Rothschild Money Trust

value of all products and of all property approximately 40 per
cent, and to about the 1929 level.
But not one dollar of additional currency was put in circulation
as a result of it. It did, however, increase the value of
our export products that must be paid for in gold or its equivalent.
Congress also passed the Thomas bill which authorized the
President to purchase silver and gold, and which sought to remonetize
silver and thereby increase the volume of our circulating
medium. The President was authorized by this act to purchase
both gold and silver and to pay for the same with gold
and silver certificates.
We have bought the huge sum of $8,660,000,000 of gold at
$35 an ounce within the past four years, principally from Great
Britain and Russia. This gold was worth, prior to its devaluation,
$20.67 an ounce. The premium that we have paid for it
amounts to $3,500,000,000. The reason we are getting all of it is
the fact that we are paying the highest price for it. We are also
getting large quantities, sent here for safe keeping, by foreign
banks and foreign Jews.
The plan pursued is to sell U. S. bonds and thereby acquire
the money to purchase the gold. This necessarily means that
our good dollars are sent to Russia, Great Britain and other
foreign countries in payment of their useless gold, and to that
extent depletes our meager supply of dollars and their meager
supply of gold. It should be remembered that this money
although sent to foreign countries, is counted by the Treasury
Department as being in circulation here and constitutes a part
of our $42.02 per capita circulation.
The worst of this operation is that it has saddled the American
people with a debt of $8,660,000,00 with an annual interest
charge of about $200,000,000. If certificates had been issued
against this gold as it was purchased and as was contemplated
by Congress, the certificates and gold would offset each other,
there would be no liability and no interest charge, and the gold
would still be in circulation because the certificate holders could
demand it. If certificates should now be issued against it we
would have $8,660,000,000 of gold against which there would be
$8,660,000,000 of bonds and $8,660,00000 of certificates and
we would be out the huge sum of $8,660,000,000 plus interest.
Moreover if certificates had been issued against the gold
as purchased there would be that much more money in circulation
in the world, and world prices including our own would be
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