and ranches, and on finding he could buy all his neighbours' products of their farms and ranches with his IOUs, and resell them for double what he paid for them and get gold, he quit farming and ranching, rented them to tenants, moved to the city, entered politics, corrupted the Congress, hiring it to outlaw all other IOUs and make his legal tender, and soon he owned the whole nation. You are a dairyman. You must buy or raise your cows, buy or raise your food, build barns and milk houses, hire men to tend the cows. You and they rise at 3:00 o'clock in the morning to milk them, that you may have milk to sell. But suppose you sold the cows, fired the helpers, and bought a thousand milk cans, and you could reach out and shake an empty, closed 'can and it would instantly be full of milk. How long would it take you to get rich? "The banker CREATES the BANK DEPOSITS by a flick of the pen to purchase $60,000,000,000 interestbearing U.S.. Bonds" (in 1942), says Cong. Patman. Then why should not the dairyman CREATE MILK by a "flick of the milk pail?" Can you now see what the authority to CREATE and CONTROL money means? Means to bankers in riches, in power? Means to the producers, workers, in poverty, in helpless servility?
Greed Grew. So Did Bonds. The First World War put the bankers in sight of ownership of America. So they began to look around for other safe investments. They had stolen the people's farms, ranches, homes, industries, goods and tools of production. They now wanted a mortgage on their souls. The Government through its unlimited taxing power could take a man's, last dollar from, him. They decided that U.S. Bonds would give them a mortgage on the souls of men. So in 1917, hiding behind the First World War, the bankers set out to accomplish that end. The first debt limitation bill, written by bankers, passed as written, passed Congress as the first Liberty Bond Act in 1917. It authorized the issuance of $7,538,945,400 in Bonds. The following tells the story:
Authorized Sept. 1917 $ 7,538,945,400 Increased Apr. 1918 to 12,000,000,000 " July 1918 to 20,000,000,000 " Mar. 1931 to