CONGRESSMAN McFADDEN
CHARGES FEDERAL RESERVE
WITH TREASON!

"Mr. Speaker, I rise to a question of constitutional privilege.

"Whereas, I charge. . .Eugene Meyer, Roy A. Young, Edmund Platt, Eugene B. Black, Adolph Casper Miller, Charles S. Hamlin, George R. James, Andrew W. Mellon, Ogden L. Mills, William H. Woo W. Poole, J.F.T. O'Connor, members of the Federal Reserve Board; F. H. Curtis, J.H. Chane, R.L. Austin, George De Camp, L.B. Williams, W.W. Hoxton, Oscar Newton, E.M. Stevens, J.S. Wood, J.N. Payton, M.L. McClure, C.C. Walsh, Isaac B. Newton, Federal Reserve Agents, jointly and severally, with violations of the Constitution and laws of the United States, and whereas I charge them with having taken funds from the U.S   Treasury which were not appropriated by the Congress of the United States, and I charge them with having unlawfully taken over $80,000,000,000 from the U.S. Government in the year 1928, the said unlawful taking consisting of the unlawful creation of claims against the U.S. Treasury to the extent of over $80,000,000,000 in the year 1928; and I charge them with similar thefts committed in 1929, 1930, 1931, 1932 and 1933, and in years previous to 1928, amounting to billions of dollars; and

"Whereas I charge them, jointly and severally with having unlawfully created claims against the U.S. Treasury by unlawfully placing U.S. Government credit in specific amounts to the credit of foreign governments and foreign central banks of issue; private interests and commercial and private banks of the U.S. and foreign countries, and branches of foreign banks doing business in the U.S., to the extent of billions of dollars; and with having made unlawful contracts in the name of the U.S. Government and the U.S. Treasury; and with having made false entries on books of account; and

"Whereas I charge them jointly and severally, with having taken Fed Notes from the U.S. Treasury and with having put Fed Notes into circulation without obeying the mandatory provision of the Fed Act which requires the Fed Board to fix an interest rate on all issues of Fed Notes supplied to Fed Banks, the interest resulting therefrom to be paid by the Fed Banks to the government of the U.S. for the use of the Fed Notes, and I charge them of having defrauded the U.S. Government and the people of the U.S. of billions of dollars by the commission of this crime, and

"Whereas I charge them, jointly and severally, with having purchased U.S. Government securities with U.S. Government credit unlawfully taken and with having sold the said U.S. Government securities back to the people of the U.S. for gold or gold values and with having again purchased U.S. Government securities with U.S. Government credit unlawfully taken and with having again sold the said U.S. Government security for gold or gold values, and I charge them with having defrauded the U.S. Government and the people of the U.S. by this rotary process; and

"Whereas I charge them, jointly and severally, with having unlawfully negotiated U.S. Government securities, upon which the Government liability was extinguished, as collateral security for Fed Notes and with having substituted such securities for gold which was being held as collateral security for Fed Notes, and with having by the process defrauded the U.S. Government and the people of the U.S., and I charge them with the theft of all the gold and currency they obtained by this process; and

"Whereas I charge them, jointly and severally, with having unlawfully issued Fed currency on false, worthless and fictitious acceptances and other circulating evidence of debt, and with having made unlawful advances of Fed currency, and with having unlawfully permitted renewals of acceptances and renewals of other circulating evidences of debt, and with having permitted acceptance bankers and discount dealer corporations and other private bankers to violate the banking laws of the U.S.; and

"Whereas I charge them, jointly and severally, with having conspired to have evidences of debt to the extent of $1,000,000,000 artificially created at the end of February, 1933, and early in March 1933, and with having made unlawful issues and advances of Fed currency on the security of said artificially created evidences of debt for a sinister purpose, and with having assisted in the execution of said sinister purpose; and

"Whereas I charge them, jointly and severally, with having brought about the repudiation of the currency obligations of the Fed Banks to the people of the U.S. and with having conspired to obtain a release for the Fed Board and the Fed Banks from their contractual liability to redeem all Fed currency in gold or lawful money at the Fed Bank and with having defrauded the holders of Fed currency, and with having conspired to have the debts and losses of the Fed Board and the Fed Banks unlawfully transferred to the Government and the people of the U.S., and

"Whereas I charge them, jointly and severally, with having unlawfully substituted Fed currency and other irredeemable paper currency for gold in the hands of the people after the decision to repudiate the Fed currency and the national currency was made known to them, and with thus having obtained money under false pretenses; and

"Whereas I charge them, jointly and severally, with having brought about a repudiation of the notes of the U.S. in order that the gold value of the said currency might be given to private interests, foreign governments, foreign central banks of issues, and the Bank of International Settlements, and the people of the U.S. to be left without gold or lawful money and with no currency other that a paper currency irredeemable in gold, and I charge them with having done this for the benefit of private interests, foreign governments, foreign central banks of issue, and the bank of International Settlements; and

"Whereas I charge them, jointly and severally, with conniving with the Edge Law banks, and other Edge Law institutions, accepting banks, and discount corporations, foreign central banks of issue, foreign commercial banks, foreign corporations, and foreign individuals with funds unlawfully taken from the U.S. Treasury; and I charge them with having unlawfully permitted and made possible 'new financing' for foreigners at the expense of the U.S. Treasury to the extent of billions of dollars and with having unlawfully permitted and made possible the bringing into the United States of immense quantities of foreign securities, created in foreign countries for export to the U.S. and with having unlawfully permitted the said foreign securities to be imported into the U.S. instead of gold, which was lawfully due to the U.S. on trade balances and otherwise, and with having lawfully permitted and facilitated the sale of the said foreign securities in the U.S., and

"Whereas I charge them, jointly and severally, with having unlawfully exported U.S. coins and currency for a sinister purpose, and with having deprived the people of the U.S. of their lawful  medium of exchange, and I charge them with having arbitrarily and unlawfully reduced the amount of money and currency in circulation in the U.S. to the lowest rate per capita in the history of the Government, so that the great mass of the people have been left without a sufficient medium of exchange, and I charge them with concealment and evasion in refusing to make known the amount of U.S. money in coins and paper currency exported and the amount remaining in the U.S. as a result of which refusal the Congress of the U.S. is unable to ascertain where the U.S. coins and issues of currency are at the present time, and what amount of U.S. currency is now held abroad; and

"Whereas I charge them, jointly and severally, with having arbitrarily and unlawfully raised and lowered the rates of money and with having arbitrarily increased and diminished the volume of currency in circulation for the benefit of private interests at the expense of the Government and the people of the U.S. and with having unlawfully manipulated money rates, wages, salaries and property values both real and personal, in the U.S. by unlawful operations in the open discount market and by resale and repurchase agreements unsanctioned by law, and

"Whereas I charge them jointly and severally, with having brought about the decline in prices on the New York Stock Exchange and other exchanges in October, 1929, by unlawful manipulation of money rates and the volume of U.S. money and currency in circulation: by theft of funds from the U.S. Treasury by gambling in acceptances and U.S. Government securities; by service rendered to foreign and domestic speculators and politicians, and by unlawful sale of U.S. gold reserves abroad, and
 
"Whereas the unconstitutional inflation law imbedded in the so-called Farm Relief Act by which the Fed Banks are given permission to buy U.S. Government securities to the extent of $3,000,000,000 and to drew forth currency from the people's Treasury to the extent of $3,000,000,000 is likely to result in connivance on the part of said accused with others in the purchase by the Fed of the U.S. Government securities to the extent of $3,000,000,000 with U.S. Government's own credit unlawfully taken, it being obvious that the Fed do no not intend to pay anything of value to the U.S. Government for the said U.S. Government securities no provision for payment in gold or lawful money appearing in the so-called Farm Relief bill- and the U.S. Government will thus be placed in a position of conferring a gift of $3,000,000,000 in the U.S. Government securities on the Fed to enable them to pay more on their bad debts to foreign governments, foreign central banks of issue, private interests, and private and commercial banks, both foreign and domestic, and the Bank of International Settlements, and

"Whereas the U.S. Government will thus go into debt to the extent of $3,000,000,000 and will then have an additional claim of $3,000,000,000 in currency unlawfully created against it and whereas no private interest should be permitted to buy U.S. Government securities with the Government's own credit unlawfully taken and whereas currency should not be issued for the benefit of said private interest or any interests on U.S. Government securities so acquired, and whereas it has been publicly stated and not denied that the inflation amendment of the Farm Relief Act is the matter of benefit which was secured by Ramsey MacDonald, the Prime Minister of Great Britain, upon the occasion of his latest visit to the U.S. Treasury, and whereas there is grave danger that the accused will employ the provision creating U.S. Government securities to the extent of $3,000,000,000 and three millions in currency to be issuable thereupon for the benefit of themselves and their foreign principals, and that they will convert the currency so obtained to the uses of Great Britain by secret arrangements with the Bank of England of which they are the agents, and for which they maintain an account and perform services at the expense of the U.S. Treasury, and that they will likewise confer benefits upon the Bank of International Settlements for which they maintain an account and perform services at the expense of the U.S. Treasury; and

"Whereas I charge them, jointly and severally, with having concealed the insolvency of the Fed and with having failed to report the insolvency of the Fed to the Congress and with having conspired to have the said insolvent institutions continue in operation, and with having permitted the said insolvent institutions to receive U.S. Government funds and other deposits, and with having permitted them to exercise control over the gold reserves of the U.S. and with having permitted them to transfer upward of $100,000,000,000 of their debts and losses to the general public and the Government of the U.S., and with having permitted foreign debts of the Fed to be paid with the property, the savings, the wages, and the salaries of the people of the U.S. and with the farms and the homes of the American people, and whereas I charge them with forcing the bad debts of the Fed upon the general public covertly and dishonestly and and with taking the general wealth and savings of the people of the U.S. under false pretenses, to pay the debts of the Fed to foreigners; and

"Whereas I charge them, jointly and severally, with violations of the Fed Act and other laws; with maladministration of the h evasions of the Fed Law and other laws; and with having unlawfully failed to report violations of law on the part of the Fed Banks which, if known, would have caused the Fed Banks to lose their charters, and

"Whereas I charge them, jointly and severally, with failure to protect and maintain the gold reserves and the gold stock and gold coinage of the U.S. and with having sold the gold reserves of the U.S to foreign Governments, foreign central banks of issue, foreign commercial and private banks, and other foreign institutions and individuals at a profit to themselves, and I charge them with having sold gold reserves of the U.S. so that between 1924 and 1928 the U.S. gained no gold on net account but suffered a decline in its percentage of central gold reserves from the 45.9 percent in 1924 to 37.5 percent in 1928 notwithstanding the fact that the U.S. had a favorable balance of trade throughout that period, and

"Whereas I charge them, jointly and severally, with having conspired to concentrate U.S. Government securities and thus the national debt of the U.S. in the hands of foreigners and international money lenders and with having conspired to transfer to foreigners and international money lenders title to and control of the financial resources of the U.S.; and

"Whereas I charge them, jointly and severally, with having fictitiously paid installments on the national debt with Government credit unlawfully taken; and

"Whereas I charge them, jointly and severally, with the loss of the U.S. Government funds entrusted to their care; and

"Whereas I charge them, jointly and severally, with having destroyed independent banks in the U.S. and with having thereby caused losses amounting to billions of dollars to the said banks, and to the general public of the U.S., and

"Whereas I charge them, jointly and severally, with the failure to furnish true reports of the business operations and the true conditions of the Fed to the Congress and the people, and having furnished false and misleading reports to the congress of the U.S., and

"Whereas I charge them, jointly and severally, with having published false and misleading propaganda intended to deceive the American people and to cause the U.S. to lose its independence; and

"Whereas I charge them, jointly and severally, with unlawfully allowing Great Britain to share in the profits of the Fed at the expense of the Government and the people of the U.S.; and

"Whereas I charge them, jointly and severally, with having entered into secret agreements and illegal transactions with Montague Norman, Governor of the Bank of England; and

"Whereas I charge them, jointly and severally, with swindling the U.S. Treasury and the people of the U.S. in pretending to have received payment from Great Britain of the amount due on the British ware debt to the U.S. in December, 1932; and

"Whereas I charge them, jointly and severally, with having conspired with their foreign principals and others to defraud the U.S. Government and to prevent the people of the U.S. from receiving payment of the war debts due to the U.S. from foreign nations; and

"Whereas I charge them, jointly and severally, with having robbed the U.S Government and the people of the U.S. by their theft and sale of the gold reserves of the U.S. and other unlawful transactions created a deficit in the U.S. Treasury, which has necessitated to a large extent the destruction of our national defense and the reduction of the U.S. Army and the U.S. Navy and other branches of the national defense; and

"Whereas I charge them, jointly and severally, of having reduced the U.S. from a first class power to one that is dependent, and with having reduced the U.S. from a rich and powerful nation to one that is internationally poor; and

"Whereas I charge them, jointly and severally, with the crime of having treasonable conspired and acted against the peace and security of the U.S. and with having treasonable conspired to destroy constitutional Government in the U.S.

Congressman McFaddens Speech

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