CHAPTER SIX
Monetary Manipulation

When the Rothschilds obtained control of the Bank of England, following Nathan’s spectacular financial “killing” in 1815, he and his associates insisted that Gold be made the only base for the issuance of paper money.  In 1870 the European Bankers experienced a little annoyance in their control system due to the fact that in America a considerable amount of silver coin was used.  The European Bankers decided that silver must be demonetized in the United States.  At that time England had much gold and very little silver : America had much silver and very little gold.^[1]  The bankers on both sides of the Atlantic knew that while this difference continued they could not obtain absolute control of the economy of the nation and absolute control is essential for the success of big scale manipulation.

The European International Bankers sent Ernest Seyd over to America and placed at his disposal in American banks $500,000 with which to bribe key members of the American legislature.  In 1873, at the instigation of the bankers, their agents introduced a “Bill”, innocently named “A Bill to reform Coinage and Mint Laws”.  It was cleverly drafted.  Many pages of writing concealed the real purpose behind the Bill.  The Bill was sponsored by none other than Senator John Sherman, whose letter to the House of Rothschild has already been referred to.  Sherman was supported by Congressman Samuel Hooper.  After Senator Sherman gave a very plausible, but misleading, report regarding the purpose of the Bill, it was passed without a dissenting vote.  Three years passed before the full import of the Bill began to be realized.  It was a camouflaged Bill to demonetize silver.  President Grant signed the Bill without reading the contents after he had been assured it was just a routine matter necessary to make some desirable reforms in the coinage and monetary laws.  According to the Congressional Record none but the members of the Committee which introduced the Bill understood its meaning.

The International Bankers considered the passage of the Bill so essential to their plans, to obtain absolute control of the monetary system of the United States, that Ernest Seyd was instructed to represent himself as an expert on coining of money.  After organizing the formation of a committee favourable to his master’s objectives, he sat in with the committee, in a professional advisory, capacity, and helped draft the Bill in accordance with the Rothschilds’ instructions.

Congressman Samuel Hooper introduced the Bill in the House on April 9th, 1872.  He is recorded as saying :  “Mr. Ernest Seyd, of London, a distinguished writer, has given great attention to the subject of mints and coinage.  After examining the first draft of the Bill, he furnished many valuable suggestions which have been incorporated in the Bill.”  Mr. John R. Elsom in his book Lightning over the Treasury Building on page 49 declares :  According to his (Seyd’s) own statement, made to his friend Mr. Frederick A. Lukenback, of Denver, Colorado, who has, under oath, given us the story, he (Seyd) said “I saw the Committee of the House and Senate and paid the money, and stayed in America until I knew the measure was safe”.

In 1878 a further withdrawal of currency, and restricting of credits, caused 10,478 business and banking failures in the United States.  In 1879 the issuance of more coin at the insistence of Congress halted the artificially created recession and reduced business failures to 6,658.  But in 1882 the “Secret Power” behind International affairs issued orders that there was to be no more pussy-footing.  They reminded their banking associates in the States that sentiment has no place in business.  These admonishments produced results as spectacular as they were drastic.  Between 1882 and 1887 the per capita money in circulation in the United States was reduced to $6.67.  This action increased the total business failures from 1878 to 1892, to 148,703, while proportionate foreclosures were made on farms and private dwellings.  Only the bankers and their agents, who made the loans and took foreclosure proceedings, benefited.

It would appear that the International bankers were deliberately creating conditions of poverty, and despair, in the United States in order to produce conditions which would enable their instrument the Word Revolutionary Party to recruit revolutionary forces.  This accusation is supported by a letter issued to all American Bankers, by the American Bankers Association.  It has been proved that this association was intimately affiliated with Rothschild’s European Monopoly, if not actually controlled by the House of Rothschild, at that time.  The letter reads :

March 11, 1893.

Dear Sir :

The interests of the National Banks require immediate financial legislation by Congress.  Silver certificates, and Treasury notes, must be retired, and national bank notes, upon a gold basis, made the only money.  This will require the authorization of new bonds in the amount of $500,000,000 to $1,000,000,000 as the basis of circulation.  You will at once retire one-third of your circulation and will call one-half of your loans.  Be careful to create a money stringency among your patrons, especially among influential business men.  The life of the National Banks, as fixed and safe investments, depends upon immediate action as there is an increasing sentiment in favour of government legal tender and silver coinage.

This command was obeyed immediately and the panic of 1893 was created.  William Jennings Bryan tried to counteract the bankers’ conspiracy, but once again the public believed the false accusations circulated in the Press by the bankers’ propagandists.  The man in the street blamed the government.  The average citizen never even suspected the part the bankers had played in creating chaos in order to feather their own nests.  William Jennings Bryan was unable to do anything constructive.  His voice, like the voices of many other honest and loyal citizens, was a voice crying in the wilderness.

In 1899 J.P. Morgan, and Anthony Drexel, went to England to attend the International Bankers’ Convention.  When they returned, J.P. Morgan had been appointed head representative for the Rothschild’s interests in the United States.  He was probably chosen as Top-man because of the ingenuity he had shown when he made a fortune selling his government Union Army rifles which had already been condemned.^[2]

As the result of the London Conference J.P. Morgan & Co. of New York, Drexel & Co. of Philadelphia, Grenfell & Co. of London, Morgan Harjes & Co. of Paris, M.M. Warburgs of Germany & Amsterdam and the House of Rothschild were all affiliated.

The Morgan-Drexel combination organized the Northern Securities Corporation in 1901 for the purpose of putting the Heinze-Morse group out of business.  The Heinze-Morse controlled considerable banking, shipping, steel and other industries.  They had to be put out of business so the Morgan-Drexel combination could control the forthcoming Federal election.

The Morgan-Drexel combination succeeded in putting in Theodore Roosevelt in 1901.  This delayed the prosecution which had been started against them by the Justice Department because of the alleged illegal methods used to rid themselves of competition.  Morgan-Drexel then affiliated with Kuhn-Loeb & Co.  To test their combined strength it was decided to stage another financial “killing”.  They created “The Wall Street Panic of 1907”.  The public reaction to such methods of legalized gangsterism was sufficient to make the Government take action, but the evidence which follows clearly proves how the public was betrayed.

The Government appointed a National Monetary Commission.  Senator Nelson Aldrich was appointed head of the commission.  He was charged with the duty of making a thorough study of financial practices, and then formulating banking and currency reforms by submitting the necessary legislation to Congress.  Aldrich, it was discovered afterwards, was financially interested with the powerful Rubber and Tobacco Trusts.  He was just about the last man in the Senate who should have been entrusted with such a task.  Immediately after his appointment Aldrich picked a small group of trusted lieutenants and they all departed for Europe.  While in Europe they were given every facility to study the way the international bankers controlled the economy of European countries.  After Aldrich had spent two years, and over $300,000 of the American tax-payers’ money in Europe, lie returned to the U.S.A.  All the public received for their money was to be told by Aldrich that he hadn’t been able to arrive at any definite plan which would prevent recurring financial panics which had upset business, created unemployment, and destroyed many small fortunes in the U.S.A. since the Civil War.  Aldrich was so close to the Rockefellers that J.D. Jr. married his daughter Abby.

footnotes

1 It was to aggravate this situation that agents of the International Conspirators in America organized the gangs of stage-coach and train-robbers to intercept shipments of gold being sent from various mines to the U.S. Treasury during this period.  This connection between international Bankers and the Underworld will be proved to exist even today.

2 Gustavus Myers deals with J.P. Morgan’s and his father’s connections with the House of Rothschild in much greater detail and all Americans who wish to stop history repeating itself should read how they were sold down the river in the middle of last century.  It is explained in another Chapter how the International Bankers met in one section of London and planned policy while the revolutionary leaders met in another and worked out the details of intrigue which would put the wars and revolutions planned by the master-minds into effect.

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