(Soon after your BSRA Director and Mrs. Crabb arrived on the mainland from Hawaii in 1957, he went to work in the Industrial Relations Office of the Marine Corps Supply Center in Barstow, California. A few miles to the northeast in the colorful Calico mountains was the ghost town of Calico, site of several prosperous silver mines in the late Nineteenth Century. Like any other eager tourists, we visited the place several times while living and working in Barstow, on the high desert, but we could never get a satisfactory answer from anyone as to why the mines closed down; for apparently plenty of silver is still there in the ground for the taking. Several years later, in reading Chapter VII of John Elsom's book, we found the answer and here it is. Hope you enjoy it!)
Silver Demonetized. During the period in which the bankers, by the powers given them by the National Banking Act of 1863, were collapsing the currency of the Nation from $54.46 per capita down to $14.60, they were scheming another method whereby the people could be further impoverished and the bankers' control strengthened.
In 1816, in England, the Rothschilds had succeeded in having silver demonetized as a base upon which currency could be issued. Gold was made the only base for the issuance of paper money. They and their stooges in America decided, in 1872, to have silver demonetized in the United States. This was desirable to the Rothschilds because England had very little silver, but much gold, while America had much silver and very little gold. The bankers on both sides of the Atlantic knew that so long as currency was based on silver in America they could not obtain absolute control of the money system in this Nation. (And silver money does not pay interest to the bankers! RHC.)
They laid their plans in a most subtle manner. They sent paid emissaries to America with vast amounts of money with which to bribe the right persons in Congress. In 1873 a harmless looking Bill, entitled "A Bill to Reform Coinage and Mint Laws" was introduced. It was a voluminous document. Much verbiage concealed the meaning of its contents. The title itself, as intended, was most misleading.
The Bill was sponsored by Senator John Sherman, who -- you will remember -- figured in a banker's letter in the preceding chapter, [2] and by Congressman Samuel Hooper, According to the Congressional Record, Senator Sherman said:
"I rise for the purpose of moving the Senate to proceed to the consideration of the Mint Bill. I. will state that this Bill will probably not consume any more time than it takes to read it. It passed the Senate two years ago, after a full debate. It was taken up in the present House and passed there. It is a matter of vital interest to the government, and I am informed it should pass promptly."
After a short debate, in which Sherman assured the Representatives that the Bill only affected the manner in which silver should be coined in the government mint, it was passed without a dissenting vote. It was not until three years later that the full import of the bill was realized. It proved to be a camouflaged bill to demonetize silver so that the currency in the Nation could be further contracted -- and the bankers gain more complete control of our money system. It was, perhaps, the greatest fraud ever perpetrated on Americans, the far reaching results of which we will consider shortly.
General Grant, who, as President, signed the Bill, stated, after the fraud had been discovered, that he had signed the document without reading it on the representation that it was merely a bill to reform coinage and mint laws, and had no intimation that it demonetized silver. According to the Congressional Record, none but the members of the Committee which introduced the Bill understood its meaning.
To what power, or influence, was the Committee subjected that those composing it should become traitors to the high office they held and to the people whom they represented?
Ernest Seyd -- a supposed authority on the coining of money, and a representative of the Bank of England -- was sent by that Bank (to America) in the winter of 1872-73, with 100,000 pounds sterling in his pocket. He had the authority to draw on the Bank for as much more as was required to accomplish the Bank's objective. He was invited to sit with the Committee and to offer his assistance in the drafting of the Bill "To Reform Coinage and Mint Laws".
According to his own statement, made to his friend, Mr. Frederick A. Luckenbach, of Denver, Colorado -- who under oath has given us the story -- he said: "I saw the Committee of the House and Senate and paid the money and stayed in America until I knew the measure was safe."
Congressman Samuel Hooper, when introducing the Bill in the House on April 9, 1872, stated: "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 the Bill." (Congressional Globe, April 9, 1872.)
Thus we see that this representative of Rothschild's Bank -the Bank of England -- Mr. Ernest Seyd, did not only supply the cash motive for this Nation's representatives to sell the Nation down the river, but he also furnished a liberal portion of craftiness while the Bill was being drafted. To even the casual observer it is quite obvious that the banking institutions of America are but subsidiary branches of the notorious Bank of England and that the combined unscrupulous, unpatriotic and undemocratic banking fraternity, operating as they do -- outside and above the law -- are masters of industry, trade and commerce, and lords of the universe.
SATAN'S FALLEN ANGELS AT WORK
When the people's representatives got around to reading the enacted Bill to Reform Coinage and Mint Laws, they found that the "Crime of 1873" had been committed. Silver had been demonetized in America -- and with what tragic results! It was not until 1878 that the bankers had the nerve to show their hand by beginning to exercise their privileges under the Act -- the destruction of money -- but when they began, they prosecuted their maniacal job with Satanic zeal.
In 1878 the per capita currency in circulation was withdrawn and destroyed from $14.60 down to $11.23. This resulted in 10,478 business failures and multitudinous property foreclosures. In 1879 the issuance of coin by Congress brought the circulating medium up to $12.65, which reduced failures from the preceding year to 6,658. But in 1882 the hideous program of bringing the Nation to its knees so it could be delivered into the hands of the money creating, interest-taking, mortgage-foreclosing Shylocks was renewed and prosecuted with fiendish determination and skill.
During the next five years (1882-1887), the per capita money in circulation was reduced from a meagre $12.65 to $6.67. During the 14 years in which money was being destroyed under the Bill "To Reform Coinage and Mint Laws", (1878-1892), there were no fewer than 148,703 business failures in the Nation -- an average of 9,986 annually, with the resultant profits to the Bankers, through the acquiring of those properties, together with a proportionately greater number of farms and homes. (Now we can see how and why English "investments" in America had reached the staggering total of over $2 billion by World War II, picked up cheap by foreclosures and banker-created depressions since 1872. And all of these ill-gotten gains were blown away in the mortal struggle to save England from capture by the Germans. RHC.)
Although business was ham-strung by the shortage of money, high interest rates and high taxes, and although unemployment was general, with the wages of the few who worked extremely low and hours long, the avaricious money masters were not yet satisfied. Their object then was the same as now -- the absolute control of the Nation. On March 11, 1893, the American Bankers Association issued its famous (or infamous) panic circular of 1893. It was addressed [4] to all bankers and read as follows:
"Dear Sir: The interest of the National Banks requires immediate financial legislation by Congress. Silver certificates and Treasury notes must be retired, and National Bank notes upon a gold basis made the only money. This will require the authorization of-new bonds in the' amount of $500,000,000 to $1,000,000,000, as the basis of circulation. You will at once retire one-third of your circulation and call one-half your loans. Be careful to create a money stringency among your patrons -- especially among influential business men. The life of the National Banks, as fixed and safe investments, depends upon immediate action as there is an increasing sentiment in favor of government legal tender notes and silver coinage."
The command was obeyed immediately and implicitly. Loans were called. The ordered money stringency was created and the "Panic of 1893" was on. The great Commoner and Statesman, William Jennings Bryan, fought desperately for the free coinage of silver at a ratio of sixteen ounces of silver to one of gold -- but the people, under the influence of their bankers (who they foolishly did not suspect of treason), refused to be enlightened on the money racket. His was a voice "crying in the wilderness", and he was crucified on a cross of gold. From Judge P.E. Gardner's book, "Our Money System" -- which contains a wealth of valuable information -- I quote the following:
"The money trust knows no God but Mammon. It declares allegiance to no country. It cares not who are elected to office so long as it creates the money and regulates the value thereof."
(From the Fifth Edition, Copyright 1941, of John R. Elsom's "Lightning Over The Treasury Building", Meador Publishing Company, Boston, Massachusetts.)
***
In a previous edition of the Journal we noted that the Prime Minister of India, Mrs. Indira Gandhi, had begun to nationalize the privately owned and operated "national" banks of India. Now a South American nation, Peru, is going even further. In the LA "Times" for June 28, 1970, we read: "Even in the present (earthquake) emergency, however, the military leaders have not lost sight of their goals. Less than two weeks after the quake, Gen. Francisco Morales Bermúdez, the minister of finance and economy, took over the nation's second largest bank as the second phase of a sweeping reform program. Their first step had come late in May with strict new controls on foreign exchange dealings. The government is now deeply involved in banking and credit . . ."
These dedicated and patriotic political leaders know that there can be no permanent solution to the economy and social problems of their nations until control of money and credit is in the hands of those who represent the people. The draining off of wealth into alien and foreign hands must be stopped.
References
- Elsom, John R. Lightning Over the Treasury Building: Or, an Exposé of Our Banking and Currency Monstrosity - America's Most Reprehensible and Un-American Racket. Boston: Meador Pub. Co, 1941. Print. <http://amzn.to/1s4nJgT> [Digital: <http://catalog.hathitrust.org/Record/003948121>]
- United States Congress (1873), Act revising and amending the Laws relative to the Mints, Assay-offices, and Coinage of the United States. 42d Congress, 3d Session, Ch. 131, 17 Stat. 424. [Coinage Act of 1873], <http://fraser.stlouisfed.org/publication/?pid=1095>
- Gardner, Preston E. Our Money System: An Amazing Story of Conspiracy, Bribery and Intrigue by which the Citizenship of the World Has Been Enslaved and Exploited. The Maker of Wars and the Destroyer of Kingdoms is Revealed in the Light of God's Word. Los Angeles, 1938. Print.