Download Category: Money

AS THE FINANCIAL CRISIS WORSENS IN AMERICA and across the globe, people want to know: “When did it all start”? In fact, the privately owned Federal Reserve Bank in the United States is a spin off of the Bank of England, established in the 1694. And, as the earl of Anglesey presciently observed in 1658: “It is dangerous to the peace of the kingdom when it shall be in the power of half a dozen or half a score of rich, discontented or fac­tious persons to make [an accumulation] of our own coin and bullion beyond the seas and leave us in want of money when it shall not be in the king’s power to prevent it.”

From A.D. 757 to his death in 791, the great King Offa (above) ruled the kingdom of Mercia,[1] one of the seven autonomous kingdoms of the Anglo-Saxon heptarchy.

Offa was a wise and able administrator and a kind­hearted leader, though he could be hard on his enemies. He established the first monetary system in England (as distinguished from Romano-Keltic Britain). On account of the scarcity of gold, he used silver for coinage and as a store of wealth. The standard unit of exchange was a pound of silver, divided into 240 pennies. The pennies were stamped with a star (Old English stearra), from which the word “sterling” is derived. In 787 Offa intro­duced a statute prohibiting usury: charging of interest on money lent.

A CAREFUL WATCH ON THE EVENTS OF A QUARTER OF A CENTURY has convinced me that the vicious social developments of the nineteenth century were abnormal and were due to an artificial, and therefore removable, cause.  That the cause is deep, insidious and subtle goes without saying :  had it been obvious it would have been easily discovered.

Nowhere have I seen a full text of Magna Charta, which so illuminates the times of the Normans, save in a translation of a French History of England; the book came from Beckford’s library and was in a fisherman’s cottage.  It is curious that in a translation of a Dutch work have I discovered the best historical account of the Bank of England.  I refer to Bisschop’s Rise of the London Money Market.  But for that work I must have apologized for the slenderness of the early history in this book.  Bisschop’s work makes an apology unnecessary ;  it is needless to multiply labour: where he leaves off the argument of this book commences.

In chapter iii, part I, Bisschop observes :–

“About this time [1780] the Bank [of England] adopted the unfortunate theory that the note circulation should be contracted simultaneously with an efflux of gold from the Bank, in order to bring about a reflux of the specie withdrawn, owing to the scarcity of circulating medium created by this action.  The author of this idea was Mr. Bosanquet.”

It is also noted:

“The theory, as amended [i.e., that the currency should vary with the foreign exchanges], found its way into the Bank Act of 1844.”

“BIBLE BILL” WILLIAM ABERHART, THE SOCIAL CREDIT PARTY PREMIER OF ALBERTA FROM 1935-1943, died just two weeks after he urged his listeners to  “oppose, expose and resist by every means in your power this audacious and evil conspiracy by the Money Powers to set up a World Slave State.”
He noticed that since 1939, “there has been a steady stream of propaganda, carefully organized and well-financed, to win support for setting up a World Federation of Nations under an International authority.”

Aberhart- “There is absolutely no question about it that this plot, this evil conspiracy; to set up an international totalitarian dictatorship with control over every aspect of our lives and armed with overwhelming forces to impose their will upon us, can be traced to that small group of men which comprise International Finance….”

In the forward to Tom’s second book, The American Voters Vs. The Bank Tom says, “I know God called me to get the banking mes­sage out to the nation. I do not claim to do this from my power but rather from the authority, power and provision of God’s anointing in my life.” Since March of 1998, I began reading Tom’s books and listening to his audio tapes, and frequently heard Torn on shortwave radio as I tried to get alternative news about what is really going on in this country. After confirming Tom’s information by my own research, and participating in Tom’s weekly conference calls, it became apparent that it was time for me to take an active part in assisting Tom in his calling.

In a recent phone call with Tom, he wondered why he had been missing some important financial exchanges in his most recent venture. He realized that God wanted this Manual completed first! It appears to me that God is ready NOW to begin the fulfillment of the Vision described in Habakkuk 2:

“Then the Lord answered me and said “Record the vision, and inscribe it on tablets, that the one who reads it may run. For it is yet for the appointed time; it hastens toward the goal, and it will not fail. Though it tarries, wait for it: for it will certainly come, it wilt not delay…

FOR YEARS THE AMERICAN COLONIES ENJOYED GREAT PROSPERITY they created their own money interest and debt free and taxation was small. The “English” Bankers were determined to bring the colonies under their sway. The colonists became exasperated with the re­peated attempts to impose taxes on them and in 1775 war broke out and on the 4th July 1776 they proclaimed their own independence.

In his book ‘A Matter Of Life Or Debt’ Eric de Mere relates how on a visit to England, Benjamin Franklin was appalled at the poverty he saw everywhere. He was asked how he accounted for the great prosperity of the American colonies and he replied: “It is be­cause we issue our own paper money. We call it Colonial Scrip and we issue enough to move all goods freely from the producers to the consumers and, as we create our own money, we control the purchasing power of money and have no interest to pay.” When this information reached the “English” Bankers they at once caused a Bill to be passed in Parliament forbidding the use’ of this Scrip Money.

Franklin stated that this “was the cause of the Revolution” and added, “The colonies would gladly have borne the little insignificant tax on tea and other articles, had it not been for the poverty amongst them caused by the “English” Bankers’ influence in Parliament.” The famous Parliamentarian Edmund Burke also confirmed this view.

FOR two years past the author has awaited the auspicious moment for presenting to the public his views upon the oppressions and abuses practiced by corporations and combinations of men who are apparently getting a controlling influence over the commerce, finances, and government of the country.  Recent action on the part of the people has convinced him that his opportunity has come, and he embraces it.  He has aimed to present a true history of the operations of the different monopolies.

Since he began the preparation of his work, some events have taken place not noticed by him.  Oakes Ames and James Brooks, two prominent characters among railroad men, and whom he has had occasion to name, have died.  Some changes in the laws of congress have been made affecting the interests of corporations.  The law requiring the secretary of the treasury to retain but one-half of the earnings from the government of the Pacific roads to apply on the interest due to government on subsidy bonds, has been repealed, and he may now retain and apply the whole amount.  Suit has also been brought against the Union Pacific company because of its dishonest practices.

On the whole, however, combinations of corporations, and other rings and organizations, at war with the best interests of the people, have acquired new strength and more power within the last few months.

The reader will notice the fact, that while the author has quoted liberally from the statutes and resolves of congress to show the great privileges and powers conferred upon railroad companies, and familiarized the reader with their financial and other transactions for a clear understanding of their manner of doing business, he has not pretended to give a full history;  satisfying himself with such chapters as would place before the public the true character of these monopolies.

The author has sought to present truthful statements of matters in connection with the various interests now so hostile to the rights of the people, and he believes he has embodied the facts as they exist. D.C.C. MUSCATINE, IOWA, July 28, 1873.

THE FINAL DEDUCTIONS in this treatise, and in particular the relating of the Final Act of Bretton Woods to the financial policy which led to the foundation and perversion of the U.S. Federal Reserve Board, are the author’s own, for which he must not fasten any responsibility upon his authorities. Those readers, however, who wish to check the facts from which the deductions are made may be recommended to the following works: “All These Things” and “The Truths About The Slump,” by A. N. Field; “The Bankers’ Conspiracy” and “A Fraudulent Standard,” by Arthur Kitson; “Analysis of Usury” and “The Modern Idolatry,” by Jeffrey Mark; “The Mystical Body of Christ and the Reorganisa­tion of Society,” by Father Denis Fahey; “The Money Illusion,” by Professor Irving Fisher; “The Two Nations” and “The Breakdown of Money,” by Christopher Hollis; “Post-War Monetary Stabilisation,” by Professor Gustav Cassel; “America Conquers Britain,” by Ludwell Denny; “The Brief for the Prosecution,” by Major C. H. Douglas; and the volume is of Hansard covering the debate on the Loan Agreement. Another book, “The Economics of Human Happiness,” by W. Collin Brooks, although it draws none of the conclusions here set down, and indeed draws some which are at variance with them, is never­theless well worth reading because of the wonderful lucidity with which its author deals with perversions of the monetary system.

DID EVER A MAN OF WEALTH have more in panegyrics than that conquering money hero of these present times, J. Pierpont Morgan?  Long since, his fame was trumpeted to the four quarters of the earth.  His copious praises have been chanted with an extravagance that in the case of anyone else would have been rejected as turgid.  Most mighty patriot and unexcelled public-spirited citizen, great financier and noble philanthropist, marvellous “captain of industry” and conservator of the social structure, friend of kings, and king among men — these are but a selected few of the apotheoses too often seriously accepted by the people at large.  One writer in particular, raptly reaching up for a large expression of homage, has touched almost the climax of adoration in emblazoning him, “Morgan the Magnificent.”1

MORGAN’S EXQUISITE REPUTATION.

Many a hired or acquiescent scribe, plying well his trade, has reeled out his effusions ;  and the total of these has produced a certain settled, aggregate public opinion which looks up to Morgan with unabated awe and adoration.  In the firmament of wealth no man shines out more dazzlingly than he.

NOTHING, they say, is more certain but death, and nothing more uncertain than the time of dying; yet we can always fix a period beyond which man cannot live, and within some moment of which he will die.

We are enabled to do this, not by any spirit of prophecy, or foresight into the event, but by observations of what has happened in all cases of human or animal existence. If then
any other subject, such, for instance, as a system of finance, exhibits in its progress a series of symptoms indicating decay, its final dissolution is certain, and the period of it can be calculated from the symptoms it exhibits.

Those who have hitherto written on the English system of finance (the funding system) have been uniformly impressed with the idea of its downfall happening some time or other. They took, however, no data for that opinion, but expressed it predictively, or merely as opinion, from a conviction that the perpetual duration of such a system was a natural impossibility. It is in this manner that Dr. Price has spoken of it; and Smith, in his Wealth of Nations, has spoken in the same manner; that is, merely as opinion without data.

The progress, says Smith, is of the enormous debts, which at present oppress, and will in the long-run most probably ruin, all the great nations of Europe, (he should have said governments) has been pretty uniform. But this general manner of speaking, though it might make some impression, carried with it no conviction.

It is not my intention to predict any thing; but I will shew from data already known, from symptoms and facts which the English funding system has already exhibited publicly, that it will not continue to the end of Mr. Pitt’s life, supposing him to live the usual age of a man. How much sooner it may fall, I leave to others to predict.

Let financiers diversify systems of credit as they will, it is nevertheless true, that every system of credit is a system of paper money. Two experiments have at ready been had upon paper money; the one in America, the other in France. In both those cafes the whole capital was emitted, and the whole capital, which in America was called continental money, and in France assignats, appeared in circulation; the consequence of which was, that the quantity became so enormous, and so disproportioned to the quantity of population, and to the quantity of objects upon which it could be employed, that the market, if I may so express it, was glutted with it, and the value of it fell.

Information about the arms of the City of London from the earliest times to the present day is given below.
The earliest specific mention of the armorial bearings of the City of London appears on 17 April 1381, when it was ordered that the old mayoralty seal should be broken as it was “ill-befitting the honour of the City”. St Thomas Becket and St Paul featured in the design of the old seal and they were also incorporated in the new one. A contemporary description records that it was commissioned by the Mayor, William Walworth, and depicted “beneath the feet of the said figures a shield of the arms of the said City … with two lions guarding the same”. The shield contains a cross charged with a dagger or sword in its first quarter and is similar to the modern design.
This evidence means that the popular belief that the dagger or sword represents the weapon with which Walworth killed the rebel, Wat Tyler, during the Peasants’ Revolt cannot be true. The seal was designed and executed several months before Tyler’s death in June 1381 and the sword almost certainly represents the sword of St Paul.