FINAL
WARNING: A HISTORY OF THE NEW
WORLD ORDER
CHAPTER TWO
CONTROLLING THE MONEY
Napoleon
said: "When a government is dependent for money upon the bankers, they and
not the leaders of the government control the situation, since the hand that
gives is above the hand that takes.... financiers are without patriotism and
without decency..." Karl Marx said in the Communist Manifesto: "Money
plays the largest part in determining the course of history." The
Rothschilds found out early, that when you control the money, you basically
control everything else. So, while their political plans were being thwarted,
they began to concentrate on tightening their grip on the financial structure
of the world.
In the
mid 1700's the Colonies were prospering because they were issuing their own
money, called Colonial Scrip, which was strictly regulated, and didn't require
the payment of any interest. When the bankers in Great Britain heard this, the British Parliament
passed a law prohibiting the currency, forcing them to accept the debt money
issued by them. Contrary to what history teaches, the American Revolution was
not ignited by a tax on tea. According to Benjamin Franklin, it was because
"the conditions were so reversed that the era of prosperity ended."
He said: "The Colonies would gladly have borne the little tax on tea and
other matters had it not been the poverty caused by the bad influence of the English
bankers on the Parliament: which has caused in the Colonies hatred of England and the Revolutionary War."
In 1787,
our new Constitution gave Congress the power to "coin money, (and)
regulate the value thereof (Article 1, Section 8)." After Great Britain tried to destroy and control the
currency of our new country, Congress realized the danger of fiat, or paper
money created by law. In 1775, paper money had been issued to finance the war,
and independent state legislatures passed laws requiring citizens to accept it
as legal tender. Since it was created from nothing, and not backed by any
precious metal, inflation developed. By the end of the war, it took 500 paper
dollars to get one silver dollar. Our forefathers wrote in Article I, Section
10, of the U.S. Constitution: "No State shall enter into any treaty,
alliance or confederation; grant letters of marque and reprisal; coin money;
emit bills of credit; make any thing by gold and silver coin a tender in
payment of debts; pass any bill of attainder, ex post facto law, or law
impairing the obligation of contracts, or grant any title of nobility."
Alexander
Hamilton, an Illuminist, and agent of European bankers, had immigrated to the
colonies in 1772 from the British colony of Nevis, on the Leeward Islands in the British West Indies. He married the daughter of Gen.
Philip Schuyler, one of the most influential families of New York. In 1789 he was appointed Secretary
of the Treasury. Hamilton and Robert Morris successfully convinced the new
Congress not to take this power literally, enabling the Bank of North America
to be established in 1781, which was similar to the Bank of England. At the
time, America had a foreign debt of $12,000 (in
money borrowed from Spain, France, Holland, and private interests in Germany), and a domestic debt of $42,000.
In 1790,
Hamilton, who favored Central Banking, urged the Congress to charter a
privately owned company to have the sole responsibility of issuing currency, in
order to handle the country's financial situation. His Plan called for Congress
to create a Central Banking system, with a main office in Philadelphia, and smaller branches located in
important cities throughout the country. It would be used to deposit government
funds and tax collections, and to issue bank notes to increase the money supply
needed to finance the country's growth. This Bank of the United States would have a capital stock plan of
$10 million, with 4/5's to be owned by private investors, and 1/5 by the U.S.
Government. It would be administered by a President, and 25 Board of Directors,
with 20 to be elected by the stockholders, and 5 appointed by the government.
Central
Banking was initiated by international banker William Paterson in 1691, when he
obtained the Charter for the Bank of England, which put the control of England's money in a privately owned
company who had the right to issue notes payable on demand against the security
of bank loans to the crown. One of their first transactions was to loan 1.2
million pounds at 8% interest to William of Orange to help the king pay the
cost of his war with Louis XIV of France. Paterson said: "The bank hath benefit
of interest on all monies which it creates out of nothing." Reginald
McKenna, British Chancellor of the Exchequer(or Treasury), said 230 years
later: "The banks can and do create money...And they who control the
credit of the nation direct the policy of governments and hold in the hollow of
their hands the destiny of the people."
Hamilton's elitist views, and real purpose
for wanting Central Banking came to light, when he wrote: "All communities
divide themselves into the few and the many. The first are rich and well-born,
the other the mass of the people. The people are turbulent and changing; they
seldom judge or determine right."
In 1791,
Jefferson said: "To preserve our
independence, we must not let our rulers load us with perpetual debt. If we run
into such debts, we (will then) be taxed in our meat and our drink, in our
necessities and in our comforts, in our labor and in our amusements. If we can
prevent the government from wasting the labor of the people under the pretense
of caring for them, they (will) be happy." Even though Thomas Jefferson,
and James Madison(later to be our 4th President, 1809-17) opposed the Bill, Washington signed it into law on February
25, 1791,
Alexander Hamilton became a very rich man. He and Aaron Burr helped establish
the Manhattan Co. in New York City, which developed into a very
prosperous banking institution. It would later be controlled by Warburg-Kuhn-Loeb
interests, and in 1955 it merged with Rockefeller's Chase Bank to create the
Chase Manhattan Bank.
When Jefferson(1801-09) became President, he
opposed the bank as being unconstitutional, and when the 20 year charter came
up for renewal in 1811, it was denied. Nathan Rothschild, head of the Bank of
England, had recognized America's potential, and made loans to a
few states, and in fact became the official European banker for the U.S.
Government. Because he supported the Bank of the United States, he threatened: "Either the
application for renewal of the Charter is granted, or the United States will find itself in a most
disastrous war"; he then ordered British troops to: "Teach these
impudent Americans a lesson. Bring them back to Colonial status." This
brought on the War of 1812, our second war with England, which facilitated the
re-chartering of the Bank of the United States. The war raised our national debt
from $45 million to $127 million.
Jefferson wrote to James Monroe (who later served as our 5th President, 1817- 25)
in January, 1815: "The dominion which the banking institutions have
obtained over the minds of our citizens...must be broken, or it will break
us." In 1816, Jefferson wrote to John Tyler(who became our 10th President,
1841-45): "If the American people ever allow private banks to control the
issuance of their currency, first by inflation, and then by deflation, the
banks and the corporations that will grow up around them will deprive the
people of all property until their children wake up homeless on the continent
their father's conquered...I believe that banking institutions are more
dangerous to our liberties than standing armies...The issuing power should be
taken from the banks and restored to the Government, to whom it properly belongs."On
May 10, 1816, President James Madison signed the Bill which created the
second Bank of the United States. Inflation, heavy debt, and the
unavailability of an entity to collect taxes, were some of the reasons given
for its rechartering. The new charter allowed it to operate another 20 years,
raised its capital stock to $35 million, authorized the creation of bank
branches, and the issuing of notes with denominations no smaller than $5.00.
The new bank now had the power "to control the entire fiscal structure of
the country." The bank was run by the Illuminati, through such
international banker "front men" as John Jacob Astor, Stephen Girard,
and David Parish(a Rothschild agent for the Vienna branch of the family).
In 1819,
the Bank was declared constitutional by Supreme Court Justice John Marshall (a
Mason), who said that Congress had the implied power to create the Bank.
People
began to see how much power the Bank really had, and the voter backlash led to
the election of Andrew Jackson as President in 1828. His slogan was: "Let
the people rule." Jackson maintained: "If Congress has
the right under the Constitution to issue paper money, it was given them to be
used by themselves, not to be delegated to individuals or to
corporations." Jackson said that the control of a central
bank "would be exercised by a few over the political conduct of the many
by first acquiring that control over the labor and earnings of the great body
of people." During the 1828 Presidential campaign, Jackson said in an address before a group
of bankers: "You are a den of vipers. I intend to rout you out and by the
Eternal God I will rout you out." He went on to say: "If the people
only understood the rank injustice of our Money and Banking system, there would
be a revolution before morning." Jackson said that if such a Bank would
continue to control "our currency, receiving our public monies, and
holding thousands of our citizens in dependence, it would be more formidable
and dangerous than the naval and military power of the enemy..."
After
fiscal mismanagement by its first President, former Secretary of the Navy,
Captain William Jones, the Bank was forced to call in loans and foreclosed on
mortgages, which caused bankruptcy, a price collapse, unemployment and a depression.
However, the Bank began to flourish under its new President, financier Nicholas
Biddle(1786-1844), who petitioned the Congress for a renewal of the Bank's
Charter in 1832, four years before its current charter expired. The Bill for
the new Charter passed the Senate, 28-20, and the House 107-85, and everyone
knew how Jackson felt. Biddle threatened: "Should Jackson veto it, I shall veto him!" Jackson did veto the Charter, and abolished
the Bank in 1832. He ordered the Secretary of the Treasury to remove all
Government deposits from U.S. Banks and deposit them in state banks. On January
8, 1835, Jackson paid off the final installment on
our national debt, and it was the only time in history that our national debt
was reduced to zero, and we were able to accumulate a surplus, $35 million of
which was distributed to the States. Nicholas P. Trist, the President's
personal secretary, said: "This is the crowning glory of A.J.'s life and
the most important service he has ever rendered his country." The Boston
Post compared it to Christ throwing the money-changers out of the Temple.
James K.
Polk, the Speaker of the House (who later became the 11th President in 1845)
said: "The Bank of the United States has set itself up as a great
irresponsible rival power of the government."
The Bank
continued to operate until 1836, and it was used by Biddle to wreak havoc upon
the economy by reducing loans and increasing the quantity of money. Jackson became the first President of the United States to be censured, which was done in
March, 1834, "for removing the government's deposits from the Bank of the United States without the express authorization
of the United States Congress." It is quite obvious that he did it because
of the "abuses and corruptions" of the Bank, and the censure was
later reversed by the Senate in 1837. The Bankers continued their attempts to
revive the Bank. President John Tyler vetoed two bills in 1841 that would have
re-chartered the Bank of the United States.
In 1837,
the Rothschilds sent another of their agents to America. His name was August Belmont(real
name, August Schonberg, a cousin of the Seligman family of Frankfurt, Germany). In 1829, as a 15 year-old, he
started working for the bank in Frankfurt, and proved himself to be a financial genius. In 1832, he
was promoted to the Bank at Naples, so he could be fully integrated
into international banking. He became fluent in English, French, and Italian.
His mission was to stir up financial trouble within the southern banks. He ran
a bank in New York City, and established himself as a leading figure in
financial circles by buying government bonds, and later became a financial
advisor to the President.
In 1857,
the Illuminati met in London to decide America's fate. They had to create an
incident which would allow the establishment of a Central Bank, and that had to
be a war, since wars are expensive, and governments have to borrow to pay for
them. Canada and Mexico, weren't strong enough, as
evidenced by Santa Anna's defeat in Texas the year before; England and France were too far away, and Russia wasn't under their control; so they
decided to "divide and conquer", by fermenting a conflict between the
North and the South. The North was to become a British Colony, annexed to Canada, and controlled by Lionel
Rothschild; while the South was to be given to Napoleon III of France, and
controlled by James Rothschild.
In order
to begin a movement that would lead to the secession of the South from the
Union, the Illuminati used the Knights of the Golden Circle, which had been
formed in 1854 by George W. L. Bickley, to spread racial tension from state to
state, using slavery as an issue. War-time members included Jefferson Davis,
John Wilkes Booth and Jesse James(1847-1882, a Mason, who after stealing gold from
banks and mining companies, buried nearly $7 billion of it all over the western
states in hopes of funding a second Civil War). The Ku Klux Klan, formed in
1867, were the military arm of the Knights. The states which seceded, united
into the Confederate States of America, which meant they maintained their
independence, and that if the South would win, each state would be like an
independent country.
Abraham
Lincoln informed the people that "combinations too powerful to be
suppressed by the ordinary machinery of peacetime government had assumed
control of various southern states." He had coastal ports blockaded to
keep supplies from being shipped in from Europe.
The
Rothschilds financed the North through emissaries August Belmont, Jay Cooke(who
was commissioned to sell bond issues, arranging with Belmont to sell Union bonds in Europe), J. and W. Seligman and Company,
and Speyer & Co.
Judah P.
Benjamin(l811-84) of the law firm of Slidell, Benjamin and Conrad, in Louisiana, was a Rothschild agent, who became
Secretary of State for the Confederacy in 1862. His law partner, John Slidell
(August Belmont's wife's uncle) was the Confederate envoy to France. Slidell's daughter was married to Baron
Frederick D'Erlanger, in Frankfurt, who were related to the Rothschilds, and acted on their
behalf. Slidell was the representative of the South who borrowed money from
the D'Erlangers to finance the Confederacy.
Towards
the end of 1861, England sent 8,000 troops to Canada, and in 1862, English, French and
Spanish troops landed at Veracruz, Mexico, supposedly to collect on debts
owed them by Mexico. In April, 1861, the Russian
Ambassador to America had advised his government: "England will take advantage of the first
opportunity to recognize the seceded states and that France will follow her." On June
10, 1863,
French General Elie-Frederic Forey, with the help of 30,000 additional French
troops, took over Mexico City, and controlled most of the
country. Through his representatives in Paris and London, Czar Alexander II in Russia discovered that the Confederates
had offered the states of Louisiana and Texas to Napoleon III, if he would send
his troops against the North. Russia had already indicated their support
for Lincoln, but wanted something more to send
their large navy to defend the country. On January 1, 1863, as a gesture of goodwill, Lincoln issued his Emancipation
Proclamation to free the slaves, just as the Czar had done with the serfs in
1861.
On September
8, 1863, at
the request of President Lincoln and Secretary of State William H. Seward,
Alexander sent the Russian fleet to San Francisco and New York, and ordered them "to be ready
to fight any power and to take their orders only from Abraham Lincoln."
Lincoln said: "The privilege of
creating and issuing money is not only the supreme prerogative of Government,
but is the Government's greatest creative opportunity. By the adoption of these
principles, the taxpayers will be saved immense sums of interest." On
February and March, 1862, and March 1863, Lincoln received Congressional approval to
borrow $450 million from the people by selling them bonds, or
"greenbacks", to pay for the Civil War. They were not redeemable
until 1865, when three could be exchanged for one in silver. They were made
full legal tender in 1879. Thus, Lincoln solved America's monetary crisis without the help
of the International Bankers. The London Times later said of Lincoln's greenbacks: "If that
mischievous financial policy which had its origin in the North America Republic during the late war in that
country, should become indurate down to a fixture, then that Government will
furnish its own money without cost. It will pay off its debts and be without
debt. It will become prosperous beyond precedent in the history of the
civilized governments of the world. The brains and wealth of all countries will
go to North
America.
That government must be destroyed or it will destroy every monarchy on the
globe." Bismarck, the German Chancellor, said in 1876 about Lincoln: "He obtained from Congress the
right to borrow from the people by selling to it the 'bonds' of States...and
the Government and the nation escaped the plots of the foreign financiers. They
understood at once, that the United States would escape their grip. The death
of Lincoln was resolved upon."
Before
the Lincoln administration, private commercial
banks were able to issue paper money called state bank notes, but that ended
with the National Banking Act of 1863, which prohibited the states from
creating money. A forerunner of the Federal Reserve Act, it began the movement
to abolish redeemable currency. A system of private banks were to receive
charters from the federal government which would give them the authorization to
issue National Bank Notes. This gave banks the power to control the finances
and credit of the country, and provided centralized banking, under Federal
control, in times of war. The financial panic created by the International
Bankers, destroyed 172 State Banks, 177 private banks, 47 savings institutions,
13 loan and trust companies, and 16 mortgage companies.
Salmon
P. Chase, Secretary of the Treasury(l861-64) under Lincoln, publicly said that his role
"in promoting the passage of the National Banking Act was the greatest
financial mistake of my life. It has built up a monopoly which affects every
interest in the country. It should be repealed, but before that can be
accomplished, the people will be arrayed on one side and the bankers on the
other, in a contest such as we have never seen before in this country."
Lincoln said: "The money power preys
upon the nation in times of peace and conspires against it in times of
adversity. It is more despotic than monarchy, more insolent than autocracy,
more selfish than bureaucracy. I see in the near future a crisis approaching
that unnerves me and causes me to tremble for the safety of my country.
Corporations have been enthroned, an era of corruption in high places will
follow, and the money power of the country will endeavor to prolong its reign
by working upon the prejudices of the people until the wealth is aggregated in
the hands of a few and the Republic is destroyed...I feel at the moment more
anxiety for the safety of my country than ever before, even in the midst of
war."
On April
14, 1865, Lincoln was shot by John Wilkes Booth, and
that same evening, an unsuccessful attempt by his fellow conspirators was made
on the life of Seward. In 1866, an attempt was made to assassinate Czar
Alexander II, and in 1881, the Czar was killed by an exploding bomb.
In
Booth's trunk, coded messages were found, and the key to that code was found
among the possessions of Judah Benjamin. Benjamin had fled to England, where he died. It was always known
that Lincoln's death was the result of a massive conspiracy. However,
nobody realized how deep and far reaching it was. In 1974, researchers found
among the papers of Edwin M. Stanton, Lincoln's Secretary of War, letters
describing the conspiracy cover-up, that were written to Stanton, or intercepted by him. They also
found the 18 pages that were removed from Booth's diary, which revealed the
names of 70 people(some in code) who were directly or indirectly involved in
Booth's original plan to kidnap Lincoln. Besides Stanton's involvement in
the conspiracy, Charles A. Dana, Assistant Secretary of War(and member of the
Illuminati); and Major Thomas Eckert, Chief of the War Department's Telegraph
Office, were also involved.
Journals
and coded papers by Colonel Lafayette C. Baker, Chief of the National Detective
Police, detailed Lincoln's kidnap and assassination
conspiracy, and subsequent cover-up. The plot included a group of Maryland
farmers; a group of Confederates including Jefferson Davis (President of the
Confederacy) and Judah Benjamin (the Confederate Secretary of War and Secretary
of State); a group of Northern Banking and Industrial interests, including Jay
Cooke (Philadelphia financier), Henry Cooke (Washington, DC banker), Thurlow
Weed (New York newspaper publisher); and a group of Radical Republicans who
didn't want the south reunited with the North as states, but wanted to control
them as military territories, and included Sen. Benjamin Wade of Ohio, Sen.
Zechariah Chandler of Michigan, and Sen. John Conness of California. All of
these groups pooled their efforts, and used actor John Wilkes Booth, a
Confederate patriot. The original plan called for the kidnapping of Lincoln,
Vice-President Andrew Johnson, and Secretary of State Seward. The National
Detective Police discovered their plans, and informed Stanton. Planned for January
18, 1865,
the kidnap attempt failed.
Captain
James William Boyd, a secret agent for the Confederacy, and a prisoner of war
in the Old Capitol Prison, was used by the National Detective Police to report
on the activities of the prisoners, and to inform on crooked guards. He looked
similar to Booth, and ironically, had the same initials. Stanton had him released, and Boyd took
over the Northern end of the conspiracy, which had been joined by the Police
and the War Department. The North wanted to kill Lincoln, while Booth wanted to kidnap him
and use him as leverage to get Confederate prisoners of war released.
Booth
failed twice in March, and then ended up shooting Lincoln at Ford's Theater. Boyd, warned
that he could get implicated, planned to flee to Maryland. He was blamed for attacking
Seward, which he didn't. Boyd was the one who was shot at Garrett's farm, and
identified as Booth. The Police and Stanton discovered that it was really Boyd,
after it was announced to the nation that it was Booth. The only picture taken
of Boyd's dead body was found in Stanton's collection. The body was taken by
Col. Lafayette Baker, to the old Arsenal Penitentiary, where it was buried in
an unknown place, under the concrete floor.
Baker
and Detectives Luther and Andrew Potter, knew the case wasn't closed, and had
to find Booth to keep him from talking. They followed his trail to New York, and later to Canada, England and India. He allegedly faked his death and
returned to the United States, where in Enid, Oklahoma, he revealed his true identity on
his deathbed. The mortician who was summoned, instead of burying the corpse,
had it preserved, and it is still in existence today.
Baker
broke off relations with Stanton, who was discharged from the Army, and as head
of the Secret Service in 1866. In 1867, in his book, the History of the U.S.
Secret Service, he admitted delivering Booth's diary to Stanton, and on another occasion, testified
that the diary was intact when it was in his possession. This means that Stanton did remove the pages to facilitate
a cover-up, because the pages were found in his collection.
Andrew
Johnson, who became President, issued the Amnesty Proclamation on May
29, 1865,
to reunite the country. It stipulated that the South would not be responsible
for the debt incurred, that all secession laws were to end, and that slavery
was to be abolished. Needless to say, the Rothschilds, who heavily funded the
south, lost a lot of money. In addition, the cost of the support of the Russian
fleet cost the country about $7.2 million. Johnson didn't have the
constitutional authority to give money to a foreign government, so arrangements
were made to purchase Alaska from the Russians in April, 1867.
It was labeled as "Seward's Folly" because it appeared that Seward
purchased what was then a worthless piece of land, when in fact it was
compensation for the Russian Navy. In August, 1867, Johnson, failed in an
attempt to remove Stanton from office, and impeachment
proceedings were begun against him in February, 1868, by Stanton and the
Radical Republicans. Johnson was charged with attempting to fire Stanton without Senate approval, for
treason against Congress, and public language "indecent and
unbecoming" as the nation's leader.
Sen.
Benjamin F. Wade, President pro tempore of the Senate, next in the line of
Presidential succession, was so sure that Johnson would be impeached, that he
already had his Cabinet picked. Stanton was to be his Secretary of
Treasury. The May 26th vote was 35-19, one short of the necessary two-thirds
needed to impeach Johnson.
Col.
Lafayette Baker, who threatened to reveal the conspiracy, was slowly poisoned
till he died in 1868.
President
James A. Garfield, our 20th President, also realized the danger posed by the
bankers and said: "Whoever controls the money of a nation, controls that
nation." He was assassinated in 1881, during the first year of his
Presidency.
In 1877,
in Lampasas
County, Texas, a group of farmers formed a group
called the Knights of Reliance, who were concerned about the financial power
being "concentrated into the hands of a few." Later renamed the
Farmers Alliance, it spread to 120 chapters throughout Texas, and by 1887 the movement stretched
up to the Dakotas, and as far east as the Carolinas. By the time 1890 rolled around,
this Populist philosophy had succeeded in establishing itself, and they had
elected governors and congressmen.
They
advocated a progressive income tax; for railroads, communications, and
corporations to be regulated by the Federal government; the right to establish
labor unions; and government mediation to stabilize falling commodity prices
and the initiation of credit programs. They were against the gold standard, and
the country's private banking system, which was centered at Wall Street. They
were impressed with Lincoln's "greenbacks", because
of its ability to adapt in order to meet the credit needs of the economy. They
wanted the money supply to be controlled by their elected representatives, and
not the money interests of Wall Street. They created the People's Party, and
ran their own independent presidential candidate in 1892. And in 1896, they
hitched their wagon to the campaign of Democrat William Jennings Bryan, who
lost to McKinley, effectively ending the Populist movement.
This
political movement created the initial stirrings for what eventually became the
Federal Reserve Act.
THE
FEDERAL RESERVE ACT
The end
of the Civil War in 1865, ruined the Illuminati's chances to control our monetary
system, as they did in most European countries. So, the Rothschilds modified
their plan for financial takeover. Instead of tearing down from the top, they
were going to start at the bottom to disrupt the foundation of our monetary
system. The instrument of this destruction was a young immigrant by the name of
Jacob Schiff.
The
Schiff family traced their lineage back to the fourteenth century, and even
claimed that King Solomon was an ancestor. Jacob Schiff was born in 1847, in Frankfurt, Germany. His father, Moses Schiff, a rabbi,
was a successful stockbroker on the Frankfurt Stock Exchange. In 1865, he came
to America, and in 1867, formed his own
brokerage firm with Henry Budge and Leo Lehmann. After it failed, he went back
to Germany, and became manager of the Deutsche
Bank in Hamburg, where he met Moritz Warburg(1838-1910), and Abraham Kuhn,
who had retired after helping to establish the firm of Kuhn & Loeb in New York.
Kuhn and
Loeb were German Jews who had come to the United States in the late 1840's, and pooled
their resources during the 1850's to start a store in Lafayette, Indiana, to serve settlers who were on
their way to the West. They set up similar stores in Cincinnati and St. Louis. Later, they added pawn broking and
money lending to their business pursuits. In 1867, they established themselves
as a well-known banking firm.
In 1873,
at the age of 26, Jacob Schiff, with the financial backing of the Rothschilds,
bought into the Kuhn and Loeb partnership in New York City. He became a full partner in 1875.
He became a millionaire by financing railroads, developing a proficiency at
railroad management that enabled him to enter into a partnership with Edward
Henry Harriman to create the greatest single railroad fortune in the world. He
married Solomon Loeb's oldest daughter, Theresa, and eventually bought out
Kuhn's interest. For all intents and purposes, he was the sole owner of what
was now known as Kuhn, Loeb and Company. Sen. Robert L. Owen of Oklahoma indicated that Kuhn, Loeb and
Company was a representative of the Rothschilds in the United States.
Although
John Pierpont Morgan (l837-1913), the top American Rothschild representative,
was the head of the American financial world, Schiff was rapidly becoming a
major influence by distributing desirable European stock and bond issues during
the Industrial Revolution. Besides Edward H. Harriman's railroad empire, he
financed Standard Oil for John D. Rockefeller (1839-1937), and Andrew
Carnegie's (1835-1919) steel empire. By the turn of the century, Schiff was
firmly entrenched in the banking community, and ready to fulfill his role as
the point man in the Illuminati's plan to control our economic system, weaken
Christianity, create racial tension, and to recruit members to get them elected
to Congress and appointed to various government agencies.
In 1636,
Miles, John, and James Morgan landed in Massachusetts, leaving their father, William, to
carry on the family business of harness-making in England. Joseph Morgan(J. P. Morgan's
grandfather), successful in real estate and business, supported the Bank of the
United States. Junius Spencer Morgan (J. P.
Morgan's father), was a partner in the Boston banking firm of J. M. Beebe,
Morgan, and Co.; and became a partner in London's George Peabody and Co.,
taking it over when Peabody died, becoming J. S. Morgan and Co.
John
Pierpont Morgan, or as he was better known, J. P. Morgan, was born on April
17, 1837.
He became his father's representative in New York in 1860. In 1862, he had his own
firm, known as J. Pierpont Morgan and Co. In 1863, he liquidated, and became a
partner with Charles H. Dabney(who represented George Peabody and Co.), and
established a firm known as Dabney, Morgan and Co. He later teamed up with
Anthony J. Drexel(son of the founder of the most influential banking house in Philadelphia), in a firm known as Drexel, Morgan
and Co. Morgan also became a partner in Drexel and Co. in Philadelphia. In 1869, Morgan and Drexel met
with the Rothschilds in London, and through the Northern
Securities Corporation, began consolidating the Rothschild's power and
influence in the United States. Morgan continued the partnership
that began when his father acted as a joint agent for the Rothschilds and the U. S. government.
During
the Civil War, J. P. Morgan had sold the Union Army defective carbine rifles,
and it was this government money that helped build his Guaranty Trust Co. of
New York. In 1880, he began financing and reorganizing the railroads. After his
father died in 1890, and Drexel died in 1893, the Temporary National Economic
Committee revealed that J. P. Morgan held only a 9.1% interest in his own firm.
George Whitney owned 1.9%, and H. B. Davison held 1.2%, however, the Charles W.
Steele Estate held 36.6%, and Thomas W. Lamont(whose son, Corliss Lament, was
an active communist) had 34.2%. Researchers believe that the Illuminati
controlled the company through these shares.
In 1901,
Morgan bought out Andrew Carnegie's vast steel operation for $500,000,000 to
merge the largest steel companies into one big company known as the United
States Steel Corporation(in which, for a time, the Rockefellers were major
stockholders).
A speech
by Senator Norris which was printed in the Congressional Record of November
30, 1941,
said: "J. P. Morgan, with the assistance and cooperation of a few of the
interlocking corporations which reach all over the United States in their influence, controls every
railroad in the United States. They control practically every
public utility, they control literally thousands of corporations, they control
all of the large insurance companies. Mr. President, we are gradually reaching
a time, if we have not already reached that point, when the business of the
country is controlled by men who can be named on the fingers of one hand, because
those men control the money of the Nation, and that control is growing at a
rapid rate."
The
House of Morgan grew larger in 1959, when the Guaranty Trust Co. of New York
merged with the J. P. Morgan and Co., to form the Morgan Guaranty Trust Co.
They have four branch offices, and foreign offices in London, Paris, Brussels, Frankfurt, Rome, and Tokyo. The firm of Morgan, Stanley, and
Co. is also under their control.
Paul
Moritz Warburg(1868-1932), and his brother Felix(1871-1937), came to the United States from Frankfurt in 1902, buying into the
partnership of Kuhn, Loeb and Co. with the financial backing of the
Rothschilds. They had been trained at the family banking house, M. M. Warburg
and Co.(run by their father Moritz M. Warburg, 1838-1910), a Rothschild-allied
bank in Frankfurt, Hamburg, and Amsterdam, which had been founded in 1798 by
their great-grandfather. Paul (said to be worth over $2.5 million when he
died), married Nina Loeb, the daughter of Solomon Loeb(the younger sister of
Schiff's wife); while Felix, in March, 1895, married Frieda Schiff, the
daughter of Jacob Schiff.
Their
brother Max(1867-1946), a major financier of the Russian Revolution (who in his
capacity as Chief of Intelligence in Germany's Secret Service, helped Lenin
cross Germany into Russia in a sealed train) and later
Hitler, ran the Hamburg bank until 1938, when the Nazis took over. The Nazis,
who didn't want the Jews running the banks, changed its name to Brinckmann,
Wirtz and Co. After World War II, a cousin, Eric Warburg, returned to head it,
and in 1970, its name was changed to M. M. Warburg, Brinckmann, Wirtz and Co.
Siegmund
Warburg, Eric's brother, established the banking firm of S. G. Warburg and Co.
in London, and by 1956, had taken over the
Seligman Brothers' Bank.
The
Warburgs are another good example of how the Illuminati controls both sides of
a war. While Paul Warburg's firm of Kuhn, Loeb and Co.(who had five
representatives in the U. S. Treasury Department) was in charge of Liberty Loans,
which helped finance World War I for the United States, his brother Max financed Germany, through M. M. Warburg and Co.
Paul and
Felix Warburg were men with a mission, sent here by the Rothschilds to lobby
for the passing of a central banking law in Congress. Colonel Ely Garrison (the
financial advisor to Presidents Theodore Roosevelt and Woodrow Wilson) wrote in
his book Roosevelt, Wilson and the Federal Reserve
Act: "Mr. Paul Warburg is the man who got the Federal Reserve Act together
after the Aldrich Plan aroused such nationwide resentment and opposition. The
mastermind of both plans was Alfred Rothschild of London." Professor E. R. A. Seligman,
head of the Economics Department of Columbia University, wrote in the preface
of one of Warburg's essays on central banking: "The Federal Reserve Act is
the work of Mr. (Paul) Warburg more than any other man in the country."
In 1903,
Paul Warburg gave Schiff a memo describing the application of the European
central banking system to America's monetary system. Schiff, in turn,
gave it to James Stillman, President of the National City Bank in New York City. Warburg had graduated from the University of Hamburg in 1886, and studied English
central banking methods, while working in a London brokerage house. In 1891, he
studied French banking methods; and from 1892-93, traveled the world to study
central banking applications. The bottom line, was that he was the foremost
authority in the world on central banking. It is interesting to note, that the
fifth plank in the 1848 Communist Manifesto had to do with central banking.
In 1906,
Frank A. Vanderlip, of the National City Bank, convinced many of New York's banking establishment, that they
needed a banker-controlled central bank, that could serve the nation's financial
system. Up to that time, the House of Morgan had filled that role. Some of the
people involved with Morgan were: Walter Burns, Clinton Dawkins, Edward
Grenfell, Willard Straight, Thomas Lament, Dwight Morrow, Nelson Perkins,
Russell Leffingwell, Elihu Root, John W. Davis, John Foster Dulles, S. Parker
Gilbert, and Paul D. Cravath. The financial panics of 1873, 1884, 1893, 1907,
and later 1920, were initiated by Morgan with the intent of pushing for a much
stronger banking system.
On January
6, 1907, the
New York Times published an article by Warburg, called "Defects and Needs
of Our Banking System", after which he became the leading exponent of
monetary reform. That same year, Jacob Schiff told the New York Chamber of
Commerce, that "unless we have a Central Bank with adequate control of
credit resources, this country is going to undergo the most severe and far
reaching money panic in history." When Morgan initiated the economic panic
in 1907, by circulating rumors that the Knickerbocker Bank and Trust Co. of
America was going broke, there was a run on the banks, creating a financial
crisis, which began to solidify support for a central banking system. During
this panic, Warburg wrote an essay called "A Plan for a Modified Central
Bank" which called for a Central Bank, in which 50% would be owned by the
government, and 50% by the nation's banks. In a speech at Columbia University, he quoted Abraham Lincoln, who
said in an 1860 Presidential campaign speech: "I believe in a United
States Bank."
In 1908,
Schiff laid out the final plans to seize the American monetary system. Colonel
(an honorary title) Edward Mandell House(1858-1938), the son of British
financier Thomas W. House, a Rothschild agent who made his fortune by supplying
the south with supplies from France and England during the Civil War, was
Schiff's chief representative and courier; and Bernard Baruch(1870-1965), whose
stock market speculating made him a multi-millionaire by the early 1900's, and
whose foreign and domestic policy expertise led Presidents from Wilson to
Kennedy
to seek his advice; were the two who were relied on heavily by Schiff to carry
out his plans. Herbert Lehman was also a close aide to Schiff.
President
Woodrow Wilson wrote about House (published in The Intimate Papers of Col.
House): "Mr. House is my second personality. He is my independent self.
His thoughts and mine are one. If I were in his place, I would do just as he
suggested...If anyone thinks he is reflecting my opinion, by whatever action he
takes, they are welcome to the conclusion." George Sylvester Viereck wrote
in The Strangest Friendship in History: Woodrow Wilson and Colonel House:
"When the Federal Reserve legislation at last assumed definite shape,
House was the intermediary between the White House and the financiers."
Schiff, who was known as the "unseen guardian angel" of the Federal
Reserve Act, said that the U. S. Constitution was the product of 18th century
minds, was outdated, and should be "scrapped and rewritten."
In 1908,
Sen. Nelson W. Aldrich (father-in-law of John D. Rockefeller, Jr. and
grandfather of Nelson and David Rockefeller) proposed a bill, in which banks,
in an emergency situation, would issue currency backed by federal, state, and
local government bonds, and railroad bonds, which would be equal to 75% of the
cash value of the bonds. It was harshly criticized because it didn't provide a
monetary system that would respond to the seasonal demand, and fluctuate with
the volume of trade. Aldrich was the most powerful man in Congress, and the
Illuminati's head man in the Senate. A member of Congress for 40 years, 36 of
them in the Senate, he was Chairman of the powerful Senate Finance Committee.
In the
House of Representatives, Rep. E. B. Vreeland of New York, proposed the Vreeland Bill. After
making some compromises with Aldrich, and Speaker of the House Joseph Cannon,
at a meeting in a hotel room at the Arlington House, his bill became known as
the Vreeland Substitute. It called for the acceptance of asset currency, but
only in cases of emergency, and the currency would be based on commercial paper
rather than bonds. It passed in the House, 184 -145, but when it got to the
Senate, Aldrich moved against it, and pushed for further compromises. The
Aldrich-Vreeland Bill, called the Emergency Currency Act, was passed on May
30, 1908,
and led to the creation of the National Monetary Commission, which was made up
of members of Congress. Now, any monetary legislation sent to Congress, would
have to go through this group first.
The Bill
approved by the National Monetary Commission was known as the Aldrich Bill, and
formed the legislative base for the Federal Reserve Act. It was introduced as
an amendment to the Republican sponsored Payne-Aldrich Tariff Bill, in order to
have Republican support. It was based on Warburg's plan, except it would only
have 15 districts; half of the directors on the district level would be chosen
by the banks, a third by the stockholders, and a sixth by the other directors.
On the National Board: two chosen by each district; nine chosen by the
stockholders; and seven ex-officio members to be the Governor, Chairman of the
Board, two Deputy Governors, Secretary of the Treasury, Secretary of Commerce
and Labor, Secretary of Agriculture, and Comptroller of the Currency. Most people
were against the Bill, because it finally identified the banking institution as
a central bank, and the Democratic Party opposed it in the 1912 Party platform.
Aldrich
was appointed as head of the National Monetary Commission, and from 1908 -10,
at a cost of $300,000, this 16-man committee traveled around Europe to study the central banking
system.
In 1910,
Warburg gave a speech entitled, "A United Reserve Bank of the United
States", which called for a United Reserve Bank to be located in
Washington, D.C., having the capital of $100 million. The country would be
divided into 20 districts, and the system would be controlled by a Board of
Directors, which would be chosen by the banking associations, the stockholders,
and the government. Warburg said that the U. S. monetary system wasn't flexible,
and it was unable to compensate for the rise and fall of business demand. As an
example, he said that when wheat was harvested, and merchants didn't have the
cash on hand to buy and store a large supply of grain, the farmers would sell
the grain for whatever they could get. This would cause the price of wheat to
greatly fluctuate, forcing the farmer to take a loss. Warburg called for the
development of commercial paper (paper money) to circulate as currency, which
would be issued in standard denominations of uniform sizes. They would be
declared by law to be legal tender for the payment of debts and taxes.
President
Theodore Roosevelt said, concerning the criticism of finding capable men to
head the formation of a central bank: "Why not give Mr. (Paul) Warburg the
job? He would be the financial boss, and I would be the political boss, and we
could run the country together."
After a
conference was held at Columbia University on November
12, 1910,
the National Monetary Cormnission published their plan in the December, 1910
issue of their Journal of Political Economy in an article called, "Bank
Notes and Lending Power."
On November 22, 1910, Aldrich
called a meeting
of the banking establishment and members of the National Monetary Commission,
which was proposed by Henry P. Davison (a partner of J. P. Morgan). Aldrich
said that he intended to keep them isolated until they had developed a
"scientific currency for the United States."
All
those summoned to the secret meeting, were members of the Illuminati. They met
on a railroad platform in Hoboken, New Jersey, where they chartered a private
railroad car owned by Aldrich to Georgia. They were taken by boat, to Jekyll Island, off the coast of Brunswick, Georgia. Jekyll Island is in a group of ten islands,
including St. Simons, Tybee, Cumberland, Wassau, Wolf, Blackbeard, Sapelo,
Ossabow, and Sea
Islands. Jekyll Island was a "hideaway resort of the
rich", purchased in 1888 by J. P. Morgan, Cyrus McCormick, William
Rockefeller (John D. Rockefeller's brother), William K. Vanderbilt, and George
F. Baker (who founded Harvard Business School with a gift of $5 million) for
$125,000 from Eugene du Bignon, whose family owned it for a century. Up until
the time it was converted into a public resort, no uninvited foot ever stepped
on its shores. It was said, that when all 100 members of the Jekyll Island
Hunting Club sat down for dinner at the clubhouse, it represented a sixth of
the world's wealth. St. Simons Island, a short distance away, to the north, was also owned by
Illuminati interests.
Those
attending the meeting at the private hunting lodge, were said to be on a
duck-hunting expedition. They were sworn to secrecy, even addressing each other
by code names or just by their first names. Details are very sketchy,
concerning who attended the meeting, but most scenarios agree that the
following people were present: Sen. Aldrich, Frank A. Vanderlip (Vice-President
of the Rockefeller owned National City Bank), Henry P. Davison (of the J. P.
Morgan and Co.), Abram Piatt Andrew (Assistant Secretary of the Treasury, an
Assistant Professor at Harvard, and Special Assistant to the National Monetary
Commission during their European tour), Paul Moritz Warburg (of Kuhn, Loeb and
Co.), Benjamin Strong (Vice- President of Morgan's Bankers Trust Co.), Eugene
Meyer (a former partner of Bernard Baruch, and the son of a partner in the
Rothschild-owned Lazard Freres, who was the head of the War Finances
Corporation, and later gained control of the Washington Post), J. P. Morgan,
John D. Rockefeller, Col. House, Jacob Schiff, Herbert Lehman (of Lehman
Brothers), Bernard Baruch (appointed by President Wilson to be the Chairman of
the War Industries Board, which gave him control of all domestic contacts for
Allied war materials, which enabled him to make $200 million for himself while
working for the government), Joseph Seligman (a leading Jewish financier, who
founded J. & W. Seligman and Co., who had helped to float bonds during the
Civil War, and were known as "World Bankers", then later declined
President Grant's offer to serve as the Secretary of Treasury), and Charles D.
Norton (President of the First National Bank of New York).
About
ten days later, they emerged with the groundwork for a central banking system,
in the form of, not one, but two versions, to confuse the opposition. The final
draft was written by Frank Vanderlip, from Warburg's notes, and was
incorporated into Aldrich's Bill, in the form of a completed Monetary
Commission report, which Aldrich railroaded through Congress by avoiding the
term "central bank". No information was available on this meeting
until 1933, when the book The Federal Reserve Act: It's Origins and Problems,
by James L. Laughlin, appeared; and other information, which was supplied by B.
C. Forbes, the editor of Forbes Magazine. In 1935, Frank Vanderlip wrote in the
Saturday Evening Post: "I do not feel it is any exaggeration to speak of
our secret expedition to Jekyll Island as the occasion of the actual
conception of what eventually became the Federal Reserve System."
The
banker-initiated mini-depressions, the last of which had occurred in 1907,
helped get Congressional support for the Bill, and on May 11,
1911, the
National Citizens League for the Promotion of a Sound Banking System, an
Illuminati front-organization, publicly announced their support for Aldrich's
Bill. However, the Aldrich Bill was destined for failure, because he was so
closely identified with J. P. Morgan. So, the Illuminati went to Plan B, which
was the second version hammered out at the Jekyll Island summit. The National Citizens
League publicly withdrew their support of the Aldrich Bill, and the move was on
to disguise it, so that it could get through Congress.
Once the
new version was ready, they were a little apprehensive about introducing it in
Congress, because even if it would be passed by Congress, President Taft would
veto it, so they had to wait until they could get their own man elected. That
man was Woodrow Wilson.
The
Democrats, with the exception of Grover Cleveland's election, had been out of
power since 1869. Being a "hungry" Party, the Illuminati found them
easier to infiltrate. During the late 1800's, they began the process of changing
the Democrats from conservative to liberal, and the Republicans, from liberal
to conservative.
Wilson graduated from Princeton University in 1879, studied law at the University of Virginia, and received his doctorate degree
from Johns Hopkins in 1886. He taught Political Science and History at Bryn
Mawr and Wesleyan, and in 1902, became President of Princeton. Because of his
support of Aldrich's Bill, when it was first announced, he was supported by the
Illuminati in his successful bid as Governor of New Jersey in 1910. The deal
was made through Vanderlip agents, William Rockefeller and James Stillman, at
Vanderlip's West
Chester
estate. The liaison between the Illuminati and Wilson, would be his prospective
son-in-law, William G. McAdoo.
Rabbi
Stephen Wise, a leading Jewish activist, told an audience at the Y.M.C.A. in Trenton, New Jersey: "On Tuesday the President of
Princeton University will be elected Governor of your state. He will not
complete his term of office as Governor. In November, 1912, he will be elected
President of the United States. In March, 1917, he will be
inaugurated for the second time as President. He will be one of the greatest
Presidents in American history." Wise, who made this prophetic statement
in 1910, later became a close advisor to Wilson. He had good reason to believe what
he said, because the deal had already been struck. Wilson wasn't viewed as being pro-banking,
and the Democratic Party Platform opposed a Central Bank, which was now linked
to the Republicans and the bankers.
The main
problem of the Democrats, was the Republican voting edge, and the lack of
money. After the Illuminati made the decision to support Wilson, money was no problem. Records
showed that the biggest contributors to Wilson's campaign were Jacob Schiff,
Bernard Baruch, Henry Morgenthau, Sr., Thomas Fortune Ryan (mining magnate),
Sammuel Untermyer, Cleveland H. Dodge(of the National City Bank), Col. George
B. M. Harvey( an associate of J. P. Morgan, and editor of the Morgan-controlled
Harper's Weekly, and President of the Harper and Brothers publishing firm),
William Laffan (editor of the New York Sun), Adolph Ochs (publisher of the New
York Times), and the financiers that owned the New York Times, Charles R.
Flint, Gen. Sam Thomas, J. P. Morgan, and August Belmont. All of these men were
Illuminati members.
The
problem of the voter registration edge was a bit more difficult, but that was a
project that the Illuminati was working on. The Russian pogroms of 1881 and
1882, in which thousands of Russians were killed; and religious persecution and
anti-Semitism in Poland, Romania, and Bulgaria in the early 1890's, began three
decades of immigration into the United States by thousands of Jews. By the turn
of the century, a half-million Jews had arrived to the port cities of New York, Baltimore, and Boston. It was the Democrats who initiated
a program to get them registered to vote. Humanitarian committees were set up
by Schiff and the Rothschilds, such as the Hebrew Immigration Aid Society, and
the B'nai B'rith, so when the Jews arrived, they were made naturalized
citizens, registered Democrat, then shuffled off to other large cities, such as
Chicago, Philadelphia, Detroit and Los Angeles, where they were given financial
help to find a place to live, food, and clothing. This is how the Jews became a
solid Democratic voting bloc, and it was these votes that would be needed to
elect Wilson to the Presidency.
In 1912,
with President William Howard Taft running for re-election against Wilson, the Illuminati needed some
insurance. They got it by urging another Republican, former President, Theodore
Roosevelt (1901-09) to run on the Progressive ticket. Taft had served as Roosevelt's Secretary of War (1905-09), and
was chosen by Roosevelt to succeed him as President. Now, Roosevelt was running again. Advocating the
'New Nationalism', Roosevelt said: "My hat is in the ring...the fight is on and I am stripped
to the buff." Identified as 'anti-business' because of his stand against
corporations and trusts, his proposals for reorganizing the government were
attacked by the
Illuminati-controlled
New
York Times as "super- socialism". His 'Bull Moose' Platform said:
"We are opposed to the so-called Aldrich Currency Bill because its
provisions would place our currency and credit system in private hands, not
subject to effective public control." Frank Munsey and George Perkins, of
the J. P. Morgan and Co. organized, ran, and financed Roosevelt's campaign. A recent example of the
same plan that pulled votes away from Taft, in order to get Wilson elected, occurred in the 1992
Presidential election. In a 1994 interview, Barbara Bush told ABC-TV news
correspondent Barbara Walters, that the third-party candidacy of independent H.
Ross Perot was the reason that Bill Clinton was able to defeat President George
Bush.
The
Illuminati was able to get the support of perennial Democratic Presidential
candidate, William Jennings Bryan, by letting him write the plank of the Party
Platform which opposed the Aldrich Bill. Remember, the second version of the
Bill prepared at Jekyll Island was to be an alternative, so public
attention was turned against the Aldrich Bill. Wilson, an aristocrat, having
socialistic views, was in favor of an independent reserve system, because he
didn't trust the "common men" which made up Congress, however,
publicly, he promised to "free the poor people of America from control by
the rich", and to have a money system that wouldn't be under the control
of Wall Street's International Bankers. In fact, in the summer of 1912, when he
accepted the nomination as the Democratic candidate for the Presidency, he
said: "A concentration of the control of credit...may at any time become
infinitely dangerous to free enterprise." According to the Federal
Reserve's historical narrative, the shift in Wilson's point of view was "a
combination of political realities and his own lack of knowledge about banking
and finance (and) after his election to the Presidency, Wilson relied on others for more expert
advice on the currency question."
Because
of the voting split in the Republican Party, not only was Woodrow Wilson able
to win the Presidency, but the Democrats gained control of both houses in
Congress.
DEMOCRAT
(Wilson) 435 electoral votes 6,286,214 popular votes
PROGRESSIVE
(Roosevelt) 88 electoral votes 4,126,020
popular votes
REPUBLICAN
(Taft) 8 electoral votes 3,483,922 popular votes
Rep.
Carter Glass of Virginia, Chairman of the Banking and
Currency Committee, met with Wilson after his election, along with H.
Parker Willis (who was Dean of Political Science at George Washington University) of the National Citizens League,
to prepare a Bill, known as the Glass Bill, which began taking form in January,
1913. Now Plan B was set into motion. Remember, the National Citizens League,
headquartered in Chicago, had already announced their
opposition to the Aldrich Bill, now the Wall Street banking interests had come
out against the Glass Bill, which was actually the Aldrich Bill in disguise.
The Wall
Street crowd was generally referred to as the "money trust". However,
a 1912 Wall Street Journal editorial said that the
term "money trust" was just a reference to J. P. Morgan. The
suspicion of the "money trust" peaked in 1912, during an
investigation by a House banking subcommittee which revealed that twelve banks
in New
York, Boston, and Chicago, had 746 interlocking directorships
in 134 corporations. Rep. Robert L. Henry of Texas said that for the past five years,
the nation's financial resources had been "concentrated in the city of New York (where they) now dominate more than
75 percent of the moneyed interests of America..." George McC. Reynolds, the
President of the Continental Bank of Chicago, testified: "The money power
now lies in the hands of a dozen men..." The threat from this powerful
private banking system was to be ended with the establishment of a central
bank.
To avoid
the mention of central banking, Wilson himself suggested that the regional
banks be called "Federal Reserve Banks", and proposed a special
session of the 63rd Congress to be convened to vote on the Federal Reserve Act.
On June 23, 1913, he addressed the Congress on the subject of the Federal
Reserve, threatening to keep them in session until they passed it. Wilson got Bryan's support by making him Secretary
of State, and in October, 1913, Bryan said he would assist the President
in "securing the passage of the Bill at the earliest possible
moment."
The
Glass Bill (HR7837) was introduced in the House of Representatives on June
26, 1913.
The revision mentioned nothing about central banking, which was what the people
feared. It was believed that Willis had written the Bill, but it was later
discovered that Professor James L. Laughlin, at the Political Science
Department of Columbia University, had written it, taking special precaution
not to clash with the Bryan plank of the Democratic Party Platform. It was
referred to the Banking and Currency Committee, reported back to the House on
September 9th, and passed on September 18th.
Sen.
Robert Latham Owen of Oklahoma, Chairman of the Senate Banking and
Finance Committee, along with five of his colleagues, drafted a Bill which was
more open-minded to the suggestions of the bankers. A Bill drafted by Sen.
Gilbert M. Hitchcock, a Democrat from Nebraska, called for the elimination of the
"lawful money" provision, and stipulated that note redemption must be
made in gold. It also provided for public ownershi