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Free issue of MICHAEL

as well own three-fourths of the farms of the West

and the money of the country. Then the farmers will

become tenants as in England.”

Periodic blood-lettings are carried out still, as

well as crisis. The 1907 panic, had no other cause

than the contraction of credit. This is an excellent

example of the type of ploy continually repeated in

all financial crises through to the present.

In May of 1920, a secret meeting was held by the

members of the Chamber of the Federal Reserve,

its Council and 36 class A Federal Reserve Bank

directors. This is the American system of 12 cen-

tral banks privately owned by member banks, as

devised in London by intervention of Paul Warburg,

an international financier. After a one day discus-

sion, the assembly decided upon a contraction of

the money and credit of the Nation. And so it was

that the following July, all prices came tumbling

down, farm products fetched half their prices. The

1920-22 recession was on.

The banks issuing of money as debt, and the

reimbursement of these credits under conditions

determined by the bankers places the world at the

bankers’ discretion and this on an international

scale. Recessions are universal. All are concerned.

In 1929, the rapid recall of credits caused a 20

billion decrease in short term loans in the United

States. This bleeding caused a weakening of the

economic body; check transactions went down by

1200 billions: two thirds of all money available to

commerce and industry disappeared.

If the banker creates

credit that is used asmoney,

he also destroys it, and the

circulation of this credit in

the economic body, leaves

a cancer ridden debt. The

great Pope, Pius XI, was

right in saying: “Those who

control money and credit

have become the masters

of our lives.”


High Finance is orga-

nized in such a way as to

control legislation, to dic-

tate to the world its stan-

dard of living. What is

needed to strike down this

powerful foe is nothing

less than the coming

together of the whole

population, of the multitudes.

Some people blame us, the defenders of Social

Credit, for bringing money matters to the public

attention instead of discussing it only with eco-

nomists or with the proper authorities. We do this

because we want results. We want a sorely needed

change. If in Lincoln’s days, the American public

had understood the money question, the assas-

sination of this great man would not have caused

finance to strengthen its grip upon the American

continent. If the Canadian public of all provinces

had studied the monetary question since 1933

as was done generally in Alberta, the depres-

sion would have ended in 1935 and international

finance would no longer have any say in our des-

tinies. Lone individuals have always come forth,

they were often heroes; but because they did not

know how or were not able to pass on their vision

to the people, the people remained in servitude.

Jefferson, Lincoln, Greeley, Lindberg, and others in

the United States realized, denounced, but nothing

changed because the multitudes were unaware.

Academic discussions held in comfortable

chambers will not put an end to misery otherwise

they would have done so long ago.

The powerful and well educated who remain

passive or even disdainful in the great fight for eco-

nomic liberation, should only expect to lose their

crown when the public, at last enlightened and

freed, will ask where were our leaders when we

suffered in servitude.

Louis Even

Governments, instead of whipping the people, whip the bankers

Printed in Canada