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.Lehman Brothers has mergedwith Kuhn, Loeb Company, First National Bank has merged with theNational City Bank, and in the other eleven Federal Reserve Districts,these same shareholders indirectly own or control shares in thosebanks, with the other shares owned by the leading families in thoseareas who own or control the principal industries in these regions.* The"local" families set up regional councils, on orders from New York, ofsuch groups as the Council on Foreign Relations, The TrilateralCommission, and other instruments of control devised by their masters.They finance and control political developments in their area, namecandidates, and are seldom successfully opposed in their plans.With the setting up of the twelve "financial districts" through the FederalReserve Banks, the traditional division of the United States into the forty-eight states was overthrown, and we entered the era of "regionalism",or twelve regions which had no relation to the traditional stateboundaries.These developments following the passing of the Federal Reserve Actproved every one of the allegations Thomas Jefferson had madeagainst a central bank in 1791: that the subscribers to the Federal62 Reserve Bank stock had formed a corporation, whose stock could beand was held by aliens; that this stock would be transmitted to acertain line of successors; that it would be placed beyond forfeitureand escheat; that they would receive a monopoly of banking, whichwas against the laws of monopoly; and that they now had the powerto make laws, paramount to the laws of the states.No state legislaturecan countermand any of the laws laid down by the Federal ReserveBoard of Governors for the benefit of their private stockholders.Thisboard issues laws as to what the interest rate shall be, what thequantity of money shall be and what the price of money shall be.All ofthese powers abrogate the powers of the state legislatures and theirresponsibility to the citizens of those states.The New York Times stated that the Federal Reserve Banks would beready for business on August 1, 1914, but they actually beganoperations on November 16, 1914.At that time, their total assets werelisted at $143,000,000, from the sale of shares in the Federal ReserveBanks to stockholders of the national banks which subscribed to it.The actual part of this $143,000,000 which was paid in for these sharesremains shrouded in mystery.Some historians believe that theshareholders only paid about half of the amount in cash; othersbelieve__________________________See charts V through IX35that they paid in no cash at all, but merely sent in checks which theydrew on the national banks which they owned.This seems most likely,63 that from the very outset, the Federal Reserve operations were "paperissued against paper", that bookkeeping entries comprised the onlyvalues which changed hands.The men whom President Woodrow Wilson chose to make up the firstFederal Reserve Board of Governors were men drawn from thebanking group.He had been nominated for the Presidency by theDemocratic Party, which had claimed to represent the "common man"against the "vested interests".According to Wilson himself, he wasallowed to choose only one man for the Federal Reserve Board.Theothers were chosen by the New York bankers.Wilson s choice wasThomas D.Jones, a trustee of Princeton and director of InternationalHarvester and other corporations.The other members were Adolph C.Miller, economist from Rockefeller s University of Chicago andMorgan s Harvard University, and also serving as Assistant Secretary ofthe Interior; Charles S.Hamlin, who had served previously as anAssistant Secretary to the Treasury for eight years; F.A.Delano, aRoosevelt relative, and railroad operator who took over a number ofrailroads for Kuhn, Loeb Company, W.P.G.Harding, President of theFirst National Bank of Atlanta; and Paul Warburg of Kuhn, LoebCompany.According to The Intimate Papers of Col.House, Warburgwas appointed because "The President accepted (House s) suggestionof Paul Warburg of New York because of his interest and experience incurrency problems under both Republican and DemocraticAdministrations."27 Like Warburg, Delano had also been born outsidethe continental limits of the United States, although he was anAmerican citizen.Delano s father, Warren Delano, according to Dr.Josephson and other authorities, was active in Hong Kong in the64 Chinese opium trade, and Frederick Delano was born in Hong Kong in1863.In The Money Power of Europe, Paul Emden writes that "The Warburgsreached their outstanding eminence during the last twenty years ofthe past century, simultaneously with the growth of Kuhn, LoebCompany in New York, with whom they stood in a personal union andfamily relationship.Paul Warburg with magnificent success carriedthrough in 1913 the reorganization of the American banking system, atwhich he had with Senator Aldrich been working since 1911, and thusmost thoroughly consolidated the currency and finances of the UnitedStates."28__________________________27 Charles Seymour, The Intimate Papers of Col.House, 4 v.1926-1928,Houghton Mifflin Co.28 Paul Emden, The Money Power of Europe in the 19th and 20thCentury, S.Low, Marston Co., London, 193736The New York Times* had noted on May 6, 1914 that Paul Warburg had"retired" from Kuhn, Loeb Company in order to serve on the FederalReserve Board, although he had not resigned his directorships ofAmerican Surety Company, Baltimore and Ohio Railroad, NationalRailways of Mexico, Wells Fargo, or Westinghouse Electric Corporation,but would continue to serve on these boards of directors."Who s Who"listed him as holding these directorships and in addition, American I.G.Chemical Company (branch of I.G [ Pobierz całość w formacie PDF ]
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.Lehman Brothers has mergedwith Kuhn, Loeb Company, First National Bank has merged with theNational City Bank, and in the other eleven Federal Reserve Districts,these same shareholders indirectly own or control shares in thosebanks, with the other shares owned by the leading families in thoseareas who own or control the principal industries in these regions.* The"local" families set up regional councils, on orders from New York, ofsuch groups as the Council on Foreign Relations, The TrilateralCommission, and other instruments of control devised by their masters.They finance and control political developments in their area, namecandidates, and are seldom successfully opposed in their plans.With the setting up of the twelve "financial districts" through the FederalReserve Banks, the traditional division of the United States into the forty-eight states was overthrown, and we entered the era of "regionalism",or twelve regions which had no relation to the traditional stateboundaries.These developments following the passing of the Federal Reserve Actproved every one of the allegations Thomas Jefferson had madeagainst a central bank in 1791: that the subscribers to the Federal62 Reserve Bank stock had formed a corporation, whose stock could beand was held by aliens; that this stock would be transmitted to acertain line of successors; that it would be placed beyond forfeitureand escheat; that they would receive a monopoly of banking, whichwas against the laws of monopoly; and that they now had the powerto make laws, paramount to the laws of the states.No state legislaturecan countermand any of the laws laid down by the Federal ReserveBoard of Governors for the benefit of their private stockholders.Thisboard issues laws as to what the interest rate shall be, what thequantity of money shall be and what the price of money shall be.All ofthese powers abrogate the powers of the state legislatures and theirresponsibility to the citizens of those states.The New York Times stated that the Federal Reserve Banks would beready for business on August 1, 1914, but they actually beganoperations on November 16, 1914.At that time, their total assets werelisted at $143,000,000, from the sale of shares in the Federal ReserveBanks to stockholders of the national banks which subscribed to it.The actual part of this $143,000,000 which was paid in for these sharesremains shrouded in mystery.Some historians believe that theshareholders only paid about half of the amount in cash; othersbelieve__________________________See charts V through IX35that they paid in no cash at all, but merely sent in checks which theydrew on the national banks which they owned.This seems most likely,63 that from the very outset, the Federal Reserve operations were "paperissued against paper", that bookkeeping entries comprised the onlyvalues which changed hands.The men whom President Woodrow Wilson chose to make up the firstFederal Reserve Board of Governors were men drawn from thebanking group.He had been nominated for the Presidency by theDemocratic Party, which had claimed to represent the "common man"against the "vested interests".According to Wilson himself, he wasallowed to choose only one man for the Federal Reserve Board.Theothers were chosen by the New York bankers.Wilson s choice wasThomas D.Jones, a trustee of Princeton and director of InternationalHarvester and other corporations.The other members were Adolph C.Miller, economist from Rockefeller s University of Chicago andMorgan s Harvard University, and also serving as Assistant Secretary ofthe Interior; Charles S.Hamlin, who had served previously as anAssistant Secretary to the Treasury for eight years; F.A.Delano, aRoosevelt relative, and railroad operator who took over a number ofrailroads for Kuhn, Loeb Company, W.P.G.Harding, President of theFirst National Bank of Atlanta; and Paul Warburg of Kuhn, LoebCompany.According to The Intimate Papers of Col.House, Warburgwas appointed because "The President accepted (House s) suggestionof Paul Warburg of New York because of his interest and experience incurrency problems under both Republican and DemocraticAdministrations."27 Like Warburg, Delano had also been born outsidethe continental limits of the United States, although he was anAmerican citizen.Delano s father, Warren Delano, according to Dr.Josephson and other authorities, was active in Hong Kong in the64 Chinese opium trade, and Frederick Delano was born in Hong Kong in1863.In The Money Power of Europe, Paul Emden writes that "The Warburgsreached their outstanding eminence during the last twenty years ofthe past century, simultaneously with the growth of Kuhn, LoebCompany in New York, with whom they stood in a personal union andfamily relationship.Paul Warburg with magnificent success carriedthrough in 1913 the reorganization of the American banking system, atwhich he had with Senator Aldrich been working since 1911, and thusmost thoroughly consolidated the currency and finances of the UnitedStates."28__________________________27 Charles Seymour, The Intimate Papers of Col.House, 4 v.1926-1928,Houghton Mifflin Co.28 Paul Emden, The Money Power of Europe in the 19th and 20thCentury, S.Low, Marston Co., London, 193736The New York Times* had noted on May 6, 1914 that Paul Warburg had"retired" from Kuhn, Loeb Company in order to serve on the FederalReserve Board, although he had not resigned his directorships ofAmerican Surety Company, Baltimore and Ohio Railroad, NationalRailways of Mexico, Wells Fargo, or Westinghouse Electric Corporation,but would continue to serve on these boards of directors."Who s Who"listed him as holding these directorships and in addition, American I.G.Chemical Company (branch of I.G [ Pobierz całość w formacie PDF ]