control of the creation of money, and fixing its purchasing power. The first Article of the Constitution, and the very first Section says:
"All legislative powers herein granted SHALL BE vested in a Congress of the United States . . . " Sections 2, 3, 4, 5, 6 and 7 constitute the Congress, and the 8th Section enumerates SPECIFICALLY the powers of Congress; and the first power mentioned is "money" "lay and collect taxes," and the second, "borrow Money,"
and the 5th:
"To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures."
Memorize that section; for it must ever be in your mind, as you study banking, money, your place in the system. I shall prove to you that we must eliminate the banking corporations from the creation, circulation, and control of money; and confine them to "lending only the deposit credits" to their credit on the books of the United States Depositories in absolute control of the Treasury of the United States, with the hand of Congress guiding every step and act in the business of providing the Nation its money supply — even the lending of deposits. The trouble with bank deposits is that they are created in too large volume by private corporations for the corporations' gain, and incidentally usable as a "medium of exchange." We have had this sort of money since Andy let Nick taunt him into killing the Second Bank of the United States, first in small quantities, as Gold and Silver. Even at that late date coins were shuttling about in an effort to meet the fluid demands of money; while today personal cheques are used in over 90 percent of our monetary payments. We might wink at the Congress's farming out the public credit to private banking corporations, and giving them absolute (almost) control of the creation of money and the control of its circulation, and credit, if they did not hog the wealth of the Nation "with phoney