Chapter VI Money — Our Greatest Problem

money." Under the Federal Reserve Act, bankers, private corporations formed strictly for private gain, use the credit of the United States (its vast natural and material resources, its vast industrial and commercial activities, its resourceful planning, its eager, know-how man power, its, most democratic government poorly umpiring) to the hurt of the masses, the toiling, labouring, planning workers. The banking practices, given unlimited powers over money under the Federal Reserve Act, empowers them to expand or contract the flow of money at will, on a moment's notice, which either gives us "good times," or puts us in the bread line. How true Ex-Congressman Callaway's statement to me in 1933: "I voted against the Federal Reserve Act of 1913, because it gives the bankers the power of life or death over every man, woman and child in the Nation." The mechanics of money are so simple, when shorn of all the lengthy "red tape" bankers use to obscure money! The best money the world has discovered, as I have and shall often repeat, is "deposit credits, transferable by cheque, wherewith people make the bulk of their monetary payments." The Federal Reserve