An example of banking philosophy
reading the following article of Louis Even, first published in 1941,
one will quickly realize that the plan of the Financiers to seize the
people's wealth and the farmers' land has been going on for a long time.
But today, one can clearly see that this plan has been fully realized.
The people owe all of their country's wealth to the Bankers through
national debts, and a majority of the farmers of developed countries
have disappeared; those remaining must work night and day to pay
interests to the Bankers. Let us all read again this important document
that enlightens us all on the real reasons for poverty in the world.
by Louis Even
Here is the full text of an article
published in the United
States Bankers' Magazine in 1892. It was recently re-published
in the New
Era and in the
Social Crediter, where we took it:
must go forward cautiously and consolidate each acquired position,
because already the inferior social stratum of society is giving
unceasing signs of agitation.
prudence dictates to us a line of conduct that seems to give in to the
will of the people, until the execution of our plans be well-enough
established for us to be able to declare our intentions without having
to fear any organized resistance.
confidence men shall have to closely watch the Farmers Alliance and the
Knights of Work, and take steps immediately, either to control both
associations in accordance with our interests, or to break them.
men will have to attend the Convention that will be held in Omaha on the
4th of July, and be in charge of all activities. Otherwise, this
Convention could muster such an antagonism to our plans that we would
have to resort to force to overcome it.
at the present time, using violence would be premature. We are not yet
ready to confront such an assault. Money must first of all seek maximum
protection in schemes and in legislation.
us make use of the courts. Let us go forward as fast as possible at
perceiving debts, at foreclosing (depriving of recourse to justice when
a certain time limit has been transgressed) on debentures and mortgages.
through the law's intervention, the common people shall have lost their
homes, they will be more easy to control and more easy to govern, and
they shall not be able to resist the strong hand of the Government
acting in accordance with the orders of the central power of imperial
wealth, under the control of the leaders of finance.
top leaders are perfectly aware of the truth. They are presently working
at establishing an imperialism of the capital to rule the world. But
while they are implementing this plan, they must keep the people busy
with political antagonisms.
therefore speed up the question of reform in the custom rates by the
political organization called the Democratic Party; and we'll put the
spotlight on the question of protection and of the reciprocity by the
dividing the electorate this way, we'll be able to have them spend their
energies at struggling amongst themselves on questions that, for us,
have no importance whatsoever, and on which we only touch upon as
instructors of the common flock.
is thus that, through discreet acts, we can maintain what was so
generously projected and executed with such a remarkable success.”
* * *
Commentaries are unnecessary on a text that
speaks for itself. Let us take the date into consideration: 1892 — one
year before the crisis of 1893. We now have in our possession three
documents relative to this 1893 crisis.
1. The 1891 document, the confidential
leaflet of the bankers, encouraging mortgages on properties, in
anticipation of the crisis that the bankers would launch a little later
on to grab all of the mortgaged properties. Besides, here is the text:
“We are authorizing our loan officers
from the Western States to loan on properties, monies repayable by
1894. No fatal date is to exceed this date.
“On September 1st, 1894, we shall
categorically refuse all loan renewals.
On that day, we shall demand the repayment of our money, under
penalty of foreclosure on collaterals.
“The mortgaged properties will become
ours. (Money will have become scarce beforehand, and the repayments will
have become generally impossible.) We'll thus be able to acquire, at a
price agreeable to us, two-thirds of the farms west of the Mississippi
and thousands more east of this great river.
“We'll even be able to possess three
quarters of the western farms as well as all the money in the country.
The farmers will then become land tenants only, just like in
2. The above-mentioned 1892 document in
which the Bankers expose their philosophy.
3. The March 11, 1893 leaflet, since then
called: “The Panic Circular”, addressed by the American Bankers'
Association to all national banks throughout the United States:
“The interests of national banks
require immediate financial legislation by Congress (the United States
Government). Silver, silver certificates, and Treasury bonds (that is to
say, all the Government's money) must be retired, and National Bank
Notes made the only money.
“This will require the authorization
of $500 million to $1 billion of new bonds as the basis of circulation.
You will at once retire one-third of your circulation (your paper money)
and call in one-half of your loans. Be careful to make a monetary
stringency among your patrons, especially among influential businessmen.
“Advocate an extra session of Congress
to repeal the purchasing clause of the Sherman Law, and act with other
banks of your city in securing a large petition to Congress for its
unconditional repeal per accompanying form. Use personal influence with
your Congressmen, and particularly let your wishes be known to your
“The future life of national banks, as
fixed and safe investments, depends upon immediate action, as there is
an increasing sentiment in favor of Government legal-tender notes and
The very-well organized Bankers'
Association won the day over an ignorant public solely organized for
political struggles of colours. A special session of the Congress was
convened expressly to demolish the ever-increasing confidence of the
people towards a government-issued money.
To force the people and the governments to
kneel down in front of the banks, an extreme scarcity of money had to be
created. The whole of America felt this scarcity. It was the crisis that
was called the “Panic of 1893”. Planned in the offices of the makers
and the destroyers of money, this crisis sowed ruins and pains in every
corner of the country.
This article was published in the January-February, 2003 issue of “Michael”.