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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 XVII This Must Be Done First

. . . and the core of it is that our oil men have gone in and practically taken over Canada's oil and gas resources . . . not as men bent on pouring wealth into Canada but with a definite purpose of siphoning her wealth out of Canada. Were these men dominated with a desire to see Canada enjoy her natural resources, they would go with their know how, and not with their "power of dollars," and that almost ideal relationship which has existed since we gained our independence, would be reaching new glories. I am not concerned about what other nations think about us, so much as I am about what we think of ourselves. I believe that when we set up an ideal democracy here, the rest of the world will seek to emulate us. The Congress of the United States can create money and keep the people's deposits and cash and clear their cheques, as a "public service," directed toward meeting the conditions of our "general welfare," without special favours to anyone, with all citizens enjoying an equal service, as they administer the post office business. They would no more think of denying the smallest citizen enjoyment of the privilege of borrowing money than they would think of denying the smallest citizen the privilege of sending a letter through the mails. That's why the Constitution provides that; Congress shall have the power to coin money and regulate the value thereof. The battle is not against past leaders and present leaders, nor do we have to concern ourselves about foreign powers. . . our task is a simple, practical one . . . let Congress take back the power to coin money and regulate the value thereof, which they have so carelessly entrusted to men who are impelled by an acquisitive mind, with all love of mankind shoved far back into the limbo of forgotten things. Congress can set this house of money in order. Congress must set this house in order. Nothing else will meet the issues of life; nothing else in life can grow to full fruition until this is done. This is not a political issue. There is no ground for thinking as a liberal or a conservative, as a democrat or a republican. This is not a battle between the rich and the poor. It is meeting that standard of the "general welfare" we all subscribe to and proclaim as the goal of America.

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