Rothschild Money Trust

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banks issued their currency notes, based upon United States
bonds and redeemable by the national government, which circulated
as currency and which contributed materially to the
supply of money and the stability of credit and of values.
Under the Rothschild influence the banking systems of the
world were all radically changed. The supreme authority to
issue money, as well as to extend credit, was transferred by the
various governments to the bankers of their respective countries.
The Bank of England became the model for other central banks
of the world.
At the time of the establishment of the Federal Reserve
System our government was the only one of any consequence that
even pretended to exercise its sovereign right to issue and control
the volume of money in circulation. The establishment of
the Federal Reserve System operated as a complete surrender to
the banking fraternity of the sovereign power of the American
people to regulate values through their congressional representatives,
as guaranteed to them by their national constitution.
The panic of 1907 was, like all of our other panics, a manipulated
one. It was brought about by the refusal of the reserve
banks of New York to pay currency to their country bank
depositors, which in turn made it necessary for these banks to
refuse to pay their depositors in currency. It was therefore due
primarily to an insufficient quantity of currency in circulation
and an inadequate method of increasing the supply.
There was universal demand for a change of the system and
for an adequate volume of money to meet the demands of commerce.
Congress appointed a committee, called the Monetary
Commission, with Senator Nelson W. Aldrich of Rhode Island
as chairman, to study the banking systems of the world and to
report its findings. This committee made one or more trips to
Europe and some two years after its appointment filed an exhaustive
report of more than four thousand pages, which was
never read by anybody. In the meantime the bankers and the
various commercial bodies and the farmers and the laborers in
their conventions, and the politicians and the press were all with
one voice demanding a banking and currency system that would
make future panics and depressions impossible.
The keynote of President Wilson's campaign for the presidency
in 1912 was the reform of our banking and currency system
and he was elected upon that issue. Immediately after his