The Legalized Crime of Banking and a Constitutional Remedy
Silas Walter Adams
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Copyrighted 1958 by Silas Walter Adams
Library of Congress Card Number 58-9762
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Abraham Lincoln. http://yamaguchy.netfirms.com/silas/legalized_08.html (8 of 8)5.4.2006 9:13:34 Silas Walter Adams, The Legalized Crime of Banking Chapter IX Some Further Reasons Why Banking Must Be Abolished Article I, Section 8: The Congress shall have power to coin (create) money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures. Article I, Section 10: No state (then certainly no private corporation) shall . . . coin (create) money; emit bills
reaction it will be impossible to arouse them to concerted action, I fear. Do you want this to stop? Then turn to Congressional elections. Congress is to blame for every economic crime committed in America since the first Congress, assembled in 1789. The Constitution specifically delegated to Congress the power to create and control our nation's money (Art. I, section 1), and as specifically denied the power to all others (Art. I, section 10). We have given an example of the one-bank banker, and
50: “In recent years, however, banks have had a large volume of excess reserves, there has been little occasion for them to borrow from Federal Reserve Banks.” (Note: Sure: The $250 billion U.S. Bonds gave banks $1,250 billion Reserves.) Page 50: “The second method of supplying banks with additional reserve funds is through open market purchases (Page 51) of government securities and other obligations. These purchases are undertaken at the initiative of the Federal Reserve authorities and not of
the war drums will throb no longer, and the battleflags (will be) furled in the Parliament of Man, the Federation of the World. Then the common sense of most (the masses) shall hold a fretful realm in awe, and the kindly earth shall slumber, wrapped in universal law." You are fed daily by radio TV, and Press awful hates, the national and international bankers shovel out to you. Once hate of the Kaiser, then the Hitler, then the Stalin, the Japs were peddled, now the Russians, the Nassars, the
nothing with bankers. There is now and ought to be just one sort of money, deposits; and the Congress should take over, aggregate those deposits of whatever kind, and squeeze the phoney dollars out until the volume of deposits would be equivalent to the total business done in the current year. That would regulate the value of the dollar, of money, and only that would fix the value of money. Weiss pleads with labour to "give of itself," and complains that an engineer got full-day pay for just