The
Federal Reserve An Astounding Exposure 1934 Part 3 By
Congressman, Louis T. McFadden
Enemies of the
People They Rob
"I do not like to see vivisections performed on human
beings. I do not like to see the American people used for experimental purposes
by the credit masters of the United States. They predicted among themselves that
they would be able to produce a condition here in which American citizens would
be completely humbled and left starving and penniless in the
streets.
"The fact that they made that assertion while they were
fomenting their conspiracy against the United States that they like to see a
human being, especially an American, stumbling from hunger when he walks.
"Something should be done about it, they say. Five-cent meals, or something!
"But FDR will not permit the House of Representatives to investigate the
condition of the Fed. FDR will not do that. He has certain International Bankers
to serve. They not look to him as the man Higher Up who will protect them from
the just wrath of an outraged people.
"The International Bankers have
always hated our pensioners. A man with a small pension is a ward of the
Government. He is not dependent upon them for a salary or wages. They cannot
control him. They do not like him. It gave them great pleasure, therefore, to
slash the veterans.
"But FDR will never do anything to embarrass his
financial supporters. He will cover up the crimes of the Fed.
"Before he
was elected, Mr. Roosevelt advocated a return to the earlier practices of the
Fed, thus admitting its corruptness. The Democratic platform advocated a change
in the personnel of the Fed. These were campaign bait. As a prominent Democrat
lately remarked to me; "There is no new deal. The same old crowd is in
control."
"The claims of foreign creditors of the Fed have no validity in
law. The foreign creditors were the receivers- and the willing receivers- of
stolen goods! They have received through their banking fences immense amounts of
currency, and that currency was unlawfully taken from the United States Treasury
by the Fed.
"England discovered the irregularities of the Fed quite early
in its operations and through fear, apparently, the Fed have for years suffered
themselves to be blackmailed and dragooning England to share in the business of
the Fed. "The Fed have unlawfully taken many millions of dollars of the public
credit of the United States and have given it to foreign sellers on the security
of the Debt paper of foreign buyers in purely foreign transactions, and when the
foreign buyers refused to meet their obligations and the Fed saw no honest way
of getting the stolen goods back into their possession, they decided by control
of the executive to make the American people pay their losses!
Conspiracy
of War Debts
"They likewise entered into a conspiracy to deprive the
people of the U.S. of their title to the war debts and not being able to do that
in the way they intended, they are now engaged in an effort to debase the
American dollar so that foreign governments will have their debts to this
country cut in two, and then by means of other vicious underhanded arrangements,
they propose to remit the remainder.
"So far as the U.S. is concerned,
the gambling counters have no legal standing. The U.S. Treasury cannot be
compelled to make good the gambling ventures of the corrupt and dishonest Fed.
Still less should the bank deposits of the U.S. be used for that purpose. Still
less should the national currency have been made irredeemable in gold so that
the gold which was massed and stored to redeem the currency for American
citizens may be used to pay the gambling debts of the Fed for England's benefit.
"The American people should have their gold in their own possession where it
cannot be held under secret agreement for any foreign control bank, or world
bank, or foreign nation. Our own citizens have the prior claim to it. The paper
[money men] have in their possession deserves redemption far more than U.S.
currency and credit which was stolen from the U.S. Treasury and bootlegged
abroad.
"Why should the foreigners be made preferred creditors of the
bankrupt U.S.? Why should the U.S. be treated as bankrupt at all? This
Government has immense sums due it from the Fed. The directors of these
institutions are men of great wealth. Why should the guilty escape the
consequences of their misdeeds? Why should the people of these U.S. surrender
the value of their gold bank deposits to pay off the gambling debts of these
bankers? Why should Roosevelt promise foreigners that the U.S. will play the
part of a good neighbor, 'meeting its obligations'?
"Let the Fed meet
their own obligations.
"Every member of the Fed should be compelled to
disgorge, and every acceptance banker and every discount corporation which has
made illegal profits by means of public credit unlawfully bootlegged out of the
U.S. Treasury and hired out by the crooks and vultures of the Fed should be
compelled to disgorge.
Federal Reserve Pays No Taxes
"Gambling
debts due to foreign receivers of stolen goods should not be paid by sacrificing
our title to our war debts, the assets of the U.S. Treasury- which belong to all
the people of the U.S. and which it is our duty to preserve inviolate in the
people's treasury.
"The U.S. Treasury cannot be made liable for them. The
Fed currency must be redeemed by the Fed banks or else these Fed banks must be
liquidated.
"We know from assertions made here by the Hon. John N.
Garner, Vice-President of the U.S. that there is a condition in the [United
States such] would cause American citizens, if they knew what it was, to lose
all confidence in their government.
"That is a condition that Roosevelt
will not have investigated. He has brought with him from Wall Street, James
Warburg, the son of Paul M. Warburg. Mr. Warburg, alien born, and the son of an
alien who did not become naturalized here until several years after this
Warburg's birth, is a son of a former partner of Kuhn, Loeb and Co., a grandson
of another partner, a nephew of a former partner, and a nephew of a present
partner.
"He holds no office in our Government, but I am told that he is
in daily attendance at the Treasury, and that he has private quarters there! In
other words, Mr. Chairman, Kuhn, Loeb and Company now has control and occupy the
U.S. Treasury.
Preferred Treatment for Foreigners
"The text of the
Executive order which seems to place an embargo on shipments of gold permits the
Secretary of the Treasury, a former director of the corrupt, to issue licenses
at his discretion for the export of gold coin, or bullion, earmarked or held in
trust for a recognized foreign government or foreign central bank for
international settlement. Now, Mr. Chairman, if gold held in trust for those
foreign institutions may be sent to them, I see no reason why gold held in trust
for American as evidenced by their gold certificates and other currency issued
by the U.S. Government should not be paid to them. "I think that American
citizens should be entitled to treatment at least as good as that which the
person is extending to foreign governments, foreign central banks, and the bank
of International Settlements. I think a veteran of the world war, with a $20.00
gold certificate, is at least as much entitled to receive his own gold for it,
as any international banker in the city of New York or London.
"By the
terms of this executive order, gold may be exported if it is actually required,
for the fulfillment of any contract entered into prior to the date of this order
by an applicant who, in obedience to the executive order of April 5, 1933, has
delivered gold coin, gold bullion, or gold certificates. "This means that gold
may be exported to pay the obligations abroad of the Fed which were incurred
prior to the date of the order, namely, April 20, 1933.
"If a European
Bank should send 100,000,000 dollars in Fed currency to a bank in this country
for redemption, that bank could easily ship gold to Europe in exchange for that
currency. Such Fed currency would represent "contracts" entered into prior to
the date of the order. If the Bank of International Settlements or any other
foreign bank holding any of the present gambling debt paper of the Fed should
draw a draft for the settlement of such obligation, gold would be shopped to
them because the debt contract would have been entered into prior to the date of
order.
Crimes and Criminals
"Mr. Speaker, I rise to a question of
constitutional privilege.
"Whereas, I charge. . .Eugene Meyer, Roy A.
Young, Edmund Platt, Eugene B. Black, Adolph Casper Miller, Charles S. Hamlin,
George R. James, Andrew W. Mellon, Ogden L. Mills, William H. Woo W. Poole,
J.F.T. O'Connor, members of the Federal Reserve Board; F. H. Curtis, J.H. Chane,
R.L. Austin, George De Camp, L.B. Williams, W.W. Hoxton, Oscar Newton, E.M.
Stevens, J.S. Wood, J.N. Payton, M.L. McClure, C.C. Walsh, Isaac B. Newton,
Federal Reserve Agents, jointly and severally, with violations of the
Constitution and laws of the United States, and whereas I charge them with
having taken funds from the U.S Treasury which were not appropriated by the
Congress of the United States, and I charge them with having unlawfully taken
over $80,000,000,000 from the U.S. Government in the year 1928, the said
unlawful taking consisting of the unlawful creation of claims against the U.S.
Treasury to the extent of over $80,000,000,000 in the year 1928; and I charge
them with similar thefts committed in 1929, 1930, 1931, 1932 and 1933, and in
years previous to 1928, amounting to billions of dollars; and
"Whereas I
charge them, jointly and severally with having unlawfully created claims against
the U.S. Treasury by unlawfully placing U.S. Government credit in specific
amounts to the credit of foreign governments and foreign central banks of issue;
private interests and commercial and private banks of the U.S. and foreign
countries, and branches of foreign banks doing business in the U.S., to the
extent of billions of dollars; and with having made unlawful contracts in the
name of the U.S. Government and the U.S. Treasury; and with having made false
entries on books of account; and
"Whereas I charge them jointly and
severally, with having taken Fed Notes from the U.S. Treasury and with having
put Fed Notes into circulation without obeying the mandatory provision of the
Fed Act which requires the Fed Board to fix an interest rate on all issues of
Fed Notes supplied to Fed Banks, the interest resulting therefrom to be paid by
the Fed Banks to the government of the U.S. for the use of the Fed Notes, and I
charge them of having defrauded the U.S. Government and the people of the U.S.
of billions of dollars by the commission of this crime, and
"Whereas I
charge them, jointly and severally, with having purchased U.S. Government
securities with U.S. Government credit unlawfully taken and with having sold the
said U.S. Government securities back to the people of the U.S. for gold or gold
values and with having again purchased U.S. Government securities with U.S.
Government credit unlawfully taken and with having again sold the said U.S.
Government security for gold or gold values, and I charge them with having
defrauded the U.S. Government and the people of the U.S. by this rotary process;
and
"Whereas I charge them, jointly and severally, with having unlawfully
negotiated U.S. Government securities, upon which the Government liability was
extinguished, as collateral security for Fed Notes and with having substituted
such securities for gold which was being held as collateral security for Fed
Notes, and with having by the process defrauded the U.S. Government and the
people of the U.S., and I charge them with the theft of all the gold and
currency they obtained by this process; and
"Whereas I charge them,
jointly and severally, with having unlawfully issued Fed currency on false,
worthless and fictitious acceptances and other circulating evidence of debt, and
with having made unlawful advances of Fed currency, and with having unlawfully
permitted renewals of acceptances and renewals of other circulating evidences of
debt, and with having permitted acceptance bankers and discount dealer
corporations and other private bankers to violate the banking laws of the U.S.;
and
"Whereas I charge them, jointly and severally, with having conspired
to have evidences of debt to the extent of $1,000,000,000 artificially created
at the end of February, 1933, and early in March 1933, and with having made
unlawful issues and advances of Fed currency on the security of said
artificially created evidences of debt for a sinister purpose, and with having
assisted in the execution of said sinister purpose; and
"Whereas I charge
them, jointly and severally, with having brought about the repudiation of the
currency obligations of the Fed Banks to the people of the U.S. and with having
conspired to obtain a release for the Fed Board and the Fed Banks from their
contractual liability to redeem all Fed currency in gold or lawful money at the
Fed Bank and with having defrauded the holders of Fed currency, and with having
conspired to have the debts and losses of the Fed Board and the Fed Banks
unlawfully transferred to the Government and the people of the U.S.,
and
"Whereas I charge them, jointly and severally, with having unlawfully
substituted Fed currency and other irredeemable paper currency for gold in the
hands of the people after the decision to repudiate the Fed currency and the
national currency was made known to them, and with thus having obtained money
under false pretenses; and
"Whereas I charge them, jointly and severally,
with having brought about a repudiation of the notes of the U.S. in order that
the gold value of the said currency might be given to private interests, foreign
governments, foreign central banks of issues, and the Bank of International
Settlements, and the people of the U.S. to be left without gold or lawful money
and with no currency other that a paper currency irredeemable in gold, and I
charge them with having done this for the benefit of private interests, foreign
governments, foreign central banks of issue, and the bank of International
Settlements; and
"Whereas I charge them, jointly and severally, with
conniving with the Edge Law banks, and other Edge Law institutions, accepting
banks, and discount corporations, foreign central banks of issue, foreign
commercial banks, foreign corporations, and foreign individuals with funds
unlawfully taken from the U.S. Treasury; and I charge them with having
unlawfully permitted and made possible 'new financing' for foreigners at the
expense of the U.S. Treasury to the extent of billions of dollars and with
having unlawfully permitted and made possible the bringing into the United
States of immense quantities of foreign securities, created in foreign countries
for export to the U.S. and with having unlawfully permitted the said foreign
securities to be imported into the U.S. instead of gold, which was lawfully due
to the U.S. on trade balances and otherwise, and with having lawfully permitted
and facilitated the sale of the said foreign securities in the U.S.,
and
"Whereas I charge them, jointly and severally, with having unlawfully
exported U.S. coins and currency for a sinister purpose, and with having
deprived the people of the U.S. of their lawful medium of exchange, and I charge
them with having arbitrarily and unlawfully reduced the amount of money and
currency in circulation in the U.S. to the lowest rate per capita in the history
of the Government, so that the great mass of the people have been left without a
sufficient medium of exchange, and I charge them with concealment and evasion in
refusing to make known the amount of U.S. money in coins and paper currency
exported and the amount remaining in the U.S. as a result of which refusal the
Congress of the U.S. is unable to ascertain where the U.S. coins and issues of
currency are at the present time, and what amount of U.S. currency is now held
abroad; and
"Whereas I charge them, jointly and severally, with having
arbitrarily and unlawfully raised and lowered the rates of money and with having
arbitrarily increased and diminished the volume of currency in circulation for
the benefit of private interests at the expense of the Government and the people
of the U.S. and with having unlawfully manipulated money rates, wages, salaries
and property values both real and personal, in the U.S. by unlawful operations
in the open discount market and by resale and repurchase agreements unsanctioned
by law, and
"Whereas I charge them jointly and severally, with having
brought about the decline in prices on the New York Stock Exchange and other
exchanges in October, 1929, by unlawful manipulation of money rates and the
volume of U.S. money and currency in circulation: by theft of funds from the
U.S. Treasury by gambling in acceptances and U.S. Government securities; by
service rendered to foreign and domestic speculators and politicians, and by
unlawful sale of U.S. gold reserves abroad, and
"Whereas the
unconstitutional inflation law imbedded in the so-called Farm Relief Act by
which the Fed Banks are given permission to buy U.S. Government securities to
the extent of $3,000,000,000 and to drew forth currency from the people's
Treasury to the extent of $3,000,000,000 is likely to result in connivance on
the part of said accused with others in the purchase by the Fed of the U.S.
Government securities to the extent of $3,000,000,000 with U.S. Government's own
credit unlawfully taken, it being obvious that the Fed do no not intend to pay
anything of value to the U.S. Government for the said U.S. Government securities
no provision for payment in gold or lawful money appearing in the so-called Farm
Relief bill- and the U.S. Government will thus be placed in a position of
conferring a gift of $3,000,000,000 in the U.S. Government securities on the Fed
to enable them to pay more on their bad debts to foreign governments, foreign
central banks of issue, private interests, and private and commercial banks,
both foreign and domestic, and the Bank of International Settlements,
and
"Whereas the U.S. Government will thus go into debt to the extent of
$3,000,000,000 and will then have an additional claim of $3,000,000,000 in
currency unlawfully created against it and whereas no private interest should be
permitted to buy U.S. Government securities with the Government's own credit
unlawfully taken and whereas currency should not be issued for the benefit of
said private interest or any interests on U.S. Government securities so
acquired, and whereas it has been publicly stated and not denied that the
inflation amendment of the Farm Relief Act is the matter of benefit which was
secured by Ramsey MacDonald, the Prime Minister of Great Britain, upon the
occasion of his latest visit to the U.S. Treasury, and whereas there is grave
danger that the accused will employ the provision creating U.S. Government
securities to the extent of $3,000,000,000 and three millions in currency to be
issuable thereupon for the benefit of themselves and their foreign principals,
and that they will convert the currency so obtained to the uses of Great Britain
by secret arrangements with the Bank of England of which they are the agents,
and for which they maintain an account and perform services at the expense of
the U.S. Treasury, and that they will likewise confer benefits upon the Bank of
International Settlements for which they maintain an account and perform
services at the expense of the U.S. Treasury; and
"Whereas I charge them,
jointly and severally, with having concealed the insolvency of the Fed and with
having failed to report the insolvency of the Fed to the Congress and with
having conspired to have the said insolvent institutions continue in operation,
and with having permitted the said insolvent institutions to receive U.S.
Government funds and other deposits, and with having permitted them to exercise
control over the gold reserves of the U.S. and with having permitted them to
transfer upward of $100,000,000,000 of their debts and losses to the general
public and the Government of the U.S., and with having permitted foreign debts
of the Fed to be paid with the property, the savings, the wages, and the
salaries of the people of the U.S. and with the farms and the homes of the
American people, and whereas I charge them with forcing the bad debts of the Fed
upon the general public covertly and dishonestly and and with taking the general
wealth and savings of the people of the U.S. under false pretenses, to pay the
debts of the Fed to foreigners; and
"Whereas I charge them, jointly and
severally, with violations of the Fed Act and other laws; with maladministration
of the h evasions of the Fed Law and other laws; and with having unlawfully
failed to report violations of law on the part of the Fed Banks which, if known,
would have caused the Fed Banks to lose their charters, and
"Whereas I
charge them, jointly and severally, with failure to protect and maintain the
gold reserves and the gold stock and gold coinage of the U.S. and with having
sold the gold reserves of the U.S to foreign Governments, foreign central banks
of issue, foreign commercial and private banks, and other foreign institutions
and individuals at a profit to themselves, and I charge them with having sold
gold reserves of the U.S. so that between 1924 and 1928 the U.S. gained no gold
on net account but suffered a decline in its percentage of central gold reserves
from the 45.9 percent in 1924 to 37.5 percent in 1928 notwithstanding the fact
that the U.S. had a favorable balance of trade throughout that period,
and
"Whereas I charge them, jointly and severally, with having conspired
to concentrate U.S. Government securities and thus the national debt of the U.S.
in the hands of foreigners and international money lenders and with having
conspired to transfer to foreigners and international money lenders title to and
control of the financial resources of the U.S.; and
"Whereas I charge
them, jointly and severally, with having fictitiously paid installments on the
national debt with Government credit unlawfully taken; and
"Whereas I
charge them, jointly and severally, with the loss of the U.S. Government funds
entrusted to their care; and
"Whereas I charge them, jointly and
severally, with having destroyed independent banks in the U.S. and with having
thereby caused losses amounting to billions of dollars to the said banks, and to
the general public of the U.S., and
"Whereas I charge them, jointly and
severally, with the failure to furnish true reports of the business operations
and the true conditions of the Fed to the Congress and the people, and having
furnished false and misleading reports to the congress of the U.S.,
and
"Whereas I charge them, jointly and severally, with having published
false and misleading propaganda intended to deceive the American people and to
cause the U.S. to lose its independence; and
"Whereas I charge them,
jointly and severally, with unlawfully allowing Great Britain to share in the
profits of the Fed at the expense of the Government and the people of the U.S.;
and
"Whereas I charge them, jointly and severally, with having entered
into secret agreements and illegal transactions with Montague Norman, Governor
of the Bank of England; and
"Whereas I charge them, jointly and
severally, with swindling the U.S. Treasury and the people of the U.S. in
pretending to have received payment from Great Britain of the amount due on the
British ware debt to the U.S. in December, 1932; and
"Whereas I charge
them, jointly and severally, with having conspired with their foreign principals
and others to defraud the U.S. Government and to prevent the people of the U.S.
from receiving payment of the war debts due to the U.S. from foreign nations;
and
"Whereas I charge them, jointly and severally, with having robbed the
U.S Government and the people of the U.S. by their theft and sale of the gold
reserves of the U.S. and other unlawful transactions created a deficit in the
U.S. Treasury, which has necessitated to a large extent the destruction of our
national defense and the reduction of the U.S. Army and the U.S. Navy and other
branches of the national defense; and
"Whereas I charge them, jointly and
severally, of having reduced the U.S. from a first class power to one that is
dependent, and with having reduced the U.S. from a rich and powerful nation to
one that is internationally poor; and
"Whereas I charge them, jointly and
severally, with the crime of having treasonable conspired and acted against the
peace and security of the U.S. and with having treasonable conspired to destroy
constitutional Government in the U.S.
"Resolve, That the Committee on the
Judiciary is authorized and directed as a whole or by subcommittee, to
investigate the official conduct of the Fed agents to determine whether, in the
opinion of the said committee, they have been guilty of any high crime or
misdemeanor which in the contemplation the Constitution requires the
interposition of the Constitutional powers of the House. Such Committee shall
report its finding to the House, together with such resolution or resolutions of
impeachment or other recommendations as it deems proper.
"For the purpose
of this resolution the Committee is authorized to sit and act during the present
Congress at such times and places in the District of Columbia or elsewhere,
whether or not the House is sitting, has recessed or has adjourned, to hold such
clerical, stenographic, and other assistants, to require of such witnesses and
the production of such books, papers, and documents, to take such testimony, to
have such printing and binding done, and to make such expenditures as it deems
necessary."
After some discussion and upon the motion of Mr. Byrns, the
resolution and charge was referred to the Committee on the
Judiciary.
"Attacks on McFadden's Life Reported"
Commenting on
Former Congressman Louis T. McFaddens's "heart-failure sudden-death" on Oct. 3,
1936, after a "dose" of "intestinal flu," "Pelley's Weekly" of Oct. 14
said:
Now that this sterling American patriot has made the Passing, it
can be revealed that not long after his public utterance against the encroaching
powers of Judah, it became known among his intimates that he had suffered two
attacks against his life. The first attack came in the form of two revolver
shots fired at him from ambush as he was alighting from a cab in front of one of
the Capital hotels. Fortunately both shots missed him, the bullets burying
themselves in the structure of the cab.
"He became violently ill after
partaking of food at a political banquet at Washington. His life was only saved
from what was subsequently announced as a poisoning by the presence of a
physician friend at the banquet, who at once procured a stomach pump and
subjected the Congressman to emergency treatment." /s/ Robert Edward Edmondson
(Publicist-Economist)
President Andrew Jackson stated in reference to the
bankers at the state of his administration:
"You are a den of vipers and
thieves. I intend to rout you out, and by the Eternal God, I will rout you
out."