Rothschild Money Trust

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election he submitted that subject to Congress in a very strong
message, pointing out the inadequacy of the existing system and
the necessity for a system that would provide an adequate supply
of currency and credit to meet the demands of industry and
commerce and that would insure the full employment of labor,
and high prices and wages. His message and his campaign
speeches all indicated that he had a keen understanding of the
money question and that he desired to establish a system that
would afford an adequate volume of money and credit, and
would sustain high prices and wages.
There then followed a great struggle, feigned or real, between
the big city bankers and the Administration. The bankers
sought to establish a central bank with power to control currency
and credit and with themselves in control of the bank.
They threatened that if this was not done that they would denationalize
and would have nothing whatever to do with the system.
The Administration apparently sought to reserve to the
government its sovereign power to issue money and to establish
a decentralized banking system to supply credit. The question
of the conditions under which new currency would be issued and
whether or not the currency note should be a bank note or a government
note were important issues in the struggle.
The original Federal Reserve Act emerged as a result of this
controversy. The big banks without a single exception were
satisfied and accepted this system. President Wilson and Secretary
McAdoo were apparently satisfied with it. President Wilson
said of it, that it was a charter of freedom to commerce and
industry and that men could go forward with their undertakings
with assurance and without fear that their possessions would be
taken from them by the contraction of currency and credit.
In the midst of this campaign for the reform of our banking
and currency system Paul Warburg, a German Jew, migrated
from Frankfort-on-Main, the original home of the Rothschilds,
to America. He was at the time a member of the Rothschild
banking firm in Frankfort-on-Main and he became a member of
Kuhn, Loeb & Company in New York, the American branch of
the Rothschilds, upon his arrival here. The following is the
Naval Secret Service report on him in December, 1918:
"Warburg, Paul, New York City, German; was naturalized
an American citizen 1911, was decorated 1912 by the
Kaiser; was vice-chairman of United States Federal Reserve
Board; is a wealthy and influential banker; handled large