"Whereas, said national emergency still continues, and it is necessary to take further measures extending beyond March 9, 1933, in order to accomplish such purposes"

We again clearly see that there is more to come, evidenced by the phrase, "further measures extending beyond March 9, 1933 . . . . " Could this be the beginning of a new deal? Possibly a one-sided deal. How long can this type of action continue? Let's find out.

"Now, therefore, I, Franklin D. Roosevelt, President of the United States of America, in view of such continuing national emergency and by virtue of the authority vested in me by Section 5 (b) of the Act of October 6, 1917 (40 Stat. L. 411) as amended by the Act of March 9, 1933, do hereby proclaim, order, direct and declare that all the terms and provisions of said Proclamation of March 6, 1933, and the regulations and orders issued thereunder are hereby continued in full force and effect until further proclamation by the President."

We now understand that the Proclamation 2039, of March 6, 1933 and Proclamation 2040 of March 9, 1933, will continue until such time as another proclamation is made by "the President". Note that the term "the President" is not specific to President Roosevelt; it is a generic term which can equally apply to any President from Roosevelt to the present, and beyond.

So, here we have President Roosevelt declaring a national emergency (we are now beginning to realize the full significance of those words) and closing the national banks for two days, by Executive Order. Further, he states that the Proclamations bringing about these actions will continue "in full force and effect" until such time as the President, and only the President, changes the situation.

It is important to note the fact that these Proclamations were made on March 6, 1933, three days before Congress was due to convene in extra session. Yet references are made to such things as the amended Section 5 (b) which has not yet even been confirmed by Congress. President Roosevelt must have been supremely confident of Congress' confirmation of his actions. And indeed, we find that confidence was justified. For on March 9, 1933, without individual Congressmen even having the opportunity to read for themselves the bill they were to confirm, Congress did indeed approve the amendment of Section 5 (b) of the Act of October 6, 1917.

Referring to the Public Papers of Herbert Hoover:

"That those speculators and insiders were right was plain enough later on. This first contract of the 'moneychangers' with the New Deal netted those who removed their money from the country a profit of up to 60 percent when the dollar was debased."

Where had our gold gone? Our gold had already been moved offshore. The gold was not in the banks, and when We, the People lined up at the door attempting to have our contracts honored, the deception was exposed. What happened then? The laws were changed to prevent us from asking again, and the military was brought in to protect the Federal Reserve. We, the People, were declared to be the same as public enemy and placed under military authority.

Going now to another section of 48 Statute 1:

"Whenever in the judgment of the Secretary of the Treasury such action is necessary to protect the currency system of the United States, the Secretary of the Treasury, in his discretion, may require any or all individuals, partnerships, associations and corporations to pay and deliver to the Treasurer of the United States any or all gold coin, gold bullion, and gold certificates owned by such individuals, partnerships, associations and corporations."

By this Statute, everyone was required to turn in their gold. Failure to do so would constitute a violation of this provision, such violation to be punishable by a fine of not more than $10,000.00 and imprisonment for not more than ten years. It was a seizure. Whose property may be seized without due process of law under the Trading with the Enemy Act? The enemy's. Whose gold was seized? Ours,­ the gold of the people of the United States.

From the Roosevelt Papers:

"During this banking holiday it was at first believed that some form of script or emergency currency would be necessary for the conduct of ordinary business. We knew that it would be essential when the banks reopened to have an adequate supply of currency to meet all possible demands of depositors. Consideration was given by government officials and various local agencies to the advisability of issuing clearing-house certificates or some similar form of local emergency currency. On March 7, 1933, the Secretary of the Treasury issued a regulation authorizing clearing houses to issue demand certificates against sound assets of the banking institutions, but this authority was not to become effective until March 10th. In many cities, the printing of these certificates was actually begun, but after the passage of the Emergency Banking Act of March 9, 1933 (48 Stat. 1), it became evident that they would not be needed, because the Act made possible the issue of the necessary amount of emergency currency in the form of Federal Reserve bank-notes which could be based on any sound assets owned by banks."

Roosevelt could now issue emergency currency under the Act of March 9, 1933 and this currency was to be called Federal Reserve bank notes. From Title 4 of the Act of March 9, 1933:

"Upon the deposit with the Treasurer of the United State, (a) of any direct obligations of the United States or (b) of any notes, drafts, bills of exchange or bankers' acceptance acquired under the provisions of this Act, any Federal Reserve Bank making such deposit in the manner prescribed by the Secretary of the Treasury shall be entitled to received from the Comptroller of the currency circulating notes in blank, duly registered and countersigned."

What is this saying? It says (emphasis is ours): "Upon the deposit with the Treasurer of the United States, (a) of any direct obligation of the United States . . ." What is a direct obligation of the United States? It's a treasury note, which is an obligation upon whom? Upon We, the People, to perform. It's a taxpayer obligation, isn't it?

Title 4 goes on: "or (b) of any notes, drafts, bills of exchange or bankers' acceptances . . . . " What's a note? If you go to the bank and sign a note on your home, that's a note, isn't it? A note is a private obligation upon We, the People. And if the Federal Reserve Bank deposits either (a) public and/or (b) private obligation of We, the People, with the Treasury, the Comptroller of the currency will issue this circulating note endorsed in blank, duly registered and countersigned, an emergency currency based on the (a) public and/or (b) private obligations of the people of the United States.

In the Congressional Record of March 9, 1933, we find evidence that our congressmen didn't even have individual copies of the bill to read, on which they were about to vote. A copy of the bill was passed around for approximately 40 minutes.

Congressman McFadden made the comment:

"Mr. Speaker, I regret that the membership of the House has had no opportunity to consider or even read this bill. The first opportunity I had to know what this legislation is, was when it was read from the clerk's desk. It is an important banking bill. It is a dictatorship over finance in the United States. It is complete control over the banking system in the United States . . . It is difficult under the circumstances to discuss this bill. The first section of the bill, as I grasped it, is practically the war powers that were given back in 1917."

Congressman McFadded later says:

"I would like to ask the chairman of the committee if this is a plan to change the holding of the security back of the Federal Reserve notes to the Treasury of the United States rather than the Federal Reserve agent."

Keep in mind, here, that, prior to 1933, the Federal Reserve bank held our gold as security, in return for Federal Reserve gold notes which we could redeem at any time we wanted. Now, however, Congressman McFadden is asking if this proposed bill is a plan to change who's going to hold the security, from the Federal Reserve to the Treasury.

Chairman Steagall's response to Congressman McFadden's question, again from the Congressional Record.:

"This provision is for the issuance of Federal Reserve bank notes; and not for Federal Reserve notes; and the security back of it is the obligations, notes, drafts, bills of exchange, bank acceptances, outlined in the section to which the gentleman has referred."

We were backed by gold, and our gold was seized, wasn't it? We were penniless, and now our money would be secured, not by gold, but by notes and obligations on which We, the People were the collateral security.

Congressman McFadden then questioned:

"Then the new circulation is to be Federal Reserve bank notes and not Federal Reserve notes. Is that true?"

Mr. Steagall replied:

"Insofar as the provisions of this section are concerned, yes."

Does that sound familiar?

Next we hear from Congressman Britten, as noted in the Congressional Record:

"From my observations of the bill as it was read to the House, it would appear that the amount of bank notes that might be issued by the Federal Reserve System is not limited. That will depend entirely upon the amount of collateral that is presented from time to time for exchange for bank notes. Is that not correct?"

Who is the collateral? We are;­ we are chattel, aren't we? We have no rights. Our rights were suspended along with the Constitution. We became chattel property to the corporate government, our transactions and obligations, the collateral for the issuance of Federal Reserve bank notes.

Congressman Patman, speaking from the Congressional Record:

"The money will be worth 100 cents on the dollar because it is backed by the credit of the Nation. It will represent a mortgage on all the homes and other property of all the people in the Nation."

It now is no wonder that credit became so available after the Depression. It was needed to back our monetary system. Our debts, our obligations, our homes, our jobs ­ we were now slaves for the system.

From Statutes at Large, in the Congressional Record:

"When required to do so by the Secretary of the Treasury, each Federal Reserve agent shall act as agent of the Treasury of the United States or of the Comptroller of the currency, or both, for the performance of any functions which the Treasurer or the Comptroller may be called upon to perform in carrying out the provisions of this paragraph."

The Federal Reserve was taken over by the Treasury. The Treasury holds the assets. We are the collateral ­ ourselves and our property.

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