Foreign Relations 13

71st Congress,
3d Session
House Document
No. 825, Vol. III

Papers Relating to the
Foreign Relations
of the
United States
1930
(In Three Volumes)
Volume III
United States
Government Printing Office Washington: 1945

____________________________________

Informer's Comment:
These are but two pages out of 90 that list all that took place in Vol. III 1930. It does not include Vol. I or Vol. II. It lists 30 countries with which the United States is dealing on treaties, and in all cases banking and loans are appearing in everyone of them. At one point the United States was seriously thinking of taking over Liberia as it had Puerto Rico, the Virgin Islands and such other territories. As you can see there is a wealth of information and it is just too much for me to go into all of it. There are many more books such as these that I have to digest going back to 1910. So, please excuse the shortness of this important information and the fact I had to give the books back to the owner who was so gracious to loan them to me so I could at least get some of this out to you. There is no hint of bankruptcy of the United States at all in any of these papers. Rather it is the bankruptcy of many countries, and the United States, if it was bankrupt, would not be allowing the loans it was authorizing, or would it? It knows it can plunder the people anytime it wants and has done so many, many times.

LIST OF PAPERS

[Unless otherwise specified, the correspondence is from or to officials in the Department of State.]



FINLAND
CONTINUATION OF NEGOTIATIONS FOR AN AGREEMENT REGARDING NATURALIZATION, DUAL NATIONALITY, AND MILITARY SERVICE


Date and Subject Page No.
1930 Mar. 8 (1597) From the Minister in Finland
  Foreign Office note of March 7 (text printed), expressing view of Finnish Government that article I of proposed naturalization treaty conflicts with Finnish nationality law of June 17, 1927.
1
Oct. 8 (17) To the Minister in Finland
  Hope that after further study of operation of Finnish nationality law of 1927, the Finnish Government may find it possible to enter into agreement along lines of the draft treaty.
  (Footnote: Information that convention regulating military obligations of persons having dual nationality Was signed with Finland on January 27, 1939.)
4

FRANCE
NEGOTIATIONS FOR A TREATY BETWEEN THE UNITED STATES AND FRANCE REGARDING DOUBLE TAXATION


1930 Jan. 27 (138)  From the Ambassador in France
  Willingness of French Government to enter into discussion of double taxation problem.
6
Feb. 14 (221)  From the Ambassador in France
  Proposal by French officials for execution of treaty; suggestion that Mr. Mitcheli Carroll, of the Bureau of Internal Revenue, be designated to come to Paris to open negotiations.
7
Apr. 23 (137)  To the Ambassador in France
  Advice that Mr. E. C. Alvord, Special Assistant to the Secretary of the Treasury, Mr. Mitchell B. Carroll, of the Bureau of Internal Revenue, and Professor Thomas S. Adams, of Yale University, will arrive in Paris in the early part of May for exploratory discussions.
8
May 6 (130)  From the Ambassador in France (tel.)
  Arrival of American representatives, who are conferring with American business men and will shortly begin informal negotiations with French authorities.
9
May 13 (158)  To the Ambassador in France
  Tentative draft of double taxation convention (text printed), provisions of which conform to principles of Hawley bill for reduction of international double taxation.
10

XXXII LIST OF PAPERS
IRAQ

GOOD OFFICES TO AMERICAN FIRMS INTERESTED IN ENTERING THE IRAQ OIL FIELDS--Continued


Date and Subject Page No.
1930 Aug. 1 (454) To the Ambassador in Great Britain
  Request for report on progress and outcome of negotiations regarding revision of agreement between Iraq Government and Iraq Petroleum Co.; also any available information concerning reported negotiations of British Oil Development Co. with Iraq Government.
311
Aug. 23 (196) From the Charge' in Great Britain (tel.)
  Understanding that proposals have been made for modification of petroleum convention, terms to be presented to interested American oil group for consideration.
311

(Footnote: Information that two agreements amending Turkish Petroleum Co.’s concession were signed March 24, 1931, and ratified by Iraq Government May 18, 1931.



ITALY
DENIAL BY THE SECRETARY OF STATE OF REPORTS THAT THE UNITED STATES GOVERNMENT, AS A MEANS OF BRINGING. PRESSURE FOR DISARMAMENT, WAS DISAPPROVING LOANS TO ITALY


1930 Dec. 6 Memorandum by the Assistant Secretary of State
  Italian Ambassador's desire that the Secretary make a statement at his press conference denying newspaper rumors that Department has disapproved American loans to Italy.
312
Dec. 8 (108) To the Ambassador in Italy {tel.)
  Instructions to inform Foreign Minister Grandi of Secretary's denial of the press reports in question.
312
Dec. 20 (295) To the Ambassador in Italy
  Advice from Italian Ambassador that denial had received wide Publicity and was satisfactory.
314
1931 Jan. 2 (303) To the Ambassador in Italy
  Memorandum of conversation with Italian Ambassador on December 15, 1930 (text printed), in which he read telegram of thanks from Foreign Minister Grandi for Secretary's action in recent press campaign against Italy.
314

JAPAN
THE EXCLUSION CLAUSE OF THE AMERICAN IMMIGRATION ACT OF MAY 26, 1924


1930 Oct. 30 Memorandum by the Secretary of State

Conversation with Japanese Ambassador, who expressed the desire to take up question of immigration~ unofficially and confidentially, with Assistant Secretary of State Castle; nonobjection of Secretary.



MORE PAPERS

  Now we get to the meat of the problem of the American people. One must remember that the Act of 1920 allowed the Federal Reserve Banks, which are privately run by private owners, to become the fiscal agents of the United States since the Independent Treasury of the States and United States was abolished at the insistence of the money changers. Congress abdicated its position and violated its oath to uphold their Constitution that limited them, and in so doing became a criminal violator. So with all these loans floating to other countries by the private American banks and finance companies and these countries wasting what was loaned to them, you can see why in just two short years (1930 to 1932) the financial institutions were in trouble and needed a bail out because they borrowed from The Feds. The Feds, producing all this credit paper, Federal Reserve Scrip erroneously called Notes, is where all the Financial institutions you just read about got their “money” from. Since the Feds loaned all these debt obligations you have paid for that ever since in income taxes that sop up all these debt obligations.

  Here the progression can be seen in the Presidential Papers of Herbert Hoover and also who was running the country behind the scenes. It was not Congress, that is for sure.

PUBLIC PAPERS OF THE PRESIDENTS
OF THE UNITED STATES
Herbert Hoover

Containing the Public Messages, Speeches, and
Statements of the President
January 1,1933 To March 4, I933

1932-33
The seal does not scan in text


UNITED STATES GOVERNMENT PRINTING OFFICE
WASHINGTON: 1977

Supplement I

  I may add that these matters are dealt with here only in summary form, because it is understood that you are familiar with the results of the discussions that have taken place recently, including the conference that was held Tuesday evening.

 
Respectfully yours,
Eugene Meyer
Governor
____________________________________

[Letter, dated March 2, 1933, from Secretary Mills, follows.]

Dear Mr. President:
  Referring to your personal notes of February 22nd and March 1st, 1933, I have submitted to Mr. Woodin in detail the various phases of the present financial and banking situations and the critical nature of the problems that confront the country and the Government. I emphasized the desire of the Administration to cooperate in every way with the incoming Administration and to facilitate the transfer of the government from the present to the incoming Administration.
  On the occasion of my first conference with him on February 22nd, I pointed out how enormously helpful it would be were Governor Roosevelt willing at once to declare that it would be his policy to take all necessary steps to bring the budget of the Federal Government into balance and to maintain the credit of the Government and to resist all schemes looking to uncontrolled inflation. Again last night, I stated as emphatically as I could that great as are the present difficulties, their solution would be greatly facilitated by a clean-cut declaration along these lines in the Inaugural Address, while a failure to do so would inevitably increase the existing uncertainty and fear and magnify the obstacles to be overcome.
  Mr. Woodin evidently was not in a position to commit the President-elect, but he and I have spoken fully and frankly. He certainly knows my views, and I think they faithfully represent yours. I know that he will welcome any assistance that I may be able to give him in taking over his own immediate and at present extremely difficult duties.

 
Faithfully yours,
Ogden L. Mills
Secretary of the Treasury

[Hon. Herbert Hoover. The White House]

____________________________________

[ The President’s letter to the Federal Reserve Board, dated March 2. 1933. follows.]

Gentlemen:
  I understand that the Board is meeting this evening to consider recommending to me the use of the emergency powers under Section 5 of the Enemy Trading Act

1074

Supplement I

as amended, for the purpose of limiting the use of coin and currency to necessary purposes. I shall be glad to have the advice of the Board. If it is the view of the Board that these powers should be exerted I would be glad to have your recommendation accompanied by a form of proclamation, as it would seem to me it should be issued by me before banking hours tomorrow morning.
  I also take this occasion to acknowledge the receipt of your letter of February 28th. I am familiar with the inherent dangers in any form of federal guarantee of banking deposits, but I am wondering whether or not the situation has reached the time when the Board should give further consideration to this possibility. I am enclosing herewith a rough outline of a method upon which I should like to have the Board advise me.

 
Yours faithfully,
HERBERT HOOVER

To the Governor and Directors of the Federal Reserve Board, Washington, D.C.]

Plan submitted to Secretary Mills and rejected by him
(Plan sent to Federal Reserve Board March 2.)

  1. All member banks shall be eligible. All non-member banks shall be eligible upon appraisal by the Federal Reserve Banks or by the Comptroller or such agencies as he may designate that the net assets of such bank exceeds 50% of the depositors.
Naming of the plan to be voluntary with the banks.   2. For purposes of the plan, deposits in the joining banks are to be divided into two categories, that is “active deposits” and “inactive deposits”.
  3. The government to guarantee 100% of the “active deposits”.
  4. The “active deposits' to be
    a. New deposits made in the banks.
    b. 50% of the existing deposits of all depositors except secured or guaranteed depositors.
  5. The “active deposits” to be a first charge of all assets of the bank including ‘shareholders’ liabilities. “Inactive deposits” to be subordinated entirely to the “active deposits” and not be available to depositors so long as the guarantee is outstanding.
  6. The percentage of credit to the individual “active depositor” may be increased [around] 50% on examination of the assets of the bank such assets prove to be greater than 50% but no such increase to exceed more than 75% of the value of existing assets. This plan could be extended to banks whose assets are below 50% by guaranteeing an active account at some proportion of whatever the assets are, say [unreadable] the assets show 40% of deposits, the “active accounts” could be opened at 50% and be made subject to federal guarantee).

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Supplement I

To get at it was through the authority of the Governor in State institutions and our control of hoarding and exchange. He said that Lehman was within a few minutes having a meeting with both of these groups together; that he had no doubt that they would settle it. I asked him if he agreed with my view that there should be no national proclamation closing all the banks. He said he did not want it and would not support it as he wanted to consider the whole question. He told me that he had been talking with Senator Glass for an hour. Glass was opposed to a national closing; that he was opposed to national legislation; that he considered the whole business to be cleaned up through a series of clearinghouses if the bankers of the country would stand up and change their attitude; and that he, Roosevelt, was taking that view. I asked him if I might repeat to my colleagues his statement while he held on to the line. He did so. I told him that I thought that ended all question of national proclamation and he agreed.
  Robinson then at once rang up Chicago and asked them how they were coming on. They expressed the view that the President should not under any circumstances issue a proclamation; that they had the Governor of Illinois in a meeting at that moment with the Federal Reserve and representative banking officials, together with the clearinghouse people; that the Governor was perfectly prepared to put in the holiday if the banks asked for it and that a national closing might do much harm.
  At 12 o’clock, Dawes rang me up and asked what the situation was. I told him the situation. I then went to bed.

Saturday, March 4, I933
  At 1:30, I was awakened by the policeman who delivered the attached letter from Eugene Meyer. At 8 o’clock in the morning I checked up and found that the two Governors had issued their proclamations. I called up Mills at 9:30 to ask him what had taken place at the Federal Reserve Board that gave rise to the letter they had written to me. He told me that he had objected to the letter but that they had overruled him; that Meyer was merely trying to escape responsibilities; that

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Supplement I

Meyer had been the origin of the whole movement with Woodin and was anxious to loom large in the new administration; that he, Mills, had objected all along to the letter.
  At 10 o’clock I wrote to Meyer my opinion of what he had done. [Eugene Meyer’s letter with enclosures, dated March 3, 1933, follows.]

Dear Mr. President:
  The Federal Reserve Board has been in session again this evening reviewing the latest reports of developments. The situation as reported from Chicago has reached the point of extreme tension, with prospects that by the end of banking hours tomorrow the gold reserves of the Federal Reserve Bank of Chicago will be dangerously depleted. Representative bankers are assembled there tonight and have requested that a national holiday be proclaimed as the only method they know of dealing with the immediate exigency with which they are confronted.
  There is enclosed a copy of a resolution adopted by the Board of Directors of the Federal Reserve Bank of New York, now in session. This resolution speaks for itself as to the New York situation.
  Similar conditions are developing rapidly in other Federal reserve districts. The Federal Reserve Board has considered two methods of dealing with this emergency, one by executive order and the other by joint resolution of Congress. The Senate having adjourned for the day, the issuance of an executive order seems to be the only alternative to meet the immediate situation. A form of executive order is enclosed for your consideration.
  The Federal Reserve Board feels that it cannot too strongly urge that the situation has reached a point where immediate action is necessary to prevent a banking collapse.

 
Respectfully,
Eugene Meyer
Governor

P.S. Since this letter was dictated, there has been communicated to us, by telephone, a resolution adopted by the Executive Committee of the Federal Reserve Bank of Chicago, now in session. A copy of this resolution also is enclosed. Enclosures.

[The President, The White House]

____________________________________

Resolution Adopted by the Federal Reserve Board of New York

  WHEREAS, In the opinion of the Board of Directors of the Federal Reserve Bank of New York, the continued and increasing withdrawal of currency and gold from the banks of the country has now created a national emergency, and

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Supplement I

  WHEREAS, It is understood that adequate remedial measures cannot be enacted before tomorrow morning,
  NOW, THEREFORE, BE IT RESOLVED, That in this emergency the Federal Reserve Board is hereby requested to urge the President of the United States to declare a bank holiday Saturday, March 4, and Monday, March 6, in order to afford opportunity to governmental authorities and the banks themselves to take such measures as may be necessary to protect the interests of the people and promptly to provide adequate banking and credit facilities for all parts of the country.

____________________________________

Proposed Executive Order
Executive Order

  WHEREAS the nation’s banking institutions are being subjected to heavy withdrawals of currency for hoarding; and
  WHEREAS there is increasing speculative activity in foreign exchanges; and   WHEREAS these conditions have created a national emergency in which it is in the best interest of all bank depositors that a period of respite be provided with a view to preventing further hoarding of coin, bullion or currency or speculation in foreign exchange, and permitting the application of appropriate measures for dealing with the emergency in order to protect the interests of all the people; and
  WHEREAS it is provided in Section 5(b) of the Act of October 6. 1917, as amended, that “The President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange and the export, hoarding, melting, or earmarkings of gold or silver coin or bullion or currency ' * * *"; and
  WHEREAS it is provided in Section 16 of the said Act that “Whoever shall willfully violate any of the provisions of this Act or of any license, rule, or regulation issued thereunder, and whoever shall willfully violate, neglect, or refuse to comply with an), order of the President issued in compliance with the provisions of this Act shall. upon conviction, be fined not more than $10,000, or, if a natural person, imprisoned for not more than ten years, or both * ' *":
  NOW, THEREFORE, pursuant to the authority granted by said Act, I hereby order, direct and declare that:
  1. From Saturday, the fourth day of March, to Tuesday, the Seventh day of March, Nineteen Hundred and Thirty. Three, both dates inclusive, there shall be maintained and observed throughout the United States of America a bank holiday for all of the purposes hereinafter set forth;
  2. During said holiday, no banking institution as hereinafter defined shall pay out, export, earmark, or permit the withdrawal or transfer in any manner or by

1086

Informer's Comment:
Whom are they kidding? Protecting the people? No, they are protecting themselves from criminal purloining of the people's money so the people would never find out because they would all go to jail, including Rockefeller who owned the Chicago bank. You saw all the loans and wheeling and dealing in the 30's and that would include the Firestone bank because this includes all types of banking as you will see in the next page.

Supplement I

any device whatsoever of any gold or silver coin or bullion or currency or take any other action which might facilitate the hoarding thereof; nor shall any such banking institution pay out deposits, make loans or discounts, deal in foreign exchange, or transact any other banking business whatsoever.
  3. Upon the expiration of said holiday and until otherwise ordered by the President of the United States, such banking institutions may pay out, export, earmark or permit the withdrawal or transfer of gold or silver coin or bullion or currency, or deal in foreign exchange to such extent as may be permitted by license or otherwise under regulations issued by the Secretary of the Treasury with the approval of the President.
  4. The Secretary of the Treasury, with the approval of the President, is authorized and empowered to prescribe such regulations as he may find necessary to carry out the purposes of this order.
  5. The term “banking institution” as herein used shall include all Federal reserve banks, national banking associations, banks, trust companies, savings banks, building and loan associations, credit unions, or other corporations, partnerships, associations or persons engaged in the business of receiving deposits, making loans, discounting business paper, or transacting any other form of banking business.

The White House March, 1933.

____________________________________

RESOLUTION ADOPTED BY THE FEDERAL RESERVE BOARD OF CHICAGO

  WHEREAS, The Executive Committee of the Board of Directors of the Federal Reserve Bank of Chicago believes that the continuation of the withdrawal of currency and gold from the banks of the country has created a national emergency which requires immediate action, and
  WHEREAS, it appears that adequate measures cannot be enacted to remedy this situation unless governmental authorities act tonight.
  NOW, THEREFORE, be it resolved that because of this emergency it is the sense of this Committee that the Federal Reserve Board should urge upon the President of the United States that he immediately declare a bank holiday for Saturday, March 4, and Monday, March 6, in order to give the banks and the governmental authorities sufficient time and an opportunity to provide the necessary measures for the protection of the public interests and so that adequate banking and credit facilities may be provided as promptly as possible for the entire Nation.

1087

Supplement I

[President Hoover's letter, dated March 4, 1933, in response to Eugene Meyer, follows.]

My dear Governor Meyer:
  I received at half past one this morning your letter dated March 3rd. I must assume that this letter was written on the basis of information received by you prior to 11:30 o’clock last night for the reason that before your letter was sent you had certain information as follows:
  a. At 11 o’clock last night the President-elect had informed me he did not wish such a proclamation issued.
  b. The Attorney General had renewed the same opinion which he had already given to the Board that the authorities on which you were relying were inadequate unless supported by the incoming Administration.
  c. That groups of representative bankers in both Chicago and New York, embracing members of the Board of Directors of the Federal Reserve Banks in those cities, were then in conference with the governors of the states of Illinois and New York, and that the governors of these two states were prepared to act if these representative groups so recommended. It appears that the governors did take action under their authorities, declaring a temporary holiday in these two critical states, and thus accomplishing the major purposes which the Board apparently had in mind.
  In view of the above I am at a loss to understand why such a communication should have been sent to me in the last few hours of this Administration, which I believe the Board must now admit was neither justified nor necessary.

 
Yours faithrully,
Herbert Hoover

[Hon. Eugene Meyer, Federal Reserve Board, Washington, D.C.]

____________________________________

[The coverage of this volume ends at noon on March 4, 1933, with the close of the Hoover administration. Copies of the journal of events from the evening of March 4 to March 8, can be obtained from the Herbert Hoover Presidential Library, West Branch, Iowa. 52358]

1088

Informer's Comment:
Hoover would not have instituted what the Federal Reserve Board wanted. He even made the comment at (a) above that Roosevelt would not do it. Roosevelt was a liar because this was March 4th 1933 read the next page to see how well Roosevelt lived up to his word the very next day.

PROCLAMATIONS
[Convening the Congress in Extra Session]
By The President of the United States of America
A PROCLAMATION March 5 1933
Convening extra session of Congress, March 9, 1933
Preamble

  Whereas public interests require that the Congress of the United States should be convened in extra session at twelve o’clock, noon, on Ninth day of March, 1933, to receive such communication as may be made by the Executive;
  Now, Therefore, I, Franklin D. Roosevelt, President of the United States of America, do hereby proclaim and declare that an extraordinary occasion requires the Congress of the United States to convene in extra session at the Capitol in the city of Washington on the Ninth day of March, 1933, at twelve o’clock, noon, of which all persons who shall at that time be entitled to act as members thereof are hereby required to take notice.
  IN WITNESS WHEREOF, I have hereunto set my hand and caused to be affixed the great seal of the United States.
  Done at the City of Washington this Fifth day of March, in the year of our Lord One Thousand Nine Hundred and Thirty-three, and [seal] of the Independence of the United States the One Hundred and Fifty-seventh

 
FRANKLIN D. ROOSEVELT

By the President:
CORDELL HULL
Secretary of State.

[No. 2038]

____________________________________

Informer's Comment:
I am leaving out Executive Order 2039 and 2040. They say the same thing, word for unchanged word, as what the Federal Reserve Board proposed. Here you are people, all the evidence you want as to who runs this country from the very inception to present day. Have a good year this coming year, and remember you have no representatives in Washington and never have.

PART OF McFADDEN'S SPEECH

With the above documents now published from the 1930 era, you will have a better understanding why all this loan money was paid to these foreign countries and are better able to Understand Congressman Louis McFadden’s speech in 1933. I only post a small portion here and the rest can be obtained by going here as they already have scanned in the text of the Congressional Record. Please note the reference to Germany that McFadden makes and compare this to what you read on the 1930 papers on the money already loaned to Germany and the forgiveness of the German debt.

“On April 27, 1932, the Fed outfit sent $750,000 belonging to American bank depositors in gold to Germany. A week later another $300,000 in gold was shipped to Germany. About the middle of May $12,000,000 in gold was shipped to Germany by the Fed. Almost every week there is a shipment of gold to Germany. These shipments are not made for profit on the exchange since the German marks are blow parity with the dollar.

“Mr. Chairman, I believe that the National Bank depositors of these United States have a right to know what the Fed are doing with their money. There are millions of National Bank depositors in the Country who do not know that a percentage of every dollar they deposit in a Member Bank of the Fed goes automatically to American Agents of the foreign banks and that all their deposits can be paid away to foreigners without their knowledge or consent by the crooked machinery of the Fed and the questionable practices of the Fed.

[Ed. Note- Problem with next paragraph in original] “Mr. Chairman, the American people should be told the truth by their servants in office. In 1930, we had over a half billion dollars outstanding daily to finance foreign goods stored in or shipped between several billion dollars. What goods are these on which the Fed yearly pledge several billions of dollars. In its yearly total, this item amounts to several billions of dollars of the public credit of these United States?

“What goods are those which are hidden in European and Asiatic stores have not been seen by any officer of our Government but which are being financed on the public credit of the United States Government? What goods are those upon which the 17 United States Government is being obligated by the Fed to issue Fed Notes to the extent of several billions of dollars a year?

The Bankers' Acceptance Racket

“The Fed have been International Banks from the beginning, with these United States as their enforced banker and supplier of currency. But it is none the less extraordinary to see these twelve private credit monopolies, buying the debts of foreigners against foreigners, in all parts of the world and asking the Government of these United States for new issues of Fed notes in exchange for them. “The magnitude of the acceptance racket as it has been developed by the Fed, their foreign correspondents, and the predatory European born bankers, who set up the Fed here and taught your own, by and of pirates, how to loot the people: I say the magnitude of this racket is estimated to be in the neighborhood of 9,000,000,000 per year. In the past ten years it is said to have amounted to $90,000,000,000.00. In my opinion it has amounted to several times that much. Coupled to this you have to the extent of billions of dollars, the gambling in the United States securities, which takes place in the same open discount market; gambling on which the Fed is now spending $100,000,000.00 per week.

“Fed Notes are taken from the U.S. Government in unlimited quantities. Is it strange that the burden of supplying these immense sums of money to the gambling fraternity has at last proved too heavy for the American people to endure? Would it not be a national [calamity to] again bind down this burden on the backs of the American people and by means of a long rawhide whip of the credit masters, compel them to enter another seventeen years of slavery?

“They are trying to do that now. They are trying to take $100,000,000.00 of the public credit of the United States every week, in addition to all their other seizures and they are sending that money to the nefarious open market in a desperate gamble to reestablish their graft as a going concern.

“They are putting the United States Government in debt to the extent of $100,000,000 a week, and with the money they are buying our Government securities for themselves and their foreign principals. Our people are disgusted with the experiences of the Fed. The Fed is not producing a loaf of bread, a yard of cloth, a bushel of corn, or a pile of cordwood by its check-kiting operations in the money market.

“Mr. Speaker, on the 13th of January of this year I addressed the House on the subject of the Reconstruction Finance Corporation. In the course of my remarks I made the following statement: In 1928 the member banks of the Fed borrowed $60,598,690,000. from the Fed on their fifteen-day promissory notes. Think of it. Sixty billion dollars payable on demand in gold in the course of one single year. The actual amount of such obligations called for six times as much monetary gold as there is in the world. Such transactions represent a grant in the course of one single years of about $7,000,000 to every member of the Fed.

“Is it any wonder that American labor which ultimately pays the cost of all banking operations of this Country has at last proved unequal to the task of supplying this huge total of cash and credit for the benefit of the stock market manipulators and foreign swindlers? “In 1933 the Fed presented the staggering amount of $60,598,690,000 to its member banks at the expense of the wage earners and tax payers of these United States. In 1929, the year of the stock market crash, the Fed advanced $58,000,000,000 to member banks.

END

As I had stated before in my comments in the 1930 papers, you, the American, had to be declared the enemy of the banking cartel in 1933, otherwise the American people could have demanded all their holdings they entrusted the banks to handle. This would have caused the real collapse of the banking industry and shown the fraud of the paper money. It would have put all the bankers in jail for theft and probably a lot of high placed government officials including the Secretary of Treasury and J.P. Morgan, Rockefeller, Stimson (Sec. Of State), Getty, Firestone and many more for helping to steal the American people’s money under conspiracy. But people will never learn as has been shown through out the history of banking in this country alone. People just love to trust other people with their money and will forever get burnt for doing so. Since the first bank was formed in America; through the “bank swindles” of the 1830’s; to the “Crime of 73” (1873) and the fall of the banking firm of Jay Cooke; to the abolishment of the Independent Treasury in 1921; to the pretended collapse of 1929/30 and on and on up to the present day where Greenspan is the actual shaker for the movers ( the private banking cartel) that run the country. The president and Congress are but mere pawns and the lawyer judges of the entire country have been compromised by the movers and shakers. And, the American people just love it. The proof of this love to be raped is evidenced by the mere fact that none of these American people can see to handle their own money and turn it over to thieves because it is just to hard to be without banking. So when the people complain they have been raped over and over by the banking cartel they have no one but themselves to blame.

The Informer