve districts. The Federal
Reserve Board has considered two methods of dealing with this emergency,
one by executive order and the other by joint resolution of Congress. The
Senate having adjourned for the day, the issuance of an executive order
seems to be the only alternative to meet the immediate situation. A form
of executive order is enclosed for your consideration.
The Federal
Reserve Board feels that it cannot too strongly urge that the situation
has reached a point where immediate action is necessary to prevent a banking
collapse.
Respectfully,
Eugene Meyer
Governor
P.S. Since this letter was dictated,
there has been communicated to us, by telephone, a resolution adopted by
the Executive Committee of the Federal Reserve Bank of Chicago, now in
session. A copy of this resolution also is enclosed.
Enclosures.
[The President, The White House]
_________________________
Resolution Adopted by the Federal
Reserve Board of New York
WHEREAS, In
the opinion of the Board of Directors of the Federal Reserve Bank of New
York, the continued and increasing withdrawal of currency and gold from
the banks of the country has now created a national emergency, and
1085
Supplement I
WHEREAS, It
is understood that adequate remedial measures cannot be enacted before
tomorrow morning,
NOW, THEREFORE,
BE IT RESOLVED, That in this emergency the Federal Reserve Board is hereby
requested to urge the President of the United States to declare a bank
holiday Saturday, March 4, and Monday, March 6, in order to afford opportunity
to governmental authorities and the banks themselves to take such measures
as may be necessary to protect the interests of the people and promptly
to provide adequate banking and credit facilities for all parts of the
country.
__________________________
Proposed Executive Order
Executive Order
WHEREAS the nation's
banking institutions are being subjected to heavy withdrawals of currency
for hoarding; and
WHEREAS there
is increasing speculative activity in foreign exchanges; and
WHEREAS these
conditions have created a national emergency in which it is in the best
interest of all bank depositors that a period of respite be provided with
a view to preventing further hoarding of coin, bullion or currency or speculation
in foreign exchange, and permitting the application of appropriate measures
for dealing with the emergency in order to protect the interests of all
the people; and
WHEREAS it
is provided in Section 5(b) of the Act of October 6. 1917, as amended,
that "The President may investigate, regulate, or prohibit, under such
rules and regulations as he may prescribe, by means of licenses or otherwise,
any transactions in foreign exchange and the export, hoarding, melting,
or earmarkings of gold or silver coin or bullion or currency ' * * *";
and
WHEREAS it
is provided in Section 16 of the said Act that "Whoever shall willfully
violate any of the provisions of this Act or of any license, rule, or regulation
issued thereunder, and whoever shall willfully violate, neglect, or refuse
to comply with an), order of the President issued in compliance with the
provisions of this Act shall. upon conviction, be fined not more than $10,000,
or, if a natural person, imprisoned for not more than ten years, or both
* ' *":
NOW, THEREFORE,
pursuant to the authority granted by said Act, I hereby order, direct and
declare that:
1. From Saturday,
the fourth day of March, to Tuesday, the Seventh day of March, Nineteen
Hundred and Thirty. Three, both dates inclusive, there shall be maintained
and observed throughout the United States of America a bank holiday for
all of the purposes hereinafter set forth;
2. During
said holiday, no banking institution as hereinafter defined shall pay out,
export, earmark, or permit the withdrawal or transfer in any manner or
by
1086
COMMENT: Whom are they kidding?
Protecting the people? No, they are protecting themselves from criminal
purloining of the people's money so the people would never find out because
they would all go to jail, including Rockefeller who owned the Chicago
bank. You saw all the loans and wheeling and dealing in the 30's and that
would include the Firestone bank because this includes all types of banking
as you will see in the next page.
Supplement I
any device whatsoever of any
gold or silver coin or bullion or currency or take any other action which
might facilitate the hoarding thereof; nor shall any such banking institution
pay out deposits, make loans or discounts, deal in foreign exchange, or
transact any other banking business whatsoever.
3. Upon the
expiration of said holiday and until otherwise ordered by the President
of the United States, such banking institutions may pay out, export, earmark
or permit the withdrawal or transfer of gold or silver coin or bullion
or currency, or deal in foreign exchange to such extent as may be permitted
by license or otherwise under regulations issued by the Secretary of the
Treasury with the approval of the President.
4. The Secretary
of the Treasury, with the approval of the President, is authorized and
empowered to prescribe such regulations as he may find necessary to carry
out the purposes of this order.
5. The term
"banking institution" as herein used shall include all Federal reserve
banks, national banking associations, banks, trust companies, savings banks,
building and loan associations, credit unions, or other corporations,
partnerships, associations or persons engaged in the business of receiving
deposits, making loans, discounting business paper, or transacting
any other form of banking business.
The White House March, 1933.
__________________________________
RESOLUTION ADOPTED BY THE
FEDERAL RESERVE BOARD OF CHICAGO
WHEREAS, The
Executive Committee of the Board of Directors of the Federal Reserve Bank
of Chicago believes that the continuation of the withdrawal of currency
and gold from the banks of the country has created a national emergency
which requires immediate action, and
WHEREAS,
it appears that adequate measures cannot be enacted to remedy this situation
unless governmental authorities act tonight.
NOW, THEREFORE,
be it resolved that because of this emergency it is the sense of this Committee
that the Federal Reserve Board should urge upon the President of the United
States that he immediately declare a bank holiday for Saturday, March 4,
and Monday, March 6, in order to give the banks and the governmental authorities
sufficient time and an opportunity to provide the necessary measures for
the protection of the public interests and so that adequate banking and
credit facilities may be provided as promptly as possible for the entire
Nation.
1087
Supplement 1
[President Hoover's letter, dated
March 4, 1933, in response to Eugene Meyer, follows.]
My dear Governor Meyer:
I received
at half past one this morning your letter dated March 3rd. I must assume
that this letter was written on the basis of information received by you
prior to 11:30 o'clock last night for the reason that before your letter
was sent you had certain information as follows:
a. At 11
o'clock last night the President-elect had informed me he did not wish
such a proclamation issued.
b. The Attorney
General had renewed the same opinion which he had already given to the
Board that the authorities on which you were relying were inadequate unless
supported by the incoming Administration.
c. That groups
of representative bankers in both Chicago and New York, embracing members
of the Board of Directors of the Federal Reserve Banks in those cities,
were then in conference with the governors of the states of Illinois and
New York, and that the governors of these two states were prepared to act
if these representative groups so recommended. It appears that the governors
did take action under their authorities, declaring a temporary holiday
in these two critical states, and thus accomplishing the major purposes
which the Board apparently had in mind.
In view of
the above I am at a loss to understand why such a communication should
have been sent to me in the last few hours of this Administration, which
I believe the Board must now admit was neither justified nor necessary.
Yours faithfully,
Herbert Hoover
[Hon. Eugene Meyer, Federal Reserve
Board, Washington, D.C.]
____________________
[The coverage of this volume
ends at noon on March 4, 1933, with the close of the Hoover administration.
Copies of the journal of events from the evening of March 4 to March 8,
can be obtained from the Herbert Hoover Presidential Library, West Branch,
Iowa. 52358]
1088
COMMENT: Hoover would not
have instituted what the Federal Reserve Board wanted. He even made the
comment at (a) above that Roosevelt would not do it. Roosevelt was
a liar because this was March 4th 1933 read the next
page to see how well Roosevelt lived up to his word the very next day.
PROCLAMATIONS
[Convening the Congress
in Extra Session]
By The President of the
United States of America
A PROCLAMATION March 5 1933
Convening extra session
of Congress, March 9, 1933
Preamble
Whereas public
interests require that the Congress of the United
States should be convened in
extra session at twelve o'clock, noon, on
Ninth day of March, 1933, to
receive such communication as may be made by the Executive;
Now, Therefore,
I, Franklin D. Roosevelt, President of the United States of America, do
hereby proclaim and declare that an extraordinary occasion requires the
Congress of the United States to convene in extra session at the Capitol
in the city of Washington on the Ninth day of March, 1933, at twelve o'clock,
noon, of which all persons who shall at that time be entitled to act as
members thereof are hereby required to take notice.
IN WITNESS
WHEREOF, I have hereunto set my hand and caused to be affixed the great
seal of the United States.
Done at the
City of Washington this Fifth day of March, in the year of our Lord One
Thousand Nine Hundred and Thirty-three, and [seal] of the Independence
of the United States the One Hundred and Fifty-seventh
FRANKLIN D. ROOSEVELT
By the President:
CORDELL HULL
Secretary of State.
[No. 2038]
______________________________
COMMENT: I am leaving out
Executive Order 2039 and 2040. They say the same thing, word for unchanged
word, as what the Federal Reserve Board proposed. Here you are people,
all the evidence you want as to who runs this country from the very inception
to present day. Have a good year this coming year, and remember you have
no representatives in Washington and never have.
PART OF McFADDEN'S SPEECH
With the above documents now
published from the 1930 era, you will have a better understanding why all
this loan money was paid to these foreign countries and are better able
to Understand Congressman Louis McFadden's speech in 1933. I only post
a small portion here and the rest can be obtained by going to http://home.hiwaay.net/~becraft/mcfadden.html
as they already have scanned in the text of the Congressional Record. Please
note the reference to Germany that McFadden makes and compare this to what
you read on the 1930 papers on the money already loaned to Germany and
the forgiveness of the German debt.
"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 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; 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 it 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.
END
As I had stated before in my
comments in the 1930 papers, you, the American, had to be declared the
enemy of the banking cartel in 1933, otherwise the American people could
have demanded all their holdings they entrusted the banks to handle. This
would have caused the real collapse of the banking industry and shown the
fraud of the paper money. It would have put all the bankers in jail for
theft and probably a lot of high placed government officials including
the Secretary of Treasury and J.P. Morgan, Rockefeller, Stimson (Sec. Of
State), Getty , Firestone and many more for helping to steal the American
people's money under conspiracy. But people will never learn as has been
shown through out the history of banking in this country alone. People
just love to trust other people with their money and will forever get burnt
for doing so. Since the first bank was formed in America; through the "bank
swindles" of the 1830's; to the "Crime of 73" (1873) and the fall of the
banking firm of Jay Cooke; to the abolishment of the Independent Treasury
in 1921; to the pretended collapse of 1929/30 and on and on up to the present
day where Greenspan is the actual shaker for the movers ( the private banking
cartel) that run the country. The president and Congress are but mere pawns
and the lawyer judges of the entire country have been compromised by the
movers and shakers. And, the American people just love it. The proof of
this love to be raped is evidenced by the mere fact that none of these
American people can see to handle their own money and turn it over to thieves
because it is just to hard to be without banking. So when the people complain
they have been raped over and over by the banking cartel they have no one
but themselves to blame.
The Informer
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