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336.73 Butler, Fabius Melton
Lincoln Money Martyred
I FRED LOCKLEY
RARE WESTERN BOOKS
4227 S. E. Stark St.
UNIVERSITY OF ILLINOIS
LINCOLN MONEY MARTYRED
DR. R. E. SEARCH
LINCOLN PUBLISHING COMPANY
Medical Arts Building
Lincoln Publishing Company
Medical Arts Building
Chap. 1 — The Search for the Cause of Depressions Begins 5
Chap. 2 — The Birth of Money 8
The Birth of Usury 9
The Cause of Pogroms and Most Revolutions 10
Chap. 3 — The Abuse of the Use of Money 12
Israelites - 12
History of Money 15
Ancient Greece _ 16
Jesus and the Money Changers 23
The Early Protestant Leaders on Usury 27
In Early England 27
Chap. 4 — A History of Money and Banking in Early Europe 28
Bank of Venice 29
The Bank of Genoa 29
The Bank of Amsterdam 30
The Bank of Hamburg 30
Usury the Persistent Cause of Sin and Crime 32
Chap. 5 — History of the Origin of the Bank of England 34
The English Banking System Founded 35
Chap. 6 — The English or Money Changers' System Started
in the United States 36
Alexander Hamilton 37
Chap. 7— The Birth of Lincoln Full Legal Tender Money 44
Lincoln's Letter to Colonel Taylor _ _ 45
Chap. 8 — The Foreign Money Changer Kills "America's
Greatest Blessing" 46
The Exception Clause 46
The Hazard Circular 47
Chap. 9 — The Money Changers Get Another Bank Law 50
The National Banking Act 51
Rothschild's Letters — . 51
Senator Sherman Tells Rothschild About Bank Law 51
Ikleheimer's Letter 52
Chap. 10 — The National Banks Established 55
What Secretary Chase Said of National Bank Law 56
Lincoln's Gettysburg Address..— 57
Lincoln's Letter to Mrs. Bixby 58
Chap. 11— The Civil War Ends 58
The Money Changers Start Action Again — Greenbacks Destroyed.. 59
The Effect of Greenback Destruction 60
The Credit Strengthening Act 64
Chap. 12— The Gold Standard Established and Silver Coinage
Killed— or "The Crime of '73" 65
Luckenbach's Letters _ 66
The Demonetizing Act 71
Chap. 13 — The People Clamor for More Money 72
The Money Changers Give Their Orders 73
A Bank Letter 73
Chap. 14 — The Money Changers Order a Panic 74
Another Bank Letter 74
Chap. 15 — Another Valiant Lindbergh 76
From Lindbergh's Book ~ 77
Chap. 16 — The Money Changers Add Another Link to the Golden Chain 79
Chap. 17 — The Federal Reserve 81
Privileges of the Federal Reserve Bank 83
Whose Money Is It? 84
Reserve Notes Redeemable in Treasury Gold 84
United States Gold Notes Accepted as Gold 85
Chap. 18— The World War 86
Chap. 19 — "American Peasants" 88
Chap. 20 — The Money Changers Take the United States to
the Cleaners 89
Professor Kemmerer Tells How to "Deflate" 90
A "Deflation Party" 91
$520,000,000 Deflation in 1920 92
40,000 Commercial Failures Estimated in 1932 92
"Interst" and How It Works 93
Chap. 21— The Gold Bill 95
Speech of Hon. Lewis T. McFadden 96
Morgenthau and the "Blue Chips" 102
"Sound Money" 107
Chap. 22 — The Research Finished 109
Chap. 23— The Virginia Plantation 112
Chap. 24 — The Stranger's Story 114
Lincoln's Interview with Schyler Colfax 128
Chap. 25 — The Return to the Old Plantation 131
Chap. 26 — The Stranger Concludes His Story 134
Chap. 27 — The "Awakening" 136
Chap. 28 — Conclusion 138
McGeer's Speech 143
Editorial of "Daily Province"of Vancouver, B. C 145
The Super-World Government Chart 146
Notes on "Chart" 147
What Is Money? 149
"Constitutional Money" 152
Supreme Court Decision on Money 153
THE author wishes the reader to understand from the begin-
ning that only possibly a comparatively few of our American
bankers are to be placed in the class of "Money Changers" here-
after spoken of, and can only be censured for their part in con-
sciously or unconsciously perpetuating the devastating, unchris-
tian banking system that has been fastened upon us.
The American bankers have taken the system as it was, feel-
ing it was at least legal, and have used it to work out their own
economic problems and it is likely a regretable fact that a very
few of them ever gave their "business" very much philosophical
thought, or speculated on the eventual effect of the system upon
the affairs of their nation, and consequently nearly one-half of
their number have gone down to bankruptcy and disgrace in the
last fifteen years, caught with the rest of us in the awful whirl-
pool of money racketeering and manipulation that is drawing
the whole civilized world into its vortex.
They, of course, knew that for each dollar in money deposited
in their bank, they could loan out ten dollars worth of their
checks, or credit, or bookkeeping money, and in return demand
in payment MONEY, and until recently, gold money at that. The
disastrous end of such a vile system is inevitable now, as it has
ever been down through the centuries ; the same that caused
Oliver Goldsmith to write :
"111 fares the land, to hastening ills a prey.
Where wealth accumulates and men decay."
So we should not be surprised when we find that when the
government of old Egypt fell, four per cent of the people owned
all the wealth.
When the Babylonian civilization collapsed, three per cent of
the people owned all the wealth.
When old Persia went down to destruction two per cent of
the people owned all the wealth.
When ancient Greece went down to ruin one-half of one per
cent of the people owned all the wealth.
When the Roman Empire fell by the wayside, two thousand
people owned the wealth of the civilized world and then followed
the Dark Ages from which they did not recover until wealth was
scattered by continuous wars, a great share of it being therein
It is said at this time that less than two (2) per cent of the
people control ninety (90) per cent of the wealth of America.
The foregoing disasters as well as our own present condition
were all brought about by the same thing ; namel}^, the power in
the hands of individuals or private groups to issue and control
the value and volume of the money of the nation. This right, of
course, being obtained by bribery, corruption, trickery, treason,
Will our present citizens of America carry on in hope and
ignorance and let our nation collapse as did the above mentioned,
and also Russia, or will they arouse and inform themselves of
the true conditions and stamp out the merciless system that
always brings destruction, and do as Lincoln intended doing,
establish a really equitable monetary system and an economic
security for all?
The author hopefully dedicates this volume as a help to
America to inform herself on the subject of money, its uses and
It has been necessary for obvious reasons, to relate in Chap-
ters 23, 24, 25, 26, 27 of this narrative the details concerning, and
surrounding the death of President Lincoln in the form of fiction,
as many scattered factors, happenings and writings, must be con-
nected up to make a completed whole ; and it is hoped the end
to be obtained may justify the means, namely — the arousing of
the interest of our people here in Lincoln's homeland, to a point
where they will individually and collectively inform themselves
of the true state of affairs in this their sorely beleagued nation,
and correct the unholy practices that have brought about such
It is hoped that America may soon be able to supply such a
remedy as will make it forever impossible for any individual or
group to so manipulate our national affairs ; and by correctly
applying the rugged principles of our great Constitution, so that
our vast wealth of natural resources shall be justly distributed
to each and all, and every man, woman, and child shall have a
"Fully Guaranteed Economic Security from Birth to Death."
This should bring about a condition where no one would need
to worry or "think" of the necessities of life, which would then
conform to the teachings of Him who was the promulgator of
the principles on which our Constitution and Government was
established, when He said, "Take no thought for your life, what
ye shall drink ; or yet for your body, what ye shall put on. ' '
In this, the newer version of the dastardly murder of Amer-
ica's best loved and greatest citizen, friend and champion of the
common people may be found not only the story of the greatest
crime ever committed against the people of this great common-
wealth, but the knowledge that it was the forging of the most
important link in the chain which greed, special privilege, and
money manipulation have fastened around the throats of all
Americans, and bound us in a limitless morass of bonded debt
Without his premature death the future actions of the im-
mortal Lincoln might well have brought about the revision or
repeal of the vicious laws forced upon him in the emergency of
civil war; and the establishment of a real National Currency
System, based on a full legal tender "Greenback" which he had
called, "America's Greatest Blessing," that would have enabled
our beloved country to forge ahead to a brilliant future, a great
united nation of happy people for which he worked so faithfully
to the last, and to have us established as he would have wished
us to be— FOREVER FREE.
The Search for the Cause of Depressions
IT WAS in the spring of 1933, that I had gone to Washington,
D. C, for a number of months to do research work, and to be
in close touch with the daily political happenings and to avail
myself of the wealth of information to be had in the Congres-
sional Library, which was especially rich in the material needed
for a book I was planning on the subject of economics, banking,
and the money question.
That was the fourth year of the great world depression, which,
up to then, had caused such financial conditions as the world
had never before experienced. Numerous business failures of
all kinds, increasing in volume as time went on; hundreds of
thousands of farms and homes lost by foreclosure of mortgages ;
thousands of banks, trust companies, and savings and loan com-
panies forced to close their doors, with all the misery and losses
to the masses that this entailed.
Many were the scandals uncovered by the closing of some of
these banks ; the looting of practically all ready assets by officers
of the institutions. Some were allowed to go free, others were
given various prison terms and fines, but public confidence in
banking was generally badly shaken and private hoarding be-
came more general. Safety deposit boxes were in great demand
and in many instances male attendants had to be put on at the
safety vaults to help handle the heavy deposit boxes.
The outlook was bad, indeed, and prophecies of a possible
revolution were heard on every hand.
Much gold had been exported to Europe, and especially to
France, with the largest military establishment. The "big boys"
with the gold felt it would be safest there in case of trouble.
The "Happiness Boys," who in the early months of 1929, had
glibly told us that this was a "New Era" of prosperity and never
again would we have panics and bad times, and who, in the latter
part of 1929 had tried hard to "laugh off" the idea that we could
ever have much of a panic or depression, assured us the Federal
Reserve System had been erected for that special purpose, and
that a very few months would see things bounding forward again.
6 LINCOLN MONEY MARTYKED
When those months had passed, conditions were gradually
getting worse, they having been aided and reinforced by the
higher-ups in the financial world as well as high government
officials who had assured us that "Prosperity" was now "just
around the corner," and then had for the next few years been
extremely busy, with dodging us and the bill collectors, between
other and still other assurances, excuses, etc., while they, them-
selves, were hunting for "the corner."
Finally, by this time, most of the people had begun to wake
up to the fact that there really had been a corner, but it had been
a "corner" on money, and that maybe prosperity was just around
that comer after all ; how far around, however, no one seemed
Roosevelt and the Democratic Party in general, had been
given a large plurality in their promised "New Deal" with the
Reconstruction Finance Corporation, relief to banks, railroads,
Independent students had been trying for many moons to find
some real facts on the subject of money and finance, for a com-
prehensive story, but none worth while had broken into print
Especially I had a particular interest in the subject, for in
the heyday of the boom of 1929, I had been persuaded by some
of my banking friends to convert most of my savings (which I
had carefully put into government bonds and like security) into
cash and invest it in a "real-sure fire" proposition that would
make me supposedly independent for life. They explained, of
course, that this being an absolutely "new era," one of continu-
ous prosperity, I stood no chance to lose ; and besides that. I was
getting in on the "ground floor." "Well, when the "new era"
ended in October, 1929, our "sure thing," of course, collapsed
with all the rest, and I awakened to find that, although I had
been in on the "ground floor" another crowd had been let into
the "basement," and they had made away with all the money and
It had been done legally, of course ! Someone seemed to have
had a law made especially to fit that kind of a case. Anyway it
seemed that way to me, who had not been let in with the base-
I right then and there determined to begin an investigation
and research into whether it was possible that the "Happiness
Boys" and the "money interests," whoever they might be, had
built up like situations all over the country and taken the whole
country to the "cleaners."
I reasoned that the losses had been so general all over the
country that a good long article or book on the subject might
be of real service to the country in awakening a wider interest
in such proceedings, and that if enough genuine exposure could
LINCOLN MONEY MARTYRED 7
be made, that adequate laws might be passed to control activ-
ities in the future that would prevent a recurrence of this
"Boom," "Crash," "Depression" business.
The research work has been practically completed and I had
unearthed some of the most astounding information imaginable.
The trail had led me back through the pages of our ovm history
of America, through the early English history, the French Revo-
lution, to Rome, Greece, and even back to the Old Testament
Once started on the research there seemed no stopping place,
if I wanted to get right do\\Ti to the bottom of the situation. The
deeper I dug into the maze of information and history, the more
clearly it could be seen that not only our America, but all the
civilized countries of the world were up against a situation so
grave that none but the most sound and basic matter and con-
elusions could be used.
I also became convinced that panics and depressions were
always manifested in mainly one way — namely, a shortage of
money or a medium of exchange in circulation. AVhy? What was
money for ? Why money at all ? If we must use money, why could
we not always have a sufficient supply? What made the shortage?
Was there something w^rong with our money or our system of
handling it? These and other allied questions I decided, must be
answered if I were to come to a basic analysis of the demoraliz-
ing and devastating depression.
Many were the records of sordid and sorrowful tragedies of
former panics, depressions, business failures, the growth of large
"business" institutions over the charred and broken ruins of
the many smaller ones ; the rise, disgrace, and fall of many busi-
ness and political figures of State, National, and International
renown ; I was led through the trials and persecutions of the
early Christians ; through the court of Pilate, to the cross on
Calvary; and on back into the early beginning of the Tribal
I had found, to my own enlightenment and conviction, that
the desire for money, together with the power it carries with its
possession and its uses and abuses, had been at the very founda-
tions of most of the world's greatest crimes, tragedies, and mur-
ders of many ages and nations, causing the fall of one civiliza-
tion after another, right down to the present time. I had also
become convinced that some vital principle must be corrected
before we could ever be rid of crimes, wars, panics, etc., and I
had, therefore, come to feel that the basic faults might well be
looked for in times when Individual Property Rights were first
recognized and accepted as an institution, and money was first
used as a medium of trading, or exchange of goods, labor and
services between people.
8 LINCOLN MONEY MARTYRED
The Birth of Money
IN THE early beginnings, of course, only pretty and rare rocks,
and shells, and certain animals' teeth and claws were used as
money or a medium of exchange. Later iron pieces and knives,
and still later silver and gold were used. These metals, of course,
were much harder to obtain. In the first place, it took much work
and hardship to mine and work them into suitable pieces of
money, which still, tended to enhance the value and attractive-
ness of the tokens which were a medium bj^ which all "things"
and labor could be obtained.
It seems that by this time, in the lives of the Nations, the idea
had become fixed in the minds of certain types of people, to the
effect that the possession of money in quantity gave the possessor
certain power, station, and prestige, and the command of men,
no matter in what way they became possessed of the money. As
money was exchangeable for all things and labor, men who pos-
sessed money could, of course, command things in direct propor-
tion to the amount of money they were able to accumulate.
Money, you see, had even then taken on a fictitious value and
significance, far beyond the original purpose for which it was
intended, namely — just an easily carried and cared for medium
in the exchange of property and labor.
As this fictitious, distorted, but definite idea of the value and
use of, and the possession of money became more set in the minds
of this certain type of people, the more they would concentrate
on ways and means, either fair or foul, to obtain it, and resort to
all kinds of practices of attaining their ends.
This knowledge of money along with the tricks and prac-
tices of obtaining it and keeping it was, it seemed, handed down
from father to son (of the money changer class) each generation
adding its bit of learning and sharp dealings, and handing it
on to descendants. Now this type of individual or class would,
as time wore on finally become "money minded" as it were, and
very adept, in the art of acquiring, accumulating and keeping
The exact time or place of the starting of the practice of
manipulating money is rather obscure and uncertain; but it is
more than likely that it began at a time when some community
was in the throes of a great crop shortage, by continued drought,
and famine. At such a time people with much money found that,
while they could not eat the money, they could command men
with it, and had been able to buy and store away for their use
vastly more than their just share of foodstuffs, and furthermore,
that they could trade their gold to other nations for much needed
foods and stores of goods.
LINCOLN MONEY MARTYRED 9
Although there seems to be no record left of the beginning
of the practice, it seems most probable in view of what we now
know of the present ways of moneyed men, that it was during
one of these times of famine and stress that certain individuals
with much money conceived the idea of trading this gold to other
nations for foodstuffs and in turn selling the foodstuffs to their
own fellow countrymen, in their dire need, at a great profit to
This foreign trading becoming extremely hazardous, it fol-
lowed that the men with money, not wanting to risk their own
lives, would hire men to go and do this trading for them, paying
them for their time and expense, and adding this to the cost of
the goods, to be passed on to the consumer to pay, plus the profit.
Later on these men hired to do the trading, became traders in
their own right ; and finally the most vicious and diabolical curse
of all the practices growing out of the use and abuse of money
was to result from this trading in time of famine and stress.
That practice was, simply, that the man with money loaned
the use of his money to the traders in whom he had confidence,
for them to do the trading in foreign countries, and to sell the
foodstuff's at home, for which he, the man with the money, would
get a certain part or per cent of the profits. In other words, he
could sit at home, in ease, safety and comfort, and let the use of
his money bring him more money without any effort on his part
whatever, except possibly the worry as to whether he would get
his money back safely.
This practice once started, was, of course, quickly expanded
into lending monej' to various persons in need, or in time of
stress, for a stated time, with an added amount to be returned
with the money loaned.
THE BIRTH OF USURY
This practice, then, the abuse of the use of money, which we
know today as interest, but which in the beginning was called
usury, was destined to become the greatest curse of the civilized
world, and the history of its course of practice down through
the ages traces the rise, decay, and fall of one civilization after
Through the centuries, until the last one hundred and fifty
years or so, the practice of this most vicious and destructive
procedure or system of dealing in money, the medium of ex-
change, or as called by some, the "Life Blood of the Nation,"
has been very largely confined to a certain type of mind, which
deals practically exclusively in the realm of the material, that is,
a mind that is only interested in selfish accumulation of money,
"things," or property and the domination of others, and not in
the principle of live and let live, a spirit of fair play, or an equal
chance for all, but always seeking an advantage of the other
10 LINCOLN MONEY MARTYEED
From the very earliest records, we find this money complex
type of mind constantly present, and as it is an expression of a
selfish trait, in that it deals most exclusively in the realm of the
material world, or of things, and is strictly an economic applica-
tion of mind, it is used to enable a person or group to use these
practices to take advantage of others among whom they are liv-
ing at the time.
It follows then, as a reasonable presumption, that this most
vicious of human practices must have been and was handed down
from father to son as a priceless heritage of knowledge adverse
to the rest of humanity, to be used and guarded as a sacred
The Cause of Pogroms and Most Revolutions
THE creed of this type of person or people has always been
the same, very simple, but most religiously adhered to and
practiced. In a few words it is as follows : Buy low — sell high —
accumulate money — lend the money at high usury, or interest, to
the people in need and distress ; eventually getting complete con-
trol of nearly the entire money of the country ; then hoarding
the money ; causing artificial shortage of it and consequently
higher interest rates ; in turn forcing prices of commodities and
wages to a low point, where none but men with money could
survive for long.
Suffering and starvation would eventually breed rioting and
finally a great uprising would occur, ending in either one of two
ways : the mob or rioters would strike directly at the money
lenders, or against the Government.
First : When the country was small and the amount of money
in circulation was very limited, it was more easily and more
quickly "cornered" by the money lenders and the attention of
the people easily directed to the real cause of the money shortage,
for, of course, the people would know who they could get money
from, and the rioting was consequently launched directly at the
Second: If the country was large and if the money lenders'
control had gone far enough for them to corrupt legislators and
gain control of the government, then the uprising would be di-
rected against the government ; and, that overthrown, the money
and lands would be re-distributed to the people again. This of
course, with a great loss of life due to the money lenders being
in control of the army and law enforcement officers, and direct-
ing them against the people as long as possible.
When the uprising occurred against the money lenders them-
selves, it was called a Pogrom, and a great massacre of the
money-lending classes would occur along with great numbers
of their more or less innocent relations. These great massacres
would end in the bulk of the money of the country being taken
back by the people, from the money lenders, or usurers, as they
LINCOLN MONEY MARTYRED 11
were then called, and the country would after a time quiet down
again to the regular tempo of existence ; money, the life blood of
the country, having been returned to its natural function — that
of a free, floating medium of exchange for labor and commodities.
When the uprisings occurred against the Government, and it
was overthrown, and a different set of officials installed who, for
the time being at least, were not controlled by the usurers, that
would be called a revolution.
The intervals of time between these uprisings, j^ogroms, or
revolutions would vary according to the size of the country, the
amount of money in the country, and the number of money-
changers or lenders operating at the time, and also upon the rate
of interest or usury they chose or could "get away with."
The interest rate and the ease of operations of the money
lenders was again varied by the extent they were able to get into
the good graces of the rulers of the country by loans to them
personally, or gifts of money, or a share of usurious interest
obtained from the people.
All of these things had a direct bearing upon the time interval
between pogroms or revolutions. If the usury rate was allowed
to be high, it would not take so long to "corner" the money and
have all the property mortgaged. If it was low, it would take
One of the most peculiar phases of the money "cornering"
craze of the money changers is that generally speaking their
minds run only to getting, lending, manipulating and keeping
money. Unless they can get a large usury rate, they never
seem to realize the seriousness of the situation or the condition
they are creating, nor do they care. Once in possession of the
money they hang on until they die or are killed or it has been
otherwise taken from them.
This thing has happened innumerable times down through
the centuries, but always with the same ending. It would seem
that they would learn that in the end that usury, like other
crimes, does not pay; but they never have done so. In times of
panic or money shortage, when they become the victims of mobs,
they are always loud in their wailings that they are being perse-
It is also said that many times when the money lenders have
seen a crisis in money matters approaching, they would, by con-
nection with trade or through communication with their own
kind of people in other countries, bring about a war to detract
attention from the money conditions. Thus they would have the
government borrow money (from them) to finance war. The
money crisis would be averted by the government borrowing
and putting money into circulation for war materials and other
expenses. This was probably the forerunner of our present gov-
ernment bond indebtedness, as it has all been conjured up by the
same class of people in various ways.
12 LINCOLN MONEY MARTYRED
Now, what does this loaning of money at usury do? And why
was it considered a great evil by all the best minds of all times,
including those of the churches, until very recently — say the last
hundred and fifty years?
In the first place we must remember that money came into
use solely for the purpose of having "a something" easily cared
for, that would not easily deteriorate, that all could agree to
exchange their labor or goods or commodities for; merely a
medium of exchange, a convenience created by law ; either by
common law, of common consent and use, or by statutary law.
But when money is loaned for interest or usury or for increase,
it is thereby taken out of its normal, natural use as a medium of
exchange and becomes a commodity to be trafficked in and a
profit made out of it, making a slave of it, to gain an unearned
profit for its owner, making its possession desirable, and attract-
ive in an unnatural way.
The Abuse of the Use of Money
LET us turn back through the pages of history, as shown by
research, and see what the best minds had to say about the
practice of usury and, tracing its usage down through the cen-
turies, see just what the "abuse" of the use of money, namely —
the loaning of it at interest — has done for humanity; and see
what part it has had in this, the worst depression or panic of all
times, and decide, if we can, just where our greatest mistake was
made and just why it was not corrected in time, but allowed to
go on to such drastic conclusion.
Beginning way back in the Old Testament days, we find the
following items concerning the taking of usury, and the teachings
against it, with the penalties therefor.
There is practically nothing obtainable worthy of note of the
financial history of Babylonia, Egypt, Assyria, India, China and
even Phonecia, a manufacturing and commercial nation. But all
of those nations, still existing, have a very low volume of cur-
rency or money. They are known as degraded nations.
—From "What Is Coming," by L. E. Stowe.
We have nothing of finance until we reach Solomon's time.
Solomon obtained much wealth from commerce, to which he gave
much encouragement, and for several years kept his people at
work on public works. Then he stopped, and only looked after
the pleasures of Solomon — aping the arrogant styles of foreigners,
taking wives from among foreigners and aping their customs to
LINCOLN MONEY MARTYRED 13
please them. He demonetized silver, thus reducing the volume
of money and brought about distress and a rebellion headed by
Jeroboam. It is said that this distress and dissatisfaction was
brought on hy excessive taxation. People do not mind taxation
when money is plentiful. Then there is prosperity and they can
afford to be taxed. But this trouble came with a contraction of
the volume of money. The Bible says of this time that silver was
of no account. Josephus saj's of this time that silver was of no
account. Josephus saj^s Solomon demonetized silver ; that it was
neither used to buy or sell, but we know that it had been used
for money before that time. Abraham used silver to pay for the
cave of Machpelah, Avhich was used for a sepulchre for Sarah.
Silver was used after that time, because Judas Iscariot sold
Christ Jesus for thirty pieces of silver. It is evident that Solomon
did what the money kings have done since; contracted the
volume of money by demonetizing silver, and he ruined his coun-
try. Money became so scarce that usury became the curse of the
land. This caused old Nehemiah to cry out, "I pray you let us
leave off this usury." Neh. V. 10.
In Ezekiel, Chapter XXII, God tells why He drove the Jews
out of the land He had given them. I recommend the reading
of this whole chapter carefully, especially verses 12 and 15,
where God says:
"In thee have they taken gifts to shed blood. Thou has
taken usury and increase and thou hast greedily gained of thy
neighbors by extortion and hast forgotten me, sayeth the Lord
God. — And I will scatter thee among the nations and disperse
thee through countries and will consume thy filthiness out of
"The scattering of the Jews among the nations is the spawn
that hatched the Red Dragon, the Jew Money Power, centered
in Lombard and Threadneedle streets, London, England, and
which the people of the world will arise and crush out and the
Jews with other people will be made to see that the essence of
selfishness, deception and dishonesty lies in usury or interest
Leviticus : 25 C. 36-37 V. ' ' Take thou no usury of him, or
increase; but fear thy God; that thy brother may live with
Thou shalt not give him thy money upon usury, nor lend
him thy victuals for increase."
Deuteronomy: 23 C. 19 V. "Thou shalt not lend upon usury
to thy brother ; usury of money, usury of victuals, usury of any
thing that is lent upon usury."
Nehemiah: 5 C. 1-13 V. "And there was a great cry of the
people and of their wives against their brethren the Jews. For
there were that said. We, our sons, and our daughters, are
many; therefore, we take up corn for them, that we may eat
14 LINCOLN MONEY MARTYRED
and live. Some also said, We have borrowed money for the
king's tribute and that upon our lands and vineyards. There
were also them that said, We have mortgaged our lands, vine-
yards, and houses, that Ave might buy corn because of the
Yet now our flesh is as the flesh of our brethren, our children
as their children; and lo, we bring into bondage our sons and
our daughters to be servants, and some of our daughters are
bought into bondage ; neither is it in our power to redeem
them ; for other men have our lands and vineyards.
And I was very angry, and I rebuked the nobles and the
rules, and said unto them, Ye exact usury, every one of his
And I set a great assembly against them. And I said unto
them, we after our ability have redeemed our brethren, the
Jews, which were sold unto the heathen ; and will ye even sell
your brethren. Or shall they be sold unto us?
Then they held their peace, and found nothing to answer.
Also, I said. It is not good that ye do ; ought ye not to walk
in the fear of our God because of the reproach of the heathen,
our enemies? I likewise, and my brethren and my servants
might exact of them money and corn ; I pray you let us leave
off this usury. Restore, I pray thee, to them even this day, their
lands, their vineyards, their oliveyards, and their houses, also
the hundredth part of the money and of the corn, the vine, and
the oil that ye exact of them."
Nehemiah : 5 C. 1-13 V. continued :
"Then said they, we will restore them, and will require
nothing of them; so will we do as thou sayest. Then I called
the priests, and took oath of them that they should do accord-
ing to this promise ; also I shook my lap, and said, so God
shake out every man from his house, and from his labor, that
performeth not this promise, even thus he be shaken out and
emptied. And all the congregation said Amen, and praised the
And the people did according to this promise."
Ezekiel : 18 C. 10-14 V.
'*If he beget a son that is a robber, a shedder of blood, and
that doetli the like to any one of these things, and that doeth
not any of these duties, but even hath eaten upon the moun-
tains and defiled his neighbor's wife, hath oppressed the poor
and needy, hath spoiled by violence, hath not restored the
pledge, and hath lifted up his eyes to the idols, hath committed
abominations ; hath given forth upon usury and hath taken in-
crease; shall then he live? He shall not live: he hath done all
these abominations, he shall surely die; his blood shall be upon
LINCOLN MONEY MARTYRED 15
Ezekiel: 22 C. 12-13 V.
"In thee have they taken bribes to shed blood; thou hast
taken usury and increase, and thou hast greedily gained of thy
neighbor by extortion, and has forgotten me, sayeth the Lord
God. Behold therefore, I have smitten mine hand at the dis-
honest gain which thou hast made, "
These quotations clearly show the teachings of the religious
leaders of those times and their laws against the practice of
usury. Can a conscientious Christian take interest and feel com-
fortable after reading the foregoing?
"We will now see what early European history has to say.
HISTORY OF MONEY
'"nr'HE first gold and silver coins were brought from Asia to
■*• Hellas as an article of commerce. Gradually they came into
use as money. After the State had commenced to coin its own
money, for a long time there existed only a small amount of
coined money in the land, and this was chiefly in the hands of
the men of business and merchants. As soon as money ceased to
be an article of trade like other articles coming on the market,
when even the poorer classes could not exist without it — the laws
of debt prevailing in the interest of the proprietors — money, like
a poisonous plant, absorbed and consumed the strength of the
land." — Curtius' History of Greece.
(Sounds familiar, doesn't it? "Laws of debt prevailing in the
interest of the proprietors." Look about you, my dear reader, and
see if this does not fit our present condition.)
Prescott in his "History of Peru" tells us that gold was found
so plentiful by Pizarro that it fell in value to an enormous extent.
The natives did not use it for money as their trading was all by
barter, article for article. One of the Spanish soldiers traded a
hatchet for his two handfuls of gold and the native ran away for
fear the man would want to trade back.
Says Prescott: "A quire of paper was sold for ten pesos-de-
oro, eleven dollars and sixty-seven cents of our money. There-
fore, the quire of paper exchanged for $116.70 in gold, reckoned
in our money of today.
A bottle of wine was sold for sixty pesos-de-oro, a sword for
fifty, a cloak for a hundred and sometimes more, a pair of shoes
for forty, a good horse for seventy-five hundred."
Figuring in our money it would look so:
A bottle of wine $ 700.20
A sword 466.80
A cloak 167.00
A horse 29,175.00
A pair of shoes 350.10
All payable in gold and silver.
The reader can show this to his gold standard friends and
let them explain.
16 LINCOLN MONEY MARTYRED
In the times of Rome aud Greece B. C, Swinton's Outline
History of the World, page 130, says : "The first authentic history
of Greece as B. C. 776 and of Rome as B. C. 750, both countries
being described as early organized republics and being normally
republic under aristocratic rule at the time they were consoli-
dated and the rich classes or patricians ruling except at inter-
vals, when the people being aroused by great crisis took charge
And of "The public land hitherto practically monopolized by
the rich, no man should hold more than 500 jugera (250 acres),
while the remainder should be distributed in small portions
among the Plebians as their own property."
— Swinton's Outline History of the World, Page 143.
"This sort of plan was, of course, strenuously opposed by
the rich Patricians, but they could not prevail against the trib-
unes who were successful in preventing the election of officers
and of military levies."
"History tells us that with these actions began a Golden Age
of Roman Politics and civil concord, to which a temple was dedi-
cated, and brought with it a period of civic greatness." (See
Swinton's Outline History, page 144.)
"But with all their rulings they had not outlawed usury, so
the Golden Age did not or could not last, and the practice of
usury again built up a 'money power' which gradually under-
mined the laws with bribery and corruption and precipitated an-
The following excellent description of the financial history of
the early European period is reprinted Avith permission from
"What Is Coming," by L. E. Stowe.
"We know the people were largely tinctured with Socialism,
and undoubtedly like our Socialists of today, thought that money
must be based on something, and that something must be labor,
or the product of labor, consequently oxen were largely used as
monej' and a basis for currency a cheap metal. Undoubtedly the
Augean stables, belonging to King Augeus of Elis and said at
one time to have contained 3,000 oxen, Avere his treasure house,
* ' Homer and Hesiod never speak of gold or silver money. They
express the value of things by saying they were worth so many
oxen. Homer values the golden armor of Glaucus at one hundred
oxen, and the brazen armor of Democles at nine oxen.
"Caesar issued a cheap metal money, receivable for taxes and
based upon cattle and bearing the device of a horse, an ox, a
hog, an ear of corn, as the case might be, to denote the value of
' * Some of the States or Colonies of ancient Greece adopted iron
money as their medium of exchange.
LINCOLN MONEY MARTYRED 17
"Lycurgus, the law giver of Sparta, adopted a system of iron
money, and that it might not be withdrawn from its legitimate
purpose to be used in the arts (for iron was a scarce article in
those days), he steeped it in vinegar to destroy its malleability.
"Xenophon states that, "Most of the states of Greece have
money which is not current except in their own territory."
"Plato recommended a double currency in every nation: "A
coin," said he, "for the purpose of domestic exchange it must
have a value among the members of the state, but no value to the
rest of the world."
"For visiting and using in other states he proposed a coin of
intrinsic value, which would pass current in foreign states.
"But the money changers have always fought a cheap money,
and when they are successful, the people must suffer. In Attica
595 B. C. they had destroyed cheap money, and interest was high.
There was a mortgage stone at the corner of nearly every piece
of land, the money loaning class had their grasp on everything,
and they and their victims were about to clash and deluge the
land with blood. But they finally agreed to arbitrate and con-
sented to leave the matter to the philosopher Solon. He said he
could do nothing for them except to draw up a code of laws,
which if they accepted and obeyed, would save Attica from ruin.
They consented. First he abolished all interest. The foolish peo-
ple, hoping to someday become wealthy money loaners refused
to accept this as well as did the money loaners. He then ordered
the mortgage stones taken up and the debt forgiven wherever
the payments returned a sum to the loaner equal to the principal
first loaned, then to make it possible for the debtor class to meet
their obligations he increased the value of money by calling in
all of the coins of the realm and recoining them and nearly doub-
ling the volume by reducing the amount of metal in the coin.
This saved Attica from bloodshed and ruin.
"Solon was asked by Croesus, king of Lydia, if tlie laws, wliicli
he had made for the Athenians, were the best that could be given
them. He said, "Yes, the best they were capable of receiving."
"All through the history of man there has been a continual war
between the people and the privileged class. The privileged class
when defeated in one locality gathered their silver and their
gold and hied themselves to some other country where they could
gain privileges to rob the people.
"After losing their power in Greece many of them retreated
to Carthage. But people were more clannish in those days than
at the present time and foreigners could not get a foothold with
political influence in a day. It took many years before their in-
fluence was greatly felt in Carthage and when they did get hold
of Carthage, their blighting influence soon destroyed the coun-
try, as their devouring system of usury and selfishness will bring
the most flourishing country to ruin, as surely as the army worm
18 LINCOLN MONEY MARTYRED
will wither and blast the most fertile and flourishing fruit tree,
when once it gets a fair hold upon it.
"Carthage was the most prosperous nation on the globe at that
time. Her white sails dotted the waters of the then known world,
if indeed they did not reach to that of the new world. Her mines
produced $10,000.00 per day of the precious metals, yet the metals
were not used for money at home, but were kept especially for
trade and commerce abroad. For home use Carthage had a
leather monej^ and to prevent successful counterfeiting, it con-
tained a metal core, a compound of metals, the compound a secret
of the government.
"Carthage became very rich and powerful, but there was rising
in the west a nation that was to eclipse her in all her glory. Rome
was that rising power. Hannibal being a statesman as well as a
general, determined to conquer Rome. He hired his soldiers from
foreign countries, equipped an army, marching through a hostile
country, he crossed the Alps, making friends of the barbarians.
He carried on a long war, but finally was compelled to send home
for assistance, for men and money. In pleading his cause he said,
"It is now or never, for it is Carthage or Rome." But he had
left an enemy in Carthage far worse than those he was fighting.
The money power had destroyed the cheap money and come to
a money of precious metals. They had control of all government
offices and established many useless institutions to make room for
their people in office, thus taxing the people heavily to meet the
expenses. They considered only their immediate interests, so re-
fused aid to Hannibal and recalled him. Hannibal withdrew from
Rome, Scipio immediately followed him and was soon thundering
at the gates of Carthage. A council of war was called and of course
Hannibal was present, and in the discussion that followed Hanni-
bal took no part but stood with folded arms and smiled at their
tribulation. Senator Asdrubal Hoedus said, "Hannibal smiles
and his country is in danger." "Yes," said Hannibal, "the smile
of contempt for him who feels his country's loss, only, when his
own interests are at stake, it is sorrow for Carthage."
"With the destruction of the cheap money of Carthage came
an era of corruption, even the judges became so corrupt that
Hannibal Avhen made Preator was compelled to impeach the
whole bench of judges, and he corrected other evils, and says
Rollins the historian : ' ' They exclaimed vehemently against these
regulations as if their own property had been forced out of their
hands and not the sums they had plundered from the people."
' ' We will now note the difference in the financial changes be-
tween Carthage and Rome."
' ' Money is always scarce in new countries and prices high and
interest runs up to almost an unlimited extent. There is always a
vast amount of enterprise and push among those who venture
LINCOLN MONEY MARTYRED 19
everything to establish a home in a new country. Rome was the
"Star of the Empire" setting westward. She was rapidly in-
creasing in population both by immigration and by extending her
border by conquest. The volume of money was increasing but
not in proportion to population, consequently, there was always
a strife between the privileged class and the producing class.
And here is something I wish to forciblj^ impress on the minds of
the people ; the privileged class always tried to destroy the force
and the power of the people's leaders. Sometimes by circulating
false reports, sometimes through bribery, sometimes by foisting
their own friends into positions which they misuse and so betray
the people, and sometimes by assassination.
"The people seldom, if ever, assassinate a ruler or leader ex-
cept they go in mobs, but where an individual does such work
he generally does it at the instigation of a band of conspirators.
"Now the bone of contention was money, land, and political
rights, or abused privileges, but interest on money was the lead-
ing evil. Marcus Manlius, a patrician, was one of the noble de-
fenders of the people's cause. He was a soldier of great physical
strength and when in 530 B. C. the Gauls attacked Rome the
poorer classes withdrew and said they had nothing to fight for.
(This shows that oppression and poverty destroyed patriotism.)
The soldiers retreated to the citadel on "Tarpin Rock," and one
night when the Gauls attempted an assault, they scaled the rock,
but before scaling the walls Marcus Manlius was awakened by
the squawk of the sacred geese. He sprang to the wall, and being
a powerful man, he hurled the enemy down as fast as they came
upon the wall, and made so much noise as to awaken his com-
rades, who came to his assistance, and thus saved Rome. This
gave him great honor and notoriety. The Gauls were soon com-
pelled to withdraw when the people were coaxed back with the
promise of amelioration of the existing political evils, land limita-
tion of ownership, etc. In this Marcus Manlius became one of the
strongest defenders of the people's rights. The Patricians became
enraged at this and determined to destroy him, and the foolish
people consented to hurl him to death from the very rock where
he gained his notoriety.
"This narrative has no direct bearing upon the question of
volume of money, nor have the two narratives following, but
the reader should keep them in mind as they have a great bear-
ing upon the historical facts that follow.
"Notwithstanding the volume of money had been largely in-
creased by reducing the metal in the coin, to carry on the war,
population had increased, territory had increased, and much
treasure was hidden and lost, consequently money was still scarce
and prices of all commodities ranged high, as the producers were
withdrawn from their occupations to serve in the army, so that
the lower classes could hardly afford the humblest of food and
20 LINCOLN MONEY MARTYRED
clothing, while the privileged class lived in luxury. Paper print-
ing and engraving were not then known, so Rome could only in-
crease the volume of money by reducing the metal in the coin.
This debasing of the coin the money loaning classes could no
"The volume of money was not adequate to the wants of
trade, and notwithstanding the many attempts to control rates
of interest by laws, usury was one of the greatest of the many
abuses hea]>ed upon the people by the privileged class.
"We are now in ]33 B. C. Tiberius Gracchus, one of the trib-
unes, sought to enforce the long neglected agrarian laws limiting
ownership of land to 500 acres also insisting on the wealth left
to Rome by King Attalus of Pergamus by his will, to be distribut-
ed equally among the poor of Rome. This excited the animosity
of the privileged classes who again set up the cry of ambition and
collected enough fools from among the people to go dow^n and
murder Tiberius Grachus and three hundred of his followers.
Again I say, note the manner of exciting the prejudices of the
people for the purpose of using them against their own interests.
"Ten years after the death of Tiberius Gracchus, his young and
talented brother, Caius Gracchus being elected tribune, made a
vigorous attempt to carry out the reform started by his elder
brother. This included reforms in usury laws. He erected polling
booths similar to those now used with the Australian system. At
a new election he was counted out (just as they do these things
nowadays). The people, indignant at this fraud and outrage,
arose in defense of Caius Gracchus, the patricians fearing him,
hired an assassin to kill him, and then circulated the story that
he called one of his followers to slay him. History gives us both
sides of the story but students of history who understand human
nature believe the patricians murdered him.
"We are now in 48 B. C. Julius Caesar, a successful general,
virtually ruled Rome sometime before his dictatorship. He sought
to correct many existing evils, among which was the limitation
of land ownership. He saw the abuses of the money matters. Up
to this time the issuing or coining of money had been granted to
a few wealthy families. Caesar took this privilege from them and
restored it to the government to whom it belonged. He also created
a large volume of cheap metal money and started public works
and paid it out to labor. This enraged the privileged classes.
"The people loved Caesar," Mark Antony said, and he said
Caesar put away the crown three times and we know history tells
us Caesar did not like to remain in the city among the corrupt
politicians. He was a plain soldier and preferred the tield, and
notwithstanding this the privileged class determined to get rid
of him, and for an excuse perpetrated their old trick, as in the
case of Manlius and Gracchus, they charged ambition, and know-
ing the manner of murdering these men was still fresh in the
LINCOLN MONEY MARTYRED 21
minds of the people, they dared not try it, so concluded it would
be safer to murder him with their own hands, which they did
March 15, 44 B. C. But Mark Antony said, "They are gentlemen."
We have just such gentlemen today who would not hesitate at
any crime to further their ends."
"With the death of Caesar soon came the death of cheap
money, but Caesar's successful wars had made Rome rich with
the precious metal; they amounted to $1,800,000,000. But the
mines now began to peter out and no new ones discovered and in
consequence of many wars, treasures were often hidden away and
never found, so that the contraction of the volume of money was
very great. This continued until civilization was nearly snuffed
out, and the Dark Ages were the consequence, in which many of
the arts were lost and the finer feelings of man smothered."
"The reader's attention is called to the money conditions and
practices of Rome just before it fell, that are i)resent here in our
own America today. Usury, high taxes, masses losing their lands
and homes ; debasing money, or as it is called now ' ' lowering the
value of the dollar"; the masses losing interest in and refusing
to support the government, and now many of our unemployed
millions listening to the fake remedy of "Russian Communism"
instead of informing themselves of the real reason of their dis-
tress — the manipulation and issuing and control of the nation's
money by a private group of money changers.
"The Roman Republic, however, was swept away to oblivion
in another great crisis about the year 27 B. C. and resulted in
the money power installing a dictator, Augustus Caesar, who
soon established a policy of cruelty and violence against reforms."
During all the time of which we have been writing the most
learned minds and philosophers of high standing were all op-
posed to usury (the loaning of money at interest), some of whom
express themselves as follows :
The Encyclopedia Britannica says of Aristotle : " In the history
of European thought and knowledge, down to the period of the
revival of letters, the name of Aristotle was without a rival,
supreme — his thoughts also were, as far as possible the fore-
runner of modern science. He was recognized as the strongest of
We will certainly have to respect and revere the teachings
and the thoughts of a man of that calibre, and what was his atti-
tude on interest and usury in 350 B. C? Listen —
"Money being naturally barren, to make it breed money is
preposterous, and a perversion from the end of its institution,
which was only to serve the purpose of exchange and not of
increase. ' '
"Usury is most reasonably detested as the increase arises
from the money itself, and not by employing it to the purpose
for which it was intended." (Aristotle on Politics.)
22 LINCOLN MONEY MARTYRED
"Although the monarchy had been abolished, the people of
Rome by no means enjoyed the blessings of a free government.
All political power in the hands of the Patricians, and Plebians,
workers and producers were kept in a condition of great social
degradation. Obliged to borrow money of their rich neighbors,
they were charged enormous rates of interest, and when unable
to pay, were delivered by the cruel laws to the mercy of their
creditors, who deprived them of their lands, and reduced them
to the condition of serfs or slaves. * * *"
— Anderson's New General History.
"It is related that Napoleon, when shown an interest table
said, after some reflection, 'The deadly facts herein revealed
lead me to wonder that this monster, interest, has not devoured
the whole human race. ' It would have done so long ago if bank-
ruptcy and revolution had not acted as counter poisons."
— Michael Flurscheim.
"He who would give the name of robber or parricide to the
iniquitous invention of interest would not be very far from the
truth. What, indeed, does it signify if you have made your-
selves masters of the wealth of another by scaling walls or by
killing passers by, or if you have acquired what belongs to
you by the merciless methods of the loan?"
— St. Gregory of Nyssa.
"Why do the masses work overtime for insufficient pay?
Why has our transportation system broken down ? In each case
the answer is interest. If we let the interest taker skim all the
cream off the profits of the transportation system, of course, it
will break down. If not arrested, interest will throw to the
scrap heap humanity itself."
— John Basil Barnhill.
It is recorded that "Cato, the Second" when asked his opin-
ion on usury, replied by asking, "What do you think of mur-
der?" Inferring, of course, that he considered the two things
It is very plain to see by the foregoing instances that when
usury is practised, it soon builds up a powerful ring of money
lenders who leave no stone unturned to keep and further their
use of the practice of usury, and the power that they can attain
by corrupting the government officials with the vast quantities
of money that must inevitably accumulate by usury.
They do not stop at wholesale murder, nor any degree of
corruption, and generally end by the overthrow of free govern-
ment and the establishment of a dictator or despot they can con-
trol by the use of money.
If we wish to see what eventually happens to this kind of
dictatorship, we may read what happened to Rome. In that time
oppression became worse and worse, and people who wanted
liberty and freedom fled to other countries, and finally when the
LINCOLN MONEY MARTYRED 23
barbarians swept down in ever-increasing numbers, there was not
enough patriotism left in the citizens for their own country to
cause them to defend it, and it went down to destruction. (So
Dunham tells us in his work, "The Middle Ages," Vol. 1, page
"Cities were sacked, fortresses were leveled, churches were
burned, monasteries of both sexes destroyed, the fields wasted,
the country abandoned, so that wild beasts supplied the place
of men. These are facts which no sophistry can invalidate."
Not a very pretty picture to contemplate, but one we certainly
want to avoid here in America.
lesus and the Money Changers
COMING now to the time of Christ's ministry on earth, we
have only to refer to his action of driving the money chang-
ers from the temple with a scourge of cords, to get his viewpoint
on usury and the manipulation of money values, AND FOR
WHICH HE DROVE THEM FROM THE TEMPLE.
For many years the people who were in the business of hand-
ling money were called bankers, but of recent years you hear
them referred to as "money changers," even by our highest
government officials — the same term used by Jesus when He
drove them from the Jewish Temple of Jerusalem and accused
them of making the Temple a den of robbers. You will find it
in Matthew 21 :12-13, and Mark 11 :15-19. As this seems to be
the one and only time when Jesus used force or "direct action"
in His ministry. He must have had a very good reason for do-
In looking up the history of "banking" or practice of money
exchanging of that time, we find the following condition existed :
There was a "rule" or "law" that the tithes or taxes of the
church or Temple could be paid only in one certain coin called
the "half shekel of the sanctuary." True, they had several dif-
ferent coins at that time, but nevertheless, the above law existed
and all the people had to obtain this particular coin with which
to pay their taxes or dues. (See Exodus 30:11-17, and 36:25-26.)
And don't forget that that was one thing that they all did in
those days — pay their Temple Taxes !
Can't you see the pained look on the old money changer's
face when people asked him why such a law existed? "Why ask
him about it ? Surely he had nothing to do with it ; he was just a
"poor fellow trying to get along." They should go to the law-
makers and ask them ; they were the wise ones ; they would know ;
they made the law, not he." If the reader would like to know
how he looked and acted, just go to your banker and ask him the
same question concerning the Gold Standard.
24 LINCOLN MONEY MARTYRED
Histor}' is not altogether clear as to just how they coined their
niouey and got it into circulation among the people in those days,
but the chief functions of the bankers seems to have been the
changing of the trader's foreign money into local money. This
business probably lagged somewhat or was not very profitable in
the interval between the arrival of different caravans from the
foreign countries, at any rate the aforementioned law was passed
concerning the payment of the Temple Tax in only one coin.
Can't the reader easily imagine what happened? All the
people had to pay their Temple Tax, and "had" to pay it in ONE
CERTAIN COIN, and the volume of money in those days was
never very great and especially this coin was not too plentiful.
The money changers, having most of the money anyway, were,
of course, soon able to "corner" all the special "Tax coins" and
raise the price or exchange rate to whatever they wished or could
get for them.
Just to be good and accommodating to their customers they
accordingly established themselves in the Temple, where the good
people came to pay their Temple Tax and where for a "price"
they could get the "half -shekel of the sanctuary" with which to
pay it. It is said it cost them two or more times its actual worth,
or the buying power of the "half -shekel" when it was used to
buy commodities. The doves and the animals that the people
bought for sacrifice also could be bought only with this same
"half-shekel of the sanctuary" or "special coin" that had to be
obtained from the money changers.
So it becomes quite apparent that what Jesus objected to in
the business of the bankers, at that time, was not the exchanging
of foreign MONEY into local money, BUT THE CHANGING OF
THE VALUE OF THE TEMPLE TAX MONEY, and robbing
the people of the difference between the purchasing power and
the tax-paying value of the coin, when they HAD to have it to
pay the tax they HAD to pay. They had actually CHANGED
THE VALUE of the monej^, by first making the laAV to have their
Temple Tax paid only in ONE CERTAIN COIN, and then by
cornering the supply and hoarding it, then CHANGING OR
RAISING the value by charging twice its commodity value, or
its value in buying produce. Thus they were really MONEY
CHANGERS, as Jesus called them and for which He drove them
from the Temple.
Now, we will just step down through the pages of history
to 1873 in the good old U. S. A., when silver was demonitized
and gold was made the standard money. If you think that the
price of MONEY can't be changed, just get your BUSINESS
GRAPH and see what happened to the prices of "things" in the
relation to gold from 1873 for the next seven years, the longest
"depression" the U. S. had ever experienced up to that time. As
it worked with the "half -shekel of the sanctuary," so also it
worked with the Gold Standard.
LINCOLN MONEY MARTYRED 25
Substituting the following things in 1873, for what they were
then, in A. D. 30, we have :
A. D. 30 A. D. 1873
Law Makers Our Congress
Money Changers International Bankers
Temple Tax money or the "half Gold
shekel of the sanctuary"
Temple Tax Debts, Interest, Taxes, Mort-
A law making the Temple Tax A law making the above pay-
])ayable only in one certain able only in gold money,
Do you see anything changed in the pictures of the two things
No, just the same old game of paying the Temple Tax in ONE
certain coin. Look at it closely and you will see that the same
people, the same race, the same type of minds, that were the
money changers of 2,000 years ago and had a law passed making
the Temple tax payable in one certain coin, were the formulators
of the Gold Standard all over the world of our day, and the
"half-shekel of the sanctuary" becomes the ancestor of the
"Gold Standard." It is the same old game with new surround-
ings, new words, phrases, and practices to camouflage and con-
fuse the minds of the people as to the "why" of such a condition
Isn't it plain that the only mystery or complication about
money, so far, is the maze of explanatory smokescreens spread
bv the paid economists, and financiers to cover up the ABUSE of
the USE of MONEY?
History does not tell us much of the collusion of the law-
makers, rabbis, and money-changers, in having such a law passed,
nor of how the tax money GOT BACK into the hands of the
money changers from the tills of the temple priests, nor at what
exchange rate, nor who received the graft, but any nation may
look with grave suspicion upon a group of people who will up-
hold and work for a continuation of a system of National money
and finance in our Christian country and in our times, that had
such an unholy ancestry.
In his book, "Money and Its True Function," F. R. Burch
has the following comment :
"As long as Christ confined his teachings to the realm of
morality and righteousness, He was undisturbed ; it was not
till He assailed the established economic system and 'cast out'
the profiteers and 'overthrew the tables of the money chang-
ers,' that He was doomed. The following day He was ques-
tioned, betraj^ed on the second, tried on the third and on the
Their court procedure seems to have been much more efficient
in those days than now.
26 LINCOLN MONEY MARTYRED
We now come to the disciples of Christ, and what their atti-
tude and teachings were, on usury.
The Apostle Peter, telling the public of his Vision, said: "And
in another lake, full of pitch and blood and mire bubbling up,
there stood men and women up to their knees : and these were
usurers and those who had taken interest ..."
Antinicene Fathers, Vol. 9, page 146.
The Apostle Paul, in telling of his Vision, said: "And I saw
another multitude of men and women, and worms consumed
them. But I lamented and sighing asked the angel and said, 'Who
are these?' And he said to me: These are those who exacted in-
terest ON interest, and trusted in their riches and did not hope
in God that He was their helper."
Antinicene Fathers, Vol. 9, page 160.
"The Apostles Paul, Peter, Stephen, and James were killed.
Peter was struck, Stephen overwhelmed with stones, James was
a victim of the Altar and Paul was beheaded."
See Antinicene Fathers, Vol. 13, page 648.
The Catholic Encyclopedia, page 235: "The early Catholic
Church on Usury:" "In the article interest, we have reserved
the question of the lawfulness of taking interest on money lent;
We have here to consider first, usury as a subject of controversy;
and secondly, usury as condemned by all honest men ..."
And again it says, page 236, "The canonical laws of the Mid-
dle Ages absolutely forbade the practice."
We find in Ashley's English Economic History on page 149,
part I, edition III. "Among the canons of the great Luthern
Council held by Alexander III in 1179, one ran as follows : "Since
in almost every place the crime of usury has been so prevalent
that many persons give up all other business and become usurers,
as if it were permitted, regarding not its prohibition in both testa-
ments, we ordain that manifest usurers shall not be admitted to
communion, nor if they die, in their sin receive the Christian
burial, and that no Priest shall accept their aim. Clergy disobey-
ing this order were to be suspended from their office until they
had satisfied their bishop."
The same Pope, in letters to the Arch-Bishop of Salerno and
Bishop Priacenza, had pronounced that usurers, and even the
heirs of usurers, ought to be compelled to restore their unjust
gains under similar penalties. And at another place says: "It
was at another great council, that of Lyons in 1274, that Gregory
X ventured to make fresh advance in both these directions. In
one he ordains that no community, corporation or individual
should permit foreign usurers to hire houses, or indeed to dwell
at all upon their lands, but rather should expel them within three
months; and he forbids anyone to let houses to them."
LINCOLN MONEY MARTYRED 27
The next Canon ordained that the wills of unrepented usurers,
of usurers who did not make restitution — should be without
validity. And yet in another place the same author we find : ' ' We
therefore decree, with the approval of this sacred council, of
Vienne, that whatever authorities, captains, rectors, counsels,
judges, councilors, or any others, presume to make in the future
any statutes, either that debtors shall pay usury, or, that a usurer
is not bound to restitution, shall incur sentence of excommunica-
Considering our present world plight, it would seem that the
foregoing decree was not enforced very strongly in the later
For the opinion of Shakespeare on usury we need only to
read "The Merchant of Venice."
THE EARLY PROTESTANT LEADERS ON USURY
Martin Luther (Elliot on Usury, page 71) :
"Whosoever eats up, robs, and steals the nourishment of
another, commits as great a murder, as he who carves a man or
utterly undoes him. Such does a usurer, and he sits the while
on his stool, when he OUGHT to be HANGING from the gal-
"For we altogether condemn usuries, we shall impose se-
verer restrictions upon the consciences than the Lord Himself
desired ; while if we make the least concession, many will use
it as a pretext and will snatch at a bridleless license, which
can never afterward be checked by any moderation or excep-
IN EARLY ENGLAND
And again in the work of Elliot on Usury, page 262, we find :
"In the earliest periods of which we have any records, we
find that the doctrine, that the letting money to hire was sin-
ful, prevailed universally over the islands of Great Britain. It
was the prevailing opinion that interest, or usury, as it was
then called, was unjust gain, forbidden by Divine Law, and
which a good Christian could neither receive nor pay. In com-
mon law the practice of taking increase was classed among
the lowest crimes against public morals. So odious was it among
Christians that the PRACTICE WAS CONFINED ALMOST
WHOLLY TO THE JEWS, WHO DID NOT EXACT USURY
OF THE JEWS, BUT OF CHRISTIANS."
"The laws of King Alfred, about 900 A.D., directed the
effects of money lenders upon usury should be forfeited to the
King, their lands to the lords upon whom they were held, and
they should not be buried in consecrated ground.
"By the laws of Edward the Confessor, about 1050 A.D.,
the usurer forfeited all his property and was declared an out-
law and banished from England. In the reign of Henry II about
28 LINCOLN MONEY MARTYRED
the close of the twelfth century, the estates of the usurers were
forfeited at their death and their children were disinherited.
"His successor, Richard I, was yet more severe, forbidding
the usurers to attend his coronation, nor would he protect them
from mob violence.
"During the thirteenth century the severities against the
usurers were not relaxed. King John confiscated their gathered
wealth without scruple. It is recorded that he exacted an enor-
mous fine of a JEW IN BRISTOL for his usuries and when
the JEW REFUSED TO PAY, he ordered one of his teeth to
be drawn daily until he should pay. The Jew is said to have
endured the pulling of seven, BUT THEN WEAKENED AND
PAID THE PINE. It is written in the Chronicles of England,
1251 A.D., 'By such usurers and licentious liurs as belong to
him, the realms had already become sore corrupted.'
"In the fourteenth century, under the three Edwards, the
taking of interest was an indictable offense, and Edward III
made it a capital crime.
"Attorney General Noy, in the reign of James I, thought
the taking of money by usury was no better than taking a
man's life. He said, 'Usurers are well ranked with murderers' !"
A HISTORY OF MONEY AND BANKING OF EARLY EUROPE
The following excellent treatise on early European banking
practices and money is the most revealing and extensive the au-
thor was able to obtain on this period and is reprinted with per-
mission from the book, "What Is Coming," by Lyman E. Stowe.
"With the destruction of Commerce, which always comes
if the shrinkage of the volume of money is great enough, came
poverty, distress, and loss of patriotism, and the final downfall
"With the breaking up of the great Roman Empire, came a
swarm of small republics. Each of these tried to excel the
others in offering protection in opposition to individual privi-
"The Florentines guarded their political rights with such
jealous care that they held their elections every two months.
' ' It was Venice, one of the independent cities, that gave birth
to the mother of our present credit system that turned the tide
of commerce from a downward to an upward current, which
gradually led to a higher state of civilization.
"For many years the money center rested Avith two indepen-
dent cities — Venice and Genoa.
"Before I proceed further I will give a brief description of
LINCOLN MONEY MARTYRED 29
BANK OF VENICE
"This bank was established in the year 1171, and fell with
the fall of Venice in 1812, thus standing for nearly six and a
"The Bank of Venice was a governmental bank. The Veni-
tian government was at war and needed funds and was com-
pelled to resort to forced loans from its wealthy citizens, for
which it gave credits in bank. These credits were transferable
through a sort of tally system ; in part or in whole, they were
also receivable for taxes and dues to the government.
"The government entered into no obligation to repay the
money. But Colwell, in his 'Ways and Means' says : 'Reimburse-
ment of the loan ceased to be regarded as either necessary or
desirable.' Thus credits ran up and stood at a premium of 30
per cent above coin, but was finally fixed at 20 per cent above
coin, and this because of their being accepted for all dues to
the government. At first the government paid interest on de-
posits but this was abolished in 1423, and all bills of exchange
payable in Venice, whether domestic or foreign, were decreed
payable through the Bank of Venice, unless otherwise specified
in the contract. For the long existence of this bank Colwell
says that they never suffered one panic. He further says : ' ' That
the inhabitants of Venice were satisfied. We cannot doubt, as
not an objection was ever made to the bank, at least none is
extant, neither book, nor speech, nor pamphlet have been found
in which merchant or dweller in Venice ever put forth any
condemnations of its theory or its practice'."
"NoAv what have our gold bugs who scream fiat for the pur-
pose of scaring investigators away from the grain of truth, to
say of this bit of financial history?
"Fiat, indeed ! It was this fiat system that fanned the dying
spark of civilization back to life."
THE BANK OF GENOA
"Was a sister bank of the Bank of Venice, and was established
early in the thirteenth century. Like the Bank of Venice it had
its origin in the necessities of the State, though loans upon which
it was based were not forced but were the spontaneous offerings
of the people. According to Caldwell, the Bank of Genoa was the
first to originate the bank note. The bank fell with the overthrow
of the government at the same time as the fall of Venice.
"For many years these three cities, Venice, Genoa and Florence
were the money centers of the world. But such a system of the
people's money was not pleasant or desirable to the usurious
class, consequently, as the "Star of Empire" drifted westward
the money loaning class sought pastures new, and for a time lo-
cated in Amsterdam where favorable privileges were granted.
30 LINCOLN MONEY MARTYRED
THE BANK OF AMSTERDAM
"Was founded in 1609, on strictl}^ commercial basis, and not
to afford any assistance to the government. As before stated,
Amsterdam was the commercial center of the world, and, of
course, offered the greatest inducements for a moneyed center.
"The bank was established on the principle that coin once de-
posited, could never be withdrawn, but the people holding its
notes knew that the specie was behind them, and it might just as
well have been at the bottom of the sea, as it was not convertible.
The bank's first capital consisted of silver coins, Spanish ducats,
but foreign coins of all kinds soon flowed into the bank, and were
received at nine per cent discount. These coins were melted up
and the metal sold, which of course helped to enrich the banking
"In 1672, when Louis XIV penetrated to Utrecht, a great fear
arose, and people who had accounts with the bank demanded
coin, but this was met so promptly that confidence was restored.
But in 1790 the bank refused to return in coin a less amount
than 250 florins.
"Notwithstanding, it was supposed that the bank contained so
much coin in its vaults, it became a heavy loaner to great cor-
porations. It loaned the East Indian Trading Company more
than 10,500,000 florins, which sum of course it was unable to
make up to its dej)Ositors, and so it assigned its claims and ex-
pired. So much for the first failure of a specie basis promissory
note banking institution."
THE BANK OF HAMBURG
""Was established in 1619 on the model of the Bank of Amster-
dam. It is still in existence, and is a flourishing institution. (1896)
"For a number of years prior to the fall of Amsterdam the
commercial center was gradually changing from Amsterdam to
"Holland had become rich and prosperous, and no great con-
traction of the volume of money had ever taken place, and after
the fall of the Bank of Amsterdam, Holland adopted a favorable
currency system that has kept financial panics at bay.
"England had for many years been a good stamping ground
for the usurer — both Jew and Gentile.
"The English nobility, or governing classes, were mainly the
direct descendants of the old Vikings or Norsemen, a piratical
class of adventurers from the far north, and of course were just
the class to be bribed and influenced by the usurious money
loaners, and as a nation she still pursues a piratical policy toward
all weaker countries. But with all her faults she has always been
a progressive country, and consequently always required a large
volume of circulating medium. Like old Rome, for a great length
of time she had no other means of increasing that volume than by
LINCOLN MONEY MARTYRED 31
reducing the amount of metal in the coin. Finally in the reign of
Henry I., from 1100 to 1695, the tally system was adopted, a
money fabricated out of wood. Says Jonathan Duncan, the his-
torian: "Its intrinsic value was no more than the value of the
wood of which it was fabricated, but its representative (or com-
mercial) value denoted large sums."
' ' These were called exchequer values, and the system was simi-
lar to our greenback system, and it extended down to 1694, when
the specie basis. Bank of England was established ; then the tally
system was abolished and it brought ruin. The result of this sud-
den contraction is given by Devant, as follows:
"The government appeared like a distressed debtor who
was daily squeezed to death by the exorbitant greediness of
the lender. The citizens began to decline trade, and to turn
usurers. Foreign commerce had infinite discouragement. 'We
are going headlong to destruction with carrying on a losing
trade with our neighbors, and what has brought us to this low
"When paper money flourished (credits) and tallies per-
formed all the offices of money, the great payments for land or
rich goods, were therefore easily made, the king's duties paid,
and all kinds of business easily transacted."
"Read this and stick it under the nose of the knave or fool who
howls "Fiat!" the moment you speak of a government money
made of cheap material.
"We must go back a little and refer once more to the de-
basement of British coins." Says Encyclopedia Britannica : "At
the close of the thirteenth century the pound sterling con-
tained what its name implied, a pound weight of silver, of 112
fineness, the penny, which was the commonest coin, containing
a two hundred and fortieth part of a pound. Between this
period and the Sixteenth century her penny was reduced to
one-third its ancient weight.
"The English pound now worth $4.84 of our money (1896), if
expressed in our dollars, would weigh less than five ounces, and
the commercial value of the commodity worth about $2.80. The
above valuation shows us that silver was the standard metal of
England down to 1817.
"From Henry VITI. there was a continual debasement of the
metal money down to 1551, and says the Encyclopedia Britannica :
"An attempt was made at the conclusion of this reign to issue a
coinage of genuine quality, but as the base money continued in
circulation, the attempt was futile." This shows us that the
people preferred a money that cost but little for the material of
which it was made, and that the desire for a high priced com-
modity came from another source, i. e., the money loaning class,
who wished to make money out of it. To quote another :
32 LINCOLN MONEY MARTYRED
''Queen Mary was anxious to restore the ancient standard,
but found it impossible to do so. However, Elizabeth called in
her father's and brother's base money at a low fixed rate,
which gave her a considerable profit, and put into circulation
money of the old character and quality. This was effected in
"The contraction of the volume of money, through this
change, was soon felt in the war of commercial distress, but
the dire results of a dissatisfaction did not reach its height
until the autumn of 1642 — 82 years after the civil war broke
out under Cromwell. Dissatisfaction and rebellion do not fol-
low immediately upon the heels of the cause, but take years to
reach the point of explosion.
"The metal in the coins was reduced again in Cromwell's
time. But look at what a cost of suffering and blood that was
necessary before the people got back to a cheaper and more
plentiful money. For many years the goldsmiths of England
were the bankers."
Usury, the Persistent Cause of Sin and Crime
After all these experiences down through the centuries with
the practice, and results of the practice, of usury, it would seem
that the people of the civilized world would have banded together
and outlawed usury once and for all.
Such was not the case, however, and usury was to come back
into power, stronger than ever, and has continued to gain in
strength, until today it has the whole world in its strangling
grasp. And there is a very definite reason why it revived and
came back stronger than ever and continued to grow in strength
and power throughout the centuries.
That reason was threefold : first, there was a feeling at that
time among most of the people that nothing but gold and silver
could be regarded as "money." It was the common belief that
money must have within itself a real value. This restriction
worked to the advantage of the money lenders or usurers, in
that the volume of money, both gold and silver being compara-
tively small, they could and did combine and conspire together
to hoard it and keep it out of circulation. And the effect of this
was, as we have it here, and all over the world right now — and
for the same reason — a strangulation or restriction of all business
life, even to international trade.
The second reason for usury's revival was that the Jewish
usurers revived their age old practices of collusion with and
bribery of lawmakers or public officials, who accepted bribes or
loans of money in exchange for influence or privileges of usury.
The third reason was the extension and elaboration of the
Jewish usurer's method of transferring money to keep from
being robbed. In those early times, usury was not lawful and
LINCOLN MONEY MARTYRED 33
usurers did not have the protection of the law, so they con-
spired and agreed among themselves to take "trade acceptances"
or certificates of credit on transferring money between them
without transferring the money and subjecting it to robbers. If
the transfer certificate was stolen and presented by anyone but
the true bearer it was assigned to, it was not paid. This practice
was in all probability the ancestor of our present checking sys-
tem in this country, which, of course, enables commerce to be
carried on with promises, instead of with real money, the money
staying in the banks where it can be controlled.
Thus the usurers or money changers could handle or manipu-
late money between themselves to the confusion of all other
people as to its whereabouts and as to how much there was in
Instead of being so clever as some people claim they are with
their various schemes, doesn't it appear by the foregoing, and
the temple tax and "half -shekel of the sanctuary" episode, that
they (the money changers) are just persistent instead of clever,
and use the same old tricks handed down for centuries?
Turning again to early England, we find the usurers kept
playing their nefarious game, and when repressed too strongly
they would conspire together and hide or hoard all the gold and
silver money and practically strangle all industry and trading
for want of money to trade with.
Thus by hoarding and keeping money out of circulation,
business was strangled, or as we now say, a "Depression" oc-
curred, and it became so bad in the time of Henry VIII, that he
was "induced" to permit lending at interest of less than 10% in
order to induce the money changers to let loose of enough money
to get trade going again and people employed. This episode it
would seem, was the real begining of the legalizing of the vicious
and lecherous practice, which was, forever after, to continue to
get more and more concession and "privileges" from the law-
makers and rulers in one way or another, right down to our
present time, when the power of money seems to rule all civilized
Quoting again from Elliot on Usury: "Edward VI revised
the old laws condemning interest. Mary I next following, execut-
ed these laws with extreme severity and the usurers again re-
newed the hoarding of gold and silver."
The law of Henry VIII and the decree of Elizabeth, in which
she said, "The law should be strongly construed for the repres-
sion of usury," were the laws of England with the rate of in-
terest reduced until the year 1854, at which time all laws on
usury were repealed.
In the meantime, however, the money lenders had entrenched
and established themselves as a going "business," legalized, and
working with the established government, in an institution of
34 LINCOLN MONEY MARTYRED
their own, destined to become the world's money capital for
many years to come.
This was brought about by the establishment of the "Bank
of England" in 1694.
England was in a war with France and needed money very
badly to carr}- on the war. It is well to note right here, that be-
ginning with this momentous event the establishment of this
first large and governmentally recognized bank, in England, that
its "Charter" and practically all subsequent "enlargements" of
the activities and privileges that followed, as well as all others
to follow in the various countries of the world, were obtained in
times when the various governments were under conditions of
stress, and generally in times of war, when it was absolutely
necessary for the government to have "money" with which to
carry on the war.
The reader maj' find with little trouble that there are likely
some "banking interests" allied with munition firms, in which
they also control the policy and get the profits, being beyond a
reasonable doubt also connected with, or instrumental in origi-
nating, or bringing about "conditions" which cause these wars
between peoples and nations, in such cases "banks" may and do
"finance the government" with an economic gain to themselves
and an enslavement, by "debt" of the producing classes of the
nation, the debt and interest being loaded on, of course, in in-
creased cost of commodities, and taxes, which in the end are
always paid by the same producing classes.
History of the Origin of the Bank of England
In the case of the Bank of England being given a name to
imply that the bank was owned by the Government, there was
established a practice of misnaming Banks that has been fol-
lowed through the ages to the present day. Deception, make be-
lieve, do you say? Surely, but we must remember they are found
to be two of the greatest and most effective weapons or tools of
the "money changers" and always have been from the time of
Moses down to the present.
They have purposely, consistently and continuously used
these tools to get their schemes established and fastened upon
the people and the government by laws, and once established
they were, and are, next to impossible to repeal or remove. Mur-
der, in single or wholesale, has been used all down through the
ages to remove those who have had the nerve to try to resist their
practices, or try to repeal or remove laws once established by
this conspiracy and bribery.
LINCOLN MONEY MARTYRED 35
The following historical comments on the origin of the Bank
of England from the Encyclopedia Britannica, 14th edition, Vol.
3, p. 52, give us a pretty clear idea of the methods of the money
changers in getting their schemes established. The reader will
please note that the Bank was not established by a law called a
"Banking Law," but by an act called a "Tonnage Act." Later
you will see that silver was demonetized in the United States in
1873 by a bill that did not disclose its purpose in its name, and
was, in purpose and effect, not known generally for years, but in
that time had worked its ghastly havoc.
Note also that the Bank of England's charter conveyed the
privilege to the bank of issuing Bank Notes or paper money to
the full amount of its capital ; its capital in gold being all loaned
to the Government at 8% interest with which to carry on the
war with France, the Bankers thus had the 8% interest on their
capital loaned and all their money back in the issue of paper
money to lend at interest to other people in trade and commerce.
Pretty soft, wasn't it, for the Bankers?
THE ENGLISH BANKING SYSTEM FOUNDED
Excerpt from Encyclopedia Britannica, 14th Edition, Vol.
3, p. 52:
"Founders, John Thompson and Son — Samuel C, Cashier,
Isaac W. White.
"The Bank of England was not the original scheme of
William Patterson, its founder. As is usual in English political
history, it came into being almost by the back door, deriving
its life from the Tonnage Act of 1694, of which the preamble
read, 'An act for granting to their Majesties several acts and
duties upon tonnages of ships and vessels, and upon beer, ale,
and other liquors, for securing certain recompenses and ad-
vantages in the said act mentioned to such persons as shall
voluntarily advance the sum of fifteen hundred thousand
pounds towards carrying on the war with France.
"The bank clearly arose from the deal (Is this where we
get the New Deal? — author) bet\veen the Government and its
promoters, the former receiving cash and the latter the privi-
leges. The capital was £1,500,000.00, the whole sum of which
was advanced to the Government at the rate of 8% plus £4,000
per annum for expense or £100,000 per annum in all !
* ' The privileges of a bank were granted for 12 years to the
corporation, which was allowed to deal in bills or exchange or
bullion, but not in merchandise, and to issue notes up to a
volume equal to its capital."
36 LINCOLN MONEY MARTYRED
The English or Money Changers Banking
System Started in the United States
"VyrE now come to the banking system of our own country. In
»▼ 1700 Mayer Amschel Rothschild is recorded as saying :
"Permit me to issue and control the money of a nation and
I care not who makes its laws."
The next year, 1791, with his help, the First United States
Bank was established in this country. That gave him and his
henchmen just that power.
As each of the thirteen (13) colonies were organized into
States, they fixed a limit of 6 per cent interest that might be
charged for loaning money and a penalty of the principal being
forfeited by the lender if he charged more than 6 per cent. How
times have changed money practices !
The people in the colonies were principally from England,
Scotland, Ireland, and Germany, and being used to the lending
systems there, and knowing that England had been compelled
to surrender to the money lenders in 1694, when the Bank of
England was established and usury legalized, they had been led
to believe, likely through sentiment built up by usurers and their
agents (today called propaganda), that this was the only way
that the money question could be handled.
There was a prevailing opinion in the newly organized States,
as there had been in England, that nothing was real money except
that made of gold and silver. So, the United States Congress
passed an act establishing government owned and operated
"Mints" where all gold and silver that was brought to them
would be coined into money free of charge, it being deemed a
necessary governmental duty. It was hoped that this would so
stimulate the production of those two metals as to furnish an
adequate supply of money.
So-called State Banks (being privately owned, however) were
also allowed to be incorporated and were allowed to issue paper
money, but only to be redeemed in money of gold or silver coin-
age. They could only loan their real money, or keep it and loan
paper money, but not both.
This privilege, as had been the rule with nearly all privileges
pertaining to money and banking, was abused. In some instances
the bankers being unable to withstand the temptation to issue
more money (paper) than they could redeem; some, of course,
"went broke" even as they do today when called on to redeem
All this time, since the establishing of the new Nation, the
development of the country was increasing and money was never
adequate to take care of new needs and expansion, and there
LINCOLN MONEY MAKTYRED 37
arose a movement for the establishment of a "New Deal" in
banking. After years of agitation and maneuvering and manipu-
lation, in 1791, Congress was induced to pass a law (after long
debate and strong opposition) chartering the "First Bank of
the United States."
The reader will please note here that the identical tactics that
were used with the establishing and naming of the Bank of Eng-
land were again used, namely — the naming of the new bank the
"Bank of the United States;" making it appear to be, without
saying so, a bank owned by the government, that, of course,
giving it the advantage of the prestige of the government, and
the belief of the people of its consequent safety for the money
they were to deposit in it.
More deception and make believe? Certainly, and as before
mentioned, these are two of the main "stocks in trade" of the
"money changers" or usurers.
It is most unbelievable, even at this date, to find the vast num-
ber of people here in the United States actually believing, and
who will argue for hours that the Federal Reserve Banks are
"owned" by the "Government." Such, of course, is not true, as
they are owned by private interests as was the Bank of the
United States in 1791.
The first United States Bank was strongly opposed by both
Edmund Randolph, the Attorney General of the United States,
and the Secretary of State, Thomas Jefferson.
This law was drafted and advocated by Alexander Hamilton.
In looking up his record we find that he was born of a French
Huguenot mother, Rachel Faucett Levine, in the West Indies,
and was said at that time to be the illegitimate son of one James
Hamilton, a Scotchman, with whom his mother had lived ; but at
the time he was born, his mother was married to a Danish Jew
by the name of Levine. History also says that others besides
James Hamilton have been named as Alexander Hamilton's
Young Hamilton was furnished plenty of money to come to
the United States when fifteen years old and was educated in
New Jersey in a grammar school and entered Kings College (now
Columbia University) as a special student. Later he studied law.
When we consider carefully his life's story together with his
associates, and the backers in the "First Bank of the United
States" and the tactics used in that deal, the long established
fact of the Jewish money barons extending their help in money
and credit to their own people, in any and all lands for obtaining
trade and special privileges, such as was obtained in the Bank
Charter ; and the fact also that at the time Hamilton came to the
United States, the Jews were not allowed citizenship here, and
furthermore, that illegitimacy was not considered such a moral
stigma by the vast majority of Jews as by Gentiles, as witness
38 LINCOLN MONEY MARTYRED
the customs said to be put into operation in Jewish controlled
Russia, since the Jewish Communists took control, and in many
places throughout the Old Testament ; considering all these things
carefully and thoughtfully, and Hamilton's action in after years,
one may well be able to come to the conclusion that "deception"
and "make-believe" were practiced by Hamilton, even before
the "Bank of the United States" episode, and that he was, as
some Jews are said to admit privately, and to boast of actually,
the Jew's son to whom his mother was married and adopted the
name of Hamilton with what stigma of illegitimacy attached to
it, to obtain for himself the coveted citizenship of the United
States, a most promising young nation.
At any rate, his citizenship Avas to be a great thing for him,
as he became a very wealthy man, with a high social position,
something impossible for a Jew to obtain at that time. He was
rewarded in the end with a violent death in a duel at the hands
of Aaron Burr. (It is recorded that the United States accorded
full citizenship to Jews in 1783, the first nation in the modern
world to do so.)
The first "Bank of the United States" was chartered for
twenty (20) years, 1791-1811, and had a capital of ten million
dollars. It did a thriving business. In 1809 a bill was put before
Congress to renew its charter, which was to expire two years
later. The debate in Congress on this bill was very heated, and
the State Legislatures in both Pennsylvania and Virginia passed
resolutions memoralizing the National Congress to prevents its
passage. History tells us that Thomas Jefferson was violently
opposed to the renewal bill.
After the First Bank of the United States had been working
a sufficient number of years to give Thomas Jefferson a chance
to form an opinion on it, he said :
"I believe that banking institutions are more dangerous
to our liberties than standing armies. Already they have raised
up a money aristocracy that has set the government at defiance.
The issuing power (of money) should be taken from the banks,
and restored to the Government and to the people to whom it
He could not have said more in a thousand words, and the
above surely places the great Jefferson on record for all to see.
Mr. P. B. Porter, a Congressman, said :
"Let the principle of construction or implied power be
once established in the extent to which it must be carried, in
order to pass the bill (the Renewal Bill) and you will have
planted in the bosom of this Constitution a viper, which one
day or another will sting the liberties of this country to the
The newspapers of that time are quoted as calling the bank
bill "A great swindle," and in other places referring to the bank
LINCOLN MONEY MARTYRED 39
as "A vulture," ''A viper," and "A cobra."
It would seem that in view of the last quotations the press of
those days enjoyed a real freedom and were not obliged to print
only what special interests or large advertisers wished or allowed
them to print. As far as the press is concerned — "those were
the good old days."
It would seem also that the majority of Congress of those
days had a goodly quantity of real character, and the intestinal
stamina to stand up and vote for the good of the people, for the
"renewal bill" was killed and the first "Bank of the United
States" ended, but with its ending did not end the activity of
the money changers.
The reader's attention is called at this time to two facts:
the first, a condition of business and trade known as "good
times" occurs when "money" is easy to obtain, and there is
plenty of it in circulation. There is only one thing that makes
money "easy" to get to do business with, and that is the attitude
of mind or the "feeling" of the man or group of people that have
the money in their possession. It is a fact that "money" as such,
with very few exceptions, all down through history has always
been in "few" hands, and if the possessors are permitted to do
just what they please with it, loan it at usury, buy up and ' ' cor-
ner" foodstuffs or other commodities, and necessities; corrupt
politicians and lawmakers to get them to pass laws enabling the
"money lender" or "money possessors" to have special privi-
leges, or to control public lands for their special benefit or any
other privilege or thing they might think of or conceive, then,
they are well pleased and will invest or loan or let loose of their
money, and money is then said to be "easy" and "good times
are had by the masses." These people are well called the preda-
Second, there is a condition of business and trade known as
"hard times" as is aptly, if unintentionally, put in the good old
American song, "My Old Kentucky Home," "Bye and bye hard
times comes a knocking at my door, then my Old Kentucky Home
goodnight." That is just exactly what happens when hard times
comes to many ; for of the masses many are compelled to say
"good night" and "good-bye" to their homes, their businesses,
and other possessions, for which thej^ had slaved many years to
obtain, only to lose because money was "tight" and jobs scarce.
These "hard times" and "tight money" are real conditions.
Money is hard to get hold of by the masses, because the money
possessors "hold tight" to it and do not put it into, or let it get
into circulation. Mark well, these times occur, when the money
possessors want some special condition or special law to permit
or enable them to loan their money at interest or usury, or get
the rate of interest enlarged, or to get some special privilege in
trade or commerce to enable them to get special advantages over
40 LINCOLN MONEY MARTYRED
competition, or (and here is a very large reason) to scare the
masses of people, their legislators, or Government into giving
them what they, the money lenders, want, or to "discipline" or
get revenge upon the masses, or the government for "acts" or
"laws" passed or established, limiting, curbing, or taking away
some special privilege or concession they have had before, to the
great detriment and loss to the people as a whole.
The reader will be well advised to read and memorize these
"reasons" for good and bad, or hard times, or times of "easy
money" and "tight money," as the vast majority of "ups" and
' ' downs ' ' of business and trade the world over are directly trace-
able to the tw^o foregoing "reasons."
We will now return to the "killing" by Congress of the "re-
newal bill" for renewing the charter of the first "Bank of the
United States." As before mentioned, this bank had paid-in
capital of ten million dollars in gold and silver money, and when
the bank's charter expired in 1811 the bank had to be liquidated
and this "capital" was all returned in cash with interest or
profit of something like 8 per cent.
This was a great amount of cash to be put back into private
hands at one time for that day and time, and one would naturally
suppose that the money lenders would be eager and willing to
lend it right out again to anyone with "security" who might
want it, and "easy money" and good times would be enjoyed by
all. But such was not the case. The reader will please remember
the operation of the second "reason" or the reason for
the cause of "hard times." These money changers, or usurers,
had been deprived of a most valuable "concession and privilege"
to loan and issue money, which was making them millions of
dollars, ,and they w^ere not going to submit meekly to any such
treatment. So, having been able in twenty years' operation of
their ' ' bank, ' ' through interest ' ' compounded ' ' and the power to
issue money themselves, also, to gather to themselves nearly all
the actual gold and silver in the States at the time (at least that
group and other money lenders together had), they proceeded
to hoard it, and hold it out of circulation.
There is, of course, no record at hand of actual conspiracy
and collusion, but the fact remains, as records of conditions at
that time clearly show, that the most of them began hoarding
their gold and silver money as it came in, and to refuse to loan
it, or let it get into circulation in any way, and soon a big
"panic" or time of "tight money" or "hard times" was on, and
business and trade was in a stagnant condition. For this there
was only one reason, and the one reason that always causes it,
namely, the shortage of money, brought about by the "money
changers" or "money possessors" hoarding their money, refus-
ing to either loan it out, or put it into circulation by purchase,
or by other activities that require money.
LINCOLN MONEY MAKTYRED 41
This hoarding by the former owners of the closed "Bank of
the United States," and other private money lenders, not only
stagnated business all over the country, but had taken so much
real "money" out of circulation that the "State banks," which
were comparatively small at that time, were unable to stand the
strain of withdrawals, always brought about by "fear," which
the money lenders are said to be careful to spread abroad at such
Consequently, nearly all of the small state banks failed, and
closed with untold suffering to the masses and more stagnation
of business, the same as has happened since October, 1929, and
for identically the same reason, only this last "depression," as
will be shown later, had more complications.
Considering the claim that much of the stock of the "Bank
of the United States" was owned by English money changers,
and remembering their habit of revenge and discipline on those
who injure or thwart their plans, it may not be a very wild pre-
sumption that they may have had something to do with provok-
ing the cause of the war of 1812 between England and the United
States, the year following the revoking of their Bank Charter,
in order to discipline the "upstart" Republic for so refusing to
let them operate.
We can gladly remember, though the discipline was applied
to them instead, and administered by good old Andrew Jackson
at New Orleans, who was also to beat them again later in another
It is a notable and significant fact in this connection, that
the American business "activity chart" of 1931 by the Cleveland
Trust Co., shows the amazing fact of a "war depression" at the
time of the war of 1812, though wholesale prices are shown as
being away up high as in other previous wars, while in all other
wars we had a "war prosperity" era during the wars. One may
well conclude that this "depression" in the war of 1812 was
"managed" for the foregoing reasons.
It is one of the saddest of facts that in those times as now,
not a sufficient number of the National legislators understood
the money question or the idea of a scientific money system
whereby any government can create a good, usable, steady, stable
money supply that will serve any and all inhabitants to the bene-
fit of all, and the loss of none.
So it was to happen, as it has many times since, in one way
or another, through misinformation (in which the money lending
fraternities are said to excel) and through bribery, persuasion, or
social prestige, offered the National Congress, that they were
finally prevailed upon in 1816 to grant another "charter" to the
money lenders for the second Bank of the United States.
And just to show you how well the first "Bank of the United
States" functioned, and how much money had been made with
42 LINCOLN MONEY MARTYRED
its special privileges, and how much of the Nation's supply of
money they had been able to get hold of through their special
privilege interest racket, and hoard and hold out of circulation
and cause a panic with, they were able to and did, charter the
second "Bank of the United States" for, not ten million dollars,
but for THIRTY-FIVE MILLION DOLLARS!!
Three and one-half times as much money as they had had for
the first one in twenty years. Not bad for those times !
This bank charter was to run for another twenty years, but
the money changers were to feel the weight of the hand of one
of America's real characters before the expiration of their char-
ter. Right away, however, the new bank began to establish branch
banks like its English ancestor, the Bank of England, had done,
until it had branches in nearly all of the principal cities of the
United States. Through the establishment of these branches, and
the bringing into it institutions of money lenders in all parts of
the country, and making the Banks' interest their interest also,
their political influence was enormously increased over the nation.
History says, "good times" were the order of the day, and
why not? Had not the money lenders been able to get their "spe-
cial privilege" to loan at interest "compounded" legalized, and
the power to issue money returned to them? They soon estab-
lished themselves on a basis never before enjoyed. And was not
this great country all ready to be exploited, and were there not
millions of sturdy, hard-working, honest, fearless, w^hite Chris-
tian Americans to do the developing, with the "loans" of the
money changers and to be themselves exploited through the in-
Does not the "reason" number one of the cause of "good
times" work in this instance, or does it not? Read it again now
and see. Referring again to the aforementioned chart, we find
that this era of "good times" lasted until the spring of 1819;
then they had what is called in the aforementioned chart, a ' ' Pri-
mary Post War Depression" until 1821, when up went business
and a time noted in the chart as an "Era of Good Feeling" and
from that time on, to May, 1835, there wasn't a 10 per cent varia-
tion from normal, either good or bad. Then up went business in
a great way, and for a reason you will soon see.
The second "Bank of the United States" charter was to ex-
pire in 1836, so in 1831 there was a bill presented to Congress
for renewing the Bank's charter and it was passed by a small
Andrew Jackson, having been elected President in 1828, im-
mediately began to show his feelings toward the second "Bank
of the United States" by having the money of the Government
removed from it and depositing it in State banks.
LINCOLN MONEY MARTYRED 43
The president of the "Bank of the United States," Nicholas
Biddle, had gone to President Jackson in 1832 to try to get a
law passed giving them permission for his bank to establish
branches in principal cities of the Nation ; explaining to the Pres-
ident that if they could get these branches established, they
could soon get enough prestige to be able to control the policies
of the whole country.
Biddle was to find that he had made a grave mistake in "char-
acter reading" when he put such a proposition up to President
Andrew Jackson, for no sooner had Mr. Jackson heard what
Biddle had to say, than he promptly told him, that if such a
thing were possible, that "that thing" was a menace to the
Nation, and that instead of helping him get permission to estab-
lish branches, that he, Jackson, would do all in his power to keep
him from doing so ; and not only that, but he would also do all
in his power to have the bank charter extension bill beaten when
it came up.
Mr. Biddle replied that if Jackson was going to act that way
about the matter, he (Biddle) and other bankers would finance a
campaign to prevent Jackson's re-election to the presidency.
President Jackson replied to that with one of the bitterest presi-
dential campaigns ever held ; in which he fought the bankers to
a finish and won his re-election by a handsome majority.
The bankers are said to have spent about three million dollars
of the "easy money" the government had furnished them under
the "Bank of the United States" charter, at a cost to them of
one-half of one per cent, but even this enormous slush fund was
not enough to beat the "Old Warrior of New Orleans" fame with
his message of "Truth," which yet at that time the common peo-
ple were interested in, understood, and supported.
President Jackson said in that campaign :
"If Congress has the right under the Constitution to issue
paper money, it was given them to be used by themselves, not
to be delegated to individuals or corporations."
Another noble example of an honest and rugged character in a
high American office.
The money changers had been able to "reach" enough Con-
gressmen to get this bill passed, but were unable to touch Presi-
The congress was not able to pass the bill over the President's
veto, so that left the Bank's charter to expire in 1836.
Referring again to the Cleveland Trust Company chart, we
find a "boom" noted as a "Bank Credit Land Boom" in 1836
and extending into 1837 ; and then all of a sudden — bang ! and
down went business ! One may surmise that the bankers, seeing
their "loaning days" were to be over in 1836, loaned all the
money out, believing they could get good returns for their money
on a land boom, and when the loans stopped suddenly and hoard-
44 LINCOLN MONEY MARTYRED
ing, by the money changers, was again the order of the day,
down went business into a "tailspin" for two years.
We next come to an interesting phase of money and its ef-
fects on business, by noting the general prosperity of the whole
country, from the money in gold, put into circulation from the
great California gold fields from 1849 to 1857, showing clearly
that as long as "new" money is adequately added to our circu-
lating medium, in sufficient quantity, business will be "good."
Next, we come to probably the most critical period in the
history of our country from a money and banking standpoint,
as well as from the grave danger of a severed Union — that during
the Civil War from 1861 to 1865. The struggle that was to rid
the country of human slavery of the black race, however, was
also to fasten upon the whole nation an economic or money
slavery, which has endured to the present time, and because of
which our country's life is in very grave danger.
The Birth of Lincobi Full Legal Tender Money
ABRAHAM LINCOLN had been elected President, and in spite
of his assurance of a sincere desire to serve all the country
alike, the Southern States had "seceded" from the Union and
established a government of their own, called the Southern Con-
federate States of America, seizing Port Sumpter and other Gov-
ernment "stores" and arsenals, and so the war was on.
Lincoln called for volunteer soldiers for three months, think-
ing the emergency would soon be over. Such, however, was not
to be the case, and when the three months enlistments were up,
it was very plain then that it was a real war, and also that the
government had no ready money with which to equip an army
and proceed with the war.
It is said that Lincoln and his Secretary of the Treasury went
to the "bankers" or money lenders of New York and applied for
loans to the Government to carry on the war ; the bankers reply-
ing, "Well, war is a hazardous business, but we can let you have
it at from 2^% to 36%."
Appleton Cyclopedia, 1861, page 296, says :
"The money kings wanted 24% to 36% interest for loans
to our government to conduct the Civil War."
The President and his Secretary are said to have heatedly
refused, and stated the terms were outrageous, scandalous, un-
patriotic, etc., and the money lenders are said to have replied
that, "If the government didn't want the money at that figure,
why, they could loan it to the Southern Confederacy," and that
LINCOLN MONEY MARTYRED 45
is probably what they did. President Lincoln and his Secretary
were, of course, greatly disturbed and in a quandary as to what
to do and how to get money to prosecute the war and pay their
soldiers. During Lincoln 's worrying over this matter, he recalled
that he had a friend by the name of Col. Dick Taylor in Chicago,
in whom he had great confidence ; so he sent for him and put the
problem of finance up to him to solve.
"Why, Lincoln," Taylor is said to have replied, "that is easy;
just get Congress to pass a bill authorizing the printing of full
legal tender treasury notes or greenbacks, and pay your soldiers
with them and go ahead and win your war with them also."
"Do you suppose the people will take them?" Lincoln is said
to have asked.
And to this Taylor replied :
"The people or anyone else will not have any choice in the
matter, if you make them full legal tender. They will have the
full sanction of the government and be just as good as any
money; as Congress is given that express right by the Consti-
tution, and the stamp of full legal tender by the Government
is the thing- that makes money good anytime, and this will al-
ways be as good as any other money inside the borders of our
country. ' '
And so it is written that that very thing was done, the soldiers
were paid and some sixty million dollars of the full legal tender
greenbacks were issued. All were taken at par and never appre-
ciably fell below par at any time, as they were full legal tender
for all debts both public and private, and the integrity and re-
sources of the whole Nation guaranteed their value.
President Lincoln was greatly appreciative of this help of
Col. Taylor and just in order that the reader may have no doubt
of the matter, Mr. Lincoln's letter to Col. Taylor in regard to
this matter is herewith reproduced :
"Abraham Lincoln's letter to Col. Taylor," from the New
York Tribune, Dec. 6th, 1891.
"My Dear Colonel Dick: I have long determined to make
public the origin of the greenback and tell the world that it is
Dick Taylor's creation. You had always been friendly to me,
and when troublous times fell on us, and my shoulders, though
broad and willing, were weak, and myself surrounded by such
circumstances and such people that I knew not whom to trust,
then I said in my extremity: 'I will send for Colonel Taylor;
he will know what to do.' I think it was January, 1862, on or
about the 16th, that I did so ; j^ou came, and I said to you :
'What can we do?' Said you, 'Why, issue Treasury notes bear-
ing no interest, printed on the best banking paper. Issue
enough to pay off the Army expenses and declare it legal
46 LINCOLN MONEY MARTYRED
Chase thought it a hazardous thing, but we finally accom-
plished it and gave the people of this Republic THE GREAT-
EST BLESSING THEY EVER HAD— their own paper money
to pay their own debts.
It is due you, the father of the present greenback that the
people should know it, and I take great pleasure in making it
known. How many times I have laughed at you telling me
plainly, that I was too lazy to be anything but a lawyer.
But the wonderful condition spoken of by Mr. Lincoln was
not to continue. Our glorious country was not to have the con-
tinuous blessing of a paper money to pay its debts with.
As soon as Lincoln began to issue perfectly good full legal
tender greenbacks, good as gold anywhere in the country, the
bankers and money changers saw that unless they could stop
that sort of thing they were ' ' sunk ' ' so far as ever being able to
issue money again themselves.
The Foreign Money Changer Kills "America's
THE money changers had been able to fool and hoodwink
England, and keep her in bondage for 168 years, and they
wanted very much to continue, and to add the balance of the
world to their conquest ; making the people everywhere economic
serfs, working for them. They did not intend to give up such a
juicy plum without a "scrap."
So they began to polish their weapons of warfare, namely —
bribery, corruption of law makers, deception, make-believe, po-
litical pull, economic pressure, and all the rest ; all tied up nicely
with what propaganda they could make use of, and commenced
their battle for world domination through the power of gold.
The reader must remember here, in order to get the picture
clearly in mind that since the closing of the second United States
Bank money had been of coined gold and silver and gold and
silver certificates that the Mint would issue to the owner of the
gold, for his gold and silver coins and these coins were held by
the Government with which to redeem the certificates. In addi-
tion to these was the paper money the bankers were allowed to
issue but always to be redeemed in gold or silver. The idea of
any government being so wise as to figure that whatever they
wished to print and accept as money (the stamp of full legal
tender, of course, making it good for all debts) was absolutely
unheard of and the money changers certainly intended to get rid
of such a dangerous (to them) idea.
LINCOLN MONEY MARTYRED 47
So they began their campaign of trying to sell the masses on
the idea that such money was no good, a fraud, not "sound
money," and all the rest of the "bunk" that can be and is used
to confuse and befuddle the masses of the people.
The following editorial printed in the London Times about
the time Lincoln 's greenbacks were working all right, and paying
debts the same as gold ; will give the reader an idea of their (the
spokesmen of the money changers) opinion of "Lincoln Green-
backs ' ' and what they felt should be done about it,
"If this mischievous financial policy which has had its ori-
gin in the North American Republic (greenback issue of money)
during the late (civil) war should become endurated down to
a fixture, then that Government will furnish its own money
without cost. It will pay off its debts and be without debts.
It will have all the money necessary to carry on its commerce.
It will become prosperous beyond precedent in the history of
the world. The brains and wealth of all countries will go to
North America. That government must be destroyed or it will
destroy every monarchy on the globe." (From "Who Rules
America" by C. K. Howe.)
And that, dear reader, should be plain enough to inform you
just what the foreign money changers thought and expected to
do about it.
It is recorded that four days after the passage of the Legal
Tender Greenback law, there was held in Washington, D. C, a
"Bankers' Convention" where bankers from New York, Boston,
and Philadelphia were present, and one can well imagine their
activity was directed to obtaining the help and assistance of cer-
tain Senators and Representatives to get that legal tender money
law crippled or repealed, and another private banking monopoly
Right here we will take a look through the spy glass, and see
if we can see ' ' the helping hands across the sea, ' ' that were after
having such a bank to help us, and sure enough, there they are !
The same old money changers from London Town, of the "Bank
of England," "The Rothschild Boys" themselves.
The money changers of ' ' good old England, ' ' the same crowd
that helped Alexander Hamilton get his first "Bank of the United
States" into action, got busy and a document called "The Hazard
Circular" was distributed among the banking fraternity of
America, which contained the following language :
The Hazard Circular
"Slavery is likely to be abolished by the war power, and
chattel slavery abolished. This, I and my European friends
are in favor of, for slavery is but the owning of labor, and
carries with it the care of the laborers, while the European
48 LINCOLN MONEY MARTYRED
plan, LED ON BY ENGLAND, is that capital shall control
labor by controlling wages."
"The great debt that capitalists will see to it is made out
of the war (our own Civil War) must be used to control the
value of money. To accomplish this, the Government bonds
must be used as a banking basis.
"We are now waiting for the Secretary of the Treasury of
the United States to make this recommendation. IT WILL
NOT DO TO ALLOW GREENBACKS, AS THEY ARE
CALLED, TO CIRCULATE AS MONEY ANY LENGTH OF
TIME, AS WE CANNOT CONTROL THAT, BUT WE CAN
CONTROL THE BONDS AND THROUGH THEM THE
Does the reader need any more evidence to prove to him just
who was behind the enslaving "National Bank Act?"
Does the above "circular" show a Christian attitude (that we
hear so much about these days, and to which a special week is
set aside to be observed by all churches) of brotherly love, in
the helping "hands across the sea" or were they not reaching
for our money pockets to help themselves?
It doesn't take a Philadelphia lawyer to figure out just what
the money changers were after. It is very plain that they were
aiming at having the "Government's Power to issue full legal
tender greenbacks" killed, the act and power which you will
remember that "The Great Lincoln" had said was the "Greatest
blessing the American people had ever had bestowed upon them,"
and in its place, the money changers also wanted to put the Gov-
ernment into an enormous indebtedness to them for bonds and
get back the "power" to issue the paper money themselves on
Crooked? Criminal? Unconstitutional? Well, look around
you today and see what the consummation of their activity at
that time has accomplished, for right there began one of the
blackest pages ever to be written into the history of our glorious
country, binding our people link by link with a diabolical chain
of economic slavery that can well be called the direct cause of
all the grief, suffering, poverty, loss of homes, farms, business,
and all the widespread unemployment we are laboring under
today. Turn back and see what Thomas Jefferson, one of the men
who helped to frame the Constitution, had to say about private
banks issuing money.
One of the most awful, wicked, and dastardly links of this
chain was soon to be forged in the removal of "America's Great
Idol" and hero, who had sprung from the ranks of the common
people, to take the helm of government at the most critical time
in its history, and with his great courage, honesty, and wisdom,
to save the Union from dissolution and destruction.
LINCOLN MONEY MARTYRED 49
Remember, He was the man who first proved that govern-
ment could issue its own paper money, legally, honorably, and
rightfully, and make it full legal tender for all debts, both public
and private, and make it work as "The Greatest Blessing
America Had Ever Had."
Was he a dangerous man from the money changer's point of
Was he a thorn in their sides?
Could they have continued their knavery, trickery, bribery,
and destructive work and saddled upon our country a brutally
diabolical law like they did, and make it stick, if Lincoln had
With the help of the "Hazard Circular" and certain mem-
bers of Congress, the moneyed interests soon were at the job of
taking away the power of issuing full legal tender money by the
Govermnent, and the way they were able to accomplish it was
the following :
The reader will remember that the money lenders are said to
have demanded 24% to 36% interest from Lincoln for loans to
carry on the war, an average of 30%. Well, the next time the
President asked for an issue ($60,000,000 had been issued pre-
viously) of greenbacks, a monkey wrench was thrown into the
machinery in the guise of an amendment to the bill —
February 25, 1862: "Exception Clause" Act passed, making
the next issue of greenbacks read : Good for all debts both
public and private except duty on imports and interest on
As the reader will readily see, this clause i)ut the government
in the light of refusing its own money for duty on imports, and
gave the bankers an excuse to refuse or discount that issue, which
they promptly did, 30%, claiming that their clients would not
take them, as they could not ])ay their import duty with them,
therefore they were not "sound money."
Of course, it could not be intimated that they, the bankers,
had anything to do with making the greenbacks "that way."
Congress did that.
At any rate the money lenders got their "pound of flesh" in
the form of the 30% discount. The propaganda and conspiracy
against the greenbacks kept up and grew in strength as time
went on, forcing the value of the greenbacks lower and lower,
until Lincoln and his Secretary of the Treasury were compelled
to surrender and call the money changers in, Lincoln remarking,
so it is said, that he "could not fight two wars at the same time,
the Confederates at the front and the bankers in the rear, and
of the two the Confederates were the more honorable."
One of America's greatest patriots of that time. Senator Thad-
deus Stevens, said in one of his speeches on the bill, February
50 LINCOLN MONEY MARTYRED
"Mr. Speaker, I have a very few words to say. I approach
the subject with more depression of spirit than I have before
approached any question. No personal motive or feeling in-
fluences me. I have a melancholy foreboding that we are about
to consummate a cunningly devised scheme, which will carry
great injury to all classes of people throughout the Union.
In talking about the matter afterwards, Senator Stevens is
reported to have said :
"We had to yield; we did not yield until we found that
the country must be lost or the bankers gratified."
Nice lot of Sunday School boys, those bankers, and the Con-
gressmen, who put it over for them. The reader may be pardoned
for speculating on the kind of harps they are playing now.
The Money Changers Get Another Bank Law
AND what does the reader suppose the bankers did want ? Sure,
the same old thing, another bank charter and the power to
issue paper money themselves, as if their paper money could be
as good as full legal tender Government Greenbacks! Persistent
"cusses," weren't they? Been working on that since 1836, and
now that the country was so in the throes of a bloody Civil War,
and bending every effort to save the very existence of the Union ;
it was the most propitious time to wring such a concession from
the Government ! A nice, patriotic, Christian way to act, do you
say? Well, just remember that down through the centuries that
same trick had been worked time and time again by the same
tribe of people.
Does the reader not recall how the Bank of England got
Do we hear the reader saying, "Cutthroats," "Traitors?"
Well, maybe they were, it surely doesn't look just like what a
patriotic Christian gentleman would be guilty of doing, that is
sure. It does seem that the citizens at that time might have been
short of a good strong rope and a nice, large, strong limbed tree.
The money changers not only got away with some of the Nation's
money; they seized and MADE AWAY WITH THE WHOLE
SYSTEM OF MONEY.
The following excerpts taken from Judge Rutherford's book,
"Vindication," pages 168 to 179, said to have appeared over 30
years ago in a St. Louis (Mo.) magazine and their authenticity
has never been disproved, is a most complete and revealing evi-
dence concerning this act of Congress and men connected there-
with, and gives a most excellent outline of the working of the
LINCOLN MONEY MARTYRED 51
NATIONAL BANKING ACT
"The National Banking Law of the United States was
forced through Congress of the United States and enacted by
Big Business agents. The money lords of England and Amer-
ica dictated the conditions under which they would finance the
Union because much financing became necessary during the
Civil War. It is practically certain that the war between the
North and the South was fomented by the money interests of
Britain, the purpose being to divide the States, that the 'Old
Mother Country' might profit thereby. John Sherman of Ohio
was then a member of the United States Congress. . . . From
1860 to 1890 there was scarcely a great financial measure with
which John Sherman was not connected. . . Rothschild Broth-
ers were then the money kings of Britain. These money chang-
ers conspired with their allies in the United States in putting
through the United States Congress the National Banking Act.
Letters passed between Rothschild Brothers and Iklesheimer,
Morton, and Vandergould, of Wall Street, New York; two of
which letters, together with a circular appearing with them
and which relate to the National Banking Act, are published
Rothschild Brothers, Bankers,
London, June 25th, 1863.
Messrs. Ikleheimer, Morton, and Vandergould,
No. 3 Wall St., New York, U.S.A.
Dear Sir: A Mr. John Sherman has written us from a town in
Ohio, U. S. A., as to the profits that may be made in the Na-
tional Banking business under a recent act of your Congress,
a copy of which act accompanied his letter. Apparently this
act has been drawn upon the plan formulated here last summer
by the British Bankers Association and by that Association
RECOMMENDED TO OUR AMERICAN FRIENDS as one that
if enacted into law, would prove highly profitable to the bank-
ing fraternity throughout the world.
Mr. Sherman declares that there has never been such an
opportunity for capitalists to accumulate money, as that pre-
sented by this act, and that the old plan of State Banks is so
unpopular, that the new scheme will, by contrast, be most fa-
vorably regarded, notwithstanding the fact that it gives the
National Banks an almost absolute control of the National
finance. 'THE FEW WHO CAN UNDERSTAND THE SYS-
TEM,' HE SAYS, 'WILL EITHER BE SO INTERESTED IN
ITS PROFITS, OR SO DEPENDENT OF ITS FAVORS THAT
THERE WILL BE NO OPPOSITION FROM THAT CLASS,
WHILE ON THE OTHER HAND, THE GREAT BODY OF
PEOPLE, MENTALLY INCAPABLE OF COMPREHEND-
ING THE TREMENDOUS ADVANTAGES THAT CAPITAL
DERIVES FROM THE SYSTEM, WILL BEAR ITS BUR-
52 LINCOLN MONEY MARTYRED
DENS WITHOUT COMPLAINT AND PERHAPS WITHOUT
EVEN SUSPECTING THAT THE SYSTEM IS INIMICAL
TO THEIR INTERESTS.'
Please advise fully as to this matter and also state whether
or not you will be of assistance to us, if we conclude to estab-
lish a National Bank in the City of New York. If you are
acquainted with Mr. Sherman (he appears to have introduced
the Banking Act) we will be glad to know something of him.
If we avail ourselves of the information he furnished, we will,
of course, make DUE COMPENSATION."
"Awaiting your reply, we are
"Your respectful servants,
"New York City, July 6, 1863.
"Messrs. Rothschild Brothers
"Dear Sirs: We beg to acknowledge the receipt of your
letter of June 25th, in which you refer to a communication re-
ceived from the Hon. John Sherman of Ohio, with reference to
the advantages and profits of an American investment under
the provisions of our National Banking Act.
"The fact that Mr. Sherman speaks well of such an invest-
ment or of any similar one, is certainly not without weight, for
that gentleman possesses in a marked degree, the distinguish-
ing characteristics of the successful financier. His temperament
is such that whatever his feelings may be they never cause him
to lose sight of the MAIN CHANCE. He is young, shrewd, and
ambitious. He has fixed his eyes upon the Presidency of the
United States and is already a member of Congress. He right-
fully thinks he has everything to gain both politically and
financially (he has financial ambitions, too) by being friendly
with men and institutions having large financial resources, and
which at times, are not too particular in their METHODS,
either of obtaining government aid, or of protecting themselves
against unfriendly legislation. We trust him here implicitly.
His intellect and ambition combine to make him exceedingly
valuable to us, indeed, we predict that if his life is spared, he
will prove to be the best friend the moneyed interests of the
world have ever had in America.
"As to the organization of a National Bank here, and the
nature and profits of such an investment, we beg leave to refer
to our printed circular enclosed herein. Inquiries by European
Capitalists, concerning this matter, have been so numerous,
that for convenience, we have had our views with regard to it
put into printed form.
LINCOLN MONEY MARTYRED 53
"Should you determine to organize a bank in the City, we
shall be glad to aid you. "VVe can easily find financial friends to
make satisfactory directory, and to fill official positions not
taken up by the personal representatives you will send over.
"Your most obedient servants,
"IKLEHEIMER, MORTON, AND
This latter letter, in the paragraph next to the last, mentions
a circular enclosed, and which circular is inserted here.
"IKLEHEIMER, MORTON, AND VANDERGOULD
"Private Bankers, Brokers, Financial Agents, etc.
"3 Wall Street, New York City
"We have had so many inquiries of late as to the method of
organizing national banks under the recent act of Congress,
and as to the profits that may reasonably be expected from
such an investment, that we have thought it best to issue this
brief circular as an answer to all questions of our friends and
"1 — Any number of persons, not less than five, may organize
a national banking corporation.
"2 — Except in cities having 6,000 inhabitants or less, a na-
tional bank can not have less than $1,000,000 capital.
"3 — They are private corporations organized for private
gain, and select their own officers and employees.
"4 — They are not subject to the control of the state laws,
except as congress may from time to time provide.
"5 — They can receive deposits and loan the same for their
"6 — They can buy and sell bonds, and discount paper and
do a general banking business.
"7 — To start a national bank on the scale of $1,000,000 will
require the purchase of that amount (par value) of
U. S. Government bonds.
"8 — U. S. Government bonds can now be purchased at 50 per
cent discount, so that a bank of $1,000,000 capital can
be started at this time with only $500,000.
"9 — These bonds must be deposited with the U. S. Treasury
at Washington as security for the national Bank cur-
rency, that on the making of the deposit will be fur-
nished by the government to the bank.
"10 — The U. S. Government will pay 6% interest on the bonds,
in gold, the interest being paid semi-annually. It will be
seen that at the present price bonds, the interest paid by
the government itself, will of itself amount to 12 per cent
in gold, on all the money invested.
"11 — The U. S. Government, under the provisions of the
national banking act, on having the bonds aforesaid
54 LINCOLN MONEY MARTYRED
deposited with its treasurer, will on the strength of such
security, furnish national currency to the bank deposit-
ing the bonds, at an annual interest of only ONE per
cent per annum. Thus the deposit of $1,000,000 will se-
cure the issue of $900,000 in currency.
"12 — This currency is printed by the U. S. Government in a
form so like greenback money, that many people do not
detect the difference, although the currency is but a
promise of the bank to pay — that is, it is the bank's de-
mand note, and must be signed by the Bank's president
before it can be used.
"13 — The demand for money is so great that this currency
can be readily loaned to the people across the counter
of the bank at a discount at the rate of 10 per cent at
30 days' to 60 days' time, making it about 12 per cent
interest on the currency.
"14 — The interest on the bonds, plus the interest on the cur-
rency which the bonds secure, plus incidentals of the
business ought to make the gross earnings of the bank
amount to from 28 to 331/3 per cent. The amount of the
dividends that may be declared will depend largely
upon the salaries of the officers that the banks vote
themselves, and the character and rental charges of the
premises occupied by the bank as a place of business.
In case it is thought best that the showing of profits
should not appear too large, the now common plan of
having the directors buy the bank buildings and then
raising the rent and salary of the president and cashier
may be adopted.
"15 — National banks are privileged to either increase or con-
tract their circulation at will, and, of course, can grant
or withhold loans as they may see fit. As the banks have
a national organization, and can easily act together in
withholding loans or extending them, it follows that they
can by united action in refusing to make loans, cause a
stringency in the money market and in a single week or
even in a single day cause a decline in all the products
of the country. The tremendous possibilities of specula-
tion involved in this control of the money of a country
like the United States will be at once understood by all
"16 — National banks pay no taxes on their bonds, nor on their
capital, nor on their deposits. This exemption from tax-
ation is based on the theory that the capital of these
banks is invested in U. S. securities, and is a remarkable
permission of the law.
"17 — The secretary may deposit the public money with any
bank at will, and to any amount. In the suit of Mr.
Branch against the United States, reported in the 12th
LINCOLN MONEY MARTYRED 55
volume of the U. S. Court of Claims, Reports on Page
287, it was decided that such 'Government deposits are
rightfully mingled with other funds of the bank, and
are loaned or otherwise employed in the ordinary busi-
ness of the bank, and the bank becomes the debtor of
the United States as it does to other depositors.'
"Requesting that you will regard this as strictly confiden-
tial, and soliciting any favors in our line that you may have to
extend, we are,
"Most respectfully yours,
"IKLESHIEMER, MORTON, & VANDERGOULD."
The reader may draw his own conclusions as to how much
aid the selfish bankers had from their political allies in the
And the letters seem to show plainly where the scheme was
"hatched" and RECOMMENDED to our Congress. Later in the
story the reader will see where another agent of the foreign
money changers was in on RECOMMENDING another wonderful
scheme from England and the House of Rothschild.
The National Banks Established
The new law to be called the "National Bank Act" was to
work like this : The money lenders would buy government bonds
for gold (which they had, and had hoarded it, creating a short-
age of it in the same old way) and would then deposit the bonds
with the Federal Treasury as security for nice, new, crisp paper
money to be issued by the Government at the cost of printing to
the amount of 90% of the amount deposited, and this money was
to be guaranteed redemption by the Government in gold and
silver, and the money changers were not only to get this nice,
new, crisp money, but were also to draw certain interest on the
bonds. The reader should refer back now, to the Charter of the
Bank of England and see how much the money changers had
learned in that 168 years. Evidently these boys were showing
their great grandfathers up in great shape and making them
look like "pikers."
It is found, of course, that in the Bank of England charter
the money changers were allowed to print their own money and
were also to redeem it themselves, but here in our country, the
Government was to guarantee its redemption. It must be ad-
mitted they were learning something about the "business" or
"racket," whatever the reader prefers to call it, and then again,
maybe our young, struggling, hard pressed nation was easier to
56 LINCOLN MONEY MARTYRED
deal with and needed the money worse to save its very life, than
did England, with its enemy France across the channel and boats
When the bill came up for passage in Congress all the old
arguments of Jefferson, Jackson, and others, that had been used
against the two previous acts, chartering the First, and Second,
Banks of the United States, were used and many heated argu-
ments and debates took place to no avail, as the vicious Act was
finally passed and became a law, passing the Senate however, by
only two votes.
The Secretary of Treasury, Salmon P. Chase, said when he
saw the great error he had committed in urging the passage of
the bill :
"My greatest financial mistake of my life. It has built up
a monopoly that affects every interest in the country. It should
be repealed, but before this can be accomplished, the people
shall be arrayed on one side and the banks on another in a
contest such as we have never seen before in this country."
Chase's propliecy was to prove only too true. However, out
of recognition of him or his heirs one of the largest banks of
America, made possible under this law, was named for him :
"The Chase National Bank of New York."
This Act was sponsored in the Senate by Senator John Sher-
man, and in the House by Congressman Samuel Hooper. It might
be interesting for some one to look into the financial rating of
those able statesmen and what they left when they passed on to
where all good legislators go.
It was a dastardly thing to do — to saddle such an iniquitous
inhuman system onto a nation, and especially when it was right
in the midst of a war for its very existence. But, of course, such
a thing could have been done only under such circumstances in
those days, for honor in statesmanship really meant a great deal,
and not so many of our people and especially our legislators, had
become so badly infected by the devastating bite of the "gold
bug," and were still able to put honor above wealth.
However, Lincoln took the gold of the money changers and
with it fought the bloody war to a victory for the Nation, and of
course, in doing so, as a war measure he wiped the curse of human
chattel slavery from our list of accepted institutions, having
WITHOUT DOUBT, in the back of his mind, that once the war
was out of the way, he would be better able to once more turn
his attention to the money question and the money changers, as
later events in this story will make clear.
Does anyone, any sane person, think for a minute that an
honest man, a righteous man, with a love of country as Lincoln
had, would stand for such knavery being put over on his beloved
country, and not do something about it, just as soon as he could
reasonably do so?
LINCOLN MONEY MABTYRED 57
Not in a thousand years ! Lincoln was not made of that kind
of stuff! He was beaten for a time, but he did know that if the
Union was to be saved (and that was his greatest worry) that
the Government must have plenty of money to carry on the
frightful war, to its quickest possible conclusion, as every day it
lasted, it added its toll of human life and misery, which grieved
Lincoln mightily, as can be seen by many of his speeches and
No one had grieved over the dreadful sacrifice of life and
suffering more than he, and he wished the war to last as short a
time as possible. There is possibl}^ no other index that can better
show the deep and sympathetic grief and compassion for the suf-
fering and the great, just, and far-reaching breadth of Lincoln's
mind and character, and his undying love for his people, his
country, and humanit}' at large than his Gettysburg Address,
and his letter to a "Little Gray Mother'' who had lost five sons
in the terrible war, which are as follows :
LINCOLN'S GETTYSBURG ADDRESS
November 19, 1863
"Four score and seven years ago our fathers brought forth
on this continent, a new nation, conceived in Liberty, and
dedicated to the proposition that all men are created equal.
"Now we are engaged in a great civil war, testing whether
that nation or any nation, so conceived and so dedicated, can
long endure. "We are met on a great battlefield of that war.
We have come to dedicate a portion of that field, as a final
resting place for those who here gave their lives that that
nation might live. It is altogether fitting and proper that we
should do this.
"But, in a larger sense, we cannot dedicate — we cannot
consecrate — we cannot hallow — this ground. The brave men,
living and dead, who struggled here, have consecrated it far
above our poor power to add or detract. The world will little
note nor long remember what we say here, but it can never
forget what they did here. It is for the living rather to be
dedicated here to the unfinished work which they who fought
here have thus far so nobly advanced. It is rather for us to be
here dedicated to the great task remaining before us — that
from these honored dead, we have increased devotion to that
cause for which they gave the last full measure of devotion —
that we here highly resolve that these dead shall not have died
in vain — that this nation, under God, shall have a new birth
of freedom — and that government of the people, by the people,
and for the people, shall not vanish from the earth."
58 LINCOLN MONEY MARTYRED
LINCOLN'S LETTER TO MRS. BIXBY
(A mother who lost five sons in the war.)
"Mrs. Bixby, Boston, Mass.
"Dear Madam: I have been shown in the files of the War
Department a statement of the Adjutant-General of Massa-
chusetts that you are the mother of five sons who died glorious-
ly on the field of battle. I feel how weak and fruitless must be
any words of mine which should attempt to beguile you from
the grief of a loss so overwhelming. But I cannot refrain from
tendering you the consolation that may be found in the thanks
of the Republic they died to save. I pray that our Heavenly
Father may assuage the anguish of your bereavement, and
leave you only the cherished memory of the loved and lost,
and the solemn pride that must be yours to have laid so costly
a sacrifice upon the altar of freedom.
"Yours very sincerely and respectfully,
The Civil War Ends
At last the war was ended, with a sore and bleeding nation,
the North jubilant in its glory, but hardly a hearthstone that did
not have its share of grief and sorrow for its dead or maimed
soldier, brother or father. The South, crushed to remain so for
many years, for a lost cause, but one in which they believed to
the very bottom of their hearts was a just one, but thanks to God,
they were later to realize they really won their greatest victory
when they lost the war, and were saved to remain a part of the
future Greatest Nation the World has ever known.
But, thanks to the Money Barons, the government had been
saddled with a bonded debt of billions of dollars, to be met with
taxes for generations to come, instead of the government having
been allowed to continue issuing its full legal tender greenbacks
which Lincoln lauded as "America's greatest blessing," her own
paper money to pay her own debts.
The suggestions of the English Money Changers in the Hazard
Circular had been carried out to the letter, and from that time
onward, the activity of these money changers and their hench-
men in our Congress, were to be consistently and increasingly
cunning, crafty, diabolical, and inhuman, in the different and
varied laws they were to have passed; binding our people in an
economic slavery that was to grow worse from generation to
generation, to finally culminate in the great crash of 1929, fol-
lowed by the most devastating depression the country has ever
LINCOLN MONEY MARTYRED 59
THE MONEY CHANGERS START ACTION AGAIN
THE CONTRACTION ACT : Authorizing the Secretary of the
Treasury to issue 5% twenty (20) year bonds and with the
proceeds RETIRE U. S. currency including greenbacks, and
cremate, or burn them up, which caused a regular and systematic
contraction of the currency in circulation ; a law passed by
Congress April 12, 1866.
These enemies of mankind who wished to get control of all
the money of the world were consistently busy, figuring out new
schemes, and polishing up their old ones, that they had used
since OLD TESTAMENT days. They had done all in their power
to discredit, ridicule, and discount the greenback of Lincoln's
time (the Exception Clause greenbacks) and had gotten them
down in price, varying from 25 to 75 cents on the dollar. Why?
Suppose you study the text of the "National Bank Act" of 1863
and see if it doesn't permit the bankers to use greenbacks to buy
the government bonds to use to deposit, to get their own money
issued. Remember the Rothschild Brothers' letter said that U. S.
Bonds could be had at 50 cents on the dollar.
Would it pay the money changers to ridicule, discount, and
force the exchange value of the greenback down to 35 or 50 per
cent of its face value and then buy them in at that discount, and
then use them at FACE VALUE to buy government bonds, on
which they were able to issue greenbacks of their own? Well,
dear reader, jou figure it out and see what you get.
Again, would it help the money changers to get a law passed
forcing the government to destroy the greenbacks, after they —
the money changers — had exchanged them to the government for
bonds ; would that make just so much less money in circulation,
and make a better demand for the paper money the bankers were
allowed to issue ? Figure that one out also, and see what you get.
The following excerpt from "Seven Financial Conspiracies"
by Mrs. S. E. V. Emery, printed in 1879, will give the reader a
true and graphic record of the action and results of this, one of
the most cruel and traitorous Acts ever enacted by Congress :
"December 4, 1866, E. G. Spaulding, a Buffalo, N. Y.,
banker, a member of Congress, wrote to Secretary of the
Treasury McCullough as follows :
" 'You, no doubt now, to a certain extent, HAVE CON-
TROL OF THE CURRENCY OF THE COUNTRY, and I think,
that you will of necessity CONTRACT MODERATELY, so as
to preserve a tolerable easy money market. There may be occa-
sional spasms of tightness for money, but general!}^, I shall look
for plenty of money for at least one year to come.'
"When this letter was written the country was in posses-
sion of $1,906,687,770.00 currency. During this year (1866)
60 LINCOLN MONEY MARTYRED
there were but 520 business failures in the whole country, in-
volving a loss of but $17,625,000. Labor was well paid and
"1867 — This year the work of contraction was vigorously
puslied and there were 2,386 failures, with a total loss of $86,-
"1868— During this year $473,000,000 of money was de-
stroyed and failures increased to 2,608, with a loss to creditors
of $63,774,000. Money began to be tight and financial spasms
' ' 1869 — During this year over $500,000,000 of money passed
into the cremation furnace, producing 2,799 failures and a loss
of $75,054,900. Money growing tighter and wages lower.
"1870— This year $67,000,000 of money was destroyed, and
3,551 failures took place, involving a loss of $88,242,000. Money
very scarce and wages of labor were reduced all over the
"1871 — $35,000,000 of money this year was retired, with
2,915 failures, and a loss of $85,250,000. More men out of work
and wages cut down.
"1872— Only about $12,000,000 was destroyed this year,
but such had been the strain upon the business of the country
for the past five years that this proved the last straw to 4,069
business firms, involving a loss of $121,058,000. More cutting
of wages and strikes talked of.
"1873 — This year the storm reached its climax. Business
men had hoped that with every returning season prospects
would brighten and money would become plentiful. Instead of
this, however, notwithstanding, but $1,609,000 was destroyed;
the people became panic stricken, and 5,183 business firms were
precipitated into bankruptcy, with a loss of $228,499,000.00.
500,000 men were thrown out of employment, wages cut down
all over the country and strikes were frequent occurrences.
"1874 — Notwithstanding the terrible results of the past
year, the winepress of contraction still creaks on its hinges of
death, as round and round it sweeps out of circulation $75,-
484,000. Certificates of indebtedness which have been made
legal tender money, $85,760,000 Treasury notes, $6,335,045
legal tender, $3,000,000 Fractional Currency, and $1,000,000
Bank notes, producing 5,832 failures, and a loss of $155,239,000
to creditors. A million idle men began to tramp in search of
work. Wages still declined and strikes were numerous.
"1875 — The volume of currency this year was contracted
$40,817,418 and the failures reached 7,740 with a loss to cred-
itors of $201,060,000. Two million laborers out of work. Famine
and hunger began to stare them in the face, and tramping be-
comes a profession.
LINCOLN MONEY MARTYRED 61
"1876 — According to the most reliable estimates, the con-
traction of the currency this year in the destruction of green-
backs and "withdrawal of bank currency amounts to about
$85,000,000 with 9,092 failures and— $191,000,000 loss during
the first quarter of the year. The aggregate failures of the year
reached over 10,000 with losses not less than $300,000,000. This
does not include losses to stockholders by foreclosure and sale
"What a record for ten years! Who wonders times were
hard and men idle?
' ' Still with all this array of wreck and ruin, with the finger-
board of contraction at the close of each year pointing to the
cause, the people were asleep, or on their knees praying for
some interposition of providence in their behalf, while John
Sherman went marching on with the torch of death, to burn
the remaining $300,000,000 of the people's money.
"Three million men are out of employment, bankruptcy
multiplying with great rapidity. The tramp nuisance culmi-
nates. Wages are cut down to starvation prices. Strikes, riots,
and general consternation seize the people, and the circulation
is cut down to $606,000,000.
"1877 — The red torch of the vandal lighted up the country
from Pittsburgh to Chicago. These are the footprints of the
red-mouthed despots, the money power, which is still forging
chains for the limbs of American industry, with a view to en-
slaving the American populace by robbing them of their homes
and firesides, and then controlling their life, liberty, and pur-
suit of happiness by controlling their wages through the con-
trol and monopoly of money.
"1878 — The volume of currency shrank to $11.23 per capita
and this year the number of failures reached 10,478 ; amount of
liabilities $234,383,132. But this year gave us remonetization of
silver in the Bland Bill, two to four millions a month of silver
dollars to put in circulation which began to flow out at the
close of the year.
"1879 — Was the year of specie resumption; per capita,
$12.65. The increased silver brought us the boom of 1879, fail-
ures dropped down to 6,658; liabilities $98,000,000.
"1880 — The boom was walking on. Increase of currency
through silver is doing its work, the failures have shrunk to
4,735; liabilities only $65,000,000. But the latter part of this
year there was an attempt to frighten Congress by the bankers,
known as the bankers' rebellion of 1880, and they contracted
their loans very heavily and when money is scarce the con-
traction of credits is equivalent to a contraction of volume of
currency and the consequence was that the volume ran down
to $10.23 per capita.
62 LINCOLN MONEY MARTYRED
"1881— Failures increased to 5,582, liabilities at $81,000,-
000. But confidence was in full blast and business was booming
on confidence, immigration was increasing and consequently
the volume of currency was shrinking but credits were more
than taking its place.
"1882 — The volume had increased a little, per capita to
$11.97 ; but the strain for money was great and failures in-
creased to 6,738 ; liabilities $101,000,000.
"1883 — The volume per capita was $11.48. Credit is so
largely in excess of cash that the strain is increasing, failures
were 9,184; liabilities, $173,000,000.
"1884 — The volume of money per capita this year is given
as $10.17. Failures, 10,910; liabilities, $226,000,000, and the
country is piling up credit preparatory to a tremendous smash.
"1885— Volume of money per capita $8.90. Failures 11,212,
liabilities $267,340,264. The papers are declaring there is lots
of money, but business is mainly done on expanded credit.
"1886— Volume of money per capita $7.64. Failures 12,292;
liabilities $229,288,238. Business is lagging, credits are not be-
ing pushed and failures are falling off a little.
"1887— Volume per capita $6.67. Failures, 12,042; liabilities
$835,121,888. Credits still growing.
"1888 — Little change in the volume of money. Credits that
have taken place of money are being urged. Failures, 13,348 ;
"1889 — No change in volume; tendency to push credits.
Failures, 13,277; liabilities, $312,496,742. A tendency to still
"1890 — The last j^ear looked dangerous, credits are enor-
mous, but the time is not yet ripe to pluck the goose, but some-
thing must be done.
"John Sherman comes forward with the fourth act of his
silver demonetizing scheme, known as the ' Sherman Bill. ' This
repealed the 'Bland Bill' and gave to the country a forced pur-
chase of four and a half million ounces of silver per month
and the putting in circulation of silver certificates to that
amount. That increased the currency two and a half million
dollars per month over the best the secretary would do with
the 'Bland Bill.' This increase of currency stimulated trade,
strengthened credits and business boomed, more on credits than
on cash by many times, yet the increase of cash had a good
effect and brought the failures down to 10,672 ; liabilities,
' ' 1891 — The volume of credit is expanding beyond the limit
of reason and cash is in great demand. As a business man I find
I can discount bills and buy goods at almost my own figures
for cash. But I found myself warning everybody to stand from
LINCOLN MONEY MARTYRED 63
under, that bubble is about to burst. Increased business, from
the stimulant of a little more money and failures increased to
12,394; liabilities, $193,178,000.
"1892 — There is as yet no material change except that
everything looks shaky, like a great balloon inflated and ready
to soar or collapse. Many business houses are shaky. There are
signs that the business people are trying to hedge, preparing
for the storm, failures, 10,270; liabilities, $108,595,248.
"But the blow is yet to come.
"Ricardo, an eminent writer on political economy said:
'That commodities rise in price in proportion to the increase
or diminuation of money. I hold that to be a fact that is in-
"John Stuart Mill, another authority, said: 'If the whole
volume of money in circulation were doubled prices would
"The Money Commission, created August 15th, 1876, con-
sisting of three United States Senators, three members of the
House, and three Secretaries, made a report March 2, 1877, in
which appear these words : ' That the disaster of the Dark Ages
was caused by decreasing money and falling prices, and that
the recovery therefrom and the prosperity, which followed the
discovery of America, were due to an increasing supply of the
precious metal and rising prices will not seem surprising and
unreasonable when the noble functions of money are consid-
" 'Money is the great instrument of association, the very
fibre of social organism, the vitalizing force of industry, the
protoplasm of civilization and as essential to the existence as
is oxygen to animal life.
" 'Without money civilization could not have had a begin-
ning, and with a diminishing supply it must languish and un-
less relieved finally perish.
" 'Falling prices and misery and destitution are insepar-
able companions. It is universally conceded that falling prices
result from the contraction of the money volume.' (U. S. Mone-
tary Commission, Vol. 1, page 50.) And again on page 51:
" 'The highest moral, intellectual and material development
of nations is promoted b.y the use of money, UNCHANGING
IN ITS VALUE.'
"Here we have the conclusion of nine prominent statesmen,
who, after an exhaustive examination emphatically declare that
the 'true and only cause' of the calamities that had befallen
the people was the 'shrinkage of the volume of money.'
"To whom shall we charge these calamities that have come
upon us like a flood? Is it the extravagance of the people. Is
it because too many of the necessaries of life have been pro-
duced? Because the farmer has been too industrious and pru-
64 LINCOLN MONEY MARTYRED
dent, or the manufacturers employed too many laborers in the
production of his commodities? Is it because millions of chil-
dren are employed in the mines and factories of the country,
barred every blessing and privilege of childhood? Is it because
the saloon is sucking away the substance of thousands of fami-
lies, and bringing desolation into their homes? Is it because
women are selling their souls to keep their bodies from starv-
ing, or because a band of train robbers are infesting the coun-
try and sending terror into hearts of the people?
"No, it is none of these circumstances that have brought
such disaster to our country, but it is our selfishness and crimi-
nal legislation that has overwhelmed us with these alarming
conditions ! ' '
The following table taken from the "Chicago Inter-Ocean of
Chicago," a leading Republican paper of Illinois of that time,
will show very graphically the extent of the contraction of the
currency during those awful years of manipulation of the Na-
tion's money by the traitorous acts of the legislators paid to pro-
tect the people but instead sold out to the money changers:
Year Currency Population Capita
1865 $1,651,282,373 34,819,581 $47.42
1866 1,803,702,726 35,537,148 50.76
1867 1,330,414,677 36,269,502 36.68
1868 817,199,773 37,016,949 22.08
1869 750,025,989 37,779,800 19.85
1870 740,039,179 38,588,371 19.19
1871 734,244,774 39,750,073 18.47
1872 736,340,912 40,978,607 17.97
1873 733,291,749 42,245,110 17.48
1874 779,031,589 43,550,576 17.89
1875 778,176,250 44,896,705 17.33
1876 735,358,832 46,234,344 15.89
1877 696,443,394 47,714,829 14.60
The Credit Strengthening Act
Then, again the money changers came to the rescue (?) of
the Nation and another law was passed on March 18, 1869, called
the Credit Strengthening Act, but just whose credit it strength-
ened Ave shall soon see. This bill made the Bonds that the money
changers had been able to buy up with depreciated currency,
payable in gold, at face value ! Now whose credit was strength-
ened? The Government that exchanged the Bonds at face value
for depreciated currency, which was burned up, and then forced
to redeem the Bonds in gold ; or the money changers who had
traded depreciated greenbacks at face value for the bonds and
then were able to get full value in GOLD for the Bonds? Figure
that one out also.
LINCOLN MONEY MARTYRED 65
July 14, 1870 an Act was passed pretending to be one "Re-
funding the National Debt." A scheme postponing the payment
of the National Debt regardless of the fact that the United States
Treasury had on hand one-half the needed amount to pay it off.
This continued the usurious bonded load on the people.
Can the reader imagine anything more rank and vile and
crooked to have put over on a nation that trusted in the integrity
of the citizen legislators paid by the people to aid and protect
them, but who instead, it would seem, sold out the nation to
the foreign money changers ?
That sort of carrion surely deserve all that is coming to them
both here and hereafter, and one of these tine days there is a
bare possibility that the American people are going to be awak-
ened to the rotten crookedness that goes on "behind the scenes"
in the halls of Congress, and make a real housecleaning, and
when they do there will be much "weeping and wailing and
gnashing of teeth!" And how!
The Gold Standard Established and Silver
Coinage Killed— or— "The Crime of 73"
Next came the diabolical Act, known as the "Crime of '73,"
which was called an "Act Revising and Amending the Laws
Relative to the Mints, Assay Offices, and the Coinage of the
United States." It passed the House May 27, 1872, and the
Senate January 17, 1873.
This Act, as well as the National Bank Act of 1863, was
sponsored in the Senate by John Sherman, and in the House by
Samuel Hooper. Practically every monetary measure of mention
from 1860 to 1890 and especially if it was to get more privileges
for the bankers, was sponsored by this same Senator John Sher-
man. It might be interesting and worth while for someone to look
into the financial standing of these two gentlemen down through
the years and see how they fared as friends of the money chang-
ers while being paid to serve and protect the people while in
There are volumes of evidence to prove that this was one of
the most vicious of the many money laws that have been slipped
over on our Nation, by slippery money changers, and Congress-
men, to enslave us to the foreign money changers of England
The subject is treated exhaustively and most interestingly in
the form of a novel, in a volume called ' ' A Tale of Two Nations, ' '
by W. H. Harvey of Monte Ne, Arkansas, who was one of the
staunch supporters of W. J. Bryan in 1896.
66 LINCOLN MONEY MARTYRED
The ruling- class and "big business" of England urged on
and backed up by the money changers of the Bank of England
who had never forgiven nor become reconciled to America's
freedom after the struggle of 1776 and 1812, and who had done
all in their power, short of actual military help to the Southern
Confederacy, now perceived their chance to control our money
system and thereby control our country just as effectively as
owning it and with no responsibility, as the Hazard Circular had
said about Chattel Slaves.
The money changers had already been able to demonetize
silver in England, Holland, and Germany, and thereby cut their
volume of currenc}^ in half or more, and made all debts payable
in gold, and they (the money changers) of course, owned the
gold, and they decided to do likewise to America. So they sent
an agent, Ernest Seyd, over here with $500,000.00 to do the trick,
which was accomplished with the help and connivance of a few
members of our National Congress and possibly a very few other
That the reader may see for himself the truth of the above
statement, we will quote from the speech of Senator Daniel of
Virginia, May 22, 1890, in Congress, and to be found in the Con-
gressional Record, page 5128, of that date. He said :
"I take from the Bankers Magazine of August, 1873, a
little extract. It says, 'In 1872 silver being demonetized in
Germany, England, and Holland, a capital of 100,000 pounds
($500,000.00) was raised and Ernest Seyd was sent to this
countr}^ Mdth this fund as agent for foreign bond holders to
effect the same object (demonetization of silver)'."
With special permission from the author, Mr. Andrae B
Nordskog, we quote from his book, "Spiking the Gold," another
document of immense importance, which would seem to be full
and adequate proof of the foregoing matter.
' ' One of the most astounding documents ever to be recorded
in connection with this legislation of 1873 is the affidavit made
by Mr. Frederick A. Luckenbach and acknowledged before
Mr. James A. Miller, Clerk of the Supreme Court of the State
of Colorado. This astounding affidavit follows:
" 'State of Colorado
" 'County of Arapahoe
" 'Frederick A. Luckenbach, being first duly sworn on
oath, deposes and says : I am 62 years of age. I was born in
Bucks County, Pennsylvania. I removed to the city of Philadel-
phia in the year of 1864, and continued to reside there until
1866, when I removed to the city of New York. In Philadelphia
I was in the furniture business. In New York I branched into
machinery and inventions, and am the patentee of Lucken-
bach 's new pulverizer, which machines are now in use general-
ly in the eastern part of the United States and Europe. I now
LINCOLN MONEY MARTYRED 67
reside in Denver, having removed from New York two years
ago. I am well known in New York. I have been a member of
the Produce Exchange and am well acquainted with members
or that body. I am well known by Mr. Erastus Wyman.
" 'In 1865, I visited London, England, for the purpose of
placing there Pennsylvania oil properties, in which I was inter-
ested. I took with me letters of introduction to many gentle-
men in London, among them one to Mr. Ernest Seyd from
Robert M. Foust, ex-treasurer of Philadelphia. I became well
acquainted with Mr. Ernest Seyd, and with his brother, Rich-
ard Seyd, who, I understand is still living. I visited London
thereafter, every year, and at each visit renewed my acquaint-
ance with Mr. Seyd, and upon each occasion became his guest
at one or more times — joining his family at dinner or other
" 'In February, 1874, while on one of these visits, and
while his guest for dinner, I, among other things, alluded to
rumors of parliamentary corruption, and expressed astonish-
ment that such corruption existed. In reply to this, he told me
that he could relate facts about corruption of the American
Congress that would place it far ahead of the English Parlia-
ment in that line. So far, the conversation was at the dinner
table between us. His brother, Richard, and others were there
also, but this was table talk between Mr. Ernest Seyd and
myself. After dinner ended, he invited me into another room,
where he resumed the conversation about legislative corrup-
tion. He said, "If you will pledge me your honor as a gentle-
man not to divulge what I am about to tell you while I live, I
will convince you that what I said about American Congress is
true." I gave him the promise and then he continued: "I went
to America in the winter of 1872-3, authorized to secure, if I
could, the passage of a bill demonetizing silver. It was in the
interest of those I represented— the GOVERNORS OF THE
BANK OF ENGLAND— to have it done. I took with me
100,000 pounds sterling ($500,000.00 United States money)
with instructions that if it was not sufficient to accomplish the
object to draw for another 100,000 pounds or as much more as
was necessary." He told me that the German bankers were
also interested in having it accomplished. He said: "I saw the
committees of the House and Senate and paid the money and
stayed in America until I knew the measure was safe." I asked
if he would give me the names of the members to whom he
paid the money — but this he declined to do. "Your people will
not now comprehend the far reaching extent of that measure,
but they will in after years. Whatever you may think of the
corruption in the English Parliament, I assure you, I would
not have dared make such an attempt here as I did in your
country." I expressed my shame to him, for my countrymen
68 LINCOLN MONEY MARTYRED
in our legislative bodies. The conversation drifted into other
subjects and after that — though I met him many times — the
matter was never again referred to.
"'(Signed) Frederick A. Luckenbach.
" 'Subscribed and sworn to before me at Denver, this ninth
day of May, A. D. 1892.
" '(Signed) James A. Miller
" '(Seal) Clerk Supreme Court,
" 'State of Colorado.' "
The extent ajid serious consequences as pointed out b}^ Mr.
Luckenbach, of the "Crime of 73," while one of the most vicious
and wicked pieces of trickery ever "put over" on Congress and
by them, onto the people, was not to be realized for a consider-
able time by the majority of Congress, nor even by the Presi-
dent. This was so favorable to the money changers that with the
help of the banks, scattered throughout the country and with
the influence they could wield with their power of loans, they
have been able to keep Congress from repealing the law.
That Congressman Samuel Hooper had dealings with this
agent of the money changers, Ernest Seyd, is clearly shown by
his own speech when introducing the bill in Congress April 9,
1872. What he said may be found in the Congressional Globe of
that date ; and in part is as follows :
"Mr. Ernest Seyd, of London, a distinguished writer, who
has given great attention to the subject of mints and coinage,
after examining the first draft of the bill, furnished many
valuable suggestions which have been incorporated in this
Does that look conclusive — or — does it not?
Of course, when the scheme was made clear to the American
bankers that the law would destroy the free coinage of silver,
and make it just that much easier, and advantageous for them
to loan their National Bank Notes, the paper money that cost
them only fifty cents for a hundred dollars, they naturally were
for such a law and did all in their power to uphold it.
But in order that the reader may see for himself what the
Senators and Congressmen had to say about the bill being passed
fraudulently, and how Samuel Hooper plainly and intentionally
misled his brother legislators when the bill was under discussion,
and also what the Congressmen of after years have said about
the bill, we will quote them from the Congressional Record,
reproduced in "Spiking the Gold" by Mr. Andrae B. Nordskog:
"The Congressional Record of the 45th Congress, second
session, volume 7, part 2, page 1605, records the statement of
Judge Kelly of Pennsylvania, who said in part:
" 'I was ignorant of the fact that it (the revision of the
Coinage Act of 1873) would demonetize the silver dollar or of
its dropping the silver from our system of coins as were those
LINCOLN MONEY MARTYRED 69
distinguished Senators, Messrs. Blaine and Voorhees, who were
then members of the House, and each of whom, a few days
since, interrogated the other : ' ' Did you know it was dropped
when the bill was passed?" "No," said Mr. Blaine, "Did you?"
"No," said Mr. Voorhees. "And I do not think there were
three members in the House that knew it ! " '
"The Congressional Record, Volume 7, part 1, page 260,
45th Congress reveals that Senator Beck of Kentucky said re-
garding this bill: 'It (the bill demonetizing silver) never was
understood by either House of Congress. I say that with full
knowledge of the facts. No newspaper reporter — and they are
the most vigilant men I ever saw in obtaining information —
discovered that it had been done.' "
In the Congressional Record of the 44th Congress, first ses-
sion, volume 4, part 6, Appendix, page 197, Joseph Cannon said :
"This legislation was had in the forty-second Congress,
February 12, 1873, by a bill to regulate the mints of the United
States, and practically abolish silver as money by failing to
provide for the coinage of the silver dollar. It was not dis-
cussed, as shown by the Record, and neither members of Con-
gress nor the people understood the scope of the legislation."
"And so even old Uncle Joe certifies to this generation that
the demonetizing of silver was accomplished because our Con-
gressmen and the people did not understand the nature of the bill.
In the Congressional Record, volume 4, part 6, 44th Congress,
first session. Appendix, page 193, Mr. Holman of Indiana, said:
"I have before me the record of the proceedings of this
House on the passage of that measure, which no man can read
without being convinced that the measure and the method of
its passage through this House was a 'colossal swindle.' I as-
sert that the measure never had the sanction of this House,
and it does not possess the moral force of law."
The Congressional Record, July 13, 1876, volume 4, part 5,
page 4560, reveals that Mr. Burchard of Illinois said :
"The Coinage Act of 1873 unaccompanied by any written
report upon the subject from any committee, and unknown to
the members of Congress who, without opposition allowed it to
pass under the belief, if not assurance, that it made no altera-
tion in the value of the current coins, or changed the unit of
value from silver to gold."
Senator Voorhees of Indiana, Congressional Record, January
15, 1876, page 332, declared:
"The silver dollar is peculiarly the laboring man's dollar
as far as he may desire specie * * * throughout all financial
panics that have assailed this country, no man has been bold
enough to raise his hand to strike it down ; no man has ever
dared to whisper of a contemplated assault upon it and when
the 12th day of February, 1873, approached the day of doom
70 LINCOLN MONEY MARTYRED
to the American dollar, the dollar of our fathers, how silent
was the work of the enemy. * * * Its enactment there was as
completely unknown to the people and indeed to four-fifths of
Congress itself as the presence of a burglar in a house at mid-
night to its sleeping inmates."
The Congressional Record, volume 7, part 1, second session,
45th Congress, page 584, reveals that Mr. Bright of Tennessee
"It (the bill demonetizing silver) passed by fraud in the
House, never having been printed in advance, being a substi-
tute for the printed bill; never having been read at the Clerk's
desk, the reading having been dispensed with by an impression
that the bill made no material alteration in the coinage laws ;
it was passed without discussion, being cut off by operation of
the previous question. It was passed, to my certain informa-
tion under such circumstances that the fraud escaped the at-
tention of the most watchful as well as the ablest statesmen
in Congress at the time. * * * Aye, sir, it was a fraud that
smells to heaven."
"On page 208 of the Congressional Record of December 14th,
1877, is found a reproduction of a letter to Representative Mr.
Coudray, from President Grant, dated October 13, 1873, eight
months after the President had signed the bill, in which the
President said in part:
' ' I wonder that silver is not already coming into the market
to supply the deficiency in the circulating medium. Experience
has proved that it takes about $40,000,000 of fractional cur-
rency to make the small change necessary for the transaction
of the business of the country. Silver will gradually take the
place of this currency, and further, will become the standard
of values. * * * Our mines are now producing almost unlimited
amounts of silver, and it is becoming a question, 'What shall
we do with it?' I here suggest a solution which will answer
for some years to put it into circulation, keeping it here until
it is fixed, and then we will find other markets."
"The Congressional Record of December 14, 1877, on page
206, shows the statement made by Senator Herford wherein he
"I now come to one of the most remarkable and to my
mind one of the most fraudulent pieces of legislation this or
any other country ever saw. I refer to the manner of the pass-
age of the bill demonetizing silver. I will not occupy the time
of the Senate by going over the whole history of this iniquitous
transaction. Mr. Hooper, since deceased, was at that time
chairman of the committee having charge of a bill which had
been referred to his committee, and on May 27, 1872, reported
a substitute and moved to suspend the rules and pass the sub-
stitute, upon which motion, among other things, the following
occurred which any Senator can find by turning to the Con-
gressional Globe, part 5, page 3883."
LINCOLN MONEY MARTYRED 71
"Senator Herford then submitted the debate which took place
between Mr. Hooper of Massachusetts and other Congressmen
at the time that Mr. Hooper succeeded in getting action on the
substitute bill (which had not even been printed and submitted
to members of the House) through suspension of the rules. Mr.
Hooper stated, when asked by other Congressmen whether or not
this substitution bill affected the re-coinage of small coins such
as the dollar, that:
"This bill makes no change in the existing law in that
regard. It does not require the re-coinage of small coins."
On this boldly fraudulent statement, 110 members voted in
favor of the bill and only 13 against it ; those opposing it doing
so mainly because they did not have the privilege of hearing the
original bill read alongside of the substitute which very trickily
eliminated the free mintage of silver as will be shown a little
"The smooth Englishman who was alleged to have spent
$500,000 bribing the American Congress in order to demonetize
silver, did his work yery effectively ; so eft'ectively that the wisest
at our National Capital did not detect the crime until the law
was put into operation.
"This law was "An Act Revising and Amending the
Laws Relative to the Mints, Assay Offices and Coinage of the
United States, and reads as follows:
"(a) That the gold coin of the United States shall be one
dollar a piece, which at the weight of twenty-five and eight-
tenths grains shall be the unit of value.
"(b) That the silver coins of the United States shall be a
trade dollar, a half dollar or fifty-cent piece, a quarter-dollar
or twenty-five-cent piece, a dime or ten-cent piece, and said
coins shall be a leg^l tender at their nominal value for any
amount not exceeding five dollars in any one payment.
"(c) That no coins, either of gold or silver, or minor coin-
age, shall hereafter be issued from the Mint, other than those
of the denominations, standards and weights herein set forth."
— (Statutes, 424) ("A," "B," and "C" designations by au-
"It will be noted upon re-reading the Act above quoted in
paragraph " c " that no coins, either of gold or silver should there-
after be issued from the Mint, other than those of the denomina-
tions, standards and weights herein set forth. And upon referring
to paragraph "a" you will note that the weight of the gold was
provided for ; but when you read paragraph " b " again, you will
notice that the weight of the silver is very carefully eliminated.
This was the crux of the demonetization scheme.
"On page 258 of the Congressional Record of January 11,
1879, we find Senator Beck of Kentucky saying:
72 LINCOLN MONEY MARTYRED
' ' I know that the bondholders and monopolists of this coun-
try are seeking to destroy all the industries of this people in
their greed to enhance the value of their gold. I know that the
act of 1873 did more than all else to accomplish that result,
and the demonetization act of the Revised Statutes was an
illegal and unconstitutional consummation of the fraud. I want
to restore that money to where it was before, and thus aid in
preventing the consummation of their designs."
The evidence is there from many reputable men, in govern-
ment records, the reader may form his own conclusions. The
shackles of Economic Serfdom grow stronger and stronger as
years pass by, more legislation is slipped through Congress by the
use of millions of hard earned money, filched from the hands of
the American laborers and farmers, under crooked and branded
unconstitutional laws, which were made for, and do operate for
the benefit of the foreign money changers and against the inter-
est of all American producers. Hardly a decade passes, but an-
other link is added to the golden chain that holds us in an eco-
One could hardly better describe "Civilization After 20 Cen-
turies of Christendom" than by this passage of Ferrero (Great-
ness and Decline of the Roman Empire, Vol. 1, p. 223) : "The
Imperial Democracy that held a world beneath its sway, from
the Senators who have historic names, down to the humblest
tiller of the soil, from Julius Caesar down to the smallest shop-
keeper in a back street of Rome, was at the mercy of a small
group of usurers." (Frederick Soddy: Wealth, Virtual Wealth
and Debt, page 185.)
The People Clamor for More Money
By the time 1877 had rolled around the economic pressure
had increased until the money changers were becoming fright-
ened at the clamor for more money in circulation, and the talk
of the good old full legal tender greenbacks of "Honest Abe."
People could not get over the fact that Lincoln had produced
that kind of greenbacks for them, and they were just as good as
gold anywhere, and couldn't understand why it could not be
done again. Of course, the money interests howled about its shin
plasters of the civil war period, and how low in value they had
sunk, not telling the people, of course, that they (the money
changers) had caused the exception clause to be placed in the
act creating them, and giving the money changers their excuse
to discount them. Furthermore, do not forget, dear reader, that
the bankers all over the country by then were issuing "their
LINCOLN MONEY MARTYRED 73
own" paper money or National bank notes, and they surely
didn't want competition from Uncle Sam in manufacturing paper
money. No, siree ! That would be "unsound" money and that
wouldn't do at all for the "dear peepul. "
The Money Changers Give Their Orders
The howl of the people for more money became so great in
1877, that the American Bankers Association of 247 Broadway,
New York City, thought it time to be up and doing for them-
selves. So it seems their secretary, Mr. James Buel, sent a circular
letter to all their members that read like the following :
"It is advisable to do all in your power to sustain such
prominent daily and weekly newspapers, especially the Agri-
cultural and Religious Press, as will oppose the greenback issue
of paper money and that you will also withhold patronage
from all applicants who are not willing to oppose the govern-
ment issue of money.
"Let the government issue the coin and the banks issue the
paper money of the country; for then we can better protect
each other. To repeal the Act creating bank notes, or to re-
store to circulation the government issue of money will be to
provide the people with money and will therefore seriously
affect our individual profits as bankers and lenders.
"See your Congressman at once and engage him to sup-
port our interests that we may control legislation." (By per-
mission from "Who Rules America," by C. K. Howe.)
Well, there it is in all its nakedness, telling the whole story.
The bankers all over the country must sustain the farm and re-
ligious papers and withhold loans from the borrowers who
wouldn't oppose the government issue of "greenbacks" which
greenbacks would do the awful thing of providing the people
with money without interest, and thereby keep the profits of
usury — the "vicious," "wicked" custom that had been practiced
by money changers and was condemned by all great thinkers
from Moses down — from the poor bankers.
Then again, the bankers all over the country were to work on
their Congressmen and get them to support the interest of the
manipulating bankers, that they might control legislation, when
they, the Congressmen, were elected and paid by the people to
support and protect the people's interests.
That letter should be in the hands of every voter in America,
or, better still, a law should be passed compelling every banker
to have it placed in a large readable type on his front window,
to thereby show what his real assets are, and without which he
could not exist, namely, control of newspapers and magazines,
and browbeating their customers to make them work on their
74 LINCOLN MONEY MARTYRED
Congressmen, and putting pressure on the Congressmen, them-
selves, in order to control legislation and to have special acts
passed, giving them (the bankers) SPECIAL PRIVILEGES.
Some press comments of that time. (We wonder who owned
these papers.) New York Tribune, January 10, 1878:
"The capital of the country is organized at last, and we
will see whether Congress will dare to fly in its face."
The next day it says :
"The time is near when they (the banks) will feel them-
selves compelled to act strongly. Meanwhile a very good thing
has been done. The machinery is now furnished by which, in
any emergency, the financial corporations of the East can act
together at a single day's notice, with such power that no act
of Congress can overcome or resist their decisions."
They knew what the contraction of the volume of money
would do and started in to educate the people to the idea of sub-
missive slavery. About the same time that the above appeared,
the following appeared in the New York World :
"The American laborer must make up his mind henceforth
not to be so much better off than the European laborer. Men
must be content to work for less wages. In this way the work-
ing man will be nearer to that station in life to which it has
pleased God to call him!"
A little later in our story, the reader will see where the Ameri-
can farmer was to be put in his place as a peasant.
Following the demonetization of silver in 1873, there had been
the worst panic the country had ever experienced, and there was
a growing demand for money, and many indeed were clamoring
for good old "Lincoln Greenbacks" of full legal tender. So, to
stop them and to quiet the country there was passed in 1878 an
act called the Sherman Law (Old John again) which allowed the
Secretary to purchase and coin a limited amount of silver.
The Money Changers Order a Panic
The money changers now wanted to get rid of this and all
other money that was not National Bank notes, so it is said, that
on March 11, 1893, a circular letter to become known as the
"Panic Circular of 1893," was mailed to National Banks by the
American Bankers Association. This circular gives the reader
the "real goods" on the operation of the legislative influence and
control bv the money changers. The circular read as follows :
The interest of the National Banks require immediate finan-
cial legislation by Congress. Silver certificates and treasury
notes must be retired and National Bank Notes upon a gold
LINCOLN MONEY MARTYRED 75
basis made the only money. This will require the authorization
of 500 millions to 1,000 millions of new bonds as the basis of
circulation. You will at once retire one-third of your circulation
and call one-half of your loans. Be careful to make a monetary
stringency among your patrons, especially among influential
business men. Advocate an extra session of Congress to repeal
the purchasing clause of the Sherman Law and act with other
banks of your city in securing a large petition to Congress for
its unconditional repeal per accompanying form. LTse personal
influence with your Congressmen and particularly let your
wishes be kno\\Ti to your Senators. The future life of national
banks as fixed and safe investments, depends upon immediate
action as there is an increasing sentiment in favor of Govern-
ment legal tender notes and silver coinage."
(From "Who Rules America," by C. K. Howe.)
Does the reader begin to see just how Congressmen and Sena-
tors come to vote for laws favoring the money changers and
detrimental to the people? Can you still believe that they (our
legislators) work for us, who pay them? Or can you begin to see
how we get "sold down the river."
The next big fight with the strongly intrenched money chang-
ers came in 1896 when the "Great Commoner," William Jennings
Bryan, ran for President on the "Free Silver" issue on the Demo-
Mr. Byran had been in Congress from Nebraska, and was a
delegate to the National Democratic Convention at Chicago in
1896, and there made the great emotional appeal in his "Crown
of Thorns and Cross of Gold" speech which won him the nomi-
nation for the presidency. Bryan was trying to get the "crime
of '73" law repealed and again have the government coin all the
silver brought to the mints, free of charge, as it always had been,
previous to 1873.
This could not be permitted ; so the bankers showed the people
that gold was quite sufficient for money ; there was plenty of it ;
they shoveled out millions of dollars in gold over the country to
prove their case. They made the psychological appeal of "the
full dinner pail" and among other things, so it is said, induced
the manufacturers and industrialists to inform their employees
that if Bryan was elected all factories and plants would close
and there would be no work. This chicanery enabled them to
beat Bryan by the small margin of a half million votes.
Up to 1906 the Democratic Party had alwaj's been known as
the Party of the People, and had not been ruled entirely, at
least, by the large interests and money changers. After that time,
however, it made no difference which party one voted for, both
were the same, about the only difference being the slogan used
in their campaigns.
76 LINCOLN MONEY MARTYRED
Since that time botl) parties have sponsored and adopted
measures like the Initiative and Referendum, which in former
years had been found only in the Socialist Party platform. Many
of these reforms, especially if they didn't amount to much and
especially if they didn't operate against privately owned money
systems, were tolerated. But let any man come out and start
something against the money changers' private racket, and just
as surely was he crucified socially and politically at least, and
especially as to his character. This is done today the same as it
has been practiced down through the centuries; even as Christ
was crucified on Calvary, for driving the money changers from
the Jewish Temple for their manipulation of money there.
Another Valiant Lindbergh
One of the most persecuted of these crusaders for the right
of the masses to a decent living was none other than the father
of America's great Ace, "Lindy," Charles A. Lindbergh, Sr. His
books "The Economic Pinch" and "\Yhy Is Your Country at
War?" were said to have been suppressed by the Department of
Justice during the World War, but by his introduction of a most
scathing and revealing resolution in Congress in December, 1912,
concerning the investigation of the money Trust, he was instru-
mental in defeating one of the most vicious and piratical acts of
money legislation ever offered up to that time ; an Act to create
what was to be known as the National Reserve Association, a
measure somewhat like the later bill, the Federal Reserve Act.
This was sponsored by Senator Nelson W. Aldrich of New York
and Congressman Edward B. Vreeland, a banker of New York.
The Bill was to confer upon this association the arbitrary and
despotic right to issue money and control bank credit for fifty
And does the reader ask himself if the Aldrich that is the
son-in-law of John D. Rockefeller and chairman of the Board of
the Chase National Bank of New York, the bank that on its 50th
birthday had resources just 1,000 times as large as they were on
its first statement, is the son of that Nelson W. Aldrich? Well,
it seems that is true, and that at least one son is well taken care
of, but possibly the last page of the history concerning our
financier congressmen has not been written.
An extract from Congressman Lindbergh 's book regarding the
Aldrich-Vreeland Bill is herewith included, to show you the type
of man and the courage of this, one of America 's most courageous
of American servants, in the halls of Congress. Contrast him with
some you have read about previously in this narrative and thank
God that once in a while we get a real man in Congress.
LINCOLN MONEY MARTYRED 77
The following is an extract from the book, "Banking and
Currency and The Money Trust," by Congressman Charles A.
Lindbergh, Sr. :
"When the Aldrich-Vreeland Emergency Bill was sprung
in the House in its finished draft and ready for action to be
taken, the debate was limited to three hours and Banker Vree-
land placed in charge. It took so long for copies of the Bill to
be gotten that many members were unable to secure a copy
until a few minutes of the time to vote. No member who wished
to present the people 's side of the case was given sufficient time
to enable him to properly analyze the Bill, I asked for time
and was told that if I woiQd vote for the Bill, it would be given
me, but not otherwise. Others were treated in the same way.
"Accordingly on June 20, 1908, the Money Trust won the
first fight and the Aldrich-Vreeland Emergency Currency Law
was placed on the statute books. Thus was the first precedent
established for the people's guarantee of the rich man's
watered securities, by making them a basis on which to issue
currency. It was the entering wedge. We had already guaran-
teed the rich man's money, noAv, by this Act, the way was
opened, and it was intended that we should guarantee their
watered stocks and bonds. Of course, they were too keen to
attempt to complete it in a single act, such an enormous steal
as it would have been if they had included all they hoped ulti-
mately to secure. They knew that they would be caught at it if
they did, and so it was planned that the whole thing should
be done by a succession of Acts. The first three have taken
"Act No. 1 w^as the manufacture, between 1896-1907,
through stock gambling, speculation, and other devious meth-
ods and devices of tens of billions of watered stocks, bonds,
"Act No. 2 was the panic of 1907, by which method those
not favorable to the money trust could be squeezed out of
business and the people frightened into demanding changes in
the banking and currency laws which the Money Trust would
frame. (Note again reason for panics and hard times — author.)
"The Act No. 3 was the passage of the Aldrich-Vreeland
Emergency Currency Bill by which the money trust's interests
would have the privilege of securing from the Government
currency on their watered stocks and securities. But while the
Act contained no authority to change the form of the Bank
notes, the U. S. Treasurer (in some way that I have been
unable to find reason for) implied authority and changed the
form of bank notes which were issued for the banks on Gov-
ernment bonds. These notes had hitherto printed on them,
'This note is secured by bonds of the United States.' He
changed it to read as follows: 'This note is secured by bonds
78 LINCOLN MONEY MARTYRED
of the United States and other securities.' 'Or other securities'
is the addition that was secured by special interests.
"The main thing, however, that the Money Trust accom-
plished as a result of the passing of this Act was the appoint-
ment of the National Monetary Commission, the membership
of which was chiefly made up of bankers, agents, and attorneys,
who have generally been educated in favor of, and to have a
community interest with Money Trust. The National Monetary
Commission was placed in charge of the same Senator Nelson
W. Aldrich and Congressman Edward B. Vreeland, who re-
spectively had charge in the Senate and House during the Act
"The Act authorized this commission to spend money with-
out stint or account. It spent over $300,000.00 in order to learn
how to form a plan by which to create a greater money trust,
and it afterwards recommended to Congress to give this pro-
posed trust a fifty year charter by means of which it could rob
all humanity. A bill for this purpose was introduced by mem-
bers of the Monetary Commission and its passage planned to
be the fourth and final act of the campaign to completely en-
slave the people.
"The fourth act, however, is in incubation only, and it is
hoped by that time, we realize the danger that all of us are now
in, for it is the final proposed legislation which, if it succeeds,
will have us in the complete control of the moneyed interests.
History records nothing so dramatic in design, nor so skillfully
manipulated, as this attempt to create the National Reserve
Association (writer's note: now the Federal Reserve System)
otherwise called the Aldrich plan — and no fact or occurrence
contemplated for the gaining of selfish ends is recorded in the
world's records which equal the beguiling methods of this
colossal undertaking. Men, women, and children have been
equally unconscious of how stealthily this greatest of all giant
octopuses — a greater Money Trust is reaching out its tentacles
in its efforts to bind all humanity in perpetual servitude to the
greedy will of this monster.
"I was in Congress when the panic of 1907 occurred, but I
had previously familiarized myself with many of the ways of
high financiers. As a result of what I discovered in that study,
I set about to expose the Money Trust, the world's greatest
financial giant. I knew that I could not succeed unless I could
bring the public sentiment to my aid. I had to secure this or
fail. The money trust had laid its plans long before and was
already executing them. It was then, and still is TRAINING
THE PEOPLE THEMSELVES, TO DEMAND THE ENACT-
MENT OF THE ALDRICH PLAN OR A BILL SIMILAR IN
EFFECT. Hundreds of thousands of dollars had already been
spent and millions more reserved to be used in the attempt to
LINCOLN MONEY MARTYRED 79
bring about a condition of public mind that would cause de-
mand of the passage of the bill. If no other methods succeeded,
it was planned to bring on a violent panic and rush the bill
through during the distress which would result from the panic.
It was figured that the people would demand new banking and
currency laws ; that it would be impossible for them to get a
definitely practical plan before Congress when they were in
an excited state and that as a result, the Aldrich Plan would
slip safely through. It was planned to pass that bill in the Fall
of 1911 or 1912." (From "Who Rules America," by C. K.
Well, dear reader, the above from the Great Lindbergh's book
surely gives it to us straight. No wonder it was suppressed. Sad
to relate this bill spoken of by Lindbergh was later to be passed
by Congress and called the Federal Reserve Act. (By others more
properly called the Federal "Robbers" Act.) This is the law
under which we live (or starve) today.
The Money Changers Add Another Link
to the Golden Chain
Well, we find it was only a short ten years until the money
changer was back to Congress for another big slice of special
But how to get it? We were not at war with anybody, so the
bankers simply drew money from circulation and called loans
and refused new loans, and noised it about that money was tight
— and a panic ensued. There was a brand new emergency, all
made to order and working fine ! And ' ' Oh boy, Oh boy, ' ' say
the bankers and money changers, "We have just got to rescue
our country or it will all go to the dogs, BUT if we do this, we
will just have to have more — money ; you know money is
"tight" and hard to get, and we have just about got all the
money from Uncle Sam on the Government bonds that we can
(and besides, those Government bonds are too high, we simply
can't afford them). BUT, we have a whole vault full of nice
yellow corporation bonds that we have kindly floated in the last
ten years and if you (to our Congress) will just permit us to
turn these over to the Treasury and issue us nice new National
Bank notes on these bonds, then we can loan out the nice new
money and 'save the country.' But you will have to hurry, no
time to lose, never can tell what will happen."
So Congress hurried and passed the Aldrich- Vreeland Emerg-
ency Law giving the money changers their law, and the Secretary
of the Treasury (kindly, without any authority in the bill)
80 LINCOLN MONEY MARTYEED
changed the wording on the New National Bank notes to read :
"This note is secured by bonds of the United States or other
securities," instead of just "By the United States Bonds."
And believe it or not he got away with it. Marvelous! Wasn't
it? Wouldn't the reader say that trick makes him one of the
Money Changers' Club? Can't you imagine how proud his de-
scendents will be of him when they find out the above facts
The reader will please refer again to the two reasons why we
have good times and "easy money" and hard times and "tight
money." You can see it worked again.
And then, that Emergency Law? Who was in a bad fix? The
people ? No ! They were well and busy trying to make both ends
meet, but the poor bankers, they had loaned all their money out
at such legal usurious interest compounded that strange as it
may seem, it not only ate up all the principal, but mortgaged all
the available property. Then the banks had to create the emerg-
ency so they could foreclose a lot of farms, businesses, and
homes. In other words, they had to liquidate their self created
jams in order to clear the decks for further loans. With the
panic, they could scare Congress into giving them another special
Well, some day maybe the poor dumb American people will
wake up to this kind of "racket" and when they do — but we
must get on — for it won't be long now before the money chang-
ers will have all that new money loaned out and they will have
another NEW special privilege framed up into the securing of
which they will attempt to scare and bribe Congress.
But who is this our long range telescope picks up at the rail
of the Great Steamer, plowing up the Hudson into New York?
We will just peep over his shoulder when he shows his passport.
Jumping Jehosaphat, would you believe it? None other than
Paul M. Warburg, himself! The Jewish banker right from the
holy of holies of all money changers — Temples on the Rhine at
Frankfort, Germany, the Rothschild Temple, itself ! Well, now
maybe this fellow can "figger" out something in the way of
money-changing for us over here, what with all our periodical
shortage of money. Not only can he, dear reader, but he does!
And how ! Of course, he speaks a little broken, but his arms are
all right so he gets along first rate.
And then 1912-1913 came along and, said the bankers to the
people who asked loans, "You know, boys, I can let you have
only half as much money as you will need on the new work you
have planned; you know, money is getting pretty "tight" again,
and you know these dreaded 'business cycles'; they just keep
coming around, can't be helped, though, I guess. Kinda like poor
people and taxes; guess we will always have them with us!"
"But did you hear of that new bill up before Congress, that
LINCOLN MONEY MARTYRED 81
'feller' Glass tells about? Calls it the Federal Reserve Act, or
something like that. And what do you think," said the slippery
banker, "if we just had that law passed, we would never have
any more 'tight money' and hard times. You fellers better write
your Congressmen and Senators to be sure to vote for it, and
maybe soon you can get the other half of the loan you want to
go ahead with your work."
And by multiplying that conversation by millions and getting
the 'kept press' to ballyhoo night and day, and all the Chambers
of Commerce in the front row with the boosters and greeters as-
sociation, seconded and parroted by all the service clubs all over
the country, the mighty Federal Reserve Act, the ultimate of
the ultimates, the last word in banking and death to all panics
and hard times, was passed December 23, 1913.
And now, in 1934, who do you suppose we hear lauded as the
father of the Federal Reserve System? Give up? Well, believe it
or not, Mr. Paul M. Warburg, himself; none other. The gentle-
man who was coached and trained by the high priests of the
money changers in all the intricate and complicated money
manipulation trickery known to the "House of Rothschild on the
Rhine" and who had been in our country only six or eight years
before he became the "father" of the "monstrosity" (The Fed-
eral Robbers Act).
And does it work, this money changers' last word in banking
practice? Does it make panics impossible? Does it make money
plentiful at all times? Does it keep our farmers and industries
running at a paying rate? Well, dear reader, look about you and
see the effect of the "last word" put over on us by the "House
of Rothschild" and decide for yourself.
It is said in well informed circles now that the Federal Re-
serve System was especially prepared for us, and rushed through
Congress just in time to have it working smoothly so WE
COULD FINANCE AND PAY FOR THE GREAT WORLD
WAR, that they, the Morgans, the Warburgs, the Schiffs, the
Kuhns, Loebs, the Seligmans, the Monds, the Sassoons, the
Rothschilds, and other Money Changers of their kind are said to
have had in preparation boiling and stewing for years and were
just about ready to cut loose, and which was "cut loose" in
August, 1914. And they claim to pray to the same God that we
do ! Certainly it must be that the same God can never favor
them and us at the same time, under such an inhuman system as
the Federal Reserve System has proven to be.
The Federal Reserve
To begin with, the Federal Reserve System in spite of the
name, "Federal," is a PRIVATELY owned banking system.
82 LINCOLN MONEY MARTYRED
NOT ONE dollar of stock in the system is owned by our govern-
ment as the name would imply.
Will the reader kindly let his mind travel back to the found-
ing of the FIRST big LEGAL bank spoken of in an earlier chap-
ter, the Bank of England? Same story — privately owned. Then
again, the First Bank of the United States — the same thing
again. Sounded like the government owned it, didn't it? And
again, the Second Bank of the United States, ditto — privately
owned. Then later, a slight change, but still confusing and mis-
leading. The National Bank Act, allowing charters of "National
Banks." The same old thing again. Deception — make believe —
confusion. Then the crowning glory of all "The Federal Reserve
System" or as some people call it, "The Federal Robber System."
The same old stuff again, and if the reader will start asking his
acquaintances who o\\tis the Federal Reserve Bank he will
likely be surprised at the great number of people that really be-
lieve that they are owned, or at least controlled, by our Federal
Government. So the idea of the name really works, and does as it
is intended to do — confuse and mislead the people into thinking
the banks are owned by the government.
Well, the foreign money changers should know what will and
what will not work. They have had uninterrupted experience
since the establishment of the Bank of England. Deception,
make-believe, confusion have ever been among the chief tools of
the money changers.
The reader's attention is again called to the ADVANCE-
MENT in methods, and what the Money Changers had gotten
out of the Government in the way of laws and privileges com-
pared to what they received with their charter for the Bank of
You will remember, of course, that at first, they were not so
far removed from the time it was a heavy fine to loan money at
usury, and near the time also when the old Jewish money
changer had seven teeth extracted, one each day, until he paid
his fine for practicing usury ; so they were naturally more timid
in those days. But as time went on, and more and more people
borrowed money, and also as more and more people got into the
loaning business, it became semi-decent and finally is now con-
sidered as "honorable" business, at least hy some. Can you beat
it? But to get on with the matter of privileges asked of the gov-
ernment by the money changers with the passing of the years :
The Bank of England loaned all its capital to the government
and was allowed to print and issue (themselves) an equal amount
of currency but remember, the Bankers had to print their own
money and also redeem it themselves, in gold and silver, and
were allowed to loan it only once.
The First and Second Banks of the United States charter
allowed the banks to deposit government bonds with the Treas-
LINCOLN MONEY MARTYRED 83
urer, which the bank got interest upon, and the banks were
allowed to issue currency on the bonds which currency was
printed for the banks by the government at a cost of $62.50 for
$100,000.00 in currency and they were charged only one-half (Vo)
of one (1%) per cent by the government, so the reader can
readily see that if the banks had not loaned a cent of the new
money, they would have been ahead anyway.
Then the National Bank Charter provided for the bank to
have 90% of the value of the bonds deposited issued to them in
currency, printed at cost by the Government and redeemable by
the Government. This was soon changed to 100% issue of cur-
rency. Then what? Hold on to your hat, dear reader! They were,
through the checking system, allowed to loan this money, not
once or twice, but seven to ten times over each year, by not
being compelled to keep more than 10% average of the money
on hand at any time for a reserve.
Well, that was so easy and worked so well that they soon got
the same privilege with their Depositor's money! Then that
wasn 't enough ! Next, they got as you will remember, the privi-
lege of putting up commercial or corporation bonds to issue cur-
rency against bonds that they had been able to buy at most any
old price from nothing to something, instead of having to buy
government bonds. But still it was so easy, they might just as
well have more and bigger and better "privileges."
So comes Mr. Warburg, from the "House of Rothschild on
the Rhine" and what small privilege does he, as a foreign money
changer of the worst type (for us at least) figure out as a proper
thing for the dumb American farmer and laboring man to give
him and his gang of banketeers?
Well, friends, this is the beginning of one of the blackest
chapters of our beloved America's history.
If we, as American citizens, descendants of the valiant pa-
triots of Bunker Hill and Valley Forge and New Orleans, are
able to extricate ourselves from this awful mess of a banking
privilege and mire of bonded indebtedness, it will simply be be-
cause we arise in our wrath and hurl these foreign money
changers from the "House of Rothschild on the Rhine" and
London right back to where they came from and with only what
they came here with, and nothing more !
"Privileges" of the Federal Reserve Banks
To begin with, the Federal Reserve Banks not only got a
charter to do banking, but a right to make all National Banks
join their system and also to deposit 6% of their total capital
and surplus with the Federal Reserve Banks TO GIVE THEM
A FUND OF MONEY TO DO BUSINESS WITH.
Think of it! Such a colossal nerve. And they get away with
it. The Act also provided that State banks may "join up" with
the Federal Reserve System on like terms. It is a wonder they
84 LINCOLN MONEY MARTYRED
didn't make the State banks give them half of their capital!
What the money changers were after, of course, was absolute
control of all banks in the United States, and they are fast get-
ting them, as many of the State banks, so it is said, have been
forced into the system in one way or another.
The following most excellent outline of the operation of the
Federal Reserve System is quoted with permission from the
book "Spiking the Gold" by Andrae B. Nordskog, and will give
the reader the real "low down" on the "Act,"
"WHOSE MONEY IS IT?"
"When a member bank applies to the Federal Reserve
Bank for re-discount on its commercial paper, such paper must
be accompanied by 40% in gold; that is, if an application is
made for a loan of $1,000 collateral consisting of 60% com-
mercial paper and 40% of gold must be deposited with the
Federal Reserve Bank. On this collateral the Federal Reserve
Bank may apply to the United States Treasurer for the issu-
ance of $1,000 worth of Federal Reserve notes ; in exchange for
this new currency the Treasurer may require a deposit of not
to exceed 5% of the gold included in the 40% deposit held by
the Federal Reserve Bank. The law does not say that the
Treasurer may require 5%, it merely says that he may require
not to exceed 5% ; so he may, according to law, reduce this
requirement to one-half of one per cent, or to nothing if he
thinks this is the discreet thing to do. And this is all of the
protection that is given to the people of the United States in
exchange for the billions of dollars worth of currency which
is turned over to the private corporation, known as the Fed-
eral Reserve Bank which is controlled by the Wall Street
"RESERVE NOTES REDEEMABLE IN TREASURY GOLD"
On each Federal Reserve Note is printed the following:
'Redeemable in Gold on demand at the United States Treasury
or in gold or lawful money at any Federal Reserve Bank.'
and in letters many times as large is printed THE UNITED
STATES OF AMERICA will pay to the bearer on demand
FIVE DOLLARS. ' The Federal Reserve Bank may, within an
hour after receiving new crisp Federal Reserve Note currency
from our U. S. Treasury go back to the Treasury and demand
Uncle Sam's GOLD in exchange for the currency, only an
hour before issued to the Federal Reserve Bank for as small a
deposit as 5% or less of gold; and this 5% of gold is kept in
the vaults of the Federal Reserve Bank and not in the U. S.
Treasury according to the statement made to the author by
an officer of the Federal Reserve Bank. This 5% of gold, if that
much is laid aside for this kind of security, is held in the
vaults of the Federal Reserve Bank by the Federal Reserve
LINCOLN MONEY MARTYRED 85
Agent who acts as a go-between for the Federal Reserve Bank
and the Government ; this agent is appointed by the Federal
Reserve Board ; his salary is paid by the Federal Reserve Bank
and he has his office in the Federal Reserve Bank.
"It will be noticed that the inscription on the Federal Re-
serve Notes provides that the notes are redeemable 'in gold on
demand at the United States Treasury,' but they are redeem-
able in gold or other lawful money at any Federal Reserve
Bank.' The significance of this subtly worded but well defined
discrimination may not be apparent at first glance ; but when
you consider that in trying to obtain gold for these notes at
the Federal Reserve Bank, you may be advised that you cannot
obtain gold, and that you will have to accept other kinds of
paper money which is termed lawful money ; you may then
begin to see the reason for this provision in the law. The Fed-
eral Reserve Bank may take these same notes to the United
States Treasury and demand Uncle Sam's GOLD and get it,
even down to the last available dollar which may be in the
Treasury vaults. The Federal Reserve Bank may then take
this gold from Uncle Sam's vaults and ship it to foreign coun-
tries ; the Federal Reserve Bank has sent gold abroad to the
tune of hundreds of millions of dollars ; having shipped at
times, at the rate of more than 100 million dollars in gold per
week to other countries. It has been repeatedly said by the
daily press of this country that Uncle Sam has FIVE BILLION
DOLLARS in gold stored in the vaults in Washington, D. C. ;
the fact is, that it is less than that by THREE BILLIONS of
dollars; recent reports show that it has been approximately
one billion, seven hundred million dollars which is held by our
U. S. Treasury, and, should the Federal Reserve Bank want to
do so, it could call in its issue of Federal Reserve Notes and
demand gold from our Treasury in exchange therefor and de-
plete our gold supply."
"UNITED STATES GOLD NOTES ACCEPTED AS GOLD"
"The Act also provides that national banks may deposit
U. S. Gold Notes in lieu of gold with the Federal Reserve Bank
in exchange for an issue of Federal Reserve Notes ; in this way
the bank making such application to the Federal Reserve Bank
may convert a 40% currency supply into a 100% supply by
accompanying the 40% gold deposit with 60% of commercial
paper and by this method increase its earning power 150%
over the old system. A bank with $100,000 worth of U. S. Gold
Notes could increase its currency supply to $250,000 by ob-
taining Federal Reserve Notes, and, by resorting to the com-
mon practice of loaning out the bank's credit to the extent of
ten dollars for each dollar it possesses, could increase its loan-
ing powers from One Million Dollars to Two and One-Half
86 LINCOLN MONEY MARTYRED
The reader can readily see by the foregoing that about all the
"privileges" left for the money changers to ask for, would be
to have a nice brass ring put into each one of our noses, in order
that they could absolutely "control" the most minute action of
each individual. But there may just be a few clauses in our good
old Constitution, that the foreign money changers are not entire-
ly familiar with, and then again there may yet somewhere be just
a few sparks of the old love of home, and liberty, and country
alive in our land, and such things may grow fast and furious
when fanned too strenuously by the dominance, arrogance, and
contempt of the same Foreign Money Changers.
The World War
The World War came on as per schedule, financed at the ex-
pense of the American farmer, laborer and other classes that
bought bonds "till it hurt" and all through the entire holocaust,
the money changers were taking their millions of blood money,
to swell their ever growing loot, and to bind the nations of the
whole earth in a morass of indebtedness the like of which the
world had never before witnessed, all as per schedule also.
The War end, found Germany and her Allies prostrate and
helpless, and the international trade of England, France, Ger-
man}^, and other nations practically annihilated, as all efforts of
the combatants had been exerted to win the War. Then the ter-
ritory of the Central Powers was divided into numerous small
nations, later to be proven also to have been engineered by and
for the purposes of the International Money Changers.
Russia was politically destroyed and her Royal Family and
hundreds of thousands of intelligentsia or upper and educated
and professional people were murdered, and other millions forced
to starve — all in order that a serfdom might be fastened upon
that nation in the name of "Communism," said to have been
accomplished with money furnished by the International Money
Changers, as part of their world plan of conquest.
America then, of all Nations, with her greatly accelerated
and developed "production line" factories, was in a premier
position to be further exploited in the guise of a "Foreign Trade
The trade of other Nations, before mentioned, at a standstill,
our factories were "tuned up" and our most efficient "Bond
Salesmen" were also "tuned up" and we were sold Billions of
foreign bonds from all over the world, to enable the foreign
countries to buy our merchandise ! We were completely propa-
gandized into trading our "birthright" of natural resources,
LINCOLN MONEY MAETYRED 87
manufactured into usable articles, for a mess of Foreign Pottage
not even of gold, but of beautifully lithographed PROMISES
TO PAY GOLD ! And they mostly remain promises today !
"Will the reader pause and shut his eyes for a moment and try
to visualize anything more ridiculous and asinine? Can't do it?
No, and no one else can, now that it has happened. And who do
you suppose engineered the DEAL of unloading all those Bil-
lions of Dollars worth of Foreign Bonds upon a trusting Ameri-
can public? Ask the Senate Investigating Committee about such
things, they know. The House of Morgan, the Fiscal Agents for
the Bank of England, and other foreign Money Changers, in-
cluding Seligman Brothers, Kuhn, Loeb & Co., Dillon, Read &
Co., together with many other "Big Money" boys were proven
through their powerful banking connections to have apportioned
the bonds out to smaller banks all over the country, and they
had no choice, but accept and peddle their apportion to an un-
suspecting and propagandized public, who had been led to trust
And did the smaller banks come out handsomely in the end
with their helping of the Foreign Money Changers' Racket?
Well, to date, records show that one-third of all banks in the
United States, some 10,000, have gone broke in the last ten years !
"He that lives by the sword, shall perish by the sword," seems
to work out here, doesn't it?
During the World War, the Federal Reserve System had
brought about an inflation of the currency by the great power
that the Federal Reserve Act had given them, and by 1920, on
June 30th, the Federal Reserve "money" or "greenbacks" issued
by them stood at $3,250,173,000.00. This had, of course, put wages
up, and prices of all commodities as well as land values, as that
little thing of an adequate supply of money is all that the Ameri-
can people have ever needed to bring about so-called "Good
Times" and prosperity.
So, when the Federal Reserve had "dished out" the money,
high prices and high wages were the order of the day. But this
was not to last. The money changers had floated billions of
stocks and bonds and they wanted to float billions more, so com-
modities must come down, that is, what the fanner had to sell !
In seven years operation the Federal Reserve Banks had been
able to do pretty well for themselves, as by 1920 they had worked
up their net earning power to about 160 per cent as an average
for the twelve banks. Not bad for a start, was it?
The original Federal Reserve Act was not entirely sordid — ^in
it was a trace of kindly feeling for poor old Uncle Sam, for he
was to get about half of the net earnings. They soon got over
this, however, with a series of "amendments" enacted by a
"friendly" congress (we wonder what it cost to keep them
friendly). The act now gives the Federal Reserve banks all their
88 LINCOLN MONEY MAETYRED
earnings, and leaves poor old Uncle Sam only the "privilege" of
making for them (the Federal Reserve Banks) the nice new
greenbacks at practically no cost, for them to loan out to Uncle
Sam's "boys" and "girls."
In the meantime, however, when the World War closed, the
American farmer was "sitting pretty," so he thought, but the
money changers had other plans for him : Two Dollar Wheat,
Four Hundred Dollars an Acre Land, and other prices in propor-
tion, were not to be thought of for the farmer. Wasn't he just a
"Clodhopper," who worked around in the dirt and raised things?
Why should he have all these good things that such high prices
could get for him? Automobiles, telephones, silk shirts, and some
of them even bath tubs! The very idea of those "hicks" having
such things! Indeed, as Mr. Barney Baruch, the "behind the
scenes advisor" of many presidents, is said to have declared,
"Europe has her PEASANTRY — WHY SHOULDN'T AMER-
ICA ? ' ' And so the money changers proceeded to start the Ameri-
can farmers on their way to being a PEASANT CLASS ! !
That was in 1920, and the "modus operandi" or the "how to
do it" was by the way of DEFLATION!
And how do you sujjpose, dear reader, that this deflation
business can be carried out? Your memory, at this time, must be
refreshed again quoting paragraph 15 of the circular sent out by
Ikelhiemer, Morton and Vandergould, bankers of New York,
quoted previously as to the privileges of the banks, given them
by the National Bank Laws :
"National Banks are privileged to either increase or con-
tract their circulation at will and, of course, grant or withhold
loans as they see fit. As the banks have a national organization
and can easily act together in withholding loans or extending
them it follows that they can by united action in refusing to
make loans, cause a stringency in the money market and in a
single week cause a decline in all the products of the country.
The tremendous possibilities of speculation involved in this
control of the money of a country like the United States, will
be at once understood by all bankers. ' '
The reader will see by the above article that the Money
Changers surely had the power to do as they pleased with the
monej^ system of our country, and also knew just what the con-
sequences Avould be. That article, of course, was written about the
"National Bank Act" of 1863, but, of course, it would work
vastly better under all the increasing privileges and powers since
LINCOLN MONEY MARTYRED 89
obtained from Congress by the Money Changers and still better
with all the power the Federal Reserve Banks were able to wield
over the other banks of the Nation.
Now to do it and not get caught at their nefarious work was
to take a little more deception and make believe, even though it
was to cost a few million dollars. What was a few million dollars
to the "Federal Robbers System" (pardon our mistake) PVderal
Reserve Sj'stem, when all they had to do was "let" the Govern-
ment issue it for them. Besides, the reader must not forget that
we still had at the time the highly trained (in the inner shrine of
the Money Changers' Temple, the "House of Rothschild on the
Rhine") Paul M. Warburg.
He with his "sidekick," Eugene Meyer, could surely work
out something that the dumb American public would stand for
and not get too curious about. In this connection the reader will
be well rewarded by turning again to the two circulars on pages
73 and 74 of this book, said to have been ])ut out by the Secre-
tary of the American Bankers Association from their office in
New York, one in 1877 and the other in 1893, telling the bankers
throughout the country just what their part would be and how
to do it.
The Money Changers Take the United States
to the Cleaners
So the Money Changers organized a "corporation" to do
their dirty work, presumably because corporations do not have
' ' souls, ' ' and would not have to go to hell and burn f orevermore,
as the Money Changers might have to do. This corporation was
called the "Bankers' Statistics Corporation" and it was to hire
wise-looking professors "that needed the money" and other
"economic experts" to cook up a lot of "statistics" and reports
to use as an "Anesthetic Argument" on those little bankers and
on the public to make the banker help, and the public believe,
be still, and not "holler."
This plan, of course, was to do the deflating by "classes,"
starting with the farmers, to make a "peasant" class out of them,
knowing, of course, if thej" deflated the whole country at one
time, some "smart guy" might get wise and "spill the beans"!
We find a most excellent description of this episode by Mr.
Nordskog in his book "Spiking the Gold," which we quote as
"The Carnegie Institute created a department of Economics
and set aside a fund of $1,600,000.00 for this work ; Mr. War-
burg was made one of the trustees of the fund. The Bankers
90 LINCOLN MONEY MARTYRED
Statistics Corporation employed Professor E. W. Kemmerer of
Princeton University, well known economic expert, to make an
analysis of the proposed deflation program and he presented
his views in the form of a book which was later used by the
Federal Reserve Board as a semi-official document to guide that
board over the rough seas of deflation.
"The introduction to Professor Kemmerer 's book was writ-
ten by Frank A. Vanderlip, former president of the National
City Bank of New York, and Mr. Vanderlip says, in part :
" 'Professor Kemmerer shows why prices must ultimately
come down and POINTS OUT THE POLICY TO BE PUR-
SUED IN ORDER TO BRING ABOUT DEFLATION. There
are no more important questions demanding our attention today
than these, and an effort to put them squarely before the pub-
lic in simple, clear and conclusive manner is worthy of the
highest praise and the great success. Professor Kemmerer 's
book is a most useful contribution to a very vital subject.'
''In his book (which is entitled High Prices and Deflation)
Professor Kemmerer says :
" 'In general it has taken it (the wealth) from the creditor
and given it to the debtor.'
"He was referring to the inflation of currency which was
made possible under the Federal Reserve Act which was to
act as a panacea for all economic ills; but they found that it
was so good for the working people of this country and the
business-men (shopkeepers as the Wall Street bankers called
them) that it was deemed most expedient to take this newly-
found wealth away from the debtor class and put it into the
pockets of the creditor class, the bankers. The Professor, in
referring to the dangers confronting the debtor class in deflat-
ing currency, says:
" 'Among the evils of falling prices so strongly featured in
the monetary discussions of the last two decades of the nine-
teenth century, three stood out prominently. They were :
" *(1) The injustice of a falling price level to the debtor
" '(2) The depressing effect of a falling price level upon
" ' (3) The influence of a falling price level in reducing the
demand for labor and thereby increasing unemployment and
" 'A falling and prospectively falling price level is depress-
ing to business. It throws a wet blanket over industry.
" 'The third evil result of a substantial and continuing
decline in the price level is its harmful effect upon the welfare
of labor. This is a natural result of the depressing effect upon
business just described. "When business holds back in antici-
pation of falling prices, the demand for labor declines and
LINCOLN MONEY MARTYRED 91
men are laid off. Increasing unemployment causes hardship
and is a potent factor in forcing down wages and weakening
the hold of trade unions on their men. Labor naturally re-
sists wage reductions, even though the price level is falling,
and this means that a period of falling prices is likely to be
characterized by many labor troubles.' "
The reader can readily see by the foregoing that the Federal
Reserve Bankers knew just what they were about, and knew all
the troubles "deflation" would cause, but, of course, Professor
Kemmerer said prices ultimately must come down and even told
them how, so "of course it wasn't their fault" if things went
And believe it or not, right in their "book of knowledge" by
Professor Kemmerer as quoted, we can also see the wherefore of
the new name for a "deflationary period." Heretofore we had
always had just "hard times" or "panics," but since there was
to be a "bigger and better" one, it must have a new name, so
the Money Changers casually lifted it out of the "kindly" Pro-
fessor's book. Note what he says are the three "evil features"
of a deflation: "The DEPRESSING effect of a falling price level
upon business," "DEPRESSING wages," and "DEPRESSING
business." And that just about covered everything, thought the
Money Changers, so they called it a "DEPRESSION!"
On May 18, 1920, the Money Changers of the higher "Denomi-
nation" had a "deflation party" or meeting in Washington,
D. C. Again quoting from "Spiking the Gold" by Mr. Nordskog,
on that meeting:
"Mr. James A. Alexander, president of the National Bank
of Commerce of New York City, attended this deflation meet-
ing and urged an immediate deflation of currency by at once
raising the re-discount rate from the prevailing rate of 6% to
7%. Mr. John T. Scott, president of the First National Bank of
Houston, Texas, did not agree with Mr. Alexander that 'credit
was a luxury and hard to get,' but urged a program of defla-
tion ; he said, ' I think we should, and must bring about a rea-
sonable degree of deflation or contraction.' He further stated
to his fellow bankers :
" *I see nothing in the situation to justify the fear of such
a commercial crisis or financial catastrophe as we had either
in 1873 or in 1890, or 1907. If anything of that sort comes, IT
WILL BE OUR FAULT. THE FAULT OF THOSE who are in
charge of the banking and commercial interests of the country,
and I do not believe they are GOING TO BUNGLE IT.'
"In this we concur, we have no quarrels with the bankers
on this point ; they stated that if their deflation program re-
sulted in a catastrophe, THEY ALONE WOULD be to blame
for it ; and they should be made to face the music. The loss
to the farmers alone on account of this deflation program, con-
92 LINCOLN MONEY MARTYRED
sidering the drop in land values and low price levels, has been
in excess of FIFTY BILLIONS of dollars, or nearly double the
cost of our participation in the "World War.
"The bankers caused our appraised property values to drop
from more than 300 BILLION DOLLARS down to 150 BILL-
ION DOLLARS. They thought they would not bungle it, but
they did BUNGLE IT; and bungled it terribly; they have
ruined our nation. If you do not think so, just take a look
at one of our major cities, Chicago, which today is admitted
by its own public officials to be hopelessly bankrupt. On May
1, 1932, there was an aggregate amount of 690 million dollars
due in taxes in Chicago and Cook County, of which 340 million
dollars has been past due since 1928, 1929, 1930, and 1931. With
two-thirds of the value squeezed out by the deflating-bankers
the taxpayers are paying a tax rate three times as high as it
was before the deflation took place, that is why it is difficult if
not impossible for them to pay their taxes.
•'$520,000,000 Deflation in 1920"
"The race was on; the bankers adopted the deflation pro-
gram ; in less than a year they had withdrawn 520 million
dollars from circulation; that was in actual cash (currency.
Federal Reserve notes) which was destroyed. In 1921 the same
amount was withdrawn from circulation and destroyed in the
same manner. Later withdrawals brought it up to a total of
two billion, nine millions of dollars at one time ; and to these
cash withdrawals must be added the withdrawals of the credit
which are based on the cash ; during a period of fifteen months
from the fall of 1930 and including the fall of 1931 the banks
withdrew credits to the tune of more than eight billions of
dollars. Considering that we had a total cash circulation of
approximately five billion dollars before the deflation program
began, the withdrawals amounted to 40% of all our cash. This
left us but 60% of the money with which to buy goods which it
had cost 100% to produce. The natural law caused price levels
to drop. When the money is lifted out of one side of the scale,
that side will go up, and the other side containing the price
of wheat will go down. That is why $3.00 per bushel wheat
went down to 17 cents. The index of commodity prices, com-
pared to the pre-war index of 1, stood at 1.54 in 1920, but was
hammered down under the pressure of the bankers' deflation
program to .68 in 1931 ; this included a list of more than 550
different commodities including real estate.
40,000 Commercial Failures Estimated in 1932
"In 1920 there were but 8,800 commercial failures in the
United States. Following the withdrawal of one billion, forty
millions of dollars in 1920 and 1921 and the destruction of this
money by the Federal Reserve Bank there were 16,500 com-
LINCOLN MONEY MARTYKED 93
mercial failures in 1923 ; the number of failures steadily in-
creased under the deflation program and in 1931, there were
26,500, and according to a recent report in Dun's Review, com-
mercial failures are taking place in the United States in 1932
at the rate of 40,000 per year ; this includes some of the largest
and oldest business concerns in America."
After the reader has finished the foregoing and still is unable
to see just how the Banker and Money Changer is able to get
control of all the money, we will just mention the little word
USURY, that is the heart of the whole business, as is most clearly
shown in Elliot's work on Usury, page 182, and reads as follows:
''One cent loaned January 1 A. D. 1, drawing interest at
the rate of 6% compounded annually, on January 1, 1895,
would amount to $8,498,840,000,000,000,000,000,000,000,000,000,-
000,000,000,000. (8,497,840,000 decillions of dollars). To pay
this in gold 23 and 1/10 grains to the dollar, using it in spheres
of pure gold the size of the earth, would take 610,070,000.000,-
000,000 such spheres to pay the debt."
The following are the sums that $1.00 will amount to in 100
years, loaned at the rates of interest mentioned and compounded
At 1 per cent 2.75
At 2 per cent 19.25
At 3 per cent 340.00
At 10 per cent 13,809.00
At 12 per cent 1,174,405.00
At 18 per cent 15,145,207.00
At 24 per cent 251,799,494.00
And at 50 per cent it would eat up the world.
Cannot the reader now understand upon reflection why it
was that all through the 1920 to 1929 period, farmers were all
having a bad time, and why all the banks in the farming com-
munities were going broke, while manufacturers were going
"big" and stock and bond sales and the stock market were
The answer is that the Money Changers of the High Temple
of the Federal Reserve ("Robber") System were deflating the
farmers through the farm banks by forcing them to call loans
and curtail loaning privileges. And the rest of the country was
to follow when they, the Money Changers, had successfully prop-
agandized them all into mortgaging all their assets and buying
worthless foreign bonds, and time payment automobiles, and
frigidaires, etc., etc. In October, 1929, this being effectively ac-
complished, they set their "Bears" to work on the Stock Ex-
change selling "short" and down went "McGinty," the Stock
Market, to the bottom of the "Pit."
The reader can no doubt well remember that, and the new-
fangled "hard times" we have had ever since, euphoniously
called the "Depression."
94 LINCOLN MONEY MARTYRED
Of course, there were a few who escaped the 1929 "crash"
with a little money, so the Money Changers slowed the "crash"
down from time to time with wonderful messages like "Pros-
perity is just around the corner," and "Rockefeller and Morgan
are now buying large blocks of stock," thus baiting the remain-
ing suckers back into the market and "cleaning" them also.
And then along comes Mr. Roosevelt with a "New Deal."
"By Golly," says the "D. A." (Dumb American), "that sounds
good, that may be just what we need." Not stopping to ask him-
self if he could eat it, wear it, or otherwise raise a family on a
Then March 4, 1933, rolls around and we find the banks in a
race seeing who could close first !
Twelve to seventeen million men out of work, and one hun-
dred and twenty million out of patience, and with not much of
anything left but "hope."
President Roosevelt obligingly started to work with the banks
by closing all of them, and proceeded to "muff" the greatest
chance a single human being has ever had, to do a grand and
noble thing for his country, the one great thing our country has
needed badly since 1863, when the immortal Lincoln was forced
under the stress of a civil war to accept the accursed National
Banking System of the Foreign Money Changers.
And that one thing was, while he had the banks all closed,
simply to take the whole country into his confidence on the radio
and tell them (the people) the real truth about the Money Chang-
ers, and their nefarious banking schemes, and ask Congress to
pass a law taking over all banking by our government and issu-
ing money in the form of FULL LEGAL TENDER GREEN-
BACKS, loaning it out to business and industry at cost, and start-
ing great public works programs with it also.
He could have had all of the great mass of people and a great
share of the large bankers themselves, and 75 per cent of the
smaller ones with him body and soul, and a returning prosperity
such as we have never before witnessed, the gratitude of the
entire nation, and later the whole civilized world, as soon as other
people saw how it would work.
Does the reader ask, "Why in the world didn't he do it?"
Well, dear reader, do not feel lonesome, other millions have asked
and still ask, the same question, and likely future generations
will still be asking— " Why ? "
After a time all the banks that still had any money left were
allowed to open, but the thousands with "frozen assets" stayed
closed. "Frozen Assets" — now that is a new kind of an "Asset,"
in the financial field, isn't it? It is said that the way they came
to be called "frozen assets" was when so many of the smaller
banks ran out of money and were called on for their loans at
the Federal Reserve, they would take various assets of corpora-
LINCOLN MONEY MARTYRED 95
tion stocks and bonds, and pretty foreign bonds to the Federal
Reserve and ask for "loans" on them, or "re-discount" as it is
called. All they received from the Federal Reserve Banker was
an "icy stare," no cash! So those "no loan" assets became
known as "frozen assets." Many millions of indi^'iduals seem
to be burdened with these "frozen assets" they cannot get a
The next big thing in the New Deal was labeled N.I.R.A. The
critics of this part of the "New Deal" have this to say of its
action: "It ruins the small business man by suspending the
action of the Sherman Anti-Trust Act against collusion and price
fixing; permits a great deal of the new activity known as "Chis-
eling," raises prices of commodities to the consumer without giv-
ing him more money with which to buy, and thereby lowers sales
volume. Consequently it hinders instead of helps business."
The New Deal seems to have been planned with the same idea
as the money racket, namely, the scarcer a thing is the higher
prices one can get for it. The "brain trust" seems never to have
thought of a way in which a "consumer," the really "Forgotten
Man," would be able to buy more commodities at an increased
price, to employ more men, in factories to make more commodi-
ties, to sell, to get more money to employ more men, etc., without
he, himself, the consumer, getting more money with which to
buy. But perhaps we forget! Maybe the "Brain Trust" meant to
start the "buying" by the government borrowing money to pay
the farmers for seven millions of hogs to be killed and put into
fertilizer or into the river, and to plow up millions of acres of
wheat and cotton so he (the farmer) could grow less, and have
less income to buy more commodities, at a high price — but no,
that doesn't make sense ! No, certainly not ! Neither do most other
plans put forth so far, for a "planned recovery" by "evolution."
The Gold Bill
Then, along comes the "Gold Bill," heralded as a real measure
to raise commodity prices (so that we can buy more of them
without more money with which to buy), "devalue" the dollar,
stabilize the money value in relation to foreign monej^ and what
As this is a rather complicated matter, it may be well to leave
its analysis to a man who has had many years of experience in
such matters and has been paid by the people for it, and earned
his salary, having been chairman of the Banking and Currencj'
Committee of the House of Representatives of the United States
Congress for some years, and should certainly know what he is
96 LINCOLN MONEY MARTYRED
talking about, the Hon. Louis T. McFadden, Representative from
Pennsylvania, the same gentleman who, when opposed for re-
nomination by the forces of the Money Changers, was, by being
able to tell his constituents the simple truth, re-nominated, and
returned to Congress, not only on his own ticket, the Republican,
but also the Democrats'.
Since fellow citizens of his home state have so much confi-
dence in him, may we not listen to him with respect and see how
the Gold Bill will work? This speech was made before Congress
on January 24, 1934, and may be found in the Congressional Rec-
ord of that date (but not in the newspapers; do you wonder
Mr. McFadden said:
Seventy-third Congress, Second Session
Franklin D. Roosevelt, the Apostle of Irredeemable
SPEECH of HON. LOUIS T. McFADDEN
In the House of Representatives Wednesday, January 24, 1934.
Mr. McFadden. Mr. Chairman, a citizen of the United States
has asked me to explain for his benefit and for the benefit of
other United States citizens the real meaning of the Roosevelt
gold bill, the bill which the House passed last Saturday by 360
votes to 40, with 32 Members not voting.
Mr. Chairman, a law against the Constitution is void. The
gold bill creates a nullity. Old John Marshall said that the words
of the Constitution are not to be twisted out of their plain, every-
day meaning. The Constitution says Congress shall have power
to coin money and to regulate the value thereof. This, Mr. Chair-
man, means that Congress has power to make coins of metal and
to stamp the true value upon each one of them. It does not mean
that Congress shall refuse to furnish the people of the United
States with an adequate coinage, and it does not mean that a
theoretical amount of uncoined metal shall be called a coin. A
coin is an object which may be seen and felt and even heard if
one tests the ring of it.
Mr. Chairman, the gold bill attempts to cut out, delete, and
destroy that part of our great written Constitution pertaining to
the power of Congress to coin money and to regulate ; that is, to
stamp on the metal coin the value thereof. The bill is unconsti-
tutional on its face because it seeks to nullify the Constitution.
Moreover, it is a bill which is contrary to the common law and
to the law of custom upon which the common law rests. It at-
tempts to legalize robbery. It attempts by force to deprive the
people of the United States of their right to the currency of the
Constitution. It gives the international bankers power to send
the gold belonging to the people of the United States to a place
LINCOLN MONEY MARTYRED 97
of deposit reserved to themselves in Europe. Mr. Chairman, the
gold bill cannot become a valid law by any constitutional means.
Now, Mr. Chairman, let us look at the bill to see if the legal
hirelings of the Bank of England and their agents, the Federal
Reserve Board and the Federal Reserve banks, have been able to
disguise its purpose. Let us see if they were able to clothe the
grisly skeleton of their greed with echoes of glib religiosity,
moral precepts, economic jargon, and shop-worn tags of speech,
according to the fashion set by the present administration. The
first thing that meets my eye is the title. We read :
A bill to protect the currency system of the United States,
to provide for a better use of the monetary gold stock of the
United States, and for other purposes.
It is indeed a bill to protect the present currency system of
the United States, but it is a bill to protect it from the just wrath
of United States citizens. It is a bill to save for the Federal Re-
serve Board and the Federal Reserve banks their gigantic monop-
oly of a special paper currency which they steal from the Treas-
ury and upon which they charge the people of the United States
a heavy toll of interest. It is indeed a bill to provide for a better
use of the monetary gold stock of the United States if better use
means the issuance of two sets of obligations against one piece of
security. It is indeed a bill for "other purposes," and those are
purposes which the proponents dare not mention.
Among the purposes of the gold bill not mentioned in the title
is that of pretending to take into the Treasury the gold now held
by the Federal Reserve Board and the Federal Reserve banks
and a great effort has been made to have it appear that the Fed-
eral Reserve banks are unwilling to surrender the gold they now
hold to the United States Treasury. This effort is dishonest for
two reasons. First, the Federal Reserve Board and the Federal
Reserve banks have already made a profit of some billions of dol-
lars out of the President's gold seizures and those billions were
stolen from the people of the United States ; and, second, the
transfer is fictitious. The President sought to convince Members
of Congress that the Federal Reserve banks were resisting his
efforts to have the Treasury take possession of the gold, but one
of the members of the Federal Reserve Board spoiled that argu-
ment by declaring that the Federal Reserve Board had asked the
President to have the Treasury take the gold.
You see, Mr. Chairman, under this bill the United States
Treasury has to pay for the gold. Although the gold belongs to
the people and was taken away from their bank deposits and
their cash registers and their pocketbooks in the first place and
put into the Federal Reserve banks, and although the Federal
Reserve banks tricked and fooled the people into giving it to
them for Federal Reserve currency, which they now refuse to
redeem, and although that gold does not belong to the Federal
98 LINCOLN MONEY MARTYRED
Reserve Board and the Federal Reserve banks, the United States
Treasury has to pay the Federal Reserve Board and the Federal
Reserve banks for it. Well, how does this bill propose to pay the
Federal Reserve outfit, how does this bill provide that the Gov-
ernment shall take over the stolen goods? It provides that the
United States Government shall give the Federal Reserve Board
and the Federal Reserve banks new gold certificates to the full
value of the loot. The gold certificates will give the Federal Re-
serve Board and the Federal Reserve banks legal title to the gold,
and the United States Treasury will be nothing more than its
physical custodian. The Secretary of the Treasury will give the
Federal Reserve banks gold for their new gold certificates when-
ever they ask for it. It is a fraudulent transfer.
When the individual citizens of the United States were re-
quired to surrender their gold they were required to surrender
their gold certificates as well as their gold coin and bullion. The
Federal Reserve Board and the Federal Reserve banks are pri-
vate corporations, but they did not obey the gold orders. They
did not surrender any gold coin, gold certificates, or gold bullion.
On the contrar3% the gold which was commandeered from the
people was given to them as a free gift, and now, after they have
taken into their possession all the gold belonging to the people
they are ready to make a pretended transfer of that gold to the
Government. Evidently there is law for the common man and
no law for the Federal Reserve Board and the Federal Reserve
banks. The common man must toe the mark, but the Federal
Reserve Board and the Federal Reserve banks are the agents of
the Bank of England, and the law, it seems, does not apply to
them. Many of the officials of the Federal Reserve outfit have
had charges of impeachment brought against them, but those
charges have not been investigated.
The Federal Reserve outfit now has in its possession gold coin,
gold certificates, and gold bullion. But this bill does not require
them to surrender their present holdings of gold certificates.
After this bill becomes law, if such a catastrophe should occur,
the Federal Reserve Board and the Federal Reserve banks will
still hold their present gold certificates. They may exchange
those gold certificates for gold between the time this bill becomes
law and the day the President makes his proposed devaluation
proclamation. Is not this gift of over $1,000,000,000 in gold a
great treasure to bestow upon the Federal Reserve Board and the
Federal Reserve banks — the corrupt and sinister organization
which has bankrupted the country ? Does this not make favorites
of the financial crooks who control it?
Mr. Chairman, all the gold in the possession of the Federal
Reserve Board and the Federal Reserve banks belongs to the
people of the United States. During the last 20 years, under the
vicious Federal Reserve Act, they have taken it from the people
LINCOLN MONEY MARTYRED 99
in exchange for Federal Reserve currenej" and it has not cost
them one penny. Now they come forward to make a pretended
transfer of the people's gold coin and bullion to the United States
Treasury. Not one pennj' of the gold they pretend to transfer to
the United States Treasury is owned by them ; every dollar of it
belongs to the individual citizens of the United States. The
United States Treasury is to buy it on credit and to pay for it
with new gold certificates. How does this transfer title to the
United States Treasury? Can the Congress lend itself to such
a transaction? Last May I stated that, in my opinion, the
people's gold, unjustly impounded in the Federal Reserve banks,
should be placed in the people's Treasury, but I did not state
that it should be placed there as the property of the Federal Re-
serve Board and the Federal Reserve banks, to be withdrawn by
them with gold certificates and to be made exportable from the
United States Treasury to the Bank for International Settlements
in Europe. What this bill proposes to do in connection with the
President's message suggesting that this United States gold may
be sent to Europe to be kept in the Bank for International Settle-
ments with the loot of the central banks of other countries is
one of the greatest fiscal frauds in history. It is one of the big-
gest swindles of all time.
Again. Mr. Chairman, as you very well know, the Federal
Reserve Board and the Federal Reserve banks had paper cur-
rency outstanding to the extent of about $5,000,000,000 when the
present administration came into power. That currency was re-
deemable in gold. It constituted the people's title to all the gold
held by the Federal Reserve outfit. It constituted a first and para-
mount lien on all the assets of the Federal Reserve Board and the
Federal Reserve banks. Instead of taking over the gold and the
assets of the Federal Reserve Board and the Federal Reserve
banks, including the great hoard of L^nited States wealth which
they have hidden in foreign countries, and honestly administer-
ing those assets for the benefit of the people who had been de-
frauded by the Federal Reserve Board and the Federal Reserve
banks, the President of the United States unlawfully relieved
the Federal Reserve Board and the Federal Reserve banks from
their legal liability to redeem their Federal Reserve currency in
gold, or in lawful money convertible into gold, and from the sur-
render of all their assets. Every dollar that was unlawfully taken
from the people of the United States by Roosevelt's gold order
was given to the Federal Reserve Board and the Federal Reserve
banks in preparation for this great steal, this wholesale robbery
of the masses for the benefit of the privileged few. And now that
American citizens have lost their gold, an entirely fictitious trans-
fer has been arranged to deceive the people. Mr. Chairman, the
President may underrate the mental capacity of the American
people as much as he likes, but I venture to say there is no man
100 LINCOLN MONEY MARTYRED
in the United States so dumb that he cannot understand how this
bill tricks and deceives him.
The Federal Reserve Board and the Federal Reserve banks
have profited to the extent of $5,000,000,000 or more by being
released from their obligation to redeem their oustanding
$5,000,000,000 of paper Federal Reserve currency in gold. They
have profited by having had over a billion dollars in gold certifi-
cates saved to them. They have profited during the last 20 years
by the criminality of the Federal Reserve Board, which never
charged them one penny in interest on the great mass of Federal
Reserve currency they have taken from the Government. They
have profited from their own wrongdoing by the unlawful crea-
tion of fictitious claims against the United States Government
and the giving of those claims to foreigners, and they have
profited by their control of all the public revenues. And now
they come forward with a scheme to sell the gold they have taken
from the American people to the Treasury for new gold certifi-
cates which will give them a legal title to that gold and permit
them to do as they please with it. An era of corruption is cul-
minating in one of the greatest crimes that has ever been perpe-
trated against the people. Mark my words,, Mr. Chairman, there
will be trouble here if this bill becomes law.
Why, Mr. Chairman, this fiscal fraud, this crime is so stupen-
dous that the instigators and manipulators of it did not dare to
have all the transactions performed by one man. Each man did
his part and then got out of Washington pretending that he dis-
agreed with the President's money policy or pretending that he
was ill. William H. Woodin, who sat beside Albert H. Wiggin
on the board of the Federal Reserve Bank of New York and
who acquiesced in and helped to perpetrate the financial mis-
deeds which bankrupted the country, is now hiding in a western
sanitarium. Dr. Sprague, the tool of the international bankers
and an employee of the Bank of England, was, in my opinion,
put into the Treasury to resign at a certain time and to create
uncertainty in the minds of the people by the manner of his go-
ing and his subsequent articles pleading for sound money. Mr.
Chairman, all the bickering and the resignations and the artful
propaganda that has been thrown around the monetary policy of
Franklin D. Roosevelt cannot disguise the fact that he was se-
lected by the international bankers to carry on the work they
started with the great depression ; that is, the pauperization of
the masses and the seizure of American property for their own
use and benefit, and that he has lent himself to their schemes by
unconstitutionally demanding and assuming the dictatorial pow-
ers which will enable him to carry them out.
Another purpose of this bill not mentioned in the title is the
transference of a very large quantity of United States gold to
the Bank for International Settlements. One of the chief objects
LINCOLN MONEY MARTYRED 101
of the gold policy of the present administration is the sending of
gold taken by force from its lawful American owners to the Bank
for International Settlements in Europe, where it will be kept
with the property of the central banks of the world. According
to the Hague convention, under which the Bank of International
Settlements was formed, gold deposited in the vaults of the Bank
for International Settlements is safe from seizure. Our gold, when
it goes there, will certainly be safe from seizure by the United
States. The Bank for International Settlements is dominated by
the Bank of England. It is not on American soil. It is in Europe.
American gold, therefore, will be kept in Europe. It will be
placed where none of the wage slaves of the United States will
ever be able to acquire any of it. It will be the capital and means
of oppression of that international superstate, that financial
superstate, which has been after Uncle Sam's gold money ever
since the wealth of this country attracted the attention of greedy
European bankers and brought them flocking over here to set up
the suction pumps of the Federal Reserve Board and the Federal
The Bank for International Settlements is an international
bankers' bank. It is a central bank of central banks. The interna-
tional bankers, who brought about the depression, have been
drawing gold to themselves from the common people of every
land. It is their intention to use that gold for their own purposes.
They propose two kinds of money. Gold — the real money — is
what they intend to have for themselves, and paper money, which
has no intrinsic value in itself, and which is made out of nothing
and is worth nothing unless it can be redeemed by the holder in
gold — that is for the common people, or, as they call us, the
Franklin D. Roosevelt, the high priest of repudiation, the
apostle of irredeemable paper money, and the man who intends
to send United States gold out of the United States to a place
where no American citizen can claim it, this Franklin D. Roose-
velt characterizes all those who do not agree with his monetary
policy as mules. If that is true, what an awful mule President
Woodrow Wilson must have been. Concerning Andrew Jackson,
Wilson said :
"He had no idea of allowing the country to undertake the
fatal experiment of an irredeemable paper currency."
This is the fatal experiment Franklin D. Roosevelt has under-
taken. This is a part of his policy of "bold experimentation."
Not long ago he told the people at Savannah that George Wash-
ington, like himself, was an experimenter. Mr. Chairman, there
are no points of resemblance between George Washington and
Franklin D. Roosevelt, experimental or otherwise. George Wash-
ington did not take orders from money changers. He did not rob
the people of their gold. George Washington abhorred dishonor
102 LINCOLN MONEY MARTYRED
in all its forms. He would have died before he would have violat-
ed his oath of office or tampered with the Constitution of the
United States in the manner of Franklin D. Roosevelt. * * *
Now, Mr. Chairman, let us hear the true purpose of the
$2,000,000,000 fund which this bill proposes to set up. I quote
from the prophecies of Henry Morgenthau, Mr. Baruch's Secre-
tary of the United States Treasury, as shown by the following
article which appeared in the Washington Times of January 16,
"Treasury Sees United States Need of Blue Chips
"When you play poker you want just as many blue chips
as the other fellow.
"That, in a man's language, was the gist of Secretary Mor-
genthau 's summing up of the Roosevelt proposal for a $2,000,-
000,000 stabilization fund to protect the currency of the United
"In other words, the American Government is engaged in
probably the greatest gamble of all time. The stake is the
credit of the United States.
"To Equal British
"When asked why a figure of 2,000 millions for the stabil-
ization fund had been asked, Morgenthau said :
' ' ' We figured we might need an amount substantially equal
to the British stabilization fund.
" 'If we are going to play, we must have as many chips as
the other fellow.
" 'We want every piece of machinery the other countries
have. We want to be in a position to buy gold and to sell gold. '
"The 2,000-million stabilization fund will be derived from
the Government's profit on the debasing of the value of the
dollar to from 50 to 60 percent of the normal valuation.
"Fund From Profits
' ' If the debasement is 50 per cent, the profit to the Govern-
ment will be $4,000,000,000 in round numbers. A 60-cent dollar
will mean about 2,666 millions in profits.
"Out of these profits will come the stabilization fund to be
administered by the Secretary of the Treasury, the remainder
being available for any Government expenditure. Morgenthau
" 'It is possible that the mere existence of the fund will be
sufficient to carry out the law which requires that the Secretary
of the Treasury maintain all lawful money of the Government
on parity with gold.'
"The Secretary of the Treasury is charged with the re-
sponsibility of administration of the fund to carry out that
purpose. If any particular type of currency issued — United
States notes, for instance — should become depreciated in value,
LINCOLN MONEY MARTYRED 103
the Treasury would go into the market and buy a sufficient
quantity of that currency to maintain its parity. Operations in
the foreign markets to protect possible depreciation of the
dollar would be similar."
Let this quotation from Morgenthau go down into history.
Long from now some curious investigator of the present age of
witchcraft and magic in the "White House may unearth it and
reconstruct the financial history of the "new deal" from it, as
science from a single part reconstructs the entire animal.
Mr. Chairman, it is not the gambler's voice in Mr. Morgen-
thau 's confession which most deserves political attention. We are
becoming accustomed here to gambling terms as they are em-
ployed by the executive branch of the Government, and we can
well understand that the Executive and his favorites must of
necessity speak the lingo of their kind. This is a gambler's ad-
ministration, and all the "big shot" gamblers are here to revel in
it. Mr. Roosevelt does not deny his gambling propensities. He is
a "new dealer." He is "on his way," but he "doesn't know
where he is going." He is for a policy of "bold experimentation,"
just as Samuel InsuU was for a policy of bold experimentation.
He has not been Ben Smith's patron all these years for nothing.
But, Mr. Chairman, there is something apart from the vice of
gambling to be observed in Mr. Morgenthau 's utterance, and that
is its entire untruthfulness. He would have us believe that the
United States is on one side of the fence and Great Britain on the
other. That, of course, is not the case. The United States has been
placed in a position of financial servitude to Great Britain, and
Mr. Morgenthau 's loud-sounding propaganda is designed to con-
ceal that fact from the people. Great pains have been taken to
conceal it. It would be very damaging to this administration if
certain people in the United States should find out about the
great sums of United States money which have been sent to
England during the past summer. Those funds were appropriated
by the Congress for the people of the United States.
Mr, Chairman, why should tax money paid by American citi-
zens be sent to London? When England makes her periodical
gesture of insult toward the United States by paying a small
installment on the war debt she owes us, she pays us in debased
coins, in "token" coins, to be exact. But when Mr, Roosevelt
sends American money to England he sends it in gold or its
equivalent. When Mr. Morgenthau obtains his "kitty," for this,
I have been told, is what he called the proposed stabilization
fund at the White House a week ago last Sunday evening, Ameri-
can funds will be fed to Europe more expeditiously and with less
secrecy than such operations now require. If Congress puts the
people's property into a "kitty," someone, if he cannot be the
knight of the bedchamber, can at least pose before royalty as the
knight of the "kitty."
104 LINCOLN MONEY MARTYRED
Mr. Chairman, understanding that Henry Morgenthau is re-
lated by marriage to Herbert Lehman, Jewish Governor of the
State of New York, and is related by marriage or otherwise to
the Seligmans, of the international Jewish firm of J. & W. Selig,
man, who were publicly shown before a Senate committee of in-
vestigation to have offered a bribe to a foreign government ; and
to the Lewissohns, a firm of Jewish international bankers ; and
to the Warburgs, whose operations through Kuhn, Loeb & Co.,
the International Acceptance Bank, and the Bank of Manhattan
Co. and other foreign and domestic institutions under their con-
trol, have drained billions of dollars out of the United States
Treasury and the bank deposits belonging to United States citi-
zens ; and to the Strauses, proprietors of R. H. Macy & Co., of
New York, which is an outlet for foreign goods dumped upon
this country at the expense of the United States Government,
which is compelled to issue paper money on the said foreign goods
of the Strauses ; and that Mr. Morgenthau is likewise related or
otherwise connected with various other members of the Jewish
banking community of New York and London, Amsterdam, and
other foreign financial centers, and that he has as his assistant,
presiding over public funds, Earle Bailie, a member of the firm
of J. & W. Seligman, bribe givers as aforesaid, it seems to me
that Henry Morgenthau 's presence in the United States Treasury
and the request that Congress now give him a $2,000,000,000
"kitty" of the people's money for gambling purposes is a strik-
ing confirmation of the statement made by me on the floor of the
House on May 29, 1933, which statement was as follows :
"* * * Now, Mr. Chairman, we have come to the place
where we must decide whether we shall serve God or Mammon.
Shall we nullify the Constitution at the behest of the money
changers who have unlawfully taken all our gold and lawful
money into their own possession or shall we take a stand here
in defense of the faith of our fathers? Mr. Chairman, my mind
is made up. I will stand by the Constitution. If I should fail to
do so, I should expect to be met at the train when I go home
to my district by a delegation of honest Pennsylvania citizens
with 50 or 100 feet of rope. I should expect to be escorted to
the nearest tree to be taught what it means to vote for a nulli-
fication of the Constitution in the House of Representatives.
"Mr. Chairman, the provisions of this repudiation bill were
foretold by a writer in the Dearborn Independent some years
ago. There is, therefore, nothing novel or original about them.
The writer of the article in the Dearborn Independent made
the following quotation prophesying some of the measures
which have been introduced here by the President of the
United States :
" ' (2) Confiscation of money in order to regulate its circu-
LINCOLN MONEY MARTYRED 105
" ' (3) We must introduce a unit of exchange based on the
value of labor units, regardless of whether paper or wood is
used as the medium. We will issue money to meet the normal
demands of every subject, adding a total sum for every birth
and decreasing the total amount for every death.
" ' (4) Commercial paper will be bought by the Government,
which * * * will grant loans on a business basis. A measure of
this character will prevent the stagnation of money, parasitism,
and laziness, qualities which were useful to us as long as the
Gentiles maintained their independence, but which are not
desirable to us when our kingdom comes.
'' * (5) We will replace stock exchanges by great Govern-
ment credit institutions, whose functions will be to tax trade
paper according to Government regulations. These institutions
will be in such a position that they may market or buy as
many as half a billion industrial shares a day. Thus all in-
dustrial undertakings will become dependent on us. You may
well imagine what power that will give us.
" ' "Remember that when next you hear the Jewish plan
that 'Gentiles' shall do business with their own bits of paper,
while Jews keep the gold reserve safely in their own hands. K
the crash comes, 'Gentiles' have the paper and the Jews have
the gold. Says protocol XXII : We hold in our hands the great-
est modern power — gold; in 2 days we could free it from our
treasuries in any desired quantities." '
" 'The Jews are economists, esoteric and exoteric: They
have one system to tangle up the "Gentile," another which
they hope to install when "Gentile" stupidity has bankrupted
the world. The Jews are economists. Note the number of them
who teach economics in the State universities. Says protocol
" ' "We will surround our Government with a whole world
of economists. It is for this reason that the science of economics
is the chief subject of instruction taught by the Jews." '
"Mr. Chairman, have not most of these predictions come to
pass? Is it not true that, in the United States today, the 'Gen-
tiles' have the slips of paper while the Jews have the gold and
lawful money ? And is not this repudiation bill, a bill specifical-
ly designed and written by the Jewish international money
changers themselves, in order to perpetuate their power? What
else do you make of it, Mr. Chairman? Does it not cancel the
war debts? Does it not defraud the holders of Liberty bonds
and every other obligation calling for the payment of money?
Does it not defraud the veterans of the World War and take
the value out of their adjusted-compensation certificates?"
Mr. Chairman, do you not see in this "kitty" bill the identical
features outlined in the Protocols of Zion? Do you not see the
Protocols of Zion manifested in the appointment of Henry Mor-
106 LINCOLN MONEY MAHTYRED
genthau as Secretary of the Treasury ? It is not by accident, is it,
that a representative and a relative of the money Jews of Wall
Street and foreign parts has been so elevated?
Why, Mr. Chairman, this "kitty" bill takes the hitherto ob-
scure young Henry Morgenthau and makes of him a central bank
of the United States. It makes of him a central bank, an institu-
tion which Jefferson declared is one of deadly hostility to the
free institutions of the United States. It exalts him above all
other men. Under the powers to be granted him, his conduct is
not subject to review or control by any other officer of the United
States Government, not even the President.
What this "kitty" bill really does is to slide into the hands of
Henry Morgenthau the emergency powers which Congress grant-
ed to the President. Those powers will not lapse. Instead, they
are being slyly and dishonestly transferred to the bankers and
after the bankers, in the person of Henry Morgenthau, have ex-
ercised them long enough to get the gold of the United States
into their exclusive possession and to transfer it to their den of
thieves, the Bank for International Settlements, Congress may
take back its constitutional power over the currency, but it will
have nothing left to exercise it on. The monetary gold of the
people of the United States will, like the sons of the people, be
buried in a foreign field.
Mr. Chairman, if you, as one of the party in power, are think-
ing of remaking the world so that the old America we knew and
loved is to be no more ; if you are one of those who is counte-
nancing the placing of this country under the British Crown and
the pooling of all American resources with those of England and
Soviet Russia ; if you are one of those to whom a title of nobility
appears to be more desirable than plain citizenship in the Re-
public founded by George Washington, I trust that you will some
day descend from the Speaker's chair and let us know the rea-
sons for your preference. If, on the other hand, you are not what
these words depict, I trust that you will come down to the floor
and tell us how constitutional government is to be maintained in
this country if the plutocratic managers of the Democratic Party
continue their efforts to destroy it. You, if anyone, should be able
to give the people of the United States an answer to this question.
Under this administration the result of the American Revolu-
tion has been reversed. The United States has become an eco-
nomic vassal of Great Britain. The once proud Republic of the
United States with its great charter of human freedom, the
Declaration of Independence, and its written Constitution, which
had kept it free and independent for over 140 years, and its flag,
first made by the hands of Betsy Ross in Philadelphia, and its
national anthem, born within earshot of the British guns that
shelled Fort McHenry — all these, like the American dollar, were
brought down from their high estate.
LINCOLN MONEY MARTYRED 107
"Oh, say, can you see by the dawn's early light
What so proudly we hailed at the twilight's last
"Mr. Chairman, you know very well that you cannot see that
flag there as it used to be. Others started very cautiously to pull
it down. But it was Franklin D. Roosevelt, in his unlawful and
unconstitutional assumption of dictatorial powers, who finally
lowered it and tore it from its standard."
Now that the "Gold Bill" is explained and the reader knows
why he "turned in" his gold, and what became of it, what about
that "Soldiers' Bonus" we used to hear so much about? Have
our Congressmen forgotten the "boys" that "made the world
safe for democracy," or was it safe for the Money Changers?
We, as a nation, are pledged by law to pay them their "bonus"
or "compensation" certificates in 1945, and they surely need it
now if they ever will ! Will the reader please remember how
President Lincoln issued sixty million dollars in Full Legal Ten-
der "Greenbacks" and paid his soldiers!
Would the reader like some real authority on this subject?
Then listen to Robert H. Hemphill, financial authority and edi-
torial writer on financial matters in the Hearst papers and a
really profound student on such matters. Writing in the Hearst
papers of March 17, 1934, Mr. Hemphill has the following to say :
"During the month of February, 1934, we imported $371,
347,100 in gold.
"We paid for it with 'fiat' money. Treasury notes of the
United States; 'printing press money'; 'paper money'; 'green-
backs ' ; irredeemable in gold, silver or any specific metal ; law-
ful money of the United States — 'fiat' money in every sense
of the word.
"We have now no other kind of currency.
"It is the best money in the world.
"Despite the unlimited quantity offered in exchange for
gold, and the threat inherent in our huge secret stabilization
fund, it has been so far almost impossible to prevent our 'fiat'
money from commanding a constant premium over its theo-
retical par in exchange for the most prized possession of Euro-
pean Nations — their gold.
"It is very important to remember this.
"We are rapidly approaching a situation where the gov-
ernment MUST issue additional currency.
"It will very soon be the only move remaining.
"IT SHOULD HAVE BEEN THE FIRST STEP IN THE
108 LINCOLN MONEY MARTYRED
"Immediately upon a revival of the demand that the gov-
ernment increase the supply of currency, we shall again be
subjected to a barrage of skillfully designed and cunningly
circulated propaganda by means of which a small group of
international bankers have been able, for two centuries to
frighten the peoples of the civilized world against issuing their
own good money in sufficient quantities to carry on their neces-
"By this simple, crude, but amazingly successful device
these 'money changers' — parasites in a busy world intent on
creating and exchanging wealth — have been able to preserve
for their private and exclusive right the monopoly of manu-
facturing an inferior substitute for money which they have
hypnotized civilized nations into using, because of their press-
ing need to exchange goods and services.
"We shall never recover on credit. Even if it were obtain-
able, it is uncertain, unreliable, does not expand in accordance
with demand, and contracts unexpectedly and for causes un-
related to the needs of commerce and industry.
"Demand deposits cannot be loaned to commerce and in-
"Many bankers have known this for a long time.
"It required this depression and the complete freezing of
the whole banking system to teach the rest, but with a very
few exceptions, they have all learned.
"I am convinced that the NRA experiment is running into
a jam. It has developed into a wholly different doctrine than
the original conception.
"Having failed to stimulate recovery, the present idea is
to distribute nonexistent profits from one group to another.
"Under any system of reasoning, the purchasing power,
however, will remain the same.
"Instead of providing for expansion, which means the
creation and exchange of more wealth, its underlying philoso-
phy is the creation and exchange of less wealth.
"It is difficult to believe adult human beings at any stages
in the development of civilization could be led into serious
consideration of a system founded on such an absurd doctrine.
"We need in circulation $250.00 per capita in permanent
uncontractible currency, deposited in depositaries and payable
on demand, to sustain the standard of living to which we had
arrived in 1927-29, to pay the then prevailing prices, wages
and costs ; to produce incomes and restore the property values
of that period.
' ' It makes no difference how this currency is put into circu-
lation. We are all producers and we are likewise all consum-
ers ; each one of us buys from all of the others.
LINCOLN MONEY MARTYRED 109
"If one thousand million of new currency is thrown into
circulation anj^where in the system, it becomes almost imme-
diately distributed throughout the nation.
"It increases the transactions of the nation an average of
36,000 millions per year, and because we all buy the same
things in the same order of preference, our business increases
in the normal manner, first the necessities of life, next the
necessary luxuries, and lastly capital goods.
"We are all so anxious to produce and trade our products,
our goods and our services, with our neighbors, that we will
accept almost any kind of money which we have a fair chance
of passing on for the things we want.
"In our present situation the issue of additional currency
is the only way out. ' '
Is there any good reason that Congress cannot or should not
do this now? — or pass a bill to "remonetize" silver? Is there any
reason why that should not be done either?
Yes, dear reader, there is, and that reason is — "The control
of our whole country by the Foreign Money Changers through
the Federal Reserve System of Banks, that have the power to
issue unlimited amounts of their own "greenbacks" redeemable
by our government, and to withhold loans and call loans and
inflate and deflate the currency and the country at their own
pleasure and for their own profit ! !
How long, OH GOD, WILL THE AMERICAN PEOPLE
STAND FOR SUCH A CONDITION; when all they need is a
safe, sane, reasonable plan of economic security and "United
Action" to put it into operation?
The Research Finished
Well, it was a gruesome story I had been able to dig up in
the Congressional Library and other sources, since the spring of
1933, and it was a continuous wonder to me that the rotten
crookedness and corrupting of Legislators and the extending of
the grasp of the "money changers" into our financial and busi-
ness system could have gone on year after year, and generation
after generation getting progressively worse, with a mountain of
bonded indebtedness growing higher and higher, with the chains
of national mortgage debts growing closer about the life of our
people year after year, and not to be stopped somewhere, some-
110 LINCOLN MONEY MARTYRED
I finally came to the conclusion that it was only for one fact
— our country had been so vast in extent and productiveness,
that their systems could continue to repeat until all new territory
was exhausted. As one territory was opened up and settled and,
then a few years later, through hardship, privations, and endless
toil, the people had developed their lands enough to borrow
money and mortgage them, they did so at the urge of the bankers
and the high power sales forces of the farm machinery and other
industries who were greedy to extend their own increasing busi-
Then in the course of seven to ten years, with a little hard
luck, sickness, drought, frost, hail or grasshoppers, the farmers
failed to pay their mortgages and would have them foreclosed
for half the value of the farm, and so be obliged to move on to
some other new strip of territory, to repeat the process all over
again, and their hard won farms so became "tenanted" places,
rented out by the "Money Changers" to less progressive and
less fearless farmers. The real crisis not coming, of course, until
all the productive lands had been taken up and no more expan-
sion was possible anywhere for the unfortunate victims of a
vicious and relentlessly controlled system of money manipula-
It took a great and fearless people to do this pioneer work
of our glorious past. And honest, hardworking people they were ;
Indian fighters one day and farmers the next in the earlier days,
and the later days a class that is so graphically and excellently
described in the book, "With a Lantern in Her Hand." The days
that the older people will yet remember was told of in the song
that ran something like the following:
"You can hear the hungry coyote,
As he sneaked up through the grass.
Round my little old sod shanty.
On the claim."
How heartless ! That a system could be allowed to exist that
could take homes from such people, by a managed shortness of
money, after they, by hard and fearless work, had carved them
for themselves from the wilderness.
It was true, at times there would arise a group of people who
seemed to have some idea of what was the matter, but they
mostly, like the "freesoilers" and others, and finally the "Great
Commoner," Bryan, from Nebraska, with his free silver cam-
paign in 1896-1900, never could get their programs over, but it is
easy for one to see now, that they, nearly one and all, were only
seeking to treat symptoms or effects instead of causes, never
getting clear down to the bottom and digging up the real under-
lying cause of the whole ghastly crime that had been so ruthless-
ly sapping the very life blood of our Nation ; THE POWER OF
ISSUE AND CONTROL OF THE VALUE AND VOLUME OF
LINCOLN MONEY MARTYRED 111
MONEY AND CREDIT, THE LIFE BLOOD OF OUR COUN-
TRY, TOGETHER WITH THE VICIOUS LEGALIZED USURY!
The people, of course, were being blinded, hoodwinked, and
led away from the real menace, by insidious propaganda, grow-
ing worse from year to year as the money interests extended their
control of newspapers, and also their growing control of big
With the control of business the money interests controlled
the advertising put into the newspapers. When they could not
own the paper, they could and most always would, control and
influence their editorial policy, and worst of all, prohibit any-
thing even of news value being printed that might tend to cast
reflections or doubts on their nefarious and inhuman grasp on
the money and commerce of the nation.
The saddest part of all, of course, was that our 'Legislators'
could be and were, beyond a shadow of a doubt, continually
bribed one way or another by money changers, (with money or
to get social advantages for themselves and their families), to
pass and put into effect legislation to aid and further the dia-
bolical schemes of the foreign Money Changers.
This bribery and connivance was very adroitly done, of
course, so that legal proceedure likely could not have been suc-
cessfully used against them, but there is positively no other way
than the aforementioned one of bribery and corruption of legis-
lation, in which their infamous schemes and laws could have been
As time passed and more and still more banks were opened,
these were controlled from the top of the system, and as more
large business and manufacturing concerns came into their hands,
the officers and employees of all these were forced to become
henchmen and propagandists for the Money Changers, as they
must all eat and live and have a living for their families, and
must have work to do, so with all the help, willingly or unwill-
ingly, given by their employees, the small bankers, the indus-
trialists, and newspapers, and magazines, and finally the crown-
ing glory of propaganda, the movies and radio, the Money
Changers came into their own by leaps and bounds.
The task which I had set myself — namely, to search out and
assemble facts bearing upon the continuous conspiracy to en-
slave the people everywhere through manipulation of money and
credits — was now finished. What an aggregation of villainous
acts were here recorded — seemingly in overabundance, but cer-
tainly quite sufficient to convince any intelligent citizen that our
present monetary system, and the economic wreckage caused by
it, are the composite result of all these conspiracies operating
against and damning society.
112 LINCOLN MONEY MARTYRED
The Virginia Plantation
Fatigued as I was from long research and study, I was very
happy to accept an invitation to spend a month with some dear
friends who had a few years before established themselves upon
an old Virginia plantation, within a short day's automobile
journey from Washington.
I arrived there the latter part of May, 1933, and a more beau-
tiful and ideal place in which to rest and write could not have
been found. The place was old but of fine construction, and I
was given a beautifully situated room on the ground floor, with
southern exposure, having a large French door that opened into
an exquisite garden of fruit and flowers that was certainly con-
ducive to rest and quiet I needed so badly after my strenuous
work in Washington.
My friend and his wife (they had no children) were fairly
well to do, having accumulated enough to keep them comfort-
ably, had retired there to the quiet and beautiful valley to enjoy
a few years of life, while yet young enough to enjoy it, a thing
most people neglect to do until it is too late. The farm made
them a comfortable living, and as help was very reasonable, they
did not have to overwork themselves, and were really living the
lives of the "Gentle folks of the Old South."
I had been there only a short while and had gotten my manu-
script in fair shape, but was not satisfied with it myself; it
seemed woefully incomplete and the thought occurred to me
many times, that at sometime, this whole diabolical scheme of
binding our Nation, in a mountainous debt of economic slavery,
could have been stopped and a system of some kind put into
effect, whereby our people could have gone onward and upward
in a free and happy expression of their lives, in their own indi-
vidual way, being always and at all times well able to earn a
comfortable living, educate their children, and prepare a compe-
tence for their declining years, when their earning power waned,
and be able to enjoy the sunset of life as a reward for work well
All this seemed wholly possible in a land of abundance, and
especially since our producing power had increased so tremen-
dously, and I could see no reason at all why, that the more we
produced, the poorer we got as a nation, or to put it into a more
truthful and definite phrase — the more we produced, and the
more machinery we invented to do our work for us, the deeper
into debt we went !
Even with the new environment I could not keep my mind
from returning again and again to the circumstances surrounding
the time of the "Great Emancipator" and his work and action,
LINCOLN MONEY MARTYRED 113
and especially that letter to Col. Taylor about the "Greenback"
being the "Greatest Blessing" our people had ever had bestowed
upon them. His thought upon all other matters had been so clear,
righteous, and unselfish, that he must of necessity have had far
different plans for our immediate future, than those under which
our Government was operating at the close of the war, and just
before his tragic and untimely death.
Then also a plank in the platform on which he was elected in
1864, declared for a National Currency. Just what kind of a
system could he have had in mind? Or was he willing to give
the bankers most anything they wanted if thereby he could save
Again and again my mind would ponder upon the strenuous
days and sleepless nights he spent in the early years of the war,
with the question of financing war operations ; his jubilant and
thankful letter to Col. Taylor for devising a way to relieve the
situation, then soon to have the crisis arise again ; the fight in
Congress over the "Exception Clause" in the "Greenback"
issue with its final adoption and the excuse it offered, the Money
Changers discounting and depreciating the greenback money
and destroying its purchasing power and value, under a law made
especially for the purpose, of course, then the harried and wor-
ried President being forced to accede to the establishment of the
same nefarious Bank Law that had twice before been killed and
thrown out, by his illustrious predecessors in the presidency,
Jefferson and Jackson.
Surely, being the student that he was, with his wisdom and
judgment, he must have known all that had gone on before, and
the reasons for the opposition of Jefferson and Jackson and all
the other fearless patriots of former years to such a system of
Such a student of the Constitution as he, and so shrewd, he
surely knew such a law was unconstitutional. If he had only
lived — with the war over, and with four years more in which to
do things — but he didn't live. He was killed!! Murdered!!! HE
NEVER HAD A CHANCE TO PROVE WHAT HE COULD DO I
Such was my thinking one night as I lay on my pillow, when
I dropped into a deep slumber. Sometime later I woke with a
start, the room all light, and standing beside my bed was a gentle-
man, seemingly of the old school, who bowed graciously, and
begging my pardon for the intrusion, said he understood I was
writing a book on the nation's economic situation, and that he
had some information that might prove valuable to me. If I
would allow him to do so, he would give me the information and
be on his way.
And this is the strange and amazing story revealed to me
there in the wee small hours of the night, on the Old Virginia
114 LINCOLN MONEY MARTYRED
The Stranger's Story
I reached for a note book and pencil that lay on a small table
beside my bed and bade him proceed.
"You have, of course," he began, "gone quite thoroughly into
the money question in ancient, medieval, early English and early
American, and also in our modern times, therefore, you must
have seen how the thread of control, the methods of procedure,
the schemes, and the tricks have all come down through the cen-
turies in an unbroken chain, never becoming more humane and
just toward the people, but always waxing more severe, more in-
human, and more oppressive with each succeeding generation.
"It will help you to a clearer understanding of the system
and its application if you know and remember that the same
class of predatory people have been continuously unbroken in
their line of descent, the principal Money Changers and Money
Manipulators, handing down their knowledge of money and its
pernicious and enslaving uses to each succeeding generation, to
do with, use, and improve upon the wicked, lecherous practices
of the ages ; to subject other people to their rule and to take
from them their hard earned produce of the field and factories.
"It is true, of course, there have been at times, members of
other peoples, who have learned and used some of the tricks and
practices of the real money changers, but usually in the end they
were fleeced by the others with the tricks they had not learned.
Furthermore these outsiders were not imbued with the necessity
of handing knowledge of these things down to their children,
likely preferring to lock up the fact of their use, in their own
memory, and handing down only the result, or the money and
riches, they had been able to obtain by their use.
' ' The members of the other classes who have used some of the
methods of the 'Money Changers' have increased in number in
the last few centuries, in fact, the whole civilized world has be-
come infected with the pernicious practice and in the main have
been a most helpful tool of the Money Changers, enabling them
to extend their exploiting methods into fields and circumstances
with which their type of mind could never cope and for which
they have no liking.
"These activities, of course, are in the realm of large scale
exploitation of natural resources, inventions, and manufacturing
processes. People like Rockefeller, Lipton, Harriman, Marshall
Field, and hundreds of others, have been allowed to become very
rich and powerful in order to produce these vast riches, to be in
turn manipulated by the 'money changers,' either in ways of
commerce or in the manipulation of their stocks and bonds, which
has grown to be one of the large 'rackets' of our day.
LINCOLN MONEY MARTYRED 115
"Then again, in this way the 'Money Changer' can stay in the
background and escape having the abuse and cry of 'tainted
money' attached to him, and as he says of himself in much of his
literature, 'work behind the scenes.' These people are also very
adept at working 'behind the scenes' as official 'advisors' or even
'unofficial advisors' of governmental officials in key positions,
where their advice would accomplish their own ends without re-
sponsibility for the consequences being laid on them if afterwards
"Many of these 'advisors' are being used today in our gov-
ernment, in fact, more than in any other period of our National
existence, which may have some bearing on the condition of chaos
and depression in which we find ourselves today.
"So, you will see, there are many angles to our complicated
stage of civilization from which the 'Money Changer' can work
his nefarious schemes. Whereas in centuries gone by he had only
the one graft — loaning money at usury, now his various forms
of manipulation have so covered up and obstructed the view of
the common people that his schemes can be and are worked al-
most unknown and unseen, and when found out, the blame gen-
erally can be, and is, placed upon entirely different people.
"These many and varied schemes, of course, work out so as
to cause depression and deflation periods, to come with ever in-
creasing frequency and seriousness.
"You are also aware that the headquarters for all the money
and credit manipulation of the world is located in England,
France, Germany and Switzerland ! Orders for the world activity
originate and are correlated there. Comparatively few men are
involved in this 'Inner Circle' of personage who plan to rule or
ruin the world."
"It may be well to mention that some students of the Bible say
that "Bible Prophecy" says that these people just mentioned,
will actually overcome and rule the world for a time, and rule
with utmost severity, God using them as a rod or means of chas-
tisement of the other people of the earth, for their transgression
of His laws and for forsaking His work, but afterward they are
to be practically wiped off the face of the earth, by the perse-
cuted and down-trodden people. For we must remember that God
carries on His work pertaining to man through man's thought,
words, and actions, and it may well be true that anyone having
a continuous inner urge to do things for the benefit of humanity
is receiving his "urgings" from the "Place of the Most High"
and that he should be about his work and carry it out to the very
best of his ability, as the light is given him to do so."
I was awed and amazed by this strange but pleasant person;
he seemed to have a poise and ease of expression, and a deeper
knowledge and understanding than it had ever been my pleasure
to contact before, and I gave him my undivided attention in order
116 LINCOLN MONEY MARTYRED
that I might transcribe his every word. His very being forbade
any doubt of his slightest utterance or conclusion.
"To get on with my story," continued the stranger, "thirty
years previous to the Civil War, there lived not far from where
we are now, a man, his wife, and one child, by the name of
Andrews. Their ancestors were of the early emigration from Scot-
land and northern Ireland, and like many others, these ancestors
had, by fearless work and hardship, carved them a home out of
the wilderness, and in time had become a respected family of land
and slave owners, on their extensive plantation.
"You are likely questioning now, their ideals and actions re-
garding slaves, but you must remember that in the South slave
owning was deemed by the 'best people' perfectly right and
proper, and one of the objectives toward which the average white
man strove to attain. Many white men believed that if they own-
ed a negro, kept him well, let him raise his family and live in
more or less freedom from responsibility, such a negro was much
better off than he would have been in a state of barbarism,
the precarious existence from which he had been taken in Africa.
There are still some white people who think the same today.
"This child of Andrews," he resumed, "was brought up a
'gentleman of the Old South,' in every way; his parents being
wealthy and he an only child. He was given every advantage and
perhaps some that he would have been better off without. He was
given a good education and spent a term in a military school,
and as was the custom of many people of his class in the South,
he was sent to England to finish his education and to absorb the
manners of the 'gentleman.'
"The youngster, being a good looking chap of excellent bear-
ing and agreeable personality, with plenty of money, became
very popular with a certain class in England, and was quite at
home there. The clubs, as well as the drawing rooms, saw much
of him, so milch so that he was fast becoming weaned away from
the land of his fathers, and took on the habits and customs of the
'leisure' class of England.
"His graduation time having arrived, he urged his parents to
make the trip over from the States to be present at the event,
which they did. Naturally, they were very proud and happy to
see their youngster grown into such a 'perfect gentleman.'
"This meeting with their son was destined to be their last,
however, for the ship on which they sailed for home was lost,
far out in the Atlantic, with all on board. Thus, left with no
relatives, the young man had less desire than ever to return to
his native country.
"There was a chapter in his life just before he went to Eng-
land that may have had not a little to do with his going there.
A love affair with a fickle young lady of Richmond, where he
attended school, who 'threw him over' for a more dashing and
LINCOLN MONEY MAKTYRED 117
richer chap. This experience strangely soured him on his native
country (but its remembrance had tended to keep him single) and
he came to look upon the old plantation as just a source of income
to keep him in luxury without work or worry on his part, as his
father had obtained the services of a very able superintendent
to oversee the plantation.
"Then came the Civil War, when all 'good men and true'
were supposed to come to the aid of their country. As before
mentioned, 3'oung Andrews' idea of 'his country' was a place to
keep him in plenty of money, but he was much concerned over
the possibility of the slaves being freed and thus losing his in-
come. Naturally his sympathies were with the South.
"The call to the Confederate colors of all who had received
training in the military schools of the South caused young An-
drews to return to Virginia, and so urgent was the need for offi-
cers that he was at once made a colonel and put to training
"It was not many months, however, before he was at the
front in the thick of the fighting, and it was his misfortune in one
of the earlier major engagements, to be severely wounded by
shell fire and which necessitated his being taken to the hospital
"He was much more severely injured than at first thought,
and doomed to spend many wearj^ months in the hospital, more
or less neglected, as he had few friends there now, and all of
them had many friends and their families' wounded to care for,
and if killed to grieve for. So when time came for him to leave the
hospital, knowing that he was so crippled that it would take years
to fully recover, he returned to England, where he could at least
be away from the strife and immediate worry, never dreaming
the war would be lost by the South.
"He had been so disfigured by a scar across his face, and be-
ing somewhat sensitive about seeing his old friends, he located
in the south of England at a seaside village where he could have
care and comforts at moderate cost. Even then he was beginning
to feel the pinch of the privation of war, as he had tried to do
his part as had all like him, having bought Southern Confederacy
bonds and so having much of his money tied up.
"His recovery being slow, he came to brooding over his con-
dition, and to in some way blame the Northern States for it,
and particularly the head of the government of the North, Abra-
ham Lincoln, as all the papers he read were bemeaning him as a
'nigger lover' and a man who would free the slaves if he could,
and, of course, that act alone would practically ruin young
Andrews, for he felt his fortune and future existence was based
upon the 'slaves' he owned.
"He came to feel that if Lincoln could be put out of the way
the North and South could be induced to go their separate ways,
and his slaves and property would be saved.
118 LINCOLN MONEY MARTYRED
"I see," the stranger observed, "that you are thinking what
a very selfish view he was taking, but you must remember that
most all human beings look at conditions or circumstances from
their own selfish viewpoint, and I hope you will take into con-
sideration the facts of the boy's rearing and early training, and
his experience and state of health, for all these had a great deal
to do with his mental attitude at that time.
"I will tell you now, however, that he was to live to repent,
both his attitude and action, and, before he passed on, to come
to understand the innermost life of the 'Great Emancipator' and
to learn to love and revere his memory above all others.
"The final months of the war brought increased anxiety and
diminishing income to young Andrews. Even his own plantation
was the battleground of a major engagement and most of his
crops and buildings were destroyed, and his slaves scattered to
the four winds.
"He received this news with sickening heart, particularly as
his supply of money was running low. He therefore decided to
return to the States to see what could be done, going to London
at once to arrange for transportation.
"There he chanced to meet a man he had known while in
London attending school. This man's name was Rothberg. He
was related to, and connected with one of the great bankers of
England, or, as they are sometimes called, one of the 'Real Money
Changers.' This chance meeting was to culminate in one of the
great sorrows of young Andrews' life.
"He mentioned his forthcoming trip to Rothberg, and in turn
was told that he, Rothberg, was leaving on the next boat also,
but was going to Canada. Rothberg was soon able to convince
Andrews that he had better go to Canada also and conduct his
investigation from there, as it looked very much like the South
would lose the war and it might not be too 'healthy' for an
officer of the Southern Army to be around when the war ended.
It was soon agreed that they would go to Canada on the same
boat, they were even able to get a stateroom together, and were
soon out on the briny deep.
"Their conversation soon turned to America and the condi-
tion there, and Rothberg was more than delighted to hear young
Andrews' view of the situation, and especially to know his atti-
tude toward Lincoln. He sided in with Andrews at once and en-
larged upon the desirability of removing Lincoln from the direc-
tion of affairs, and what a good thing it would be for the South
and for Andrews in particular.
"Their voyage was in the early fall of 1864, and the second
day out their ship ran into a violent storm. Andrews was not
concerned as he was a good sailor, having crossed a number of
times. But it was the first experience of Rothberg, who became
violently ill, and as is usual with men of his type, he took it very
seriously and was afraid he was going to die.
LINCOLN MONEY MARTYRED 119
"The storm continued in its fury and Rothberg became dan-
gerously ill and his life was despaired of. But for the efficient
and careful nursing of Andrews he probably would have passed
on, with a great deal less to answer for in the last accounting
than he had when he did pass on.
"The mad sea had temporarily taken the self-sufficiency out
of Rothberg. Even though he was better physically, his iron will
had lost its temper. He was afraid — fearful he might not live to
carry out his mission. His mission ! Ah, that was more than life
to him. So, summoning Andrews and pledging him to secrecy,
Rothberg revealed the nature of his stupendous undertaking.
Would Andrews take his place — in case . . . and fulfill the mis-
sion ? He handed him an order for gold on the Bank of Montreal,
for his personal use, and in his other hand was another cheek
for a fortune — payable when the mission should be accomplished.
Andrews was stunned by the unexpected outpouring of money
into his lap — for doing a thing which he was assured would at
the same time be to his own personal interest, but Rothberg
assured him that money was no object at all to his people, and
that they had quite sufficient money to take care of any under-
taking they felt was to their advantage.
"Rothberg disclosed to Andrews that his relatives and their
associates had come to the conclusion that Lincoln was not the
right man to have in the White House, that he would not listen
to 'reason' and could not be depended upon to do the 'right
thing' by the moneyed interests, that he did not intend to keep
the States on a 'Sound Money Basis' and was therefore undesir-
able and a menace to them as well as the Southern Confederacy,
and that his relatives were prepared to spend any amount of
money needed to accomplish his removal.
' ' He also disclosed to Andrews that it was his mission to go to
Canada and from there contact someone in the States who could
kidnap Lincoln, and turn him over to the Southern Confederacy,
to be held to bargain with for the best terms obtainable for the
South. Rothberg claimed his relatives had influence with officials
of the Southern Confederacy, and that they would see to it that
it would be put into the bargain for Lincoln's safe return, that
he would be supplanted with a person more to their liking and
more 'safe' on the money question.
"Rothberg explained to Andrews that the 'Aristocrats' in the
world must rule by the control of money, and, of course, he in-
cluded Andrews in that class, and appealed to the selfish side of
Andrews' nature to gain his support and help. He further ex-
plained that the control of money must be made sure for the
moneyed men, and that they were to get, and keep, this control
the world over, by the same scheme they had used when the Bank
of England had been established, namely, the power to 'issue'
paper money as a privilege of buying Government bonds and
depositing them with the government, and later to use 'bank
120 LINCOLN MONEY MARTYRED
credit' instead of money, because they could issue or withhold
'credit' at their own pleasure, thereby being able absolutely to
control the money or 'circulating medium' of exchange of th«
world ; also, by being able to vary the ' quantity ' of ' circulating
medium' they could raise or lower prices of commodities at their
will and really control the destiny of any and all countries.
"He told Andrews his people had 'managed' the passage of
the National Bank Law in the States in 1863. Lincoln, he said,
had not been in favor of it, because he had been able to see that a
government could finance itself, by issuing full legal tender
greenbacks, as he had done for a while, until his (Rothberg's)
people had been able to 'persuade' certain congressmen and
senators that the 'exception clause' should be written into the
bill for the next issue of greenbacks.
"This, of course, they had caused to be done, to give their
banks an excuse for discounting them, and discrediting such
money, and making it worthless, and which had given them a
better chance to get their own plan adopted, which they had ac-
"He added, however, that Lincoln was to them a rather 'un-
known quality'; that he could not be 'dealt with,' would not
listen to 'reason,' and was silly enough to think that the common
people should have a voice in all things, and was therefore a very
dangerous man, from the viewpoint of the 'Aristocrats' of both
England and America, among which, of course, he included
Andrews and himself. So Lincoln must be gotten out of the way
at the earliest possible moment.
"Lincoln, he said, was very popular with the people, there-
fore if he should decide to do anything about the money question,
such as repealing the national bank law, which the Money Chang-
ers, and relatives of Rothberg, had forced upon Lincoln in the
crisis of the war, when he couldn't help himself, or, if he should
start issuing greenbacks of full legal tender again, his power
might be too strong for Rothberg's relatives to overcome in the
American Congress, as they had been able to do before.
"Lincoln, therefore, must be removed as quickly as possible,
before he could attempt anything, in order that no suspicion
would be attached to the Money Changers, or banking interests ;
as would be the case if anything happened to Lincoln during the
controversy over money.
"All this was quite confusing to Andrews, as he knew very
little about money, — only that his people had always furnished
him all he required, and he believed he was entitled to it in some
way, by being the son of a slave and plantation owner. So he was
easily convinced that this might all be true.
"At any rate he figured that if they could once get Lincoln
over the Potomac River to the Confederate lines, his plantation
and slaves might yet be restored to him, and that was his big
LINCOLN MONEY MARTYRED 121
"Andrews was very short of funds, and as the scheme seemed
to fit in with his way of thinking, he was soon prevailed upon
to accept the order for the gold. With the sharing of his burden
of conspiracy with another, Rothberg fell off into a deep sleep,
to awake next day much refreshed.
"The storm subsided somewhat and Rothberg continued to
improve and by the time they reached Canada, he was able to be
up and around, but still he seemed pleased to have such an able
assistant, even if he had given him a great deal of money. What
were a few hundred thousand pounds to his people who had mil-
lions, and anyway, wouldn't it be returned many thousand fold
in the years to come, when his mission was fulfilled."
"It is very sad to relate," observed my strange visitor, "it
has been returned to them many million fold and still is operat-
ing more powerfully than ever at this time. But who can tell,
perhaps this bit of information I am able to give you, may help
in arousing the countrymen of the Great Lincoln to a realization
of the cause of their distress and enslavement and inspire them
to action to remove the cause.
"I sincerely trust that such will be the case. After all is said
and done, when real Americans know the truth, they can be de-
pended upon to right their wrongs, and woe unto those re-
sponsible for their suffering and losses.
"Rothberg and Andrews had no sooner located themselves
comfortably in Montreal," continued the stranger, "when An-
drews began to look about for possible acquaintances from the
States, and was soon able to find a number of officers of the Con-
federacy, who were there, on one errand or another, as much of
the business and conspiracy of the Confederation was carried on
"He soon discovered that there was a sentiment favorable to
his plan among certain people in the Northern States, and that
they could be controlled if one had the 'wherewith' to do so.
"This 'wherewith' was no object to Rothberg, and soon ave-
nues of approach were opening up and information coming in
from the States.
"By now, however, another election had been held and Lin-
coln had been returned to the Presidency by a large majority,
and was fast becoming a national hero to the North. Lincoln was
letting it be known also that he was a friend of the South, and
in the event of their surrender, he would see to it that they were
"This was making the mission of Rothberg more difficult,
and he was getting frantic appeals and demands for action from
his relatives, together with new grants of gold and a free hand
to dispense it. Rothberg now had a number of people employed
getting newspaper and other information from both the Southern
and Northern States. He was thus able to keep informed of events
and make his plans and actions fit in with the prevailing condi-
122 LINCOLN MONEY MARTYRED
tions in the States, so that anything that was done could be laid
on to other parties. Bold and bitter threats of assassination of
Lincoln were appearing in various papers and places.
"There was a paper in the South — at Selma, Alabama — that
carried an offer to remove Lincoln, Seward, and Johnson for a
million dollars. This advertisement was deemed by Rothberg to
be the very thing he was looking for and on which his plan was
laid — a plan that was discussed and put up to his accomplices as
the 'Kidnapping Plan'."
Note: (Excerpt from "Lincoln the President" by Henry C.
Whitney, Vol. 11, page 320, which the author inserts for the
readers' information.) "A Million Dollars Wanted to Have
Peace by the First of March. " "If the citizens of the Southern
Confederacy will furnish me with the cash or good securities,
for the sum of $1,000,000.00, I will cause the lives of Lincoln,
Seward, and Andrew Johnson to be taken by the 1st of March
next. This will give us peace and satisfy the world that tyrants
cannot live in the land of liberty. If this is not accomplished,
nothing will be claimed beyond the sum of $50,000.00 in ad-
vance, which is supposed to be necessary to reach and slaughter
the three villains. I will give myself $1,000.00 toward the
patriotic purpose. Everyone wishing to contribute will address
H. Catawba, Ala. Dec. 1, 1864."
"Finally the information came that a certain actor, John
Wilkes Booth by name, was known to be very hostile toward
Lincoln and had been heard to say while playing in McVickers'
Theatre in Chicago, two years before, 'What a glorious oppor-
tunity there is for a man to immortalize himself by killing Lin-
"Forthwith, the money was poured out to bring Booth to
Canada. Booth came, and they were soon engrossed in the plan
for the 'removal' of Lincoln from the White House."
"You may, if you wish," said the Stranger, at this point,
"confirm this trip of Booth's to Canada, as it is spoken of in a
number of different books, etc., concerning that period. (Note :
One such reference is to be found in the book, "Lincoln" by
Emil Ludwig, page 476 :
'When Lincoln, the enemy of his (Booth's) country was
elected for the second time. Booth went to Canada, the source
of activity for Southern Conspirators and spies. There it would
seem, he hatched a plan for kidnapping Lincoln, who was to
be carried to Richmond.
'Getting money from unknown sources, he always insisted
he made it himself, by successful speculations in petroleum ; he
returned in due course to Washington with the intention of
carrying out his design on the day of the Inauguration. He
tried to force his way into the eastern entrance of the Capital
and for a moment disturbed the line of police guards, but was
LINCOLN MONEY MAETYRED 123
rebuffed and declared later that a valuable opportunity had
been missed on this occasion. '
"This Booth was a strange and emotional character," con-
tinued the Stranger, "as were all of the Booth family, and espe-
cially his father, who you will find well described in a book called
'Myths After Lincoln' by Lloyd Lewis."
Note : The following is an excerpt from the book mentioned,
and is inserted for the information of the reader. "Religion
played strangely through this strange man. He worshipped at
all shrines alike, doffed his hat at every church he passed, and
knew all the intricacies of every Faith so well that all de-
nominations claimed him. His family were Episcopalians, the
Masons buried him in a Baptist vault, and away back in his
ancestry there was Jewish blood. Yet, after he died, there were
Catholic priests who believed that Booth was of their faith, so
deeply was he grounded in the finer details of their church
organization. Rabbis believed that he was a Jew, pointing out
the many times he had joined them in their synagogue services,
SPEAKING FLUENTLY THEIR HEBRAIC TONGUE.'
"Booth returned to Washington and got the word noised
about that he had made plenty of money in real estate and pe-
troleum speculations, in order that there would be no suspicion
of where he really got his gold. You must, of course, know, that
at that time gold and silver were quite unobtainable in the
States, and Booth's possession of this alone could make him
popular, and he would have no trouble hiring accomplices with
"You may also find frequent mention of Booth's having
plenty of gold, paying his associates in gold, keeping them in the
best Washington hotels, well supplied with money and well-
dressed. You will also find that there has never been evidence
produced to show that Booth ever consulted the Confederate
authorities about the kidnapping plans, to see how they felt
"However," continued the .stranger, "Booth was supplied
with a goodly quantity of gold and arrangements were made
with certain banks to give him more, as ordered by Rothberg,
when it was needed, and he was soon deeply immersed in his
plans for the great tragedy.
"The kidnapping plan was at first all that the relatives of
Rothberg thought they could have accomplished and were will-
ing to chance their ability to 'manage' the circumstances; as to
where and how Lincoln would be killed once he was within the
Southern Confederate lines.
"This, of course, Rothberg never mentioned to Andrews, but
had other lines of action started in the Southern States for that
part of his plan."
124 LINCOLN MONEY MARTYRED
"It was somewhere about this time," continued my visitor,
"that Lincoln made the statement in a letter to a friend or in a
public document (it really does not matter which, as you will
find it widely quoted in most all works on or about Lincoln) that
was to prove to be his death-warrant."
"AVhat a tragic thing," I said, "for one to write his own
death-warrant. ' '
"Yes," said the stranger, "but such it proved to be, for
Rothberg could plainly see by this utterance, that Lincoln fully
realized the gravity of the money situation, and with his knowl-
edge, would, at his first opportunity, when he could get the war
fiiiished (which seemed to be fast drawing to a close) put through
legislation that would not only repeal their National Bank Law,
but would put into use a money system that would make his
country for all time, in an economic way, the same as he had
done for the negroes in a human way, FOREVER FREE. I will
give you a quotation from this death-warrant in order that you
may be able to verify and see for yourself how clear it made the
issue to Rothberg. It begins as follows :
" 'I see in the near future a crisis approaching that un-
nerves me, and causes me to tremble for the safety of my coun-
try. As a result of war, corporations have been enthroned and
an era of corruption in high places will follow, and the money
power will endeavor to prolong its reign by working upon the
prejudices of the people until all the wealth is aggregated in a
few hands, and the republic is destroyed. I feel at this moment
more anxiety for the safety of our country than ever before,
even in the midst of war. God grant that my forebodings may
"The Money Changers could see," continued my visitor,
"that Lincoln had some clear definite idea in mind and they
knew only too well that Congress would not dare, in the face of
the great popularity of Lincoln with the masses, to try to thwart
any legislation on the money question that he might want passed,
for Lincoln could go right back to the people with evidence, and
clearly show that the really great men who had gone before in
the new republic had been violently opposed to the principles of
the then existing National Bank Law.
"The principles, of course, were practically the same as the
former Bank of the United States. The 'money changers' had
forced Lincoln to take them in the crisis of the Civil War, with
enemies all around him, and the Confederate Armies pounding
at the gates of Washington.
"So Rothberg redoubled his efforts and urged Booth to get
action quickly, and at the same time kept the newspapers of the
South publishing bold and bitter threats from first here and then
there to build up the thought that the deviltry was coming from
LINCOLN MONEY MARTYRED 125
"It might be well to state here," explained the stranger,
"that the most charitable thing we can say of young Andrews
is that he was doing his part under the impression that he was
going to help his part of the country, and, of course, himself
greatly, and it seems that when one's personal interest is in-
volved to a great extent it is not very hard to sell one's self on
the idea of doing such a thing.
"But he was to eat his heart out in lonelj'- regret and anguish
for his part in the conspiracy. But now he had not lived long
enough, nor was he sufficiently familiar with money matters to
realize the enormity of what they had helped accomplish, to the
detriment of the whole country — North and South. Therefore, he
was incapable of seeing what a great service he could perform
by exposing the plot.
"We must remember that Andrews had lost his slaves which
he honestly believed were perfectly right for him to have, his
plantation was ruined, his life embittered by his suffering and
changed appearance by the wounds on his face, and then his
bringing up as an only child had been conducive, of course, to
making him more selfish than he otherwise might have been. So
with these things taken into account, he probably acted about as
most others would have in the same circumstances.
"Events moved rapidly from that time on. Booth was con-
tinually urged to complete his mission. He had missed one or
two opportunities : once when Lincoln was supposed to be on a
certain road at a given time of day as was his daily custom.
Booth's plans had been to kidnap him then and rush him across
the Potomac into Virginia. Booth had been there at the appointed
time with his henchmen, waiting patiently, but wiien finally the
President's carriage approached close enough for them to see
clearly, they were much put out to find that instead of the tall
gaunt figure of the President, another Government official was
using the President's carriage.
"This episode was verj- discouraging to Booth, as he was quite
temperamental anyway, and it forced him to begin all over again.
He was being prodded continually by Rothberg, who was afraid
conditions were changing so fast that it would become more and
more difficult to kidnap Lincoln, so he definitely decided in his
own mind that the thing to do was to have Lincoln killed out-
right. Through a messenger he could trust, this was communi-
cated to Booth, who, while he talked loud and bragged much,
when it came right down to killing, was not so anxious about it,
and still clung to the idea of kidnapping, as that was not so
dangerous and besides he could become more of a hero himself
with much less danger to them all.
"In the meantime, Rothberg was getting demands for action
from England and he was passing them on to Booth with all the
vehemence he could put into words.
126 LINCOLN MONEY MARTYRED
"Sherman had just finished his march to the sea and was
turning North to try to capture the Confederate leader Johnson
with his army, while General Grant was in the last stages of his
campaign in the capture of General Lee's mangled, bleeding, and
starving armj^ of Virginia.
"Lincoln had made his last memorable trip to Grant's head-
quarters, down the Potomac River in the boat 'River Queen.' It
was while there (calling Sherman from the South to meet with
Grant and himself) he gave them their last and secret instruc-
tions concerning the surrender of the Confederates, the carrying
of which into effect a short time later was to electrify the South
and show them the true and great character of the Great Emanci-
pator, and at the same time to mystify the political leaders of
the North, who were eternally clamoring for vengeance on the
rebel political leaders, as well as officers and soldiers."
I was so amazed at the stranger's intimate knowledge of
events surrounding the happenings of long ago, that I hardly
uttered a sound, but did my best to take his words down in short-
hand, as he told the startling narrative.
"Lincoln was beset by two factions at home that were causing
great worry," continued he, "one the Abolitionists, who feared
Lincoln would fail to place the negro in full citizenship, the other
those fearing that the Confederate officers and army heads which
they called 'Traitors' would not be punished severely enough.
Lincoln attended to the latter on the trip of the 'River Queen'
at Grant's headquarters, and the question of the negroes, he felt,
he could attend to after the surrender of the Confederate Armies.
"We all, of course, well remember the action of Grant and
Sherman in receiving the surrender of Lee and the other armies
— paroling all (officers included), and permitting each soldier to
take a horse or mule of his own.
"To the people of both the North and the South," said the
stranger, "Grant and Sherman had done a wonderful thing, but
the radical factions desiring the 'Traitors' punished were much
put out. But Lincoln merely reminded them that as Grant and
Sherman had released the officers and men and gave them their
word of honor that they were free, he (Lincoln) could do noth-
"They had been outsmarted again. Lee's surrender had set
the North wild with joy that the bloody war was over, and Peace
had come once more. Loved ones who were left could come home,
and once more take up the thread of life where it had been inter-
"Rothberg was frantic at Booth's delay, so trusting for his
safe passage in the laxity of the border officials in the rejoicing
and uproar of Peace, he parted with more gold and crossed the
border in the dead of night and made his way to Washington.
"The eleventh of April came, and Booth, with Herold, one of
his accomplices, were in the crowd at the White House, when
LINCOLN MONEY MARTYRED 127
Lincoln made one of his most famous speeches of those, his last
days; pleading: with his people for mercy and forgiveness for
their brethren of the South. His tired, yet sincere voice pledging
the South to protect them from the radical revenge-seekers of the
"He promised not to turn the former slave owners over to
the former slaves, nor would he even let all the negroes vote,
only the small percentage of them who could qualify.
"These words of Lincoln were proof enough to all Southern
sympathizers that he was the best friend the South had ; but to
Booth, it was bitter indeed, as he saw his last chance for kid-
napping Lincoln and delivering him to the South disappear. Turn-
ing to Herold, he whispered, 'Shoot him on the spot.' Herold
naturally refused, saying that they were sure to be caught there,
as they had no chance to escape."
"If left to his own devices." continued the stranger, "Booth
likely would never have molested Lincoln, but on returning to
his hotel that night, who should be waiting for him but Rothberg
"Booth was greatly excited and amazed that Rothberg should
come to Washington, but with more of Rothberg 's gold in his
pocket and liquor flowing freely, and with the urging of Roth-
berg, he was soon ready for the great moment whenever it should
come. Rothberg stayed in hiding, of course, in the daytime, but
as soon as dusk settled over the city, he was after Booth with
liquor, and urging him to finish the job.
"As soon as it was announced that Lincoln and Grant would
be at Ford's Theatre on April 14th. Good Friday, they agreed
between themselves that there would be the place to act.
"Rothberg could readily conAanee Booth that the kidnapping
plot was out of the question, as Booth had stalled along for
months and had not accomplished his object, and that it was up
to him, the great actor, to show the 'stuff' he was made of, and
make a real name for himself! This talk and the liquor went to
Booth's head, and he 'fell' for the theatre idea, as that was his
natural place to work and couldn't he be the big actor, though?
"Rothberg thought Booth would be less likely to get away
alive from a big crowd and he was anxious to have not only
Lincoln out of the way. but Booth also, as he was well versed in
the idea, 'Dead men tell no tales.' Booth had never told anyone
about his contact with Rothberg, having been coached by Roth-
berg to accept all the credit for the schemes himself, which he, in
his erratic mind, had been glad to do, feeling it made more of a
hero out of himself to his accomplices."
"I will mention right here," said the stranger emphatically,
"that all through the turmoil, excitement and anxiety of the last
days of the war, with all the armies surrendering, the radicals
clamoring for the 'Southern Traitors,' and the vast and compli-
128 LINCOLN MONEY MARTYRED
cated duties thrust upon Lincoln at this time, he never for long
let the question of 'money' leave his consciousness. In the morn-
ing of his last day alive, he had an interview with Schyler Colfax
about money and the development of the gold and silver mining
industry of the Rocky Mountains. ' '
NOTE : The author verified the foregoing, and for the read-
ers ' information, quotes the following:
LINCOLN'S INTERVIEW WITH SCHYLER COLFAX ON
THE MORNING OF APRIL 14, 1865
From the Constitutional Edition of Abraham Lincoln, Vol. 7,
"Mr. Colfax, I want you to take a message from me to the
miners whom you visit. I have very large ideas of the mineral
wealth of our nation. I believe it practically inexhaustible.
It abounds all over the Western country, from the Rocky Moun-
tains to the Pacific, and its development has scarcely com-
menced. During the war, when we were adding a couple of
million dollars every day to our national debt, I did not care
about encouraging increase in the volume of precious metals.
We had the country to save first.
"But now that the rebellion is overthrown, and we know
pretty much the amount of our national debt, the more gold
and silver we mine, we make the payment of that debt so much
easier. Now," said he, speaking with more emphasis, "I am
going to encourage that, every possible way. We shall have
hundreds of thousands of disbanded soldiers, and many have
feared that their return home might paralyze industry by fur-
nishing suddenly a supply of labor greater than their demand
"I am going to try to attract them to the hidden wealth of
our mountain ranges, where there is room enough for all. Im-
migration, which even the war has not stopped, will land upon
our shores hundreds of thousands more per year from over-
crowded Europe. I intend to point them to the gold and silver
that awaits them in the West. Tell the miners for me, that I
shall promote their interests to the utmost of my ability ; be-
cause their prosperity is the prosperity of the nation, and,
said he, his eyes kindling with enthusiasm, we shall prove in
a very few years that we are indeed the treasury of the world. ' '
"As the fatal evening of April 14th crept around," continued
the stranger again, "Booth rounded up his gang and gave them
the new plan that had been impressed upon him by Rothberg,
which followed the plan advertised in the Alabama paper some
months before, which was to kill Lincoln, Johnson and Seward.
"Booth's accomplices rebelled fiercely, saying that they were
only hired to kidnap Lincoln and that was all they intended to
do, but Booth's persuasive power, added to the power of gold
and liquor, finally won them over, and they were assigned their
LINCOLN MONEY MARTYRED 129
"As Booth convinced Rothberg, in Canada, by demonstra-
tion that he was a good shot with the pistol he was appointed, of
course, to take the leading role and get Lincoln. This course was
also to have the best chance to get Booth killed and out of the
way. Powell, one of the conspirators, was assigned to kill the
Secretary of State, Seward, and Atzeroldt, another accomplice,
was assigned to kill Vice-President Johnson, and Herold was to
aid in the get-away.
''As you know, Atzeroldt fell down completely on his assign-
ment, being too much under the influence of liquor.
"Powell made a desperate attempt to kill Seward, and Herold,
true to his part, made his way to a meeting place with Booth.
"Booth, with the assistance of plenty of strong liquor bolster-
ing up his waning courage, and with the prompting and threats
of Rothberg ringing in his ears, and a dose of a well-known drug
administered by Rothberg as a stimulant for courage (as Roth-
berg so well knew), was finally ready for his act.
' ' So shortly after ten o 'clock, while the play at Ford 's Theatre
was in progress. Booth slipped quietly past the ticket taker, who
knew him as a privileged character, strolled casually up to the
back of the President's box, quietly stepped inside, and with the
cunning and accuracy of a maniac, Booth projected his pistol for-
ward on a level with the back of the President's head and fired.
"The great man never spoke — only slumped forward, and
Booth, dropping his gun and drawing a knife, slashed at the
military aid of Lincoln who rushed at him. Then attempting his
grandstand play as a great tragedian, he leaped from the box
to the stage, catching his spurs in some of the bunting decorating
the presidential box, and fell sprawling, breaking a bone in one
"With the excitement and drug both acting, and burning
with humiliation at his accident, he hardly paused, but brandish-
ing his knife, he cried, 'Sic semper tyrannis,' and half ran and
half hobbled from the stage, slashing at the orchestra leader
with his knife as he passed near him, and reached the stage door
on the alley where his horse was being held by a boy they called
'Peanuts.' He grabbed his horse, and hurriedly mounted him;
he cuffed the lad out of the way and was off for what he thought
was Liberty and Fame, with the ending you, of course, know."
I broke into the stranger's narrative to ask if Booth was
really killed or if it was someone else 's body they got and buried,
but replying the stranger said, "Yes, it was Booth, all right, and
a queer person he was. He never mentioned the secret part of
his conspiracy with Rothberg to the last, as he well knew what
would happen to him, surely, if he did.
"But Rothberg 's work was not finished. Booth had no sooner
accomplished his ghastly deed than Rothberg was busy with his
gold getting rumors, whisperings and confusion spread over all
the Capital. A few words well placed, with a few money changer
130 LINCOLN MONEY MARTYRED
friends were all that was required to speed the search for Booth,
to get him out of the way and hushed. Large rewards were soon
offered and detectives, police and soldiers were soon combing
the country about Washington, then more and still more whisper-
ing and rumors were spread by Rothberg's men, to thoroughly
confuse and detract all possible thought from the real source of
"Then when Booth was killed, more rumors were spread —
that it was not Booth 's body, to more confuse the issue, keep the
police thinking and hunting for Booth and the higher ups. This
was all right in line with the long practiced procedure of the
money changers. Over the centuries in such circumstances, con-
fusion, deceit, and make-believe have been their chief tools, aside
from the use of the power of Gold, which, of course, is their
greatest weapon, in their drive for wealth and power.
"As soon as Rothberg had concluded his whispering and
rumor campaign and Booth was killed, of which lie made sure,
he quietly slipped over to Montreal again. Here he met Andrews,
who had in the interval that Rothberg was away, by reading
Lincoln's late utterances and talking with other Confederate
officers, came to the conclusion that Lincoln was the South 's
only hope for fair play, and so informed Rothberg, and up-
braided him for double-crossing him and dealing his Southland
a dastardly blow.
"Rothberg, of course, was terribly sorry (so he said) and
blamed it all on to Booth, but he could see that Andrews mis-
trusted him and would likely cause him trouble. They were at a
small outlying house where they were in the habit of meeting,
and which had been fixed up comfortably by Rothberg. They
were still quarreling about the assassination, when Rothberg
finally decided that the best and safest thing for him was to get
Andrews also out of the way and forthwith suggested they open
a bottle of old wine and sit by the fire to talk it over.
"So saying, Rothberg proceeded to open the wine, but An-
drews, by now thoroughly mistrusting him, was carefully watch-
ing his actions, and after they had had a few rounds of wine,
he thought he saw Rothberg drop something into his (An-
drews') glass before filling it with wine.
"Rothberg was by now slightly under the influence of the
wine and was not as careful as he would otherwise have been.
"When he was attracted to the window by a disturbance outside,
Andrews changed the wine glasses, just in case he had been right
in thinking Rothberg had slipped something into his glass.
""When Rothberg returned to the table, Andrews was drinking
his wine and immediately Rothberg waxed jubilant and taking
up his glass finished it off at a gulp and urged Andrews to do the
same and have another. He had no sooner gotten the words out
of his mouth than a startled look came over his face, and turn-
LINCOLN MONEY MARTYRED 131
ing deathly pale, he seemed to realize what had happened. Know-
ing he was finished anyway, he grabbed for his gun to finish
Andrews also, but Andrews was the quicker of the two and
grabbing Rothberg's arm wrenched the pistol from him before
he could use it.
"By now, the poison was doing its deadlj^ work, and Roth-
berg sank to the floor, a victim of his own dastardly procedure.
He was soon dead, and Andrews, removing all identifications
from Rothberg's clothing and pockets, washed his own glass and
replaced it in Rothberg's cupboard. Then he removed the poison
receptacle he had found in Rothberg's pocket and left it open on
the table by the glass, so all could see Rothberg had just simply
"When this had happened, it being quite dark by then, An-
drews quietly left the place and, quitting the hotel where he had
been stopping, he left for Toronto.
"Thus, Rothberg, one of the arch conspirators of the ghastly
crime against humanity at large, and America in particular, just
in the very prime of life, and just when he thought all was over
but the shouting, had been paid in full with his own coin, by
drinking the potion he had prepared for another; once more
proving the old saying, 'THE WAGES OF SIN IS DEATH!'
The Return to the Old Plantation
"After a few days in Toronto," resumed the stranger, after
a pause, "Andrews crossed the border under an assumed name
and made his way back to his ' Old Plantation Home ' in Virginia,
to see just what the situation was there.
"The whole nation was in the deepest mourning over the
death of the martyred President, and by talking to different per-
sons and reading the papers, he was more convinced than ever
of the enormous mistake that had been made in the assassination
that had plunged the whole nation into despair, just when they
were all rejoicing at the close of the war, and starting the work
"Andrews' features were changed greatly by scars across his
face received in battle, when he was forced to leave the Service,
and it only required a change to old clothes and letting his beard
grow to some extent to make his recognition quite improbable.
He found most of his plantation had been fought over, fences
ruined, weeds and brush taking much of the land, and the slaves,
of course, dispersed.
"To his consternation, he found also, that the State author-
ities had decided he was dead and had forfeited his estate to the
132 LINCOLN MONEY MARTYRED
State and some parts had been sold to small settlers. The old
homestead, which was not greatly damaged, together with a por-
tion of the land, had been purchased by his former overseer (who
had been in his father's employ since childhood) and who, having
lived there most of his life, had through thrift managed to save
enough to make the purchase possible.
"The overseer was nearly sixty years old now, and having no
children, he and his wife were living in the old plantation home-
stead, with a few of the colored servants, who after the war was
over had straggled back to the only home they had ever known ;
only too glad to take their old places at any terms ; the responsi-
bility of freedom having been a greater care than they could
"It was on a beautiful May evening when Andrews came up
to the old homestead," said the stranger, "and his old overseer
was just coming up to the house from the stables, when Andrews
walked into the yard, and was greeted in the friendly fashion of
that day. Any stranger had always been welcome to a meal and
lodging at the Andrews ' home and the new owner kept to the old
custom. Inviting Andrews in, he proceeded to make him feel at
home by inviting him into the 'parlor' and saying supper would
be ready soon, and that he must stay for supper with him and
his wife, and if he would, they would be glad to have him stay
the night. After a bountiful supper that brought back the child-
hood memories as nothing else could, his host had lighted a fire
in the great fireplace and they were ready to spend the evening.
"Andrews mentioned the fact that though he had in former
years been familiar with that part of the country, it had been
some years since he had been there, having been in the army,
and asked his host to tell him the news of those parts.
"It was not long before Andrews was made acquainted with
all the current news, as well as an account of what had happened
to the Andrews' homestead, which gave him plenty to occupy his
mind for the next few days. The hour being late he was shown
to his own room, and bid pleasant dreams. When the door was
closed and Andrews turned to view the room of his childhood,
he was engulfed in a torrent of memories of the years that had
"As he wandered about the room, examining this thing and
that, his own things, all the horrible years of war, hospitals, in-
trigue and murder of the past year seemed to slip softly into the
shadows of unreality, and he was just a little boy again, in his
old home, with things of his childhood. As his memory traveled
back over the years, he began to explore the room to see if all
his things were in their right place, as he used to do when he had
been away from home for a few Aveeks. And as he opened one
drawer after another, peered into closets, and cabinets, he was
greatly relieved and grateful to find that sure enough, all were
there just like he had left them years ago ! His marbles, his books,
LINCOLN MONEY MARTYRED 133
his skates, his slingshot, his box of beautiful bird egg-shells, the
arrowheads, his first knife that his father had given him and
which he had loved so much he had hardly dared to use it, but
had always saved ; yes, they were all there, and he was again
living and enjoying the sensations of the years gone by as he
never thought to do again.
"Presently he was attracted to a 'presence' across the room.
Who could that strange man be, with a straggly beard and the
scars across his face, peering at him from the depths of shadows
over his dresser ? He would move over a little and see if he could
get a better look at him. But wait, how was this? When he
moved the strange man over the dresser moved also, he moved
back again and so did the other, and then suddenly, his mind
flashed back over the years from childhood memories to the
world of reality, of a middle aged man, the scarred stranger in
the mirror over the dresser, and his whole being was convulsed
and shaken by grief and anguish for the days and the loved ones
that had gone, never to return.
"The friendly eyes of a kind, but strict father, and the loving
eyes of an indulgent mother, now looked down upon him from
their places on the wall, and he became the little boy again, and
his mind wandered again in the memories of the past. Finally,
after some hours of this alternate switching of the scenes of life,
he crept silently into bed, and was soon lost in the sleep of utter
"But," continued the stranger, "Andrews never fully re-
covered from the experience of that night. The wounds on the
head he had received ; the anxiety and tragic experiences he had
gone through recently, the great grief and condemnation he had
felt for his part in the death of the Great Friend of his people,
and lastly the violent emotions of that first night in his boyhood
room, these were more than human mind could bear, and from
that day his mind would wander.
"During the next few days in his rational hours, he soon con-
vinced his hosts who he was, and they in the goodness of their
hearts insisted upon returning the old home to him, but he would
not have it so, and insisted that he must be 'just a man' come
to live with them.
"He seemed to some way feel that his days were numbered,
and he wished to do all he could to square himself. He insisted
on his old friend, the overseer, taking all his gold that he had
obtained from Rothberg and paying off all the indebtedness on
the old home, and fixing it up as it used to be, and also to find
those former slaves if he could, and settle them on farms of their
own and start them off right, which was done. And for himself,
he only asked to be able to live in his old room with his boyhood
memories, and be as useful as he could.
"After all these things mentioned had been done, Andrews*
mind seemed to grow gradually weaker and his lapses into his
134 LINCOLN MONEY MARTYRED
boyhood memory more frequent and prolonged. He seemed to be
with his mother and father and boyhood playmates for a while
and then come back to the present with its awful memories and
"His old overseer cared for him kindly, and kept him away
from all people at times when his mind wandered. He gave to
him the care and attention he would have given his own son.
"It was a few years after his first return, one hot summer
afternoon, Andrews was sitting in his favorite place beneath a
great elm tree not a great distance from the old house, the tree
being the same under which he had played through the happy
days of his childhood, when a thunderstorm came suddenly over
the hills, and lightning flashed in all directions.
"His host had called to him to come inside, but he had insisted
it would not rain much and he was right, it did not. But right
in the midst of the squall, a blinding flash of lightning blazed
through the tall reaches of the old elm tree, stripping some of
the bark from the side. Andrews, standing near the trunk of the
tree, to be out of the rain, seemed to draw up to full height and
then was seen to pitch forward and lie still. His host, who had
been looking from the window, ran to his assistance, but none
was necessary. Like the great Emancipator, over whom he con-
tinually grieved, he 'belonged to the ages!' A merciful God had
at last relieved him of his sins and sorrows, for which he had
repented and asked forgiveness many times through the years.
"They buried him beneath the old elm, where his moments of
happiness had been greatest, and there he lies today — another
martyr to the awful greed and lust for power and domination of
the foreign money changers. "
The Stranger Concludes His Story
The stranger paused, lost in deep contemplation, for a few
moments, of which I had taken advantage to clear my eyes of
tears of compassion for my unfortunate countryman Andrews.
Presently the stranger spoke again, "I wish you to have a
very clear idea in your mind as to the reason for Lincoln's re-
moval, and the consequences to the country, and to the whole
world that resulted from his death. You must first realize that
since money was first used there has always been a certain few
people who coveted it and who through deprivations, hoarding,
usury, and trickery later came to control all money and through
such control, to control most all activities of man. This control,
of course, became more and more concentrated down through
the ages, being wrested from these people from time to time
LINCOLN MONEY JVIARTYRED 135
through pogroms, and revolutions, but eventually always return-
ing to the control of either the same people or their descendants,
who had either inherited, or had handed down to them as a price-
less heritage, the money itself or the 'instructions' as to how in
devious ways to get control of it.
"No government, up to Lincoln's time, had ever been able
to figure out any way for the government itself to gain and keep
control of its own money and finances.
"This, then, was the crux of the whole situation: Lincoln
had, through the help of Colonel Dick Taylor, discovered that
very thing, and had used it successfully (making full legal ten-
der 'greenback' money), the money they made under their plan
being absolutely good money, never falling below par at any
time, and being even better than the much talked of 'sound
money' of the Money Changers and their cohort legislators.
"True, the Money Changers had been able to get this new
power awaj"- from the Government by having their satrap legis-
lators in Congress pass the Exception Clause Bill, making the
next issue of greenbacks good for payment of all debts both
public and private, EXCEPT duty on imports and interest on
the Government bond debt, which, of course, gave the Money
Changers and Bankers the excuse, as they planned, to 'discount'
the next issue of bills and therefore devalue and discredit them
in the eyes of the public.
"Lincoln had, as you remember, been forced to compromise
with the Money Changers (as he is said to have told friends he
could not fight two wars at once — the Rebels in front and the
Bankers in the rear, and of the two, the Rebels were the more
honorable) by giving them the 'National Bank Law' in order to
get money enough to continue the war and 'Save the Union'
which he was bound and determined to do at any cost ; knowing,
of course, that if and when he did save the Union and the war
was over, he could attend to the 'business' of the Bankers and
"He did, therefore, take the gold of the Bankers under the
working of the National Banking Law, and won the war with it,
and saved the Union (although he well realized it would, and
did, plunge the nation into a maze of bonded indebtedness to the
bankers), and by doing these things, he had become the greatest
hero the Nation had ever had ; that came up from the people ;
who knew their every problem and was loved by all.
"Naturally, Congress would not have dared to refuse Lincoln
any legislation he had deemed right and proper to have passed,
concerning the money system. This, the money changers well
knew he had in mind, and also the repeal of the iniquitous and
dangerous National Bank Law, that they forced upon him in
the crisis of the war, when he could not help himself, and also
that he would put into operation a real sound money system that
would not include the schemes and machinations of the Money
136 LINCOLN MONEY MARTYRED
Changers, but would forever make them an unnecessary quantity
in our National monetary system, but let them stay in England
and Germany and any other country that could tolerate their
nefarious schemes for the economic slavery of the masses.
"The Money Changers knowing full well that when Lincoln
was able to show the rest of the world a money system, simple
in action and direct and adequate in its operation, to furnish the
masses a free floating, ever sufficient, medium of exchange with-
out a morass of bonded indebtedness, that they, the Money
Changers, would therefore have to eat their bread in 'the sweat
of their own faces' instead of in the sweat of the other fellow's
"So knowing all these things they did with Lincoln just
what they had done many times all down through the centuries
— had him removed from power. And now it must be clear to
you that these same Money Changers, through the power and
'puir which they exercised over the text book people down
through the years permitted only a very small account of Lin-
coln's assassination to be printed in our school histories; the
story of the dastardly assassination of the one truly great hero
America ever had, that came up through the ranks from the
most humble position, through hardship, hard work, and priva-
tion, through his own efforts, to the greatest office of honor in
the power of the people to bestow, and which he so nobly and
effectively filled. This has been one of their most effective ways
of keeping their own devious actions from the people by mini-
mizing them, and also a most effective way of spreading propa-
ganda by putting it in school books."
At this point, and before I had time to ask the thousand and
one questions that had piled up in my mind, as to where he had
been able to obtain all this startling and amazing information,
and before I could realize what he was about to do, my strange
visitor begged my forgiveness for having disturbed me for so
long, saying he trusted to the goodness of God that I would be
able to use what he had given me, for the relief of our sore be-
leagued countrymen and all humanity, he bowed graciously and
disappeared through the door into the outer darkness of the
I closed my eyes and sank back into my pillow exhausted
from anxious attention and application in taking down in short-
hand the story of my strange visitor as he told it. Hours later
I was awakened by the cheery voice of my friend as he knocked
at my door and called me to get up for breakfast.
I awoke in a daze as the remembrance of the visitor and his
story of the amazing and tragic happenings poured in upon my
LINCOLN MONEY MARTYRED 137
consciousness. "Heavens!" I exclaimed to myself, "I must have
dreamed all that." And springing from my bed, I reached for
my notebook, as I seemed to remember that I had written the
story down as the stranger had recited it to me, and sure enough,
there it was, page after page, clear and distinct as any notes I
had ever taken in my life, in my own writing.
I was so excited I could hardly dress, and as soon as I could
make myself presentable, I rushed out to tell my friends of the
experiences of the night. They were beginning to have a good
laugh at my expense, when I told of the visitor and my host re-
marked that he was afraid I had eaten too much roast for dinner
the night before, and had been working too constantly.
But you may imagine their surprise and consternation when I
showed page after page of my notes and read the amazing nar-
rative, that they vowed was impossible for me to write in one
night! I hastened to swear to them that none of the story had
existed the night before, and that being tired I had gone to bed
early. When I came to the place in the story which told of the
old Andrews' Plantation, I noticed my hostess catch her breath
and start to say something, but then bade me proceed. As the
story progressed she and her husband seemed to have come to a
common agreement between themselves, as they would exchange
glances each time new mention was made of the Andrews home.
When I had finished, none of us seemed able to speak for a
time. Then my host asked if I had any idea where the Andrews
plantation might be located. I replied that the story as I read it
to them from my notes, was all I had to go on, so, of course, I
knew nothing more than that.
They then asked who my strange visitor was, and only then
I realized for the first time that he had not once spoken of him-
self, and had not even introduced himself on entering the room,
which I had not noticed at the time, having just awakened, which
I explained to them.
We then had breakfast and discussed some of the details of
the story as we ate and when we had finished, my host, turning
to me said, "It seems incredible, and if anyone but you should
tell me such a thing and yet tell me that he knew nothing of the
Andrews plantation, I would know he was just plain lying. But
we, of course, both know that in the days you have been here,
you have met no one and have worked incessantly, and would
have no way of knowing, but I must tell you that this, our home,
is the Andrews ' home spoken of by the stranger !
"The history of the family is, as we have had it told to us,
substantially as you relate it, even to young Andrews being
killed by lightning, and he is actually buried up the path a little
way under a great elm tree with a trace of lightning blast visible
on the trunk. But he was supposed to have returned after the
war with a weak mind, and had been absent for a time, sufficient
138 LINCOLN MONEY MARTYRED
for the happenings to take place and the property to be taken by
"The old superintendent, who bought the place, died without
children and it passed on to relatives, and has come down through
the years practically unmolested, and in the parlor, where you
have not been shown yet, hangs the picture of young Andrews,
his father and mother, and other relatives. Come, I will show
you." And with that we all went into the parlor.
My hostess raised the window shades, and as my eyes became
accustomed to the light, I started back in amazement, for there,
looking straight at me from the opposite wall, less the scars, was
the face of my strange visitor of the night before !
I was so upset for a time that I could only stand and stare
at the picture, and my host and hostess hastened to ask what the
matter was. I could scarcely more than utter the words to ex-
claim that my visitor's face and the face before me, the photo-
graph of young Andrews, were undoubtedly the same ! ! My
friends were stunned by my words as I had been at my first
glance at the picture, and wringing her hands, my hostess ex-
claimed, "Heavens above! Are we all going mad?"
"Come, let us get out into the yard into the sunshine, and
into the world of reality where we can think."
We gladly followed her into the yard and into the world of
reality, only to find in the days to come that the amazing tale
in my notebook strangely fitted into the maze of known facts
of past history, which alone and apart from each other, could
mean nothing, but when placed in order, as they had been by
my strange visitor, made one of the most sinister and enlighten-
ing disclosures in our history, and opens up to us, the de-
scendants of those brave and honest fighters, who loved and sup-
ported the Great Emancipator, in his valiant endeavors, a vast
field of useful knowledge, that should enable us to immediately
rally to the call from the murdered martyrs of the past, to for-
ever banish from our beloved land this hideous, vulturous, treach-
erous, murderous power of concentrated gold, that holds the
whole civilized world in a thrall of economic slavery.
The cries of the half starving and miserable children and
their unemployed parents come to us from over the nation, while
they are striving to keep going in a decent and orderly manner,
while daily being deluded and deceived by a subsidized press
into thinking this is "just one more depression and will soon be
over" to keep them still, while being robbed of their last posses-
sion and starved into submission.
Well, dear friend, there is the picture of our America as we
find it today. Your thought is likely; what are we going to do
LINCOLN MONEY MARTYRED 139
about it? If you will stop to consider the question for a few
minutes, you must conclude that all conditions, or state of being,
that are brought about by man, have a well thought out starting
place, or a foundation, upon which they are established, and
from which all policies and actions must be directed.
Very well then, we will start with the FACT that the whole
civilized world of today is being more or less controlled and ex-
ploited by a group whom we will call the International Money
Changers. We must conclude that this group did not come by, or
attain, this control accidentally.
If not, how did they attain it? On what foundation are their
aims, policies and activities based? Anyone that gives this sub-
ject careful consideration from the above standpoint, must come
to the conclusion that in a nation where private ownership of
property is practiced, a thing called money is very necessary to
carry on what we call business, or the exchange of labor and the
products of labor and services. This thing called money, there-
fore, being exchangeable for each and everything that exists,
including man's time at work, or labor, is the one all important
thing in a nation that vitally affects its daily life.
One must conclude, therefore that the Money Changers' group,
after having decided that they wished to dominate and exploit
the people of the world, must have come to the above conclusion
also, and having decided that the person, or group, that could
get hold of and control the money of a nation, could successfully
control and exploit the people. History bears out this very con-
clusion for we see all down through the centuries this same
identical group getting, hoarding, lending at usury, and manipu-
lating the money of all nations. They have consistently operated
this racket and handed down from father to son, and family to
family, this knowledge and practice, as a priceless heritage, to
be guarded and used for this very purpose.
Once the reader has definitely decided that the above con-
clusion is correct the questions present themselves : How did they
gain this control, and what are we going to do about it?
You cannot have carefully read through the pages of this
book and not know very definitely that the foreign money
changers got control of our nation by first controlling certain of
our National Legislators, through bribery, corruption, or other
means, and influencing, or forcing them (the legislators) to pass
laws giving the foreign money changer group the privileges of
issuing and controlling our money system and establishing their
own banks and banking system.
History tells us that practically no great social change or re-
form has ever taken place unless, and without, about half of the
existing population being killed off, and that the downfall of each
civilization, of which we have any record, occurred when a time
in the life of each one was reached that practically all the tan-
140 LINCOLN MONEY MARTYHED
gible wealth of the country was in the hands of a very small
per cent of the people. That very condition faces our nation
Shall we go the same way as past civilizations? What factors
do we possess today that they of past civilization did not possess
that might work toward saving us from such a fate? Aside from
a more general education, there seems to be only two : first, a
highly developed communication system ; second, the enormously
increased power of production per man.
The money changers now have nearly complete control of our
communication systems which they use to propagandize us into
doing their bidding. Many people believe that the power of gov-
ernment is being used by them now through the many alphabeti-
cal organizations of the Brain Trust to get control of our great
power of production, even to the killing of unborn pigs, of cattle,
of sheep, and of plowing under and restricting the growing of
cotton, wheat, corn and etc., to be able to completely control our
national and individual life.
There is no weapon to be used by a group equal to the power
of gold when that is made the basis of a nation's money. If any
nation is now going to try to throw off the encircling chains of
economic slavery of the money changer group, that nation must
FIRST take away from the money changers their power to con-
trol the money of the nation, for that is their chief weapon and
through its use and manipulation all other advantages are ob-
tained, and all other rackets are perpetuated.
Through the manipulation of the nation's money system, the
money changers have now obtained virtual possession and
control of all our principal communication and transportation
systems, our public utilities systems; and together with the use
of money manipulation, usury, stock exchange gambling, and the
exploiting power of these aforementioned systems they have now
mortgaged practically every piece of property in our nation to
Now just why do the "Money Changers" want the power to
issue and control money? Well, just suppose for instance, my
dear reader, that you were a very selfish individual and wanted
to take every advantage you possibly could of the people among
whom you lived, just anything that all the people had to have,
that you could get the law makers to give you control of, would
be a grand concession, would it not ? You could restrict your out-
put and make it scarce and consequently make the people trade
you more of their product for yours than it was actually worth,
or in other words, change the value of your product in terms of
exchange of produce ? Certainly you could and would if you had
a mind and disposition that the money changer crowd have, and
that is just exactly what they do with money, once they get con-
trol of the issuing power of it. And that is why they are called
"Money Changers." Now why do they choose money to exploit?
LINCOLN MONEY MARTYRED 141
Simply because money was created to be a token or a thing
which would stand for and be exchangeable for all produce and
labor, therefore, it is one of the prime necessities in the realms of
trade and commerce and another thing, it is easily stored, does
not depreciate in itself, and the really big and bad thing is it
CAN BE LOANED AT INTEREST or USURY, and be made to
work for you while you sleep, so back of the whole mess is the
wicked, vicious, hideous destroyer of nations and civilizations,
the practice of "USURY."
Therefore, once we have taken back the power to issue and
control the value and volume of our money, and placed that con-
trol in the hands of Congress, where our good old Constitution
placed it, we must use the power of Eminent Domain, also given
our government by our Constitution, and take over and operate
under our government these systems of transportation, communi-
cation, oil, gas and coal, as they are all natural monopolies and
should belong to our people as a whole and not for the ex-
ploitation of any particular group.
Once these two first steps are completed the other necessary
steps to make our nation a happy, vigorous, industrious, virile,
law abiding nation, free from hunger, unemployment and panic ;
forging ahead to a prosperity and development such as has never
been known, will be comparatively easy to accomplish.
And how to bring this about?
Inform yourself, tell your friends and neighbors, convince
them, call meetings, educate yourselves and others ; form com-
mittees in each district to wait on your Congressmen and Sena-
tors and infonn them, in no uncertain terms, just exactly what
you want, and see that they do it or else —
You must all remember that it was only through the ability to
corrupt, bribe, or control in one way or another, enough national
congressmen and senators to get the necessary legislation passed
to give the Money Changers possession of our monetary systems.
We must get our rights re-established the same way, by seeing
that our legislators pass the necessary laws to do so.
And finally, as we realize that only by a predatory group,
first obtaining control of our Nation's money system, can it get
and control the nation, let us insist on our National Congress
passing a law making the introduction of a measure in either the
Senate or the House that would in any way take the issuing
power and control of money from the hands of Congress, a
treasonable offense, punishable by death before a firing squad.
It is high time that we put a stop to the activity of treacherous
legislators selling out their country.
The International Money Changers are in the saddle. They are
out to rule or ruin the world. Do you believe they own the
money and the munition works, that they foment trouble be-
142 LINCOLN MONEY MAKTYRED
tween nations, get them into war, loan the nations their money,
creating a bonded debt to buy their munitions, to kill each other
off, deplete their manhood and mire them in debt so they may be
easier controlled, all by the power of GOLD? And their power
was obtained through crooked legislators?
Mr. Average Man and Woman of our troubled America, you
have shifted the responsibility of your duty to yourself and your
nation — of giving time and thought to what is done by your
legislators, whom you send up there to do it — long enough. It is
up to you, individually and collectively, to get busy now, if you
wish to save your necks and the future independence of your
nation. DO IT NOW, TOMORROW MAY BE TOO LATE !
The voices of our brothers call to us from the graves in a for-
eign land, to make good our pledge to them of a "world safe
The voices of our fathers of the Civil War call to us from the
graves of Gettysburg, to finish the work they so nobly began, of
freeing mankind from slavery, their part to free the black man
from chattel slavery, ours to free all men from a worse bondage
— economic slavery.
The voices of our ancestors of Bunker Hill, Lexington, and
Valley Forge call to us across the years to regain and uphold
the rights of Freedom they fought for so valiantly, to win for us.
Earnestly, tenderly, Jesus is calling across the centuries from
the Cross on Calvary, "I am the Way, the Truth, and the Life."
He set us the example of driving the Money Changers from the
Temple. He pleads with us through the Sermon on the Mount to
apply the principles of the Golden Rule in our every day lives,
and redeem our debauched young people from a life of shame
and ruin by liquor, drugs, white slavery and corruption, that is
being fastened upon them by the same nefarious, inhuman, for-
eign money changers, who own the liquor business, the tobacco
business, the drug traffic, the white slave traffic. Find out for
yourself, the information is available.
Can you sit still and suffer the yoke and chains of a terrible
economic serfdom to bind us, for evermore, when we are so ard-
ently called to the service to Humanity?
When the God of Nature has showered an abundance of all
good things upon us, shall we meekly let it be destroyed and our-
selves and our descendants be forced into an economic slavery to
these worse than devils? No! A thousand times NO! But "Be-
neath the Starry Flag together we will firmly stand, for the free-
dom of our own beloved Home."
LINCOLN MONEY MARTYRED 143
Father Abraham we hear you calling from a martyr's grave —
"Arise, ye Christian Americans, while yet there is time, and once
and for all time smash this arch enemy of Christianity, De-
mocracy and economic freedom. The dawn of a new and glorious
future of economic security, and plenty for all awaits ONLY
YOUR UNITED ACTION.
The following article and editorial taken from the Vancouver
Daily Province of May 2, 1934, gives further light on the subject
treated in this book.
OTTAWA, May 2, 1934 (CP)— Abraham Lincoln, the mar-
tyred emancipator of the slaves, was assassinated through the
machinations of a group representative of the international
bankers, who feared the United States President's national
credit ambitions — and the plot was hatched in Toronto and
Montreal. This was the information imparted to the House of
Commons committee on banking and commerce Tuesday by
Gerald G. McGeer, K. C, Vancouver lawyer and advocate of
social credit, during a five-hour attack upon the present finan-
"The evidence discloses that instead of being a patriot,
John Wilkes Booth, who assassinated Lincoln in a Washington
theatre, was a mercenary," Mr. McGeer declared. Basing his
beliefs upon an exhaustive study of unexpurgated copies of
the evidence given by secret service agents at Booth's trial, he
declared the only group that could benefit by Lincoln's death
and who had the money to carry out such a plan, was the in-
"The South worshipped Lincoln and looked upon him as
the only one who would secure them justice in defeat. If they
wished to kill him they had splendid opportunities and could
have secured a thousand who would do the job," McGeer said.
Hatched in Canada
"According to the evidence given at the trial, the plot to
assassinate Lincoln was first disclosed in Montreal and To-
ronto," Mr. McGeer said. "A group of men representing the
Confederacy were operating in Canada with headquarters in
those cities. During the winter of 1864 and 1865 they were
approached by an unknown group with the proposition to
144 LINCOLN MONEY MARTYRED
"They were not from the South nor connected with the
Southern government, because representatives of the South in
Canada hesitated to consider the proposal until it had been
submitted to the South for approval.
"Booth was engaged to organize the assassination. It was
proposed to the Southern government as a plot to kidnap Lincoln
and hold him as a hostage for the purpose of bargaining for
terms of settlement.
Cost No Factor
' * In accordance with this plan a request was made to confer
commissions in the Southern army upon those who were to en-
gage in the actual kidnapping or assassination of Lincoln.
"The men responsible for instigating the crime were un-
known, but in evidence given at the trial they were described
as a group which could undertake anything without regard to
"Booth was never a Southern patriot in the real sense. He
was never in the Southern army, and one of his associates was
a deserter from that army.
"Shortly before Lincoln was assassinated one of the men
engaged by Booth declared that he was going away on a visit
and that he would return with plenty of gold.
"Lincoln was wont to describe the men opposing his green-
back currency policy as 'the secret foes of the nation.' The
battle between Lincoln and the sound money men of the day
was well known. In 1864 he was elected on a platform that
contained a plank declaring for national currency.
"Lincoln was the most powerful reformer of his day. Had
he lived he would have established a national currency system
in the United States.
"There was only one group in the world at that time who
could finance anything they cared to attempt without regard
to cost, and who had any reason to desire the death of Lincoln.
"They were the men opposed to his national currency pro-
gramme and who had fought him throughout the whole Civil
War on his policy of green-back currency.
"They were the men interested in the establishment of the
gold standard system and the right of the bankers to manage
the currency and credit of every nation in the world.
"With Lincoln out of the way they were able to proceed
with that plan and did proceed with it in the United States.
Within eight years after Lincoln's assassination silver was
demonetized and the gold standard money system set up in the
LINCOLN MONEY MAKTYKED 145
From the Daily Province — Wednesday, May 2, 1934
McGeer at Ottawa
All the despatches from Ottawa suggest that Mr. McGeer
has achieved a real personal triumph with his speech before
the Commons committee on banking and currency. By virtue
of that single speech he appears to have become a national
figure, as Bryau became a national figure in the United States
through a single speech on a similar topic nearly forty years
The people who haunt the halls and committee rooms on
Parliament Hill and the lounges and corridors of the Chateau
Laurier are practised tasters of speeches. They live in an at-
mosphere of public speaking. They are accustomed to listen to
the best Canada can produce and they not infrequently hear
the best from other lands. It is no mean compliment, then,
when the men sit for six hours listening to the criticisms and
theories and plans of the crusader from the West.
Mr. McGeer has gone far in the past two or three years, and
all through the marvelous energy, vitality and industry and the
native ability stored up in himself. He was easily the central
figure in the session of the Legislature at Victoria. He turned
the Public Accounts Committee from its usual practice of
tracking down petty partisan expenditures to a study of pub-
lic finance. He forced his plan through the committee and the
committee report through the Legislature. He was a whole op-
position in himself. For days on end he stole the show from the
Premier and the government. Now, in his single day on Parlia-
ment Hill, he has stolen the show again.
Whatever the answer, the fact remains that Gerry McGeer
has done more, probably, than any other man to make the
monetary question a national issue in Canada. It is hardly likely
he has reformed the ideas of the hard-boiled committee on cur-
rency and banking. He probably never expected he would. But
as the prophet of a New Deal in Canada, he has got his plan
before the country. He has made criticism which can not be
ignored or treated with contempt. Whether they are right or
wrong in their criticisms, Gerry McGeer, Major Douglas and
the other honest critics of the existing monetary system have
now gained enough currency for their criticisms and theories
to demand a better answer than has yet been given by the
upholders of things as they are."
LINCOLN MONEY MARTYRED
The following chart and notes (revised), reprinted from "New Economics," Melbourne, Australia,
November 23, 1934, gives a graphic picture of the world setup as in force today and should cause all
lovers of liberty and democracy to think and then act, while yet there is time.
SUPER WORLD GOVERNMENT
Domination and Exploitation Without Representation
THE HIGH FINANCIAL POLICY
THE WILL TO ECONOMIC SCARCITY
And Directing That Policy
THE BANK FOR INTERNATIONAL SETTLEMENTS
Which Forms the Policy of and for
THE AMERICAN THE BANK OF THE BANK OF FRANCE AND
FEDERAL RESERVE BOARD ENGLAND CENTRAL BANKS OF OTHER NATIONS
WHICH EXTENDS THE POLICY THROUGH
International Propaganda and Control Applied Through
WORLD COURT OF JUSTICE PLATFORM^ AND puLPIT CENTRAL BANKS OF NATIONS
(Legal Repression) (Moral Repression) (Financial Repression)
The Council of the League of Nations
The International Military Forces
The Assembly of the League of Nations
International Police Forces
I The International Commission for Rationing Nations I
PEACE TREATIES MONETARY SYSTEMS
(Territory) (Control of Production and Consumption)
ALL DIRECTLY INTO
THE CABINETS OF NATIONS
(Where National Policies Originate, and Are Passed on to)
THE PARLIAMENTS AND CONGRESSES OF NATIONS
(The Center of Political Conflict)
(Where the People of All Nations Are Sold Down the River)
THE ELECTORATES OF ALL NATIONS
CAPITALISTS AND WORKERS
(Field of Economic Resistance)
(Field of Social Resistance)
THE WILL TO ECONOMIC PLENTY
THE POLICY OF THE INDIVIDUAL
LINCOLN MONEY MARTYRED 147
NOTES ON DIAGRAM
HIGH FINANCIAL POLICY. "Produce more, consume
less." The theory is that national prosperity depends on personal
abstinence. Consequence — a fast expansion of the MEANS OF
PRODUCTION (capital resources), but no corresponding expan-
sion of the means of life.
POLICY OF THE INDIVIDUAL. To increase his consump-
tion relatively to his expenditure of energy. More goods for less
work. Policy justified by reason of modern machine production.
THE DOMINANT POLICY. Financial policy prevails because
it is made effective through the control of financial credit, which
is a monopoly of the banking system.
INSTRUMENTATION OF POLICY. The banking system uses
its monopoly to encourage the multiplication of factories and
plant, and to discourage the output of consumable goods. The
result is the "exportable surplus" and the struggle to dump it
abroad. Hence war. Against this tendency the individual can, in
theory, use the power of his vote. But as Finance defines the issues
on which he may vote, his political power is diverted to irrelevant
issues, and so dissipated.
INTERNAL GOVERNMENT. In Great Britain, the power
over policy proceeds from the Bank of England, in association
with the "Big Five" banks, through the Treasury, then through
the Chancellor of the Exchequer, wlio delimits tlie initiative ot nis
colleagues in the Cabinet. The Cabinet in its turn arranges the
main issues to be discussed by Parliamentary Committees, and
debated by the full House. If the House should reject any one of
these issues, it condemns itself to dissolution. Notice that the
principle of popular election ends at the House of Commons;
that is the third removed down from the source of national policy.
The personnel of the banks, the Treasury, and the Cabinet is
decided by secret nomination.
WORLD GOVERNMENT. The accompanying plan shows the
extension of the above system to international affairs. The "cen-
tral bank ' ' of every nation, while dominating that nation 's policy,
as described above, is itself an agent administering the policy of
an international banking trust of which it is a member. Thus the
ultimate control of every nation's policy is outside that nation.
This control is to be exercised, in appearance, by the Council of
the League of Nations — a sort of Cabinet of Europe. The Assem-
bly of the League may be called the European Parliament. The
League's International Commissions of various sorts are like so
many Parliamentary Committees. Notice that, unlike national
Parliaments, notl even the Assembly, much less the Council, of
the League, is popularly elected. Both are secretly nominated.
Finance controls the nominations. Thus, the control of policy is
not, even in form, granted to the millions of people whose des-
tinies are involved in the system. Democracy is at an end — if it
ever had a beginning.
148 LINCOLN MONEY MARTYRED
THE ROLE OP NATIONAL PARLIAMENTS AND CON-
GRESSES. These institutions have no function left but that of
persuading or coercing the public into acquiescence in a condition
of economic scarcity deliberately decreed by external financial
policy. The available national income has to be rationed out to
Capital and Labor in such manner as to postpone the outbreak
of industrial hostilities.
THE ROLE OF THE LEAGUE OP NATIONS. This body's
function is to ration the available world income among nations
by rationing their markets in such manner as to postpone a fresh
outbreak of war.
THE PINAL ISSUE. Every economic and political problem
in the world can be resolved into a conflict between the indi-
vidual, who says, "I must consume in order to live," and the
world financial autocracy, which says, "You must not consume if
you would live." The conflict, for instance, between Capital and
Labor is at root a struggle between two bodies of would-be con-
sumers over a given quantity of purchasing power which is being
kept insufficient by the banking system as a matter of policy.
Neither party to the struggle is responsible for the occasion of
the struggle, nor can remove it by strikes and lock-outs.
THE MORAL. This international stranglehold can be broken
when the nominated Cabinet, or Congress, is faced by a united
people on the one vital issue, namely: "That Pinancial Credit,
being of this People, should be controlled by this People for this
People." Capital and Labor must call an industrial truce and col-
laborate . . . and ultimately to detach these banks themselves
from the international trust which they serve. After all, these
repressive institutions are simply small groups of ordinary human
beings whose natural desires and aspirations are being thwarted
by reason of this existing chain of institutional allegiances. When
each nation resumes its power of financial self-determination —
when its Parliament, banks, industries, and citizens are free to
concentrate on the program of internal production and consump-
tion — there will be no need for a League of Nations, unless it be
as a clearing house for the renascent cultures of an emancipated
Amschel Mayer Rothschild (the originator of the House of
Rothschild) said, "Permit me to issue and control the money of a
nation and I care not who makes the laws."
The "permitting" was begun when his five sons were put in
control of the five great banks of England and Europe and
given (?) the privilege of issuing the paper money.
President Garfield (just before he was assassinated) said, "He
who controls the money of a nation, controls the nation. ' ' Which
we can now see working in all countries of the world. The Control
Board of the Bank of International Settlements is said to be
composed of one or more members from the board of each of the
Central Banks of the various nations.
LINCOLN MONEY MARTYRED 149
Thus we find that the people of a nation never get to vote on
the POLICY of their government, but only on which PARTY the
Conservative, or Liberal, the Democratic, or Republican, shall
ADMINISTER THE POLICY handed down from above as here
The PEOPLE'S WISH and WILL for an ECONOMIC
PLENTY is BETRAYED and set aside, in the Committee Rooms,
the Cloak Rooms, the Bill Registration Rooms, or by a small
BAND OF TRAITOROUS legislators, who sell the people out to
the MONEY CHANGERS for PIECES OP SILVER or GOLD,
even as did the other Judas two thousand years ago.
The following resume of what is money and the judicial de-
cisions concerning our Congressional rights in the issue of money,
are reprinted with permission from "What Is Coming," by L. E.
Stowe and are a very valuable collection for the student of
money as a reference.
What Is Money?
Prom "What Is Coming," by L. E. Stowe
For the benefit of those who scoff at paper money and gov-
ernment control of the issue of money, let us quote some au-
thorities on the subject:
What Is Money?
"Money is a creation of law." — John Stuart Mill, Econo-
"Money is a creation of law. It is a measure of value by
comparison, whereby we ascertain the comparative values of
all merchandise, or it is a sign which represents the respective
value of all commodities. ' ' — Blackstone, the English Law Giver.
Attorney General Ackerman, in speaking of the legal tender
act, said: "We repeat, money is not a substance, but an im-
pression of legal decree."
"The theory of the intrinsic value of money has been
abandoned by the best writers and speakers." — Encyclopedia
"Metallic money while acting as coin, is identical with
paper money in respect to being destitute of intrinsic value."
— North British Review.
"An article is determined to be money by reason of the
performance by it of certain functions, without regard to its
former substance." — Appleton's American Encyclopedia.
"Money is an ideal thing; the coin or government legal
tender paper bill is the tool or visible expression of that ideal
thing. The tool that represents that idea depends as much upon
the law of supply and demand for its value as does the wheat
or any other commodity.
150 LINCOLN MONEY MARTYRED
"Congress alone has the right to issue money and regulate
the value thereof." — Our Constitution.
"The general government ceases to be independent, it
ceases to be safe, when the national currency is at the will of a
company." — Thos. H. Benton.
Read the following extract from a speech of John C. Cal-
houn of JSouth Carolina, delivered in the United States senate
during the panic of '37- '38:
"We are told there is no instance of a government paper
that did not depreciate. In reply I affirm there is none, assum-
ing the form that I propose, that even did depreciate. When-
ever a paper receivable in the dues of a government had any-
thing like a fair trial it has succeeded."
"When all our paper money is made payable in specie on
demand, it will prove the most certain means that can be used
to fertilize the rich man's field by the sweat of the poor man's
brow. ' ' — Daniel Webster,
"Whatever a government agrees to receive in payment of
the public dues, as a medium of circulation is money, no matter
what its form may be, trading notes, drafts, etc. Such bills or
paper issued under the authority of the United States is
money." — Henry Clay, in the Senate, 1837.
"Gold and silver are not intrinsically of the same value
with iron. No method has hitherto been found to establish
a medium of trade equal in all its advantages, to bills of credit,
(greenbacks) made a legal tender." — Benjamin Franklin.
"I sincerely believe that banking institutions are more
dangerous to liberty than standing armies." — Thomas Jeffer-
son's Works, Vol. VI, page 608.
"Bank paper must be suppressed and the circulating me-
dium must be restored to the nation, to whom it belongs. It is
the only fund on which they can rely for loans ; it is the only
resource which can never fail them, and it is an abundant one
for every necessary purpose. Treasury bills, bottomed on taxes,
bearing interest or not bearing interest, as may be found neces-
sary, thrown into circulation, will take the place of so much
gold and silver." — Thomas Jefferson's Works, Vol. VI, page
199, letter of September 11th, 1813.
"I have ever opposed money of bankers; not of those dis-
counting for cash, but of those fostering their own paper in cir-
culation and thus banishing our cash. My zeal against these
institutions was so warm and open at the establishment of the
bank of the United States that I was derided as a maniac by the
tribe of bank mongers who were seeking to filch from the pub-
lic." — Thomas Jefferson in a letter to President Adams, Jan-
uary 24, 1814.
"Charter a bank with $35,000,000, let it establish and learn
its power, and then find, if you can, means to bell that cat;
LINCOLN MONEY MARTYRED 151
it will be beyond your power; it will over-awe Congress and
laugh at your laws." — John Randolph.
"As a result of the war, corporations have been enthroned,
and an era of corruption in high places will follow, and the
money power of the country will endeavor to prolong its reign
by working upon the prejudices of the people until all wealth
is aggregated in a few hands, and the republic is destroyed.
I feel at this moment more anxiety for the safety of my coun-
try than ever before, even in the midst of the war. God grant
that my suspicions may prove groundless. ' ' — Abraham Lincoln.
"Whoever controls the volume of money in any country is
absolute master of all industry and commerce." — James A.
King Solomon demonetized silver, the lesser metal, and
brought destruction and ruin to his country.
Five hundred B. C. the precious metals were found inadequate
to the needs of Greece. Solon reduced the metal in the coin,
thereby expanding the currency, and thus saved Attica from a
deluge of blood.
Five hundred years later Julius Caesar found the precious
metal insufficient to supply the circulating medium of Rome, and
he took the privilege of coining money from the wealthy families,
to whom it had been granted, and restored it to the government,
to whom it belonged, and he created a cheap metal money, and
established public works and paid it out to labor; thus creating
good times and the people loved Caesar, but the wealthy senators
murdered him with their own hands.
The Romans, on several occasions, were compelled to reduce
the metal in the coins to increase the volume of money to carry
on their wars.
"At the Christian era the metallic money of the Roman Em-
pire amounted to $1,800,000,000, by the end of the Fifteenth
century it had shrunk to less than $200,000,000. . . . History
records no other such disastrous transition as that from the
Roman Empire to the Dark Ages. ... It is a suggestive coinci-
dence that the first glimmer of light only came with the in-
vention of bills of exchange, and paper substitutes, through
which the scanty stock of the precious metals was increased in
efficiency. ' ' — Report of the United States Silver Commission in
England was compelled to reduce the metal in her coin several
times and the monej- changers tried to force her back, but failed.
She was finally compelled to adopt paper money and suspend
Gold deserted the United States on several occasions and al-
ways brought disaster until we resorted to paper money, when
the absence of gold did not trouble us until we attempted to get
back to a gold standard, when it brought ruin and dispair.
152 LINCOLN MONEY MARTYRED
Henry A. Martin, the French historian, tells us that France
tried to adopt a system of paper money, but the money changers
crippled it as did our bankers cripple our paper money during
the Civil War, yet such prosperity did that money give France
that England determined to destroy its power and paid from
her secret service fund one Dembies, a cabinet officer, a hundred
thousand crowns per annum to intrigue against this money and
as much more to M. D'Argenson for the same purpose.
The bankers told Andrew Jackson if he vetoed the old United
States bank bill they would ruin the business of the country. He
vetoed it and some one tried to assassinate him ; he well knew
In 1881 Congress was flooded with petitions to pay the bonds
with paper or silver, or to convert them into small interest bear-
ing bonds, payable at the government's option. The bankers
said if you do either we will ruin the business interests. This is
known as the bankers rebellion of 1881. (Freeman 0. Wiley.
Whither Are We Drifting as a Nation.) Congress failed to do
either, but Garfield did convert them into small interest bearing
bonds and circumstances point to that, and his utterances upon
finance questions at that time as the cause of his assassination.
Here are the state cases in which the constitutionality of the
legal tender money are passed upon, and where the same may
be found, and what the judges said in some of the cases :
Carpenter vs. Northfield Bank (39 Vt. 46) ;
Shollenberger vs. Brinton (52 Pa., St. 9) ;
Verges vs. Gibony (38 No. 458) ;
Brown vs. Welch (26 Ind. 116) ;
Latham vs. United States (1 Ct. of CI. 149) ;
Lick vs. Falkner (25 Cal. 404) ;
Curiae vs. Abadie (Id. 502) ;
Kierskie vs. Hedges (23 Ind. 141) ;
Britenback vs. Turner (18 Wis. 110) ;
Jones vs. Harker (37 Ga. 503) ;
Reynolds vs. Bank of the State (18 Ind. 467) ;
Wilson vs. Trebilcock (23 la. 331) ;
Met. Bank vs. Van Dyck (27 N. Y. 400) ;
Hague vs. Powers (39 Borb. N. Y. 427) ;
Roosevelt vs. Bull's Head Bank (45 Ind. 579) ;
Murry vs. Gale (52 Id. 427) ;
George vs. Concord (45 N. H. 434) ;
Van Husan vs. Kanouse (13 Mich. 303) ;
Hintra vs. Bates (18 la. 174) ;
Maynard vs. Newman (1 Nev. 271) ;
Milliken vs. Sloat (Id. 573) ;
LINCOLN MONEY MARTYRED 153
Borie vs. Trott (5 Phil., Pa., 366) ;
Johnson vs. Juey (4 Coldw. Tenn., 608).
The above are copied from the reports of court decisions which
were not merely questions of the constitutional power of Con-
gress to issue legal tenders in time of war or peace, but the whole
matter of the necessity of all facts for whatever purpose not pro-
hibited by the Constitution.
Chief Justice Chase, in Hepburn vs. Griswold, stated that :
"The constitutionality had never been called in question, except
as to its retrospective effect, and then by the submission of the
people to this and contemporaneous construction of other courts,
bring to its relief a general principle of law, which has all the
force of law itself. The mere fact that there is a concurrence is
an argument in favor of the proposition, which is concurred in
by the different courts."
Attorney-General Akerman, in arguing in favor of the consti-
tutionality, said: "Congress has never hesitated to enact what
should be legal tender in payment of debts. The right to thus
FORTY-EIGHT— PC— Lincoln 6Y 6-13
enact has been assumed in twenty-four statutes, passed in presi-
dences of "Washington, Jefferson, Madison, Monroe, Jackson,
Tyler, Polk, Fillmore, Pierce, Lincoln and Johnson. . . . The Con-
stitution nowhere declares that nothing shall be money unless
made of metal."
Jullard vs. Greenman (U. S. Reports, Vol. 110, page 421.)
Supreme Court Decision
Congress has the constitutional power to make the Treasury
notes of the United States a legal tender in payment of private
debts, in time of peace, as well as in time of war.
"Under the act of May 31st, 1878 (ch. 146), which enacts
that when any United States legal tender notes may be re-
deemed or received into the Treasury, and shall belong to the
United States, they shall be reissued and paid out again, and
kept in circulation. Notes so reissued are a legal tender.
"Submitted to Supreme Court, 1884, decided March, 1884,
the opinion of the court being delivered by Mr. Justice Gray.
"Upon full consideration of the case the court is unani-
mously of the opinion that it cannot be distinguished in prin-
ciple from the cases heretofore determined, repeated under
the names of the Legal Tender cases (12 Wallace), Dooley vs.
Smith (13 Wallace), R. R. Co. vs. Johnson (15 Wallace), and
Maryland vs. R. R. Co. (22 Wallace)."
This should forever set at rest the question of the rights of
government to issue paper money, pure and simple.
UNIVERSITY OF ILLINOIS-URBANA
LINCOLN MONEY MARTYRED SEATTLE. WASH.
3 0112 031774349