Pound had unearthed the 4 chapters from laborious search of 4 presidents who evidently exposed usurocracy in an uncomprehending way to a dumbounded and bewildered majority .
I find interesting the comment of Hamilton's affinity withv the talents of Disraeli.
John Adams exclaimed in his old age : Every bank of discount is downright corruptiontaxing the public for private individuals’ gain.and if I say this in my willthe American people wd/ pronounce I died crazy. QUOTE
I find this quote also very revealing.
The theatrical gesture of the assassin does not explain how it happened that he escaped from Washington, after the alarm had been raised, by the only road that was not guarded; nor its synchronization with the attempted assassination of Seward, the Secretary of State, nor various other details of the affair. Lincoln;'s role in unmasking of usorocracy and the escape of the assassin Booth . These synchronize? One wonders if the two are not fortuitous events and are somehow connected.
In Two Continents
Every revolution is betrayed.
The story of the
young American Republic may serve, to a certain extent, as a warning to the
Italian Republic of to-day,
just as any other exact knowledge of history may be useful to the understanding
of the historical process in times of crisis.
The victory of the American
armies, Lord Cornwallis’s surrender, etc., did not end the secular war between
producer and usurer which continued, if somewhat subduedly, without the
slightest truce. The idea that a war might ever have abolished interest on
debt was regarded with irony by one of the “Fathers of the Republic.”
After a few skirmishes between advance patrols, there came an action in the
grand style, now known as the “Scandal of the Assumption.” The manœuvre
was classic. The soldiers of the Revolution had been paid by the various
colonies in paper-money that recognized the debt of the colony to the
veteran. These “certificates of indebtedness” began to lose their
purchasing-power, which fell to twenty per cent. of the face value. A
hundred dollars in certificates were worth only twenty. At a certain
moment twenty-nine members of the National Congress, in league with their
friends, bought up large quantities of the certificates. After this
action, the Nation, now newly organized as an executive unit, “assumed” the
responsibility of paying them at par. (Claude G. Bowers, former U.S.
Ambassador in Spain, gives the details in his Jefferson and
Hamilton’s racial origins have never been determined with
certainty, though his eloquence, suavity, and drawing-room talents suggest a
certain affinity with the abilities of Disraeli. Jefferson, who opposed
Hamilton’s manoeuvres, pinned his faith on the Secretary of the Treasury,
Gallatin, of “Swiss” origin. A certain prejudice was aroused against
Gallatin, but Jefferson insisted that he was the “most able man in the
administration after the President” (i.e., after himself).
professed not to understand agriculture (adding deferentially : but Mr.
Madison—he does). He claimed a certain ignorance of economics. He
insisted that the bank was useful because it gave “ubiquity” to Gallatin’s
money. And, in fact, the bank gave it this ubiquity. Giving ubiquity
to purchasing-power is one of the perfectly legitimate and very useful functions
of banks. But to temper any exaggerated admiration of the workings of
usurocratic procedures that may have become sanctified by habit, we may note
that John Adams exclaimed in his old age :
Every bank of discount is
downright corruptiontaxing the public for private individuals’ gain.and if I say
this in my willthe American people wd/ pronounce I died crazy.
ten years ago I had occasion to condense the introductory study of American
history into a “book” of less than thirty lines. This book shows that
Jefferson was less ignorant of finance and money than his modesty would have
pretended. Here are my four chapters :
perplexities, confusion, and distress in America arise, not from defects in
their Constitution or confederation, not from want of honor or virtue, so much
as from downright ignorance of the nature of coin, credit, and circulation,John
... and if the national bills issued be bottomed (as is indispensable) on
pledges of specific taxes for their redemption within certain and moderate
epochs, and be of proper denominations for circulation, no interest on them
would be necessary or just, because they would answer to every one the purposes
of the metallic money withdrawn and replaced by them.Thomas Jefferson (Letter to
Crawford, 1816 July 20)CHAPTER
... and gave the people of this Republic the greatest blessing they ever
had—their own paper to pay their own debts.Abraham LincolnCHAPTER
The Congress shall have Power ...
To coin Money, regulate the Value
thereof, and of foreign Coin, and fix the Standard of Weights and
Measures;(Constitution of the United States, Article I Legislative Department,
Section 8, clause 5)done in Convention by the Unanimous Consent of the States
present the Seventeenth Day of September in the Year of our Lord one thousand
seven hundred and Eighty seven and of the Independence of the United States of
America the TwelfthIn witness whereof We have hereunto subscribed our
Names,George Washington—President and deputy from Virginia
It should be noted
that only the last of these statements is to be found in a publication easily
accessible to the great majority of the citizens of the great but denatured
democracy. The American Constitution, from which it is taken, is written
in a style that is not very attractive to the average reader. The
key-phrases come a long way after the beginning and the citizen gets bored
before he catches up with them. For years, now, Congress has taken no
notice of the powers it has been invested with by this Document. Now and
then some crank from Nebraska or Dakota raises an uncouth voice to demand a
little of the liberty proclaimed by the Fathers of the Republic, but the roar of
the rotary presses soon drowns such rustic vociferations.
One day, thinking
of the trouble it had cost me to unearth these four “chapters,” I asked the head
of the American history department of the Library of Congress if there existed a
history of America, whether in one volume or in ten, that contained these four
chapters, or the substance of them.
After reflecting for a while he replied
that so far as he knew I was the first to have brought together and in relation
to each other the four great names of the greatest presidents of the
Lincoln was assassinated after he made the statement given
The theatrical gesture of the assassin does not explain how it
happened that he escaped from Washington, after the alarm had been raised, by
the only road that was not guarded; nor its synchronization with the
attempted assassination of Seward, the Secretary of State, nor various other
details of the affair. The fact remains that Lincoln had assumed a
position in clear opposition to the usurocracy.
Thursday, December 10, 2009