On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system,The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, CONSPIRACY,FRAUD, UNLAWFUL CONVERSION, AND TREASON.
The petition for Articles of Impeachment was thereafter referred to the Judiciary Committee and has
YET TO BE ACTED ON.
So, this End The FED POSTER should be reprinted, reposted,
set up on web pages and circulated far and wide. 

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Congressman McFadden
on the Federal Remarks
in Congress, 1934
AN ASTOUNDING EXPOSURE

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Reprinted by permission
1978 Arizona Caucus Club

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Congressman McFadden's Speech On the Federal Reserve Corporation

Quotations from several speeches made on the Floor of the House of Representatives by the Honorable Louis T. McFadden of Pennsylvania. Mr. McFadden, due to his having served as Chairman of the Banking and Currency Committee for more than 10 years, was the best posted man on these matters in America and was in a position to speak with authority of the vast ramifications of this gigantic private credit monopoly. As Representative of a State which was among the first to declare its freedom from foreign money tyrants it is fitting that Pennsylvania, the cradle of liberty, be again given the credit for producing a son that was not afraid to hurl defiance in the face of the money-bund. Whereas Mr. McFadden was elected to the high office on both the Democratic and Republican tickets, there can be no accusation of partisanship lodged against him. Because these speeches are set out in full in the Congressional Record, they carry weight that no amount of condemnation on the part of private individuals could hope to carry.

The Federal Reserve-A Corrupt Institution

Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over.

This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.

Some people who think that the Federal Reserve Banks United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lender. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures;there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.

These twelve private credit monopolies were deceitfully and disloyally foisted upon this Country by the bankers who came here from Europe and repaid us our hospitality by undermining our American institutions. Those bankers took money out of this Country to finance Japan in a war against Russia. They created a reign of terror in Russia with our money in order to help that war along. They instigated the separate peace between Germany and Russia, and thus drove a wedge between the allies in World War. They financed Trotsky's passage from New York to Russia so that he might assist in the destruction of the Russian Empire. They fomented and instigated the Russian Revolution, and placed a large fund of American dollars at Trotsky's disposal in one of their branch banks in Sweden so that through him Russian homes might be thoroughly broken up and Russian children flung far and wide from their natural protectors. They have since begun breaking up of American homes and the dispersal of American children. "Mr. Chairman,there should be no partisanship in matters concerning banking and currency affairs in this Country, and I do not speak with any.

In 1912 the National Monetary Association, under the chairmanship of the late Senator Nelson W. Aldrich, made a report and presented a vicious bill called the National Reserve Association bill. This bill is usually spoken of as the Aldrich bill. Senator Aldrich did not write the Aldrich bill. He was the tool, if not the accomplice, of the European bankers who for nearly twenty years had been scheming to set up a central bank in this Country and who in 1912 has spent and were continuing to spend vast sums of money to accomplish their purpose.

We were opposed to the Aldrich plan for a central bank. The men who rule the Democratic Party then promised the people that if they were returned to power there would be no central bank established here while they held the reigns of government. Thirteen months later that promise was broken,and the Wilson administration, under the tutelage of those sinister Wall Street figures who stood behind Colonel House, established here in our free Country the worm-eaten monarchical institution of the "King's Bank"to control us from the top downward, and from the cradle to the grave.

The Federal Reserve Bank destroyed our old and characteristic way of doing business. It discriminated against our 1-name commercial paper, the finest in the world, and it set up the antiquated 2-name paper, which is the present curse of this Country and which wrecked every country which has ever given it scope; it fastened down upon the Country the very tyranny from which the framers of the Constitution sough to save us.

PRESIDENT JACKSON'S TIME

One of the greatest battles for the preservation of this Republic wasfought out here in Jackson's time; when the second Bank of the United States,founded on the same false principles of those which are here exemplifiedin the Fed was hurled out of existence. After that, in 1837, the Countrywas warned against the dangers that might ensue if the predatory interestsafter being cast out should come back in disguise and unite themselvesto the Executive and through him acquire control of the Government. Thatis what the predatory interests did when they came back in the livery ofhypocrisy and under false pretenses obtained the passage of the Fed.

The danger that the Country was warned against came upon us and isshown in the long train of horrors attendant upon the affairs of the traitorousand dishonest Fed. Look around you when you leave this Chamber and youwill see evidences of it in all sides. This is an era of misery and forthe conditions that  caused that misery, the Fed are fully liable.This is an era of financed crime and in the financing of crime the Feddoes not play the part of a disinterested spectator.

It has been said that the draughts man who was employed to write thetext of the Aldrich bill because that had been drawn up by lawyers, byacceptance bankers of European origin in New York. It was a copy, in generala translation of the statues of the Reichsbank and other European centralbanks. One-half million dollars was spent on the part of the propagandaorganized by these bankers for the purpose of misleading public opinionand giving Congress the impression that there was an overwhelming populardemand for it and the kind of currency that goes with it, namely, an assetcurrency based on human debts and obligations. Dr. H. Parker Willis hadbeen employed by Wall Street and propagandists, and when the Aldrich measurefailed- he obtained employment with Carter Glass, to assist in drawingthe banking bill for the Wilson administration. He appropriated the textof the Aldrich bill. There is no secret about it. The test of the FederalReserve Act was tainted from the first.

A few days before the bill came to a vote, Senator Henry Cabot Lodge,of Massachusetts, wrote to Senator John W. Weeks as follows:
 

In eighteen years that have passed since Senator Lodge wrote that letterof warning all of his predictions have come true. The Government is inthe banking business as never before. Against its will it has been madethe backer of horse thieves and card sharps, bootlegger's smugglers, speculators,and swindlers in all parts of the world. Through the Fed the riffraff ofevery country is operating on the public credit of the United States Government.

THE GREAT DEPRESSION

Meanwhile and on account of it, we ourselves are in the midst of thegreatest depression we have ever known. From the Atlantic to the Pacific,our Country has been ravaged and laid waste by the evil practices of theFed and the interests which control them. At no time in our history, hasthe general welfare of the people been at a lower level or the minds ofthe people so full of despair.

Recently in one of our States, 60,000 dwelling houses and farms werebrought under the hammer in a single day. 71,000 houses and farms in OaklandCounty, Michigan, were sold and their erstwhile owners dispossessed. Thepeople who have thus been driven out are the wastage of the Fed. They arethe victims of the Fed. Their children are the new slaves of the auctionblocks in the revival of the institution of human slavery.

The Scheme of the Fed

In 1913, before the Senate Banking and Currency Committee, Mr. AlexanderLassen made the following statement: "The whole scheme of the Fed withits commercial paper is an impractical, cumbersome machinery- is simplya cover to secure the privilege of issuing money, and to evade paymentof as much tax upon circulation as possible and then control the issueand maintain, instead of reducing interest rates. It will prove to theadvantage of the few and the detriment of the people. It will mean continuedshortage of actual money and further extension of credits, for when thereis a shortage of money people have to borrow to their cost.' "A few daysbefore the Fed passed, Senator Root denounced the Fed as an outrage onour liberties. He predicted: 'Long before we wake up from our dream ofprosperity through an inflated currency, our gold- which alone could havekept us from catastrophe- will have vanished and no rate of interest willtempt it to return.'

If ever a prophecy came true, that one did.

The Fed became law the day before Christmas Eve, in the year 1913,and shortly afterwards, the German International bankers, Kuhn, Loeb andCo. sent one of their partners here to run it.

The Fed Note is essentially unsound. It is the worst currency and themost dangerous that this Country has ever known. When the proponents ofthe act saw that the Democratic doctrine would not permit them to let theproposed banks issue the new currency as bank notes, they should have stoppedat that. They should not have foisted that kind of currency, namely, anasset currency, on the United States Government. They should not have madethe Government [liable on the private] debts of individuals and corporations,and, least of all, on the private debts of foreigners. "As Kemerer says:'The Fed Notes, therefore, in form, have some of the qualities of Governmentpaper money, but in substance, are almost a pure asset currency possessinga Government guarantee against which contingency the Government has madeno provision whatever.'

Hon. L.J.Hill, a former member of the House, said, and truly: "Theyare obligations of the Government for which the United States receivednothing and for the payment of which at any time, it assumes the responsibility:looking to the Fed to recoup itself.'

If this United States is to redeem the Fed Notes, when the GeneralPublic finds it costs to deliver this paper to the Fed, and if the Governmenthas made no provisions for redeeming them, the first element of unsoundnessis not far to seek.

Before the Banking and Currency Committee, when the bill was underdiscussion Mr. Crozier of Cincinnati said: 'The imperial power of elasticityof the public currency is wielded exclusively by the central corporationsowned by the banks. This is a life and death power over all local banksand all business. It can be used to create or destroy prosperity, to wardoff or cause stringencies and panics. By making money artificially scarce,interest rates throughout the Country can be arbitrarily raised and thebank tax on all business and cost of living increased for the profit ofthe banks owning these regional central banks, and without the slightestbenefit to the people. The 12 Corporations together cover y and monopolizeand use for private gain- every dollar of the public currency and all publicrevenue of the United States. Not a dollar can be put into circulationamong the people by their Government, without the consent of and on termsfixed by these 12 private money trusts.'

In defiance of this and all other warnings, the proponents of the Fedcreated the 12 private credit corporations and gave them an absolute monopolyof the currency of these United States- not of the Fed Notes alone- butof all other currency! The Fed Act providing ways and means by which thegold and general currency in the hands of the American people could beobtained by the Fed in exchange for Fed Notes- which are not money- butmere promises to pay.

Since the evil day when this was done, the initial monopoly has beenextended by vicious amendments to the Fed and by the unlawful and treasonablepractices of the Fed.

Money for the Scottish Distillers

Mr. Chairman, if a Scottish distiller wishes to send a cargo of Scotchwhiskey to these United States, he can draw his bill against the purchasingbootlegger in dollars and after the bootlegger has accepted it by writinghis name across the face of it, the Scotch distiller can send that billto the nefarious open discount market in New York City where the Fed willbuy it and use it as collateral for a new issue of Fed Notes. Thus theGovernment of these United States pay the Scotch distiller for the whiskeybefore it is shipped, and if it is lost on the way, or if the Coast Guardseizes it and destroys it, the Fed simply write off the loss and the governmentnever recovers the money that was paid to the Scotch distiller.

While we are attempting to enforce prohibition here, the Fed are inthe distillery business in Europe and paying bootlegger bills with publiccredit of these United States. "Mr. Chairman, by the same process, theycompel our Government to pay the German brewer for his beer. Why shouldthe Fed be permitted to finance the brewing industry in Germany eitherin this way or as they do by compelling small and fearful United StatesBanks to take stock in the Isenbeck Brewery and in the German Bank forbrewing industries? "Mr. Chairman, if Dynamit Nobel of Germany, wishesto sell dynamite in Japan to use in Manchuria or elsewhere, it can drewits bill against the Japanese customers in dollars and send that bill tothe nefarious open discount market in New York City where the Fed willbuy it and use it as collateral for a new issue of Fed Notes- while atthe same time the Fed will be helping Dynamit Nobel by stuffing its stockinto the United States banking system.

 "Why should we send our representatives to the disarmament conferenceat Geneva- while the Fed is making our Government pay Japanese debts toGerman Munitions makers?

Mr. Chairman, if a German wishes to raise a crop of beans and sellthem to a Japanese customer, he can draw a bill against his prospectiveJapanese customer in dollars and have it purchased by the Fed and get themoney out of this Country at the expense of the American people beforehe has even planted the beans in the ground. "Mr. Chairman, if a Germanin Germany wishes to export goods to South America, or any other Country,he can draw his bill against his customers and send it to these UnitedStates and get the money out of this Country before he ships, or even manufacturesthe goods.

Mr. Chairman, why should the currency of these United States be issuedon the strength of German Beer? Why should it be issued on the crop ofunplanted beans to be grown in Chili for Japanese consumption? Why shouldthese United States be compelled to issue many billions of dollars everyyear to pay the debts of one foreigner to another foreigner? "Was it forthis that our National Bank depositors had their money taken out of ourbanks and shipped abroad? Was it for this that they had to lose it? Whyshould the public credit of these United States and likewise money belongingto our National Bank depositors be used to support foreign brewers, narcoticdrug vendors, whiskey distillers, wig makes, human hair merchants, Chileanbean growers, to finance the munition factories of Germany and Soviet Russia?

THE UNITED STATES HAS BEEN RANSACKED

The United States has been ransacked and pillaged. Our structures havebeen gutted and only the walls are left standing. While being perpetrated,everything the world would rake up to sell us was brought in here at ourexpense by the Fed until our markets were swamped with unneeded and unwantedimported goods priced far above their value and make to equal the dollarvolume of our honest exports, and to kill or reduce our favorite balanceof trade. As Agents of the foreign central banks the Fed try by every meansin their power to reduce our favorable balance of trade. They act for theirforeign principal and they accept fees from foreigners for acting againstthe best interests of these United States. Naturally there has been greatcompetition among among foreigners for the favors of the Fed.

What we need to do is to send the reserves of our National Banks hometo the people who earned and produced them and who still own them and tothe banks which were compelled to surrender them to predatory interests.

Mr. Chairman, there is nothing like the Fed pool of confiscated bankdeposits in the world. It is a public trough of American wealth in whichthe foreigners claim rights, equal to or greater than Americans. The Fedare the agents of the foreign central banks. They use our bank depositors'money for the benefit of their foreign principals. They barter the publiccredit of the United States Government and hire it our to foreigners ata profit to themselves.

All this is done at the expense of the United States Government, andat a sickening loss to the American people. Only our great wealth enabledus to stand the drain of it as long as we did.

We need to destroy the Fed wherein our national reserves are impoundedfor the benefit of the foreigners. "We need to save America for Americans.

SPURIOUS SECURITIES

Mr. Chairman, when you hold a $10.00 Fed Note in your hand, you areholding apiece of paper which sooner or later is going to cost the UnitedStates Government $10.00 in gold (unless the Government is obliged to gooff the gold standard). It is based on limburger cheese (reported to bein foreign warehouses) or in cans purported to contain peas (but may containsalt water instead), or horse meat, illicit drugs, bootleggers fancies,rags and bones from Soviet Russia (of which these United States importedover a million dollars worth last year), on wines whiskey, natural gas,goat and dog fur, garlic on the string, and Bombay ducks.

If you like to have paper money- which is secured by such commodities-you have it in Fed Note. If you desire to obtain the thing of value uponwhich this paper currency is based, that is, the limburger cheese, thewhiskey, the illicit drugs, or any of the other staples- you will havea very hard time finding them.

Many of these worshipful commodities are in foreign Countries. Areyou going to Germany to inspect her warehouses to see if the specifiedthings of value are there? I think more, I do not think that you wouldfind them there if you did go.

On April 27, 1932, the Fed outfit sent $750,000 belonging to Americanbank depositors in gold to Germany. A week later another $300,000 in goldwas shipped to Germany. About the middle of May $12,000,000 in gold wasshipped to Germany by the Fed. Almost every week there is a shipment ofgold to Germany. These shipments are not made for profit on the exchangesince the German marks are blow parity with the dollar.

Mr. Chairman, I believe that the National Bank depositors of theseUnited States have a right to know what the Fed are doing with their money.There are millions of National Bank depositors in the Country who do notknow that a percentage of every dollar they deposit in a Member Bank ofthe Fed goes automatically to American Agents of the foreign banks andthat all their deposits can be paid away to foreigners without their knowledgeor consent by the crooked machinery of the Fed and the questionable practicesof the Fed.

[Ed. Note- Problem with next paragraph in original] "Mr. Chairman, theAmerican people should be told the truth by their servants in office. In1930, we had over a half billion dollars outstanding daily to finance foreigngoods stored in or shipped between several billion dollars. What goodsare these on which the Fed yearly pledge several billions of dollars. Inits yearly total, this item amounts to several billions of dollars of thepublic credit of these United States?

What goods are those which are hidden in European and Asiatic storeshave not been seen by any officer of our Government but which are beingfinanced on the public credit of the United States Government? What goodsare those upon which the 17 United States Government is being obligatedby the Fed to issue Fed Notes to the extent of several billions of dollarsa year?

The Bankers' Acceptance Racket

The Fed have been International Banks from the beginning, with theseUnited States as their enforced banker and supplier of currency. But itis none the less extraordinary to see these these twelve private creditmonopolies, buying the debts of foreigners against foreigners, in all partsof the world and asking the Government of these United States for new issuesof Fed notes in exchange for them. "The magnitude of the acceptance racketas it has been developed by the Fed, their foreign correspondents, andthe predatory European born bankers, who set up the Fed here and taughtyour own, by and of pirates, how to loot the people: I say the magnitudeof this racket is estimated to be in the neighborhood of 9,000,000,000per year. In the past ten years it is said to have amounted to $90,000,000,000.00.In my opinion it has amounted to several times that much. coupled to thisyou have to the extent of billions of dollars, the gambling in the UnitedStates securities, which takes place in the same open discount market-a gambling on which the Fed is now spending $100,000,000.00 per week.

Fed Notes are taken from the U.S. Government in unlimited quantities.Is is strange that the burden of supplying these immense sums of moneyto the gambling fraternity has at last proved too heavy for the Americanpeople to endure? Would it not be a national [calamity to] again bind downthis burden on the backs of the American people and by  means of along rawhide whip of the credit masters, compel them to enter another seventeenyears of slavery?

They are trying to do that now. They are trying to take $100,000,000.00of the public credit of the United States every week, in addition to alltheir other seizures and they are sending that money to the nefarious openmarket in a desperate gamble to reestablish their graft as a going concern.

They are putting the United States Government in debt to the extentof $100,000,000 a week, and with the money they are buying our Governmentsecurities for themselves and their foreign principals. Our people aredisgusted with the experiences of the Fed. The Fed is not producing a loafof bread, a yard of cloth, a bushel of corn, or a pile of cordwood by itscheck-kiting operations in the money market.

Mr. Speaker, on the 13th of January of this year I addressed the Houseon the subject of the Reconstruction Finance Corporation. In the courseof my remarks I made the following statement: In 1928 the member banksof the Fed borrowed $60,598,690,000. from the Fed on their fifteen-daypromissory notes. Think of it. Sixty billion dollars payable on demandin gold in the course of one single year. The actual amount of such obligationscalled for six times as much monetary gold as there is in the world. Suchtransactions represent a grant in the course of one single years of about$7,000,000 to every member of the Fed.

Is it any wonder that American labor which ultimately pays the costof all banking operations of this Country has at last proved unequal tothe task of supplying this huge total of cash and credit for the benefitof the stock market manipulators and foreign swindlers? "In 1933 the Fedpresented the staggering amount of $60,598,690,000 to its member banksat the expense of the wage earners and tax payers of these United States.In 1929, the year of the stock market crash, the Fed advanced $58,000,000,000to member banks.

In 1930 while the speculating banks were getting out of the stock marketat the expense of the general public, the Fed advanced them $13,022,782,000.This shows that when the banks were gambling on the public credit of theseUnited States as represented by the Fed currency they were subsidized toany amount they required by the Fed. When the swindle began to fall, thebankers knew it in advance and withdrew from the market. They got out withwhole skins- and left the people of these United States to pay the piper."My friend from Kansas, Mr. McGugin, has stated that he thought the Fedlent money on rediscounting. So they do, but they lend comparatively littlethat way. The real discounting that they do has been called a mere pennyin the slot business. It is too slow for genuine high flyers. They discourageit. They prefer to subsidize their favorite banks by making them $60,000,000,000advances and they prefer to acquire assistance in the notorious open discountmarket in New York, where they can use it to control the price of stocksand bonds on the exchanges.

For every dollar they advanced on discounts in 1928, they lent $33.00to their favorite banks for whom they do a business of several billiondollars income tax on their profits to these United States.

The John Law Swindle

This is the John Law swindle over again. The theft of Teapot Dome wastrifling compared to it. What King ever robbed his subject to such an extentas the Fed has robbed us? Is it any wonder that there have been latelyninety cases of starvation in one of the New York hospitals? Is there anywonder that the children are being abandoned?

The government and the people of these United States have been swindledby swindlers deluxe to whom the acquisition of American or a parcel ofFed Notes presented no more difficulty than the drawing up of a worthlessacceptance in a Country not subject to the laws of these United States,by sharpers not subject to the jurisdiction of these United States, sharperswith strong banking "fence" on this side of the water, a "fence" actingas a receiver of a worthless paper coming from abroad, endorsing it andgetting the currency out of the Fed for it as quickly as possible exchangingthat currency for gold and in turn transmitting the gold to its foreignconfederates.

Ivar Kreuger, the Match King!

Such were the exploits of Ivar Krueger, Mr. Hoover's friend, and hisrotten Wall Street bakers. Every dollar of the billions Kreuger and hisgang drew out of this Country on acceptances was drawn from the governmentand the people of the United States through the Fed. The credit of theUnited States Government was peddled to him by the Fed for their own privategain. That is what the Fed has been doing for many years.

They have been peddling the credit of this Government and the [signatureof this] Government to the swindlers and speculators of all nations. Thatis what happens when a Country forsakes its Constitution and gives itssovereignty over the public currency to private interests. Give them theflag and they will sell it.

The nature of Kreuger's organized swindle and the bankrupt conditionof Kreuger's combine was known here last June when Hoover sought to exemptKrueger's loan to Germany of $125,000,000 from the operation of the HooverMoratorium. The bankrupt condition of Krueger's swindle was known her lastsummer when $30,000,000 was taken from the American taxpayers by certainbankers in New York for the ostensible purpose of permitting Krueger tomake a loan to Colombia. Colombia never saw that money.

The nature of Krueger's swindle was known here in January when he visitedhis friend, Mr. Hoover, at the White House. It was known here in Marchbefore he went to Paris and committed suicide.

Mr. Chairman, I think the people of the United States are entitledto know how many billions of dollars were placed at the disposal of Kruegerand his gigantic combine by the Fed, and to know how much of our Governmentcurrency was issued and lost in the financing of that great swindle inthe years during which the Fed took care of Krueger's requirements.

A few days ago, the President of the United States with a white faceand shaking hands, went before the Senate of behalf of the moneyed interestsand asked the Senate to levy a tax on the people so that foreigners mightknow that these United States would pay its debt to them.

Most Americans thought it was the other way around. What does theseUnited States owe foreigners? When and by whom was the debt incurred? Itwas incurred by the Fed, when they peddled the signature of the Governmentto foreigners- for a Price. It is what the United States Government hasto pay to redeem the obligations of the Fed.

Thieves Go Scot Free

Are you going to let these thieves get off scot free? Is there onelaw for the looter who drives up to the door of the United States Treasuryin his limousine and another for the United States Veterans who are sleepingon the floor of a dilapidated house on the outskirts of Washington?

The Baltimore and Ohio Railroad is here asking for a large loan fromthe people, and the wage earners and the taxpayers of these United States.It is begging for a handout from the Government. It is standing, cap inhand, at the door of the R.F.C. where all the jackals have gathered tothe feast. It is asking for money that was raised from the people by taxationand wants this money of the poor for the benefit of Kuhn, Loeb and Co.,the German International Bankers.

Is there one law for the Baltimore and Ohio Railroad and another forthe hungry veterans it threw off its freight cars the other day? Is thereone law for sleek and prosperous swindlers who call themselves bankersand another law for the soldiers who defended the flag? "The R.F.C. istaking over these worthless securities from the Investment Trusts withUnited States Treasury money at the expense of the American taxpayer andthe wage earner.

It will take twenty years to redeem our Government. Twenty years ofpenal servitude to pay off the gambling debts of the traitorous Fed andto vast flood of American wages and savings, bank deposits, and the UnitedStates Government credit which the Fed exported out of this country totheir foreign principals.

The Fed lately conducted an anti-hoarding campaign here. They theytook that extra money which they had persuaded the American people to putinto the banks- they sent it to Europe- along with the rest. In the lastseveral months, they have sent $1,300,000,000 in gold to their foreignemployers, their foreign masters, and every dollar of that gold belongedto the people of these United States and was unlawfully taken from them.

Fiat Money

Mr. Chairman, within the limits of the time allowed me, I cannot enterinto a particularized discussion of the Fed. I have singled out the Fedcurrency for a few remarks because there has lately been some talk hereof "fiat money". What kind of money is being pumped into the open discountmarket and through it into foreign channels and stock exchanges? Mr. Millsof the Treasury has spoken here of his horror of the printing presses andhis horror of dishonest money. He has no horror of dishonest money. Ifhe had, he would be no party to the present gambling of the Fed in thenefarious open discount market of New York, a market in which the sellersare represented by 10 discount corporations owned and organized by thevery banks which own and control the Fed.

Fiat money, indeed!

What Mr. Mills is fighting for is the preservation, whole and entire,of the banker's monopoly of all the currency of the United States Government.

Mr. Chairman, last December, I introduced a resolution here askingfor an examination and an audit of the Fed and all related matters. Ifthe House sees fit to make such an investigation, the people of these UnitedStates will obtain information of great value. This is a Government ofthe people, by the people, for the people. Consequently, nothing shouldbe concealed from the people. The man who deceives the people is a traitorto these United States.

The man who knows or suspects that a crime has been committed and whoconceals and covers up that crime is an accessory to it. Mr. Speaker, itis a monstrous thing for this great nation of people to have its destiniespresided over by a traitorous government board acting in secret concertwith international usurers.

Every effort has been made by the Fed to conceal its powers- but thetruth is- the Fed has usurped the Government. It controls everything hereand it controls all of our foreign relations. It makes and breaks governmentsat will.

No man and no body of men is more entrenched in power than the arrogantcredit monopoly which operated the Fed. What National Government has permittedthe Fed to steal from the people should now be restored to the people.The people have a valid claim against the Fed. If that claim is enforcedthe Americans will not need to stand in the bread line, or to suffer anddie of starvation in the streets. Women will be saved, families will bekept together, and American children will not be dispersed and abandoned.

Here is a Fed Note. Immense numbers of the notes are now held abroad.I am told that they amount to upwards of a billion dollars. They constitutea claim against our Government and likewise a claim against our peoples'money to the extent of $1,300,000,000 which has within the last few monthsbeen shipped abroad to redeem Fed Notes and to pay other gambling debtsof the traitorous Fed. The greater part of our money stock has been shippedto other lands.

Why should we promise to pay the debts of foreigners to foreigners?Why should the Fed be permitted to finance our competitors in all partsof the world? Do you know why the tariff was raised? It was raised to shutout the flood of Fed Goods pouring in here from every quarter of the globe-cheap goods, produced by cheaply paid foreign labor, on unlimited suppliesof money and credit sent out of this Country by the dishonest and unscrupulousFed.

The Fed are spending $100,000,000 a week buying government securitiesin the open market and are making a great bid for foreign business. Theyare trying to make rates so attractive that the human hair merchants andthe distillers and other business entities in foreign land will come herand hire more of the public credit of the United States Government to paythe Fed outfit for getting it for them.

World Enslavement Planned

Mr. Chairman, when the Fed was passed, the people of these United Statesdid not perceive that a world system was being set up here which wouldmake the savings of the American school teacher available to a narcotic-drugvendor in Acapulco. They did not perceive that these United States wasto be lowered to the position of a coolie country which has nothing butraw material and heart, that Russia was destined to supply the man powerand that this country was to supply the financial power to an "internationalsuperstate". A superstate controlled by international bankers, and internationalindustrialists acting together to enslave the world for their own pleasure?

The people of these United States are being greatly wronged. They havebeen driven from their employments. They have been dispossessed from theirhomes. They have been evicted from their rented quarters. They have losttheir children. They have been left to suffer and die for lack of shelter,food, clothing and medicine.

The wealth of these United States and the working capital have beentaken away from them and has either been locked in the vaults of certainbanks and the great corporations or exported to foreign countries for thebenefit of the foreign customers of these banks and corporations. So faras the people of the United States are concerned, the cupboard is bare.

It is true that the warehouses and coal yards and grain elevators arefull, but these are padlocked, and the great banks and corporations holdthe keys.

The sack of these United States by the Fed is the greatest crime inhistory.

Mr. Chairman, a serious situation confronts the House of Representativestoday. We are trustees of the people and the rights of the people are beingtaken away from them. Through the Fed the people are losing the rightsguaranteed to them by the Constitution. Their property has been taken fromthem without due process of law. Mr. Chairman, common decency requiresus to examine the public accounts of the Government and see what crimesagainst the public welfare have been committed.

What is needed here is a return to the Constitution of these UnitedStates.

The old struggle that was fought out here in Jackson's time must befought our over again. The independent United States Treasury should bereestablished and the Government should keep its own money under lock andkey in the building the people provided for that purpose.

Asset currency, the devise of the swindler, should be done away with.The Fed should be abolished and the State boundaries should be respected.Bank reserves should be kept within the boundaries of the States whosepeople own them, and this reserve money of the people should be protectedso that the International Bankers and acceptance bankers and discount dealerscannot draw it away from them.

The Fed should be repealed, and the Fed Banks, having violated theircharters, should be liquidated immediately. Faithless Government officialswho have violated their oaths of office should be impeached and broughtto trial.

Unless this is done by us, I predict, that the American people, outraged,pillaged, insulted and betrayed as they are in their own land, will risein their wrath, and will sweep the money changers out of the temple.

Mr. Chairman, the United States is bankrupt: It has been bankruptedby the corrupt and dishonest Fed. It has repudiated its debts to its owncitizens. Its chief foreign creditor is Great Britain, and a British bailiffhas been at the White House and the British Agents are in the United StatesTreasury making inventory arranging terms of liquidations!

Great Britain, Partner in Blackmail

Mr. Chairman, the Fed has offered to collect the British claims infull from the American public by trickery and corruption, if Great Britainwill help to conceal its crimes. The British are shielding their agents,the Fed, because they do not wish that system of robbery to be destroyedhere. They wish it to continue for their benefit! By means of it, GreatBritain has become the financial mistress of the world. She has regainedthe position she occupied before the World War.

For several years she has been a silent partner in the business ofthe Fed. Under threat of blackmail, or by their bribery, or by their nativetreachery to the people of the United States, the officials in charge ofthe Fed unwisely gave Great Britain immense gold loans running into hundredsof millions of dollars. They did this against the law! Those gold loanswere not single transactions. They gave Great Britain a borrowing powerin the United States of billions. She squeezed billions out of this Countryby means of her control of the Fed.

As soon as the Hoover Moratorium was announced, Great Britain movedto consolidate her gains. After the treacherous signing away of Americanrights at the 7-power conference at London in July, 1931, which put theFed under the control of the Bank of International Settlements, Great Britainbegan to tighten the hangman's noose around the neck of the United States.

She abandoned the gold standard and embarked on a campaign of buyingup the claims of foreigners against the Fed in all parts of the world.She has now sent her bailiff, Ramsey MacDonald, here to get her war debtto this country canceled. But she has a club in her hands! She has titleto the gambling debts which the corrupt and dishonest Fed incurred abroad.

Ramsey MacDonald, the labor party deserter, has come here to compelthe President to sign on the dotted line, and that is what Roosevelt isabout to do! Roosevelt will endeavor to conceal the nature of his actionfrom the American people. But he will obey the International Bankers andtransfer the war debt that Great Britain should pay to the American people,to the shoulders of the American taxpayers.

Mr. Chairman, the bank holiday in the several States was brought aboutby the corrupt and dishonest Fed. These institutions manipulated moneyand credit, and caused the States to order bank holidays.

These holidays were frame-ups! "They were dress rehearsals for thenational bank holiday which Franklin D. Roosevelt promised Sir Ramsey MacDonaldthat he would declare.

There was no national emergency here when Franklin D. Roosevelt tookoffice excepting the bankruptcy of the Fed- a bankruptcy which has beengoing on under cover for several years and which has been concealed fromthe people so that the people would continue to permit their bank depositsand their bank reserves and their gold and the funds of the United StatesTreasury to be impounded in these bankrupt institutions.

Under cover, the predatory International Bankers have been stealthilytransferring the burden of the Fed debts to the people's Treasury and tothe people themselves. They the farms and the homes of the United Statesto pay for their thievery! That is the only national emergency that therehas been here since the depression began.

The week before the bank holiday ws declared in New York State, thedeposits in the New York savings banks were greater than the withdrawals.There were no runs on New York Banks. There was no need of a bank holidayin New York, or of a national holiday.

Roosevelt and the International Bankers

Roosevelt did what the International Bankers ordered him to do!

Do not deceive yourself, Mr. Chairman, or permit yourself to be deceivedby others into the belief that Roosevelt's dictatorship is in any way intendedto benefit the people of the United States: he is preparing to sign onthe dotted line! "He is preparing to cancel the war debts by fraud!

He is preparing to internationalize this Country and to destroy ourConstitution itself in order to keep the Fed intact as a money institutionfor foreigners. "Mr. Chairman, I see no reason why citizens of the UnitedStates should be terrorized into surrendering their property to the InternationalBankers who own and control the Fed. The statement that gold would be takenfrom its lawful owners if they did not voluntarily surrender it, to privateinterests, show that there is an anarchist in our Government.

The statement that it is necessary for the people to give their gold-the only real money- to the banks in order to protect the currency, isa statement of calculated dishonesty!

By his unlawful usurpation of power on the night of March 5, 1933,and by his proclamation, which in my opinion was in violation of the Constitutionof the United States, Roosevelt divorced the currency of the United Statesfrom gold, and the United States currency is no longer protected by gold.It is therefore sheer dishonesty to say that the people's gold is neededto protect the currency.

Roosevelt ordered the people to give their gold to private interests-that is, to banks, and he took control of the banks so that all the goldand gold values in them, or given into them, might be handed over to thepredatory International Bankers who own and control the Fed.

Roosevelt cast his lot with the usurers. "He agreed to save the corruptand dishonest  at the expense of the people of the United States.

He took advantage of the people's confusion and weariness and spreadthe dragnet over the United States to capture everything of value thatwas left in it. He made a great haul for the International Bankers.

The Prime Minister of England came here for money! He came here tocollect cash!

He came here with Fed Currency and other claims against the Fed whichEngland had bought up in all parts of the world. And he has presented themfor redemption in gold.

Mr. Chairman, I am in favor of compelling the Fed to pay their owndebts. I see no reason why the general public should be forced to pay thegambling debts of the International Bankers.

Roosevelt Seizes the Gold

By his action in closing the banks of the United States, Rooseveltseized the gold value of forty billions or more of bank deposits in theUnited States banks. Those deposits were deposits of gold values. By hisaction he has rendered them payable to the depositors in paper only, ifpayable at all, and the paper money he proposes to pay out to bank depositorsand to the people generally in lieu of their hard earned gold values initself, and being based on nothing into which the people can convert itthe said paper money is of negligible value altogether.

It is the money of slaves, not of free men. If the people of the UnitedStates permit it to be imposed upon them at the will of their credit masters,the next step in their downward progress will be their acceptance of orderson company stores for what they eat and wear. Their case will be similarto that of starving coal miners. They, too, will be paid with orders onCompany stores for food and clothing, both of indifferent quality and beforced to live in Company-owned houses from which they may be evicted atthe drop of a hat. More of them will be forced into conscript labor campsunder supervision.

At noon on the 4th of March, 1933, FDR with his hand on the Bible,took an oath to preserve, protect and defend the Constitution of the U.S.At midnight on the 5th of March, 1933, he confiscated the property of Americancitizens. He took the currency of the United States standard of value.He repudiated the internal debt of the Government to its own citizens.He destroyed the value of the American dollar. He released, or endeavoredto release, the Fed from their contractual liability to redeem Fed currencyin gold or lawful money on a parity with gold. He depreciated the valueof the national currency.

The people of the U.S. are now using unredeemable paper slips for money.The Treasury cannot redeem that paper in gold or silver. The gold and silverof the Treasury has unlawfully been given to the corrupt and dishonestFed. And the Administration has since had the effrontery to raid the countryfor more gold for the private interests by telling our patriotic citizensthat their gold is needed to protect the currency.

It is not being used to protect the currency! It is being used to protectthe corrupt and dishonest Fed. "The directors of these institutions havecommitted criminal offense against the United States Government, includingthe offense of making false entries on their books, and the still moreserious offense of unlawfully abstracting funds from the United StatesTreasury! "Roosevelt's gold raid is intended to help them out of the pitthey dug for themselves when they gambled away the wealth and savings ofthe American people.

Dictatorship

The International Bankers set up a dictatorship here because they wanteda dictator who would protect them. They wanted a dictator who would protectthem. They wanted a dictator who would issue a proclamation giving theFed an absolute and unconditional release from their special currency ingold, or lawful money of any Fed Bank.

Has Roosevelt relieved any other class of debtors in this country fromthe necessity of paying their debts? Has he made a proclamation tellingthe farmers that they need not pay their mortgages? Has he made a proclamationto the effect that mothers of starving children need not pay their milkbills? Has he made a proclamation relieving householders from the necessityof paying rent?

Roosevelt's Two Kinds of Laws

Not he! He has issued one kind of proclamation only, and that is aproclamation to relieve international bankers and the foreign debtors ofthe United States Government.

Mr. Chairman, the gold in the banks of this country belongs to theAmerican people who have paper money contracts for it in the form of nationalcurrency. If the Fed cannot keep their contracts with United States citizensto redeem their paper money in gold, or lawful money, then the Fed mustbe taken over by the United States Government and their officers must beput on trial.

There must be a day of reckoning. If the Fed have looted the Treasuryso that the Treasury cannot redeem the United States currency for whichit is liable in gold, then the Fed must be driven out of the Treasury.

Mr. Chairman, a gold certificate is a warehouse receipt for gold inthe Treasury, and the man who has a gold certificate is the actual ownerof a corresponding amount of gold stacked in the Treasury subject to hisorder.

Now comes Roosevelt who seeks to render the money of the United Statesworthless by unlawfully declaring  that it may No Longer be convertedinto gold at the will of the holder.

Roosevelt's next haul for the International Bankers was the reductionin the pay of all Federal employees.

Next in order are the veterans of all wars, many of whom are aged andinform, and other sick and disabled. These men had their lives adjustedfor them by acts of Congress determining the amounts of the pensions, and,while it is meant that every citizen should sacrifice himself for the goodof the United States, I see no reason why those poor people, these agedCivil War Veterans and war widows and half-starved veterans of the WorldWar, should be compelled to give up their pensions for the financial benefitof the International vultures who have looted the Treasury, bankruptedthe country and traitorously delivered the United States to a foreign foe.

There are many ways of raising revenue that are better than that barbaricact of injustice.

Why not collect from the Fed the amount they owe the U.S. Treasuryin interest on all the Fed currency they have taken from the Government?That would put billions of dollars into the U.S. Treasury.

If FDR is as honest as he pretends to be, he will have that done immediately.And in addition, why not compel the Fed to disclose their profits and topay the Government its share?

Until this is done, it is rank dishonesty to talk of maintaining thecredit of the U.S. Government. "My own salary as a member of Congress hasbeen reduced, and while I am willing to give my part of it that has beentaken away from me to the U.S. Government, I regret that the U.S. has suffereditself to be brought so low by the vultures and crooks who are operatingthe roulette wheels and faro tables in the Fed, that is now obliged tothrow itself on the mercy of its legislators and charwomen, its clerks,and it poor pensioners and to take money out of our pockets to make goodthe defalcations of the International Bankers who were placed in controlof the Treasury and given the monopoly of U.S. Currency by the misbegottenFed. "I am well aware that the International Bankers who drive up to thedoor of the United States Treasury in their limousines, look down withscorn upon members of Congress because we work for so little, while theydraw millions a year. The difference is that we earn, or try to earn, whatwe get- and they steal the greater part of their takings.

Enemies of the People They Rob

I do not like to see vivisections performed on human beings. I do notlike to see the American people used for experimental purposes by the creditmasters of the United States. They predicted among themselves that theywould be able to produce a condition here in which American citizens wouldbe completely humbled and left starving and penniless in the streets.

The fact that they made that assertion while they were fomenting theirconspiracy against the United States that they like to see a human being,especially an American, stumbling from hunger when he walks. "Somethingshould be done about it, they say. Five-cent meals, or something! "ButFDR will not permit the House of Representatives to investigate the conditionof the Fed. FDR will not do that. He has certain International Bankersto serve. They not look to him as the man Higher Up who will protect themfrom the just wrath of an outraged people.

The International Bankers have always hated our pensioners. A man witha small pension is a ward of the Government. He is not dependent upon themfor a salary or wages. They cannot control him. They do not like him. Itgave them great pleasure, therefore, to slash the veterans.

But FDR will never do anything to embarrass his financial supporters.He will cover up the crimes of the Fed.

Before he was elected, Mr. Roosevelt advocated a return to the earlierpractices of the Fed, thus admitting its corruptness. The Democratic platformadvocated a change in the personnel of the Fed. These were campaign bait.As a prominent Democrat lately remarked to me; "There is no new deal. Thesame old crowd is in control."

The claims of foreign creditors of the Fed have no validity in law.The foreign creditors were the receivers- and the willing receivers- ofstolen goods! They have received through their banking fences immense amountsof currency, and that currency was unlawfully taken from the United StatesTreasury by the Fed.

England discovered the irregularities of the Fed quite early in itsoperations and through fear, apparently, the Fed have for years sufferedthemselves to be blackmailed and dragooning England to share in the businessof the Fed. "The Fed have unlawfully taken many millions of dollars ofthe public credit of the United States and have given it to foreign sellerson the security of the Debt paper of foreign buyers in purely foreign transactions,and when the foreign buyers refused to meet their obligations and the Fedsaw no honest way of getting the stolen goods back into their possession,they decided by control of the executive to make the American people paytheir losses!

Conspiracy of War Debts

They likewise entered into a conspiracy to deprive the people of theU.S. of their title to the war debts and not being able to do that in theway they intended, they are now engaged in an effort to debase the Americandollar so that foreign governments will have their debts to this countrycut in two, and then by means of other vicious underhanded arrangements,they propose to remit the remainder.

So far as the U.S. is concerned, the gambling counters have no legalstanding. The U.S. Treasury cannot be compelled to make good the gamblingventures of the corrupt and dishonest Fed. Still less should the bank depositsof the U.S. be used for that purpose. Still less should the national currencyhave been made irredeemable in gold so that the gold which was massed andstored to redeem the currency for American citizens may be used to paythe gambling debts of the Fed for England's benefit. "The American peopleshould have their gold in their own possession where it cannot be heldunder secret agreement for any foreign control bank, or world bank, orforeign nation. Our own citizens have the prior claim to it. The paper[money men] have in their possession deserves redemption far more thanU.S. currency and credit which was stolen from the U.S. Treasury and bootleggedabroad.

Why should the foreigners be made preferred creditors of the bankruptU.S.? Why should the U.S. be treated as bankrupt at all? This Governmenthas immense sums due it from the Fed. The directors of these institutionsare men of great wealth. Why should the guilty escape the consequencesof their misdeeds? Why should the people of these U.S. surrender the valueof their gold bank deposits to pay off the gambling debts of these bankers?Why should Roosevelt promise foreigners that the U.S. will play the partof a good neighbor, 'meeting its obligations'?

Let the Fed meet their own obligations.

Every member of the Fed should be compelled to disgorge, and everyacceptance banker and every discount corporation which has made illegalprofits by means of public credit unlawfully bootlegged out of the U.S.Treasury and hired out by the crooks and vultures of the Fed should becompelled to disgorge.

Federal Reserve Pays No Taxes

Gambling debts due to foreign receivers of stolen goods should notbe paid by sacrificing our title to our war debts, the assets of the U.S.Treasury- which belong to all the people of the U.S. and which it is ourduty to preserve inviolate in the people's treasury.

The U.S. Treasury cannot be made liable for them. The Fed currencymust be redeemed by the Fed banks or else these Fed banks must be liquidated.

We know from assertions made here by the Hon. John N. Garner, Vice-Presidentof the U.S. that there is a condition in the [United States such] wouldcause American citizens, if they knew what it was, to lose all confidencein their government.

That is a condition that Roosevelt will not have investigated. He hasbrought with him from Wall Street, James Warburg, the son of Paul M. Warburg.Mr. Warburg, alien born, and the son of an alien who did not become naturalizedhere until several years after this Warburg's birth, is a son of a formerpartner of Kuhn, Loeb and Co., a grandson of another partner, a nephewof a former partner, and a nephew of a present partner.

He holds no office in our Government, but I am told that he is in dailyattendance at the Treasury, and that he has private quarters there! Inother words, Mr. Chairman, Kuhn, Loeb and Company now has control and occupythe U.S. Treasury.

Preferred Treatment for Foreigners

The text of the Executive order which seems to place an embargo onshipments of gold permits the Secretary of the Treasury, a former directorof the corrupt, to issue licenses at his discretion for the export of goldcoin, or bullion, earmarked or held in trust for a recognized foreign governmentor foreign central bank for international settlement. Now, Mr. Chairman,if gold held in trust for those foreign institutions may be sent to them,I see no reason why gold held in trust for American as evidenced by theirgold certificates and other currency issued by the U.S. Government shouldnot be paid to them. "I think that American citizens should be entitledto treatment at least as good as that which the person is extending toforeign governments, foreign central banks, and the bank of InternationalSettlements. I think a veteran of the world war, with a $20.00 gold certificate,is at least as much entitled to receive his own gold for it, as any internationalbanker in the city of New York or London.

By the terms of this executive order, gold may be exported if it isactually required, for the fulfillment of any contract entered into priorto the date of this order by an applicant who, in obedience to the executiveorder of April 5, 1933, has delivered gold coin, gold bullion, or goldcertificates. "This means that gold may be exported to pay the obligationsabroad of the Fed which were incurred prior to the date of the order, namely,April 20, 1933.

If a European Bank should send 100,000,000 dollars in Fed currencyto a bank in this country for redemption, that bank could easily ship goldto Europe in exchange for that currency. Such Fed currency would represent"contracts" entered into prior to the date of the order. If the Bank ofInternational Settlements or any other foreign bank holding any of thepresent gambling debt paper of the Fed should draw a draft for the settlementof such obligation, gold would be shopped to them because the debt contractwould have been entered into prior to the date of order.

Crimes and Criminals

Mr. Speaker, I rise to a question of constitutional privilege.

Whereas, I charge. . .Eugene Meyer, Roy A. Young, Edmund Platt, EugeneB. Black, Adolph Casper Miller, Charles S. Hamlin, George R. James, AndrewW. Mellon, Ogden L. Mills, William H. Woo W. Poole, J.F.T. O'Connor, membersof the Federal Reserve Board; F. H. Curtis, J.H. Chane, R.L. Austin, GeorgeDe Camp, L.B. Williams, W.W. Hoxton, Oscar Newton, E.M. Stevens, J.S. Wood,J.N. Payton, M.L. McClure, C.C. Walsh, Isaac B. Newton, Federal ReserveAgents, jointly and severally, with violations of the Constitution andlaws of the United States, and whereas I charge them with having takenfunds from the U.S  Treasury which were not appropriated by the Congressof the United States, and I charge them with having unlawfully taken over$80,000,000,000 from the U.S. Government in the year 1928, the said unlawfultaking consisting of the unlawful creation of claims against the U.S. Treasuryto the extent of over $80,000,000,000 in the year 1928; and I charge themwith similar thefts committed in 1929, 1930, 1931, 1932 and 1933, and inyears previous to 1928, amounting to billions of dollars; and

Whereas I charge them, jointly and severally with having unlawfullycreated claims against the U.S. Treasury by unlawfully placing U.S. Governmentcredit in specific amounts to the credit of foreign governments and foreigncentral banks of issue; private interests and commercial and private banksof the U.S. and foreign countries, and branches of foreign banks doingbusiness in the U.S., to the extent of billions of dollars; and with havingmade unlawful contracts in the name of the U.S. Government and the U.S.Treasury; and with having made false entries on books of account; and

Whereas I charge them jointly and severally, with having taken FedNotes from the U.S. Treasury and with having put Fed Notes into circulationwithout obeying the mandatory provision of the Fed Act which requires theFed Board to fix an interest rate on all issues of Fed Notes supplied toFed Banks, the interest resulting therefrom to be paid by the Fed Banksto the government of the U.S. for the use of the Fed Notes, and I chargethem of having defrauded the U.S. Government and the people of the U.S.of billions of dollars by the commission of this crime, and

Whereas I charge them, jointly and severally, with having purchasedU.S. Government securities with U.S. Government credit unlawfully takenand with having sold the said U.S. Government securities back to the peopleof the U.S. for gold or gold values and with having again purchased U.S.Government securities with U.S. Government credit unlawfully taken andwith having again sold the said U.S. Government security for gold or goldvalues, and I charge them with having defrauded the U.S. Government andthe people of the U.S. by this rotary process; and

Whereas I charge them, jointly and severally, with having unlawfullynegotiated U.S. Government securities, upon which the Government liabilitywas extinguished, as collateral security for Fed Notes and with havingsubstituted such securities for gold which was being held as collateralsecurity for Fed Notes, and with having by the process defrauded the U.S.Government and the people of the U.S., and I charge them with the theftof all the gold and currency they obtained by this process; and

Whereas I charge them, jointly and severally, with having unlawfullyissued Fed currency on false, worthless and fictitious acceptances andother circulating evidence of debt, and with having made unlawful advancesof Fed currency, and with having unlawfully permitted renewals of acceptancesand renewals of other circulating evidences of debt, and with having permittedacceptance bankers and discount dealer corporations and other private bankersto violate the banking laws of the U.S.; and

Whereas I charge them, jointly and severally, with having conspiredto have evidences of debt to the extent of $1,000,000,000 artificiallycreated at the end of February, 1933, and early in March 1933, and withhaving made unlawful issues and advances of Fed currency on the securityof said artificially created evidences of debt for a sinister purpose,and with having assisted in the execution of said sinister purpose; and

Whereas I charge them, jointly and severally, with having brought aboutthe repudiation of the currency obligations of the Fed Banks to the peopleof the U.S. and with having conspired to obtain a release for the Fed Boardand the Fed Banks from their contractual liability to redeem all Fed currencyin gold or lawful money at the Fed Bank and with having defrauded the holdersof Fed currency, and with having conspired to have the debts and lossesof the Fed Board and the Fed Banks unlawfully transferred to the Governmentand the people of the U.S., and

Whereas I charge them, jointly and severally, with having unlawfullysubstituted Fed currency and other irredeemable paper currency for goldin the hands of the people after the decision to repudiate the Fed currencyand the national currency was made known to them, and with thus havingobtained money under false pretenses; and

Whereas I charge them, jointly and severally, with having brought abouta repudiation of the notes of the U.S. in order that the gold value ofthe said currency might be given to private interests, foreign governments,foreign central banks of issues, and the Bank of International Settlements,and the people of the U.S. to be left without gold or lawful money andwith no currency other that a paper currency irredeemable in gold, andI charge them with having done this for the benefit of private interests,foreign governments, foreign central banks of issue, and the bank of InternationalSettlements; and

Whereas I charge them, jointly and severally, with conniving with theEdge Law banks, and other Edge Law institutions, accepting banks, and discountcorporations, foreign central banks of issue, foreign commercial banks,foreign corporations, and foreign individuals with funds unlawfully takenfrom the U.S. Treasury; and I charge them with having unlawfully permittedand made possible 'new financing' for foreigners at the expense of theU.S. Treasury to the extent of billions of dollars and with having unlawfullypermitted and made possible the bringing into the United States of immensequantities of foreign securities, created in foreign countries for exportto the U.S. and with having unlawfully permitted the said foreign securitiesto be imported into the U.S. instead of gold, which was lawfully due tothe U.S. on trade balances and otherwise, and with having lawfully permittedand facilitated the sale of the said foreign securities in the U.S., and

Whereas I charge them, jointly and severally, with having unlawfullyexported U.S. coins and currency for a sinister purpose, and with havingdeprived the people of the U.S. of their lawful  medium of exchange,and I charge them with having arbitrarily and unlawfully reduced the amountof money and currency in circulation in the U.S. to the lowest rate percapita in the history of the Government, so that the great mass of thepeople have been left without a sufficient medium of exchange, and I chargethem with concealment and evasion in refusing to make known the amountof U.S. money in coins and paper currency exported and the amount remainingin the U.S. as a result of which refusal the Congress of the U.S. is unableto ascertain where the U.S. coins and issues of currency are at the presenttime, and what amount of U.S. currency is now held abroad; and

Whereas I charge them, jointly and severally, with having arbitrarilyand unlawfully raised and lowered the rates of money and with having arbitrarilyincreased and diminished the volume of currency in circulation for thebenefit of private interests at the expense of the Government and the peopleof the U.S. and with having unlawfully manipulated money rates, wages,salaries and property values both real and personal, in the U.S. by unlawfuloperations in the open discount market and by resale and repurchase agreementsunsanctioned by law, and

Whereas I charge them jointly and severally, with having brought aboutthe decline in prices on the New York Stock Exchange and other exchangesin October, 1929, by unlawful manipulation of money rates and the volumeof U.S. money and currency in circulation: by theft of funds from the U.S.Treasury by gambling in acceptances and U.S. Government securities; byservice rendered to foreign and domestic speculators and politicians, andby unlawful sale of U.S. gold reserves abroad, and

Whereas the unconstitutional inflation law imbedded in the so-calledFarm Relief Act by which the Fed Banks are given permission to buy U.S.Government securities to the extent of $3,000,000,000 and to drew forthcurrency from the people's Treasury to the extent of $3,000,000,000 islikely to result in connivance on the part of said accused with othersin the purchase by the Fed of the U.S. Government securities to the extentof $3,000,000,000 with U.S. Government's own credit unlawfully taken, itbeing obvious that the Fed do no not intend to pay anything of value tothe U.S. Government for the said U.S. Government securities no provisionfor payment in gold or lawful money appearing in the so-called Farm Reliefbill- and the U.S. Government will thus be placed in a position of conferringa gift of $3,000,000,000 in the U.S. Government securities on the Fed toenable them to pay more on their bad debts to foreign governments, foreigncentral banks of issue, private interests, and private and commercial banks,both foreign and domestic, and the Bank of International Settlements, and

Whereas the U.S. Government will thus go into debt to the extent of$3,000,000,000 and will then have an additional claim of $3,000,000,000in currency unlawfully created against it and whereas no private interestshould be permitted to buy U.S. Government securities with the Government'sown credit unlawfully taken and whereas currency should not be issued forthe benefit of said private interest or any interests on U.S. Governmentsecurities so acquired, and whereas it has been publicly stated and notdenied that the inflation amendment of the Farm Relief Act is the matterof benefit which was secured by Ramsey MacDonald, the Prime Minister ofGreat Britain, upon the occasion of his latest visit to the U.S. Treasury,and whereas there is grave danger that the accused will employ the provisioncreating U.S. Government securities to the extent of $3,000,000,000 andthree millions in currency to be issuable thereupon for the benefit ofthemselves and their foreign principals, and that they will convert thecurrency so obtained to the uses of Great Britain by secret arrangementswith the Bank of England of which they are the agents, and for which theymaintain an account and perform services at the expense of the U.S. Treasury,and that they will likewise confer benefits upon the Bank of InternationalSettlements for which they maintain an account and perform services atthe expense of the U.S. Treasury; and

Whereas I charge them, jointly and severally, with having concealedthe insolvency of the Fed and with having failed to report the insolvencyof the Fed to the Congress and with having conspired to have the said insolventinstitutions continue in operation, and with having permitted the saidinsolvent institutions to receive U.S. Government funds and other deposits,and with having permitted them to exercise control over the gold reservesof the U.S. and with having permitted them to transfer upward of $100,000,000,000of their debts and losses to the general public and the Government of theU.S., and with having permitted foreign debts of the Fed to be paid withthe property, the savings, the wages, and the salaries of the people ofthe U.S. and with the farms and the homes of the American people, and whereasI charge them with forcing the bad debts of the Fed upon the general publiccovertly and dishonestly and and with taking the general wealth and savingsof the people of the U.S. under false pretenses, to pay the debts of theFed to foreigners; and

Whereas I charge them, jointly and severally, with violations of theFed Act and other laws; with maladministration of the h evasions of theFed Law and other laws; and with having unlawfully failed to report violationsof law on the part of the Fed Banks which, if known, would have causedthe Fed Banks to lose their charters, and

Whereas I charge them, jointly and severally, with failure to protectand maintain the gold reserves and the gold stock and gold coinage of theU.S. and with having sold the gold reserves of the U.S to foreign Governments,foreign central banks of issue, foreign commercial and private banks, andother foreign institutions and individuals at a profit to themselves, andI charge them with having sold gold reserves of the U.S. so that between1924 and 1928 the U.S. gained no gold on net account but suffered a declinein its percentage of central gold reserves from the 45.9 percent in 1924to 37.5 percent in 1928 notwithstanding the fact that the U.S. had a favorablebalance of trade throughout that period, and

Whereas I charge them, jointly and severally, with having conspiredto concentrate U.S. Government securities and thus the national debt ofthe U.S. in the hands of foreigners and international money lenders andwith having conspired to transfer to foreigners and international moneylenders title to and control of the financial resources of the U.S.; and

Whereas I charge them, jointly and severally, with having fictitiouslypaid installments on the national debt with Government credit unlawfullytaken; and

Whereas I charge them, jointly and severally, with the loss of theU.S. Government funds entrusted to their care; and

Whereas I charge them, jointly and severally, with having destroyedindependent banks in the U.S. and with having thereby caused losses amountingto billions of dollars to the said banks, and to the general public ofthe U.S., and

Whereas I charge them, jointly and severally, with the failure to furnishtrue reports of the business operations and the true conditions of theFed to the Congress and the people, and having furnished false and misleadingreports to the congress of the U.S., and

Whereas I charge them, jointly and severally, with having publishedfalse and misleading propaganda intended to deceive the American peopleand to cause the U.S. to lose its independence; and

Whereas I charge them, jointly and severally, with unlawfully allowingGreat Britain to share in the profits of the Fed at the expense of theGovernment and the people of the U.S.; and

Whereas I charge them, jointly and severally, with having entered intosecret agreements and illegal transactions with Montague Norman, Governorof the Bank of England; and

Whereas I charge them, jointly and severally, with swindling the U.S.Treasury and the people of the U.S. in pretending to have received paymentfrom Great Britain of the amount due on the British ware debt to the U.S.in December, 1932; and

Whereas I charge them, jointly and severally, with having conspiredwith their foreign principals and others to defraud the U.S. Governmentand to prevent the people of the U.S. from receiving payment of the wardebts due to the U.S. from foreign nations; and

Whereas I charge them, jointly and severally, with having robbed theU.S Government and the people of the U.S. by their theft and sale of thegold reserves of the U.S. and other unlawful transactions created a deficitin the U.S. Treasury, which has necessitated to a large extent the destructionof our national defense and the reduction of the U.S. Army and the U.S.Navy and other branches of the national defense; and

Whereas I charge them, jointly and severally, of having reduced theU.S. from a first class power to one that is dependent, and with havingreduced the U.S. from a rich and powerful nation to one that is internationallypoor; and

Whereas I charge them, jointly and severally, with the crime of havingtreasonable conspired and acted against the peace and security of the U.S.and with having treasonable conspired to destroy constitutional Governmentin the U.S.

Resolve, That the Committee on the Judiciary is authorized and directedas a whole or by subcommittee, to investigate the official conduct of theFed agents to determine whether, in the opinion of the said committee,they have been guilty of any high crime or misdemeanor which in the contemplationthe Constitution requires the interposition of the Constitutional powersof the House. Such Committee shall report its finding to the House, togetherwith such resolution or resolutions of impeachment or other recommendationsas it deems proper.

For the purpose of this resolution the Committee is authorized to sitand act during the present Congress at such times and places in the Districtof Columbia or elsewhere, whether or not the House is sitting, has recessedor has adjourned, to hold such clerical, stenographic, and other assistants,to require of such witnesses and the production of such books, papers,and documents, to take such testimony, to have such printing and bindingdone, and to make such expenditures as it deems necessary."

After some discussion and upon the motion of Mr. Byrns, the resolutionand charge was referred to the Committee on the Judiciary.

"Attacks on McFadden's Life Reported"

Commenting on Former Congressman Louis T. McFaddens's "heart-failuresudden-death" on Oct. 3, 1936, after a "dose" of "intestinal flu," "Pelley'sWeekly" of Oct. 14 said: