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nydus/The Legalized Crime of BankingPublic

Silas Walter Adams critiques the Federal Reserve Banking System, arguing that its monetary policies have significantly inflated the costs of war and national debt. The book examines the historical impact of private banking practices on the American economy and proposes a constitutional alternative for the management of the nation's money supply.

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Table of Contents

Chapter XI More of the Steps in the Creation of Money

under the Tzar were vassals of princes who owned the lands and the villages and cities. These vassals worked for the barest necessities of life-stones on the great estates. We are headed back to that situation. This cheap, phoney dollar bankers are flooding the nation with is being used to buy up the land, and thousands of families are being driven from the land, into the slums of cities, to be a burden on the Government. The 19 Reserve men (they claim legal authority) symbols of the Russian regime, hold the power of life and death over us all. We use different terms to describe our activities, but they are parallel with Russian power and disregard of the rights of the masses. The power of these men, the destructive influence of the phoney dollar, will be swept away, and only the honest, eager-toserve-mankind associations of men will be able to survive, and they shall prosper because the Congress will see that no legitimate enterprise, essential to the well-being of the Nation, will suffer for lack of funds. Spurious insurance companies, faking trust companies, innumerable 'trust estates, and the gambling in stock markets, wheat pits, cotton markets, the casinos — these barnacles on our ship of state will be roughly scraped off that the old "Constitution" may again sail grandly and proudly in the sea of nations.

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