Category: Aftermath: Despotism

Undermining the Constitution

Thomas J. Norton notes below in 1951 that Congress has no authority to “lend money or to give it away” – and cites James Madison’s warning of paper barriers being insufficient to stop evil persons in government. Jefferson Davis stated in 1881: “Of what value then are paper constitutions and oaths binding officers to their preservation, if there is not intelligence enough in the people to discern the violations, and virtue enough to resist the violators?”

Bernhard Thuersam, Circa1865.com

 

Undermining the Constitution

“The Constitution gives power to Congress (1) “to coin money” and (2) “to borrow on the credit of the United States” — but not to lend money, or to give it away, either at home or abroad.

What is expressed in a Constitution is equivalent to a prohibition of what is not expressed. The powers over money mentioned are the only ones that the Constitutional Convention brought in from the world of inherent powers and fixed in the Fundamental Law.

Those specifications reject the theory of unlimited powers exercised by European monarchs in 1787. Not long before that, Louis XIV had kept Europe embroiled in wars by loans or grants of money to belligerent rulers. Did the Constitutional Convention, at least one member of which was born in his reign, intend to give that power to Congress? It did not say so. The power was therefore withheld by the people from their servants.

The United States is now, without authority — under a denial of authority — lending or granting money to Europe, and to the rest of the world. Postwar programs, twenty-two in number, for aiding foreign nations, in addition to the military aid program, have piled on top of the costs [330 billion] of [World] War II $30,757,000,000, according to Senator Byrd of Virginia, speaking in September 1949.

Thus, the limitations of the Constitution become what Madison gave warning of — “paper barriers.”

(Undermining the Constitution: A History of Lawless Government, Thomas James Norton, Devin-Adair Company, 1951, page 22)

Union Captain Murrey’s Toast

Northeastern North Carolina suffered enemy occupation early in the war – those that could left the area. The occupation troops had little consideration for the African race they were emancipating, and seemed to consider the people of North Carolina their subjects and whose land would become resorts for Northerners.

Bernhard Thuersam, www.Circa1865.com

 

Union Captain Murrey’s Toast

“With their young men away at war, Washington and most of Beaufort County came under the heel of the Union Army. They found the town evacuated by its defenders and abandoned by about three-quarters of its inhabitants. All who could possibly leave, and find refuge with friends and relatives further inland, had done so.

The occupation force included units of the 24th Massachusetts Cavalry; 3rd New York Artillery; 3rd New York Cavalry; and some Marine artillery. Gunboats anchored across the river, off the town. Union forces continued to occupy Washington from the end of March 1862, until 20 April 1864.

On March 30, Captain Murrey, commander of the gunboat Commodore Hull, invited six of the older men who had remained in Washington, to dinner on his vessel. He is alleged to have gotten them drunk, then proposed a toast: “To the reconstruction of the Federal Union, a plantation in Georgia with a hundred niggers, and a summer residence in North Carolina.” It is recorded these men all drank with zest to this toast.

During this period, conditions in Washington were growing steadily worse. Older men who were compelled to remain with their business, had sent their wives and families away. Food was scarce. Though the freed Negroes who had collected in the town were given better food than the inhabitants could procure, bands of these Negroes roamed the streets at night, pillaging and stealing. Strong protests were made by the representatives of eastern North Carolina to President Davis, to return North Carolina troops from Virginia, to clear Union forces from their homes.”

(History of Beaufort County, C. Wingate Reed, Edwards & Broughton, 1962, pp. 184-188)

Audacious Caesars and Test Oaths

On December 7, 1861, former Governor William A. Graham of North Carolina spoke in Convention in opposition to his State requiring a test oath for its citizens. In April 1865, after being overwhelmed by military force,  North Carolinians were forced to swear an oath to the government of the United States, and could not conduct business nor public affairs without taking this oath.

Bernhard Thuersam, www.Circa1865.com

 

Audacious Caesars and Test Oaths

“Mr. President, if this Convention, like a French National Assembly, were to declare itself in permanent session, and abrogate all the powers of government, it would give no greater shock to public sentiment, and make no more dangerous stride towards despotism, than would be effected by this [test oath] ordinance.

What, then, will be their surprise, not to say indignation, if this ordinance shall pass, and they are told that no man can ever vote again – nay, that no man will be allowed to remain in the State, but everyone will be exiled who does not take an oath that the Convention has ordained?

Sir, every North Carolinian rejoices in the idea, that, like St. Paul, he was free-born. And, although his freedom was purchased at a great price, no less than the blood of his fathers shed in every battle-field of American independence, from the shores of the Hudson to the everglades of Florida, it came to him as an inheritance, the more valued, because of its association with his ancestral pride and glory.

His right to dwell in and breath the pure air of the land of his birth; his right to participate in the election of rulers, and, if it suit his inclination and the will of the majority, to be himself invested with a portion of the powers of the republic, he will suffer neither to be taken away nor trifled with.

He did not acquire them by an oath, and he will spurn any oath offered to him as a condition of their continued enjoyment. It is one of those blunders characterized by Talleyrand as worse than a crime, for statesmen by their measures will encroach upon and offend so sacred a feeling as the pride of nativity – the self-respect and manhood of a high-spirited and free-born American.

Sir, the people when presented with this oath, will turn upon this Convention, and inquire “upon what food have these our Caesars,” at Raleigh, “fed, that they have grown so great?” We thought they were our servants; how have they become our masters?

We had a free election according to the usages and Constitution of our fathers when we chose them as our representatives; by what legerdemain, by what audacity, do they declare that we shall never vote again . . . nor inhabit our present homes, but shall be driven out as fugitives and vagabonds, unless we take an oath that they have dictated?

We render to the government our loyalty and duty, as we cherish and support our wives and children, and perform other obligations as members of society; but we will take no oaths upon compulsion, to bind us to those duties, and least of all, an oath that is accompanied by the polite alternatives of exile or degradation.

Mr. President, the very mention of a test oath carries us back to the “bigot monarchs and the butcher priests” of the days of the Tudors and Stuarts, and beyond these, to the Inquisition itself. It is a device of power in Church and in State, to perpetuate itself by force, against free discussion and inquiry, and in defiance of what in more liberal times we call public sentiment.”

(The Papers of William A. Graham, Volume V, 1857-1863, J.G. Hamilton, Max Williams, editors, NCAH, 1973, excerpts, pp. 314-317)

 

The Union League of the Republican Party

In the midst of the mostly inflammatory influence of the Republican’s Union League upon the freedmen, the Ku Klux Klan emerged in the immediate postwar. To underscore the Union League’s destructiveness, an 1870 Congressional Committee report provided this indictment of Republican rule over the conquered South: “[The] hatred of the white race was instilled [by the League] into the minds of these ignorant people by every art and vile that bad men could devise; when the Negroes were formed into military organizations and the white people of these States were denied the use of arms; when arson, rape, robbery and murder were things of daily occurrence, . . . and that what little they had saved from the ravages of war was being confiscated by taxation . . . many of them took the law into their own hands and did deeds of violence which we neither justify or excuse. But all history shows that bad government will make bad citizens.”

Bernhard Thuersam, www.Circa1865.com

 

The Union League of the Republican Party

“The nocturnal secrecy of the gatherings, the weird initiation ceremonies, the emblems of virtue and religion, the songs, the appeal to such patriotic shibboleths as the Declaration of Independence, the Constitution, the Flag, and the Union, the glittering platitudes in the interest of social uplift — all these characteristics of the League had an irresistible appeal to a ceremony-loving, singing, moralistic and loyal race. That the purposes of the order, when reduced to the practical, meant that the Negro had become the emotional and intellectual slaves of the white Radical did not dull the Negro’s enthusiasm, he was accustomed to be a slave to the white man” [South Carolina During Reconstruction, Simkins & Woody, page 7].

The Union League gave the freedmen their first experience in parliamentary law and debating . . . the members were active in the meetings, joining in the debate and prone to heckle the speakers with questions and points of order. Observers frequently reported the presence of rifles at political rallies, usually stacked in a clump of bushes behind the speaker’s platform, sometimes the womenfolk left to guard them.

In the autumn of 1867, a League chapter made up mostly of blacks, but with a white president named Bryce, was holding a meeting with its usual armed sentries on the perimeter. When a poor white named Smith tried to enter the meeting, shots were fired; there followed a general alarm and, subsequently, a melee with a white debating club nearby. The Negroes rushed out; Smith fled, hotly pursued to the schoolhouse; the members of the debating club broke up in a panic and endeavored to escape; a second pistol was fired and a boy of fourteen named Hunnicutt, the son of a respectable [white] citizen, fell dead.

[Carpetbagger John W. De Forest wrote]: “The Negroes, unaware apparently that they had done anything wrong, believing, on the contrary, that they were re-establishing public order and enforcing justice, commenced patrolling the neighborhood, entering every house and arresting numbers of citizens. They marched in double file, pistol in belt and gun at the shoulder, keeping step to the “hup, hup!” of a fellow called Lame Sam, who acted as drill sergeant and commander. By noon of the next day they had the country for miles around in their power, and the majority of the male whites under their guard.”

(Black Over White, Negro Political Leadership in South Carolina During Reconstruction, Thomas Holt, University of Illinois Press, 1977, pp. 29-32)

 

Union Saved for Republican Party Hegemony

With the South out of Congress since 1861 and no Southern leadership to provide a conservative and responsible voice in US government, the predictable occurred. As a soldier Grant was a butcher who sent wave after wave of new recruits to wear down the thin Southern brigades; as a politician, Orville H. Browning of Illinois described Grant as “weak, vain, ignorant, mercenary, selfish and malignant”; that he was surrounded by corrupt and unprincipled men and that his reelection would be a great calamity to the country.” Grant’s election in 1868 was achieved with a few hundred thousand freedmen votes, they herded to the polls by the Republican’s terrorist Union League.

Bernhard Thuersam, www.Circa1865.com

 

Union Saved for Corrupt Republican Party Hegemony

“The eight years of Grant’s administration rocked with one scandal after another. Citizens defrauded the government in the acquisition of land and in claims for [Northern veteran] pensions; contractors supplying the army and navy were often venal; and unscrupulous lawyers levied toll on ignorant and defenseless Indians.

Members of Congress were bribed and disgraced. Cabinet officers were investigated and impeached. Subordinate officials and employees were revealed in outright betrayal of public trust. Never had the Republic sunk to so low an estate of official morality.

During the 1870s there was both incompetence and dishonesty in the large customhouses; discipline and integrity among the navy-yard labor forces were at a low ebb; the Indian service had been roundly condemned by [James] Garfield; land agents connived at irregularities, and surveyors made fraudulent claims for work not performed.

The tone of the eight years of Grant’s administration was . . . set by a small number of weak and unreliable persons holding seats in Congress and in high executive office. It was during these years that the most resounding scandals occurred, not only in Washington but in many States and cities. When the mighty wandered far from the paths of rectitude, it was not surprising that some of the lesser ranks followed their example.

To a few of the scandals we turn . . . The Credit Mobilier . . . originally organized to finance railroad construction, [it] fell into the control of a group of adventurers, including a member of Congress, Oakes Ames. The corporation was awarded a lucrative but fraudulent contract for the . . . [Union Pacific Railroad and disgraced Grant’s] Vice Presidents Colfax and Wilson.

Laxness or corruption in the award of Indian trading posts had been suspected for some time under General [William] Belknap’s administration of the War Department. [Secretary of the Navy George M. Robeson levied] percentages on . . . contractors’ engagements with the navy, [and] Robeson grew rich. [Secretary of the Treasury John D. Sanborn, a protégé of Benjamin Butler, siphoned money destined for the Internal Revenue Service].

The most dramatic and perhaps the most damaging evidence of corruption during the Grant administration involved the evasion of internal revenue taxes on distilleries. Fraud had long been suspected [and persons involved] included General John A. McDonald, collector of internal revenue in St. Louis . . . other collectors, the chief clerk of the internal revenue division of the Treasury Department in Washington [and] General Orville Babcock, President Grant’s private secretary, who was subsequently indicted but who escaped conviction.”

(The Republican Era, 1869-1901, A Study in Administrative History, Leonard D. White, Macmillan Company, 1958, excerpts pp. 366-373)

Occupied Richmond, July 4th 1865

Richmond citizens quietly observed Independence Day, 1865 with enemy troops occupying their city — celebrating their triumph in vanquishing the American defenders of that city.

Bernhard Thuersam, www.Circa1865.com

 

Occupied Richmond, July 4th 1865

“The 4th of July may be said to have been celebrated in Richmond this year. Cannon were fired at morning, noon and night. A few Chinese crackers were fired off by vagabond boys, white and black, at the corners of the streets in the early morning and in the evening, their pyrotechnic resources, I take it, being too scanty not to make it advisable to husband them to closely.

In the morning, a flag was hoisted on the Spottswood Hotel, and a short speech made from the roof of the building by [occupation forces commander] General Osgood. Somewhat later in the day a small crowd, made up mainly of Negroes and Union soldiers, with a sprinkling of citizens and children, congregated in the Capital Square. A lady was introduced to the assembly and read the Declaration of Independence, but in so low a tone and amid such noise of talking and walking about as made it quite impossible for anyone to hear her. The conclusion of her reading was marked by music from a military band which was in attendance.

Speeches were then made by a surgeon and two chaplains, and after a benediction the company dispersed. No applause was elicited by any of the speakers. The soldiers evidently were in the character of onlookers; the Negroes were doubtful if they were expected to applaud or would be allowed to do so (they were carefully removed by the soldiers detailed as police from the crowded steps near the speakers’ stand); and as for the citizens — to ask any men, Unionist or secessionist, to hear such speeches and applaud them would be asking too much.

All places of business were closed throughout the day, but the city wore no holiday aspect. That part of the rebel population which appeared in the streets were seemingly indifferent spectators of what went on around them. The boys and the Negroes, and the Union soldiers in a graver way, alone seemed to enjoy the occasion.”

(The South As It Is, 1865-1866, John Richard Dennett, Viking Press, 1967, pp. 9-10)

Vandals and Goths at Chapel Hill

The University of North Carolina survived the war but found itself in desperate condition when Northern carpetbaggers and local scalawags assumed control of State government in 1868. Historian Hugh Talmage Lefler wrote: “Lack of public confidence, financial support, and students closed the University in 1870. A student expressed it graphically when he wrote of a classroom blackboard: “Today this University busted and went to hell.” The University was reopened in 1875 after North Carolinians regained political control of their State.

Bernhard Thuersam, www.Circa1865.com

 

Vandals and Goths at Chapel Hill

“Of the seventy-eight new Trustees of the University, only four had been members of the former Board, and they were men who had seldom attended meetings of the Trustees and really cared very little about the fate of the University. At the meeting of the new Board in Raleigh, in June 1868, several names were brought forward for the presidency.

After several days of travail the Board brought forth Mr. Solomon Pool, a native of Elizabeth City, North Carolina . . . To be sure, he had no “established reputation” for scholarship, though he was a man of some ability. Immediately after the close of “The War” in 1866, Mr. Pool had resigned his position as Tutor in the University to take a job as a Deputy Appraiser in the Revenue Service of the hated Reconstruction Government, allying himself with the Republican party.

The word “opportunist” had not been invented, but “traitor,” “renegade,” and “apostate” were freely hurled at his complacent head. Mr. Joseph [Engelhard], editor of the Wilmington Journal, said in one issue of his paper that the University was “infested with pismires” (termites?) and the very next week he wrote that it was “presided over by nincompoops.”

The Board of Trustees had its own troubles in forming a new faculty. Mr. S.[S]. Ashley, a Massachusetts Yankee, who was Superintendent of Public Education, placed a relative, James A. Martling, in the “Chair of Belles Lettres,” whatever that means. The Martling family occupied the house recently made vacant by my grandfather’s death, and June Spencer and I, living next door, watched with scornful eyes the daughters of the family . . . with their village beaux on the piazza or strolling in the moonlight, but there was no communication between us.

George Dickson, Professor of Agriculture, was a Friend from Philadelphia who came South as a missionary to the Negroes. He brought Bibles, Testaments, and hymn books from the good Quakers of his city, a fine and generous gesture – if only the recipients had been able to read. Friend Dickson went to England to inquire into some new ideas in agriculture for the benefit of the South. He never came back.

During the first year of the Reconstruction Administration there were thirty-five students in attendance . . . just little bare-foot boys from the village and the adjoining country, with their home-made breeches held up by a string across one shoulder, and their dinner in a little tin bucket. Now and then a small black face appeared among them. None of them knew what it was all about. It was just a grand frolic for them to be “goin’ to college.”

Nor were the pupils altogether appreciative of their advantages. We find one A.J. Banks haled before the faculty for non-attendance upon his classes. His excuse was that he did not want to study Greek, nor did he want to stay in college with “them Yanks.”

The grim record shows that the Archives of the Literary Societies were broken into and their contents scattered. A box of Siamese curios presented to the University by the Reverend Daniel McGilvary, a Presbyterian missionary to Siam, was broken, and objects of rare beauty and great value stolen or destroyed. Scientific apparatus was smashed into bits, and great damage was done to the buildings and libraries of the University . . . owls and bats flew in the broken windows of the buildings, the campus was a jungle of weeds, cattle and hogs roamed the unlighted streets at night.

From a charming, dignified home of cultured people, who enjoyed a gracious society, Chapel Hill had become a desolate, silent wilderness. Even the strangers who composed the puppet faculty disliked each other, the village, the State, and the institution they were expected to serve.”

(A Rare Pattern, Lucy Phillips Russell, UNC Press, 1957, pp. 45-49)

Northern Vandals Liberate Wilmington Furniture

Considered one of Wilmington, North Carolina’s antebellum architectural treasures, the Dr. John D. Bellamy mansion was seized by Northern General Joseph R. Hawley in February 1865 for use as his headquarters while occupying the city — ironically, Hawley was a native North Carolinian. Bellamy’s daughter Ellen was a young girl at the time and later recalled vivid memories of the enemy invasion.

Bernhard Thuersam, www.Circa1865.com

 

Northern Vandals Liberate Wilmington Furniture

“The Federal troops captured Wilmington on February 21, 1865; they took possession of our home, which we had temporarily vacated, and it remained General Hawley Headquarters a long time, even after Lee’s surrender. It was very galling . . .”

[Mother] came up to own dear house, accompanied by a friendly neighbor . . . who was related to General Hawley, and had offered to introduce her. It was most humiliating, and trying, to be entertained by Mrs. Hawley, in her own parlor. Mrs. Hawley showed her raising by “hawking and spitting” in the fire, a most unlady-like act. During the call she offered Mother some figs (from Mother’s own tree) which Aunt Sarah had picked — our own old cook, who had been left there in charge of the premises.

My father made several trips to . . . Washington City before they would grant him his “Pardon.” For what? For being a Southern Gentlemen, a Rebel, and a large Slave Owner! The slaves he had inherited from his father, and which he considered a sacred trust. Being a physician, he guarded their health, kept a faithful overseer to look after them (his home being a regular drug store), and employed a Methodist minister, Rev. Mr. Turrentine, by the year, to look after their spiritual welfare.

Although the war was practically over seven months, we did not get possession of our home ‘till September. [T]he beautiful white marble mantles in the two parlors were so caked with tobacco spit and garbs of chewed tobacco, they were cleaned with great difficulty; indeed, the white marble hearths are still stained . . . No furniture had been left in the parlors . . . On leaving here, the Yankees gave [the] furniture to a servant . . .” In our sitting room, our large mahogany bookcase was left, as it was too bulky for them to carry off; but from its drawers numerous things were taken, among them an autograph album belonging to me brother Marsden.

A number of years later, when my brother John was in Washington as a member of Congress, this same Hawley, then a senator from Illinois, told him of the album “coming into his possession” when he occupied our house, and said he would restore it to him. However, he took care not to do it, although repeatedly reminded.”

(Back With The Tide, Memoirs of Ellen D. Bellamy, Bellamy Mansion Museum 2002, pp. 5-8)

The Anticipated Profits of Next Year’s Pay Checks

Lincoln instituted a national banking system which “developed into something that was neither national nor a banking system” and more represented a loose organization of currency factories “designed to . . . [serve] commercial communities and confined . . . almost entirely to the New England and Middle Atlantic States.” This system was more concentrated in New York and fraught with abuses, and superseded by the even more abusive Federal Reserve Act of 1913.

Bernhard Thuersam, www.Circa1865.com

 

The Anticipated Profits of Next Year’s Pay Checks

“July 3, 1930

Mr. McFadden: “Mr. Speaker and gentlemen, time and events have arrived at a point where we should no longer deceive ourselves concerning the business situation. Continued statements of unfounded optimism will have only an unhappy effect upon the minds of millions of our citizens who are now unemployed and who, in the circumstances, must continue to be unemployed for many months to come. The economic condition in which we find ourselves is too sustained and deeply seated to be met by pronouncements that it does not exist.

Let us face the truth – that we and the world are undergoing a major economic and business adjustment which is and will be both drastic and painful. These consequences will be particularly severe in the United States, because they will force many people to recede from the standards of living and expenditure attained during the past 14 years.

Some part of this condition is the natural consequence of the operation of basic economic laws which function with little regard for human legislation. A large part is due to mismanagement of our national affairs. A still larger part is due to a deliberately contrived and executed program which has as its object the impoverishment of the people of the United States.

The end of the World War found us with a greatly expanded industrial and credit structure, to large, by far for the requirements of our national needs as the latter existed before the beginning of the war period of abnormal consumption. It was clearly a time to halt and to analyze fundamental economic facts. We did not do this.

Rather we chose to proceed with our abnormal production and to stretch the limits of credit still further. War production and its profits had made Americans drunk with power, and ambition for more power. Luxuries developed in the disorganization of war became necessities with the reestablishment of peace.

The American peop0le entered upon a decade in which the whole structure of their lives was to be passed upon the principle of discounting the future. A vast system of installment credit sprang into life almost overnight, aided by the optimism of the Federal Reserve system. The automobile industry expanded more rapidly and to greater size than any industry had expanded in history.

The public was encouraged by advertising and propaganda to buy beyond its immediate means. Further industrial expansion was financed by the same expansion of credit which made installment buying possible. Consumption was expanded and financed upon the consumer’s promise to pay and production was expanded upon by capitalizing the producer’s hope that the consumer would keep that promise.

In the period between 1920 and the present time we experienced the full use and purpose of the credit machinery built up with the Federal Reserve system. It was but a logical development that anticipated profits should be capitalized as anticipated production and consumption had been capitalized – and that the Federal Reserve system should in turn finance tis capitalization of anticipated profits.

The entry of millions of Americans of moderate means into stock-market speculation [was] a natural consequence of the policy of expansion to which we had committed ourselves. It was also a logical development that the Federal Reserve should expand broker’s loans to make possible a huge inflation of the business of speculating in securities on margins.

All this brought the country to a point where the individual was living beyond his personal means, buying more than he could afford on his hope that he could afford to pay for it in the future and then speculating in the hope that he could make enough profit to pay his debts when they came due. In brief, the greater part of the American business structure was built upon the anticipated profits of next year’s pay checks.”

(Basis of Control of Economic Conditions, the Collective Speeches of Congressman Louis T. McFadden, Omni Press, 1970 pp. 64-66)

McFadden and the Federal Reserve

Congressman Louis T. McFadden of Pennsylvania was Chairman of the House Banking and Currency Committee in 1932, and a staunch opponent of the Federal Reserve. Along with Congressman Charles A. Lindbergh, Sr. he fought the Federal Reserve Act in 1913 and conducted one of the first investigations of the banking and money trust in Congress. The path to the Federal Reserve act began with Lincoln who admitted that “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 on the prejudices of the people until wealth is aggregated in the hands of a few and the Republic is destroyed.” Lincoln destroyed the Republic with war, invasion, fiat money and the marriage of business and government.

Bernhard Thuersam, www.Circa1865.com

 

McFadden and the Federal Reserve

“Friday, June 10, 1932

Mr. McFadden: Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt.

This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.

Some people think the Federal Reserve Banks are United States Government institutions. They are not Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.

In that dark crew of financial pirates there are those who would cut a man’s throat to get a dollar out of his pocket; there are those who send money into States to buy votes to control our legislation; and there are those who maintain an international propaganda for the purpose of deceiving us and of wheedling us into the granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.

Those 12 credit monopolies were deceitfully and disloyally foisted upon this country by bankers who came here from Europe and who repaid us for our hospitality by undermining our American institutions. Those bankers took money out of this country to finance Japan in a war against Russia.

They created a reign of terror in Russia with our money in order to help that war along. They instigated a separate peace with Germany and Russia and thus drove a wedge between the allies in the World War. The financed Trotsky’s mass meetings of discontent and rebellion in New York. They paid Trotsky’s passage from New York to Russia so that he might assist in the destruction of the Russian Empire.

They fomented and instigated the Russian revolution and they placed a large fund of American dollars at Trotsky’s disposal in one of their branch banks in Sweden so that through him Russian homes might be thoroughly broken up and Russian children flung far and wide from their natural protectors. They have since begun the breaking up of American homes and the dispersal of American children.”

(Collective Speeches of Congressman Louis T. McFadden, Omni Press, 1970 pp. 298-299)