Replies to post #4667 on NO QUARTER FOR CORRUPTION (Focussing on The Fed./F

[bartermania]

ibox/material/edit: http://home.hiwaay.net/~becraft/mcfadden.html
http://www.investorshub.com/boards/read_msg.asp?message_id=9483782 Looks like some of the words get mispelled in copying and so on. In all cases, the original version...unedited should be sought...with all of these documents on this board.)->bk & photo of/about L.T.M. http://www.investorshub.com/boards/read_msg.asp?Message_id=12057556&txt2find=louis

(Some more excerpts from this article)...
"A few days before the bill came to a vote, Senator Henry Cabot Lodge, of Massachusetts, wrote to Senator John W. Weeks as follows:

New York City,
December 17, 1913
"'My Dear Senator Weeks:
"'Throughout my public life I have supported all measures designed to take the Government out of the banking business. This bill puts the Government into the banking business as never before in our history. "'The powers vested in the Federal Reserve Board seen to me highly dangerous especially where there is political control of the Board. I should be sorry to hold stock in a bank subject to such dominations. The bill as it stands seems to me to open the way to a vast inflation of the currency. "'I had hoped to support this bill, but I cannot vote for it cause it seems to me to contain features and to rest upon principles in the highest degree menacing to our prosperity, to stability in business, and to the general welfare of the people of the United States.

Very Truly Yours,
Henry Cabot Lodge.'"

The Scheme of the Fed
"In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made the following statement: "The whole scheme of the Fed with its commercial paper is an impractical, cumbersome machinery- is simply a cover to secure the privilege of issuing money, and to evade payment of as much tax upon circulation as possible and then control the issue and maintain, instead of reducing interest rates. It will prove to the advantage of the few and the detriment of the people. It will mean continued shortage of actual money and further extension of credits, for when there is a shortage of money people have to borrow to their cost.' "A few days before the Fed passed, Senator Root denounced the Fed as an outrage on our liberties. He predicted: 'Long before we wake up from our dream of prosperity through an inflated currency, our gold- which alone could have kept us from catastrophe- will have vanished and no rate of interest will tempt it to return.'

"If ever a prophecy came true, that one did.