Most of us understand that New York City is the financial capitol of the United States. The Federal Reserve System headquarters is in Washington, District of Columbia, however it is run from New York by men associated with the large banking institutions. Those institutions are in turn, dominated by the intermarried dynastic families identified in 1937 by Ferdinand Lundberg as “America’s 60 Families.” These dynasties act in collaboration with British based counterparts who are intermarried with European dynasties and royalty. These people collectively control the world financial system through central banking monopolies. They run the large financial institutions and control thousands of corporations, universities, organizations and other entities including museums, libraries, think tanks, foundations, religious figures and whatever they deem of significance to their interests. They are able to function in a monolithic manner because they have a clandestine “Senate” in London and New York of which they and key lieutenants are members. One source described it as “the world’s most secret organization.” In keeping with principles of Feudalism, sons and daughters of members frequently marry, to include transatlantic marriages. The hidden organization has had many Federal Reserve and Treasury officials as members over the years, and all have acted against gold and silver as money and currency backing. The organization controls many other organizations, whose membership lists can be easily accessed due to their status as not being the seat of decision-making. These more public subsidiary organizations feature many economists as members, and to date, I have only encountered one example of a member who seemed to favor gold and silver money (he was astray from the plan!) I am working on documenting my findings with exact specifics; names, dates, proofs. These operators are the enemies of sound money, which we know as gold and silver. They are therefore the opponents of a Constitutional money system. You know many of them by name, and the fact that they belong to organizations whose membership lists are readily accessible; but the central trans-Atlantic organization of which they are members, is concealed. It must not remain so, for too much of our national destiny is being decided in the shadows. There are many instances of members acting to demonetize gold and silver, and to depress prices. These selfish interests can be traced back before the founding of the old Bank of England in 1694, to the first and second Banks of the United States, and the founding of the Federal Reserve System. The New York Times (Sulzberger, Dryfoos, Ochs and Rockefeller families) and the London Times (Astors) are their two official mouthpieces. Sometimes glimmers of truth escape, as was seen in the New York Times, September 21, 1942, page 26, “Westerners in Congress Say Eastern Bankers Use War as Cloak for Revision,” we read---
“New measures to repeal the silver purchase acts, introduced by Representative Celler of New York brought a cry from Western members of Congress today that Eastern bankers were seeking to revise the monetary system under a cloak of wartime necessity. Mr. Celler proposed to repeal the 1934 act which requires the Treasury to buy silver until it attains a 3 to 1 ratio with gold in the monetary system. The bills, introduced on Thursday were referred to the Ways and Means and Coinage Committees. Opponents expressed the expectation that they would remain on the committee tables.”
“If they show any signs of life, we’ll present a united front against them,” Representative Hill of Colorado commented. “These boys from New York have had enough to say about the country’s finances. They’ve put us in a hell of a hole. If we’re going to start overhauling the monetary system, then let’s go all the way and not just talk about silver.”
“Similarly, Representative Murdock of Arizona told interviewers that “the Eastern bankers seem to have the idea that silver has no place in the monetary system, that it is good only as a commodity,” a conception he said was erroneous. Representative Robinson of Utah remarked that “other metals are taken out of the ground with silver, metals such as zinc, lead and copper, and the fact that the government pays for silver permits the mine operators to produce cheaply those other minerals which are so vital to the war effort.”
Congressman Celler of New York, in the hip pocket of the New York Boys, was in banking himself, and organized the Brooklyn National Bank, and was a director of Metropolitan Bank. Celler complained about “the machinations of the formidable silver states.” He later surfaced as a friend to the Silver Users Association. Synonyms for “machinations” include, plotting, scheming, intrigue, and conspiracy---words that more closely resemble the activities of the New York Boys. Recall that in 1878, the New York banks, acting in concert with London interests, shamelessly boycotted the newly issued Morgan silver dollars (“Silver Users And Opium,” Archives). The struggle for honest money continued to rage during the World War years. To all appearances, the “silverites” in Congress were better-organized 62 years ago, and truer to the principles of sound Constitutional money, than what we see today. It appears that at least one member of Congress from a major silver mining state has recently accepted funds from the New York Boys NYMEX Political Action Committee (see “Precious Metals Emergency,” Archives). As the Colorado Congressman said in 1942, the New York Boys have put us in a hell of a hole. They are responsible for the national debt; the budget deficits; the trade deficit; exporting American jobs and our manufacturing base overseas; removing gold and silver from our official money system; impoverishing Americans with stock and commodity fraud and manipulation; sucking senior citizens dry with their pharmaceutical interests backed up by a desperately corrupt Food and Drug Administration; apparent intentional bankrupting of pension benefits; overseas military interventionism directed by the British; and any other high level fiscal sedition you can name. They have reduced America to a state of near financial collapse, with the evident intention of eliminating the middle class and weakening our identity as a sovereign nation. Right now they are attempting to cartelize the mineral resources of the ocean floors through the Law of the Seas Treaty, to be administered by the International Seabed Authority based in Kingston, Jamaica. British puppet Satya Nandam of Fiji (Commander of the British Empire, 1978) is Secretary General. The New York Times, November 21, 1945, page 2, in a story titled, “Policy Of U.S. Held Swayed By British,” let slip some statements by Howard LeSourd, Dean of Boston University---
“Our State Department seems to have no mind of its own when it deals with the British on matters of world policy. Even our President backs down at the suggestion of the Prime Minister of England.”
This situation prevails to the present tick of the clock, because the British-American secret Society of world financiers controls our foreign policy---all U.S. Presidents and Secretaries of State are automatically made members, and all go along with the World Money Power in its insane war on gold and silver money. The NYT, April 29, 1944, page 9, called Britain “the world’s chief banking center.” London financial powers hurled a deadly javelin at American finances in February 1873 when silver was demonetized, impoverishing millions and allowing the Money Power spoken of by Jefferson and Jackson, to foreclose on countless homes, buildings, farms, and literally hundreds of thousands of square miles of territory, after payment in silver was forbidden! Because these plans are passed down through the devilish generations of the paper money financiers, we could see an extreme situation unfold in which “terrorists” are intercepted with loads of gold and silver coins and therefore---for the sake of national security---gold and silver coins are declared illegal contraband and use as money sternly forbidden. Since the central aim of the Society is to “gradually absorb the wealth of the world,” those outside their circles must be crushed by legislation, court rulings, or Executive orders. Sharp tax increases will be demanded for the purpose of reducing the Federal deficit, and they WILL attack precious metals investors! Like the Chinese lady told the vicious lawman on an episode of “Kung Fu”---
“I know you’re capable of great destruction, Sheriff!”
I note that several of our Supreme Court justices have been guests of the London branch of the Society (to be documented later). Therefore, beware of severe windfall profits taxes levied against precious metals mining shares and a Court that stands ready to back up the financiers. We need the precious metals lobby I called for last May (“Precious Metals Emergency.”) To the occasional individual on the other side who visits this site I say with Spencer Tracy in “Boom Town” (1954)---
“Now you listen to me, you pasty-faced Eastern tinhorn!”
That’s also applicable to the jerks at the Federal Reserve Bank of San Francisco. I, a Texan, had a father who was from New Hampshire (“Live Free Or Die”) but wherever we are from, we are forced to acknowledge gold and silver as money, and unbacked paper as dangerous. We take issue with the Italian count who said on an episode of “The Rifleman” (early 1960’s)---
“Money is never an adequate excuse for a quarrel.”
To the contrary it is, when our national destiny depends on it.
SUPPORTERS OF REAL MONEY VS PAPER ONLY CROWD
The New York Times, December 3, 1942, page 30 mentioned Senator Murdock of Utah, the lone member of the Senate Banking Committee supporting silver as money. We read---
“Senator Murdock of Utah is one of a group of Senators from Silver States who have strongly opposed every move which they think might tend to cheapen silver as a monetary metal.”
Reading between those lines the impression is attempted to be conveyed that Murdock was “paranoid” about silver. Observe the great newspaper (a tremendous information source on many subjects) said Murdock and his associates “thought” that various proposals on silver were directed against its use as money and currency backing (but in reality no one was trying to divorce silver from the money system!) Certainly not Representative Celler from New York and his banking friends, who had already worked against silver money for 69 years! And certainly not Senator Green of Rhode Island, looking after the interests of the sterling silverware manufacturers on the East coast (the same ones who melted down silver coins, especially 1964 Kennedy’s) to get at the silver. A web page of the Las Vegas Review Journal---now apparently owned by out of state interests, spoke of the late Senator Pat McCarran of Nevada (chief justice of the Nevada Supreme Court, 1917-1918), a great champion of silver in the monetary system, and of miners’ rights, and said---
“McCarran fought obsessively for the remonetization of silver, which endeared him in the Silver State but appeared small-minded to much of the country.”
Observe, those who support Constitutional money---silver---are “obsessive” and “small-minded!” In an editorial titled, “More Sense About Silver” on December 24, 1942, page 14, the NYT spoke of “the future of silver as an industrial, not merely a monetary metal” and talked about silver being “a metal of declining monetary usefulness.” The concentration of media ownership by the New York Boys---especially JPMorganChase and Goldman Sachs---allows their Silver Propaganda Machine (Archives) to confuse the millions who’ve had economics courses that omit background on gold and silver backing of currencies.
Arthur Hays Sulzberger, the publisher, was a member of the financiers Society, and his son Arthur Ochs Sulzberger and son in law Orvil Dryfoos, both in top management at the newspaper, became members. Sulzberger senior was a Rockefeller Foundation trustee (reflecting that family’s holdings in the paper) and also a trustee of the Thomas Jefferson Memorial Foundation. Maybe Tom turned over in his grave at that one! I’ve had people tell me that Jefferson was really a “globalist” because he did business with the Du Ponts. But when you need gunpowder to fight the British, you get it from Satan himself if necessary. Henry Algernon Du Pont, Republican Senator from Delaware, 1906-1917, was an opponent of silver as money (below)---
In “Who Was Who In America,” 1897-1942, page 349, Du Pont admitted his “opposition to the coinage of silver,” not surprising since silver users are opposed to silver as money, and the fact that Eleuthere Du Pont was a director of the second Bank of the United States (abolished by President Jackson in 1836), and the situation that the Du Ponts are among those back of the Federal Reserve System! The Senate and House “silverites” during the period 1942-1946 would be pleased to know that Argentina’s central bank just acquired 42 tons of gold, and it could be a signal that battered Argentina’s intent is to restore monetary health to the nation. Have the Argentines really recaptured their central bank from the London crowd? Time will tell. Domingo Cavallo, who became president of the Argentine central bank in 1982, is a Harvard graduate and was Minister of Foreign Affairs for Argentina in 1989-1991, during which time he worked on a regional trade bloc with Brazil called Mercosur. He also reestablished ties with Great Britain after the break over the Falklands Islands War (called “Las Malvinas” by Argentina). In December 2001 an enraged public forced Cavallo out of office, and he “migrated” (fled?) to the United States, where he joined the Group of Thirty, chaired by former Federal Reserve chief Paul Volcker, and British financier Lord Richardson. Cavallo is also a professor of Economics at Harvard, headed by the anti-gold ex-Treasury Secretary, Lawrence Summers. Because Argentina has a great deal of silver and gold waiting to be mined, watch for regulations that call for production to be sold to their central bank, at least until it has accumulated enough reserves for currency backing. The same thing could easily happen in Mexico. However, Guillermo Ortiz Martinez, Governor of the Bank of Mexico, was formerly with the notorious International Monetary Fund, which has done so much to harm Argentina. Don’t confuse regulations saying that gold and silver must be sold to the Argentine central bank, with nationalization. It isn’t likely they’ll blame the miners for what overseas bankers did to them. Argentina’s central bank gold acquisition was nearly blacked out by the banker run press. But word gets around, and eventually America will be shamed into following their lead. I reside not many miles from a Treasury Department currency printing plant. It sure as HELL isn’t a gold or silver mine! We had some fine people in Congress in the 1940’s, and we need to send another group like them to Capitol Hill to fight for return to sound money. For details on the Group of 30, refer to http://www.group30.org/
MORE ON REAL MONEY BACKERS AND THEIR OPPONENTS
1942 was a year of salvos fired by silver money opponents. In a letter to the New York Times, October 9, 1942, page 20, Walter Earl Spahr, treasurer of the banker front, the Economists National Committee on Monetary Policy, called for a reduction in silver backing of currency by---
“The retirement of the appropriate amount of silver certificates”
His purpose was allegedly to free more silver for industrial war use by liberating---
“The Treasury’s huge supply of silver held against silver certificates.”
The fact was that silver was indeed being rendered into war industry use, and the economist prostitutes for the paper money bankers were attempting to sneak in a demonetization of silver by a sharp reduction in the amount of silver certificates. The New York Boys have always been against redeemable currency, since they find fiat creation so much more lucrative. Spahr was a member of the Vanderbilt sponsored American Economic Association, whose members have frequently opposed silver money; a member of the American Academy of Political and Social Science, another financier front; a professor of economics at New York University from 1923 into the mid-1950’s (trustees---the New York Boys); a member of the money and banking committee of the Commerce & Industry Association of New York; and author of several books including---“The Federal Reserve System And The Control Of Credit” (1930); “The Fallacies Of The Commodity Dollar Scheme” (1937, attack on silver); “The Case For The Gold Standard” (1940); “What Can Be Done By Our Government To Avoid Inflation Losses” (1941); “This Thing Called Inflation” (1941); “The Silver Scandal” (1942, attack on silver as money); and “The Manipulation Of Our Federal Reserve Bank Notes” (1944). I haven’t had opportunity to look at the last title, but I suspect it has to do with allegations that circulating silver certificates were the cause of the “manipulation.” Notice Spahr wasn’t opposed to gold in our monetary system. The reason was it wasn’t in the plan at that juncture. The financial powers in London and New York had been fighting silver since at least 1873. The gold they held became far more valuable with the attack on silver in that catastrophic year. Can you imagine the uproar if a committee of economists and a consortium of bankers both simultaneously announced that both gold and silver are outdated as money? Encroach gradually, is the key to fiat takeover. Because they failed to encroach (like a roach) in the case of the second Bank of the U.S., when President Jackson crushed it in 1836, contributed to its failure. The bank “notes” it issued were backed by NOTHING---exactly as in 2004! Spahr was fully aware of the Roosevelt action against gold in 1933, but might have been shocked had he been around in 1971 when the New York Boys told Nixon to close the gold window!
THE PROSTITUTE ECONOMIST ATTACKS SILVER MONEY!
The Saturday Evening Post, October 31, 1942, gave the banker shill, Walter Spahr, a sounding board for his attack on silver money. The article was titled “Silver Scandal” and we find on page 19---
“Silver is now a strategic metal, badly needed in war industries. Yet a huge unused hoard, barred from industrial use, lies in the Treasury’s vaults at West Point, New York. The needed Treasury silver is withheld from industry by the congressional silver bloc for the chief purpose, apparently, of supporting the beliefs of currency expansionists. The only concession yet made by the silver bloc permitting silver to join the war effort is the feeble plan to lend some Treasury silver for purposes where it will not be consumed and to maintain a defective brand of silver certificates in circulation. These charges, and the facts which support them, picture the current tactics of the congressional silver bloc as another unfortunate chapter in a decade of unfortunate silverite history.”
No one disputed the need for silver as a highly versatile war material. The charge of Congressman Hill of Colorado that Eastern bankers (the New York Boys) were attempting to use the need for silver as a war material, to phase silver certificates out, was sadly accurate. The Congressional silver bloc in the Senate and House was able to work with the so-called “farm bloc” to act as a bulwark for each other’s interests, to gain the necessary votes for legislation. Propagandists like Spahr were dispatched to write articles intended to confuse the public into thinking that because the Congressional silver bloc favored silver in the monetary system, that they were therefore opposed to the applications of silver in the war effort, which was untrue. As Spahr admitted on page 79 of the Saturday Evening Post article, the Treasury already sent 40,000 tons of silver to Donald Nelson of the War Production Board (WPB). An interesting footnote on Nelson is that during 1943-1944 he served as the President’s personal representative to China and Russia, and as of 1953, information I located shows that he was chairman of Electronized Chemicals Corporation; director of Molybdenum Corporation of America; and president of Consolidated Caribou Silver Mines! Nelson was former president of the Society of Independent Motion Picture Producers and treasurer of the Academy of Motion Picture Arts and Sciences (movies can function as propaganda vehicles). He was a member of the President’s Highway Safety Conference, linked to the Du Pont silver users and General Motors, a Du Pont holding; and a member of the U.S. National Committee for UNESCO (United Nations Educational, Scientific and Cultural Organization).
The economists told the public that silver was not needed in the currency system, because gold alone was sufficient, ignoring the Founding Fathers of the Republic who called for the legal tender use of both metals. Notice Spahr asserted the stored Treasury silver was for the purpose of “supporting the beliefs of currency expansionists.” For expansionists read “inflationists.” He was telling the public that silver backed notes constituted inflation! On page 82 Spahr spoke of the “currency expanding too rapidly” being the fault of silver backing, and that this ill was “caused by the programs of our silver manipulators.” Observe---according to the eminent New York University economics professor, backers of redeemable silver money were “manipulators!” More outrageously, Spahr (page 82) asserted that the Congressional silver bloc was opposed to silver use in war “so that our armed forces can the more quickly and effectively lick Hitler.” In my college days I gave the economics professor the answer on a test that I knew he was looking for, accompanied by an asterisk indicating a footnote to the question at the bottom of the page. I told him I gave him that answer because I knew it would pass me on the question, but that the answer was incorrect and so was he. The year was 1974 and the question was about the abandonment of silver coinage! Spahr mentioned “facts which support” his charges, but it was barefaced propaganda. Spahr’s comments about maintaining “a defective brand of silver certificates in circulation” illustrates the bedevilment with which he was willingly afflicted. On page 82 he again called silver certificates “defective.” If silver certificates are backed by real silver metal, that makes them “defective?” Such lunacy causes the reasonable thinker to incline towards obscene comments! Spahr’s friends at the banker mouthpiece, the New York Times, on October 16, 1942, page 18, in an editorial titled, “Drafting Silver For War” continued the banker attempt to befuddle the public by saying---
“Our Government now has a hoard of about 3,000,000,000 ounces for which there is absolutely no monetary need.”
The world had seen some 50 centuries of silver as money; the geniuses of the American Constitution fully recognized silver, along with gold, as money, but the New York Boys were trying to get silver out of our monetary system. And they were trying to use war needs as the excuse. The April 9, 1942 New York Times, page 13, ran another story titled, “Silver Senators Urge More Mining,” the Senate Silverites were attempting to provide more metal for war use, while retaining the Constitutionally based need for silver as money in our currency system. The Congressional silver bloc was not truly opposed to the use of silver in the war effort, as the American Bureau of Metal Statistics reported that 193,933,000 ounces of silver were used in the United States in 1942, up sharply from 135,064,000 in 1941 and up dramatically from 62,239,000 ounces in 1940; an increase of over 311% in two years (New York Times, May 18, 1943, page 34). Furthermore, the NYT reported that the so-called Lend-Lease program had used 40,897,000 ounces of silver (January 17, 1944, page 25).
SPAHR LASHES OUT AT BACKERS OF SILVER MONEY!
On page 19 of his Saturday Evening Post propaganda piece, Spahr mentioned that Treasury Secretary Morgenthau and Federal Reserve Board chairman Marriner Eccles, “and a large group of experienced monetary economists” agreed with him, essentially, that silver was only an industrial commodity and not needed in the financial system as currency backing (or as coinage). Experienced monetary economists, what a bunch of exploitative liars! These economists have various organizations to which they belong. They publish papers, articles, essays, and journals. They give each other awards in an effort to legitimize their attacks on silver (and gold) as money. Ever hear of the Mont Pelerin Society? Curiously, it was founded in 1947, the year that saw the birth of the Silver Users Association. According to “Liberty Australia” Mont Pelerin (near Montreux, Switzerland) is a front for the British Crown and seeks “the elimination of the nation-state, and return to feudalism.” This ties in with movement towards a global fiat/electronic currency system. Gold and silver are obstacles to such plans. According to www.montpelerin.org their bylaw #6 refers to the “creation of an international order.” Famous economist Milton Friedman (Federal Reserve Bank of San Francisco) was in this Society; British financier Lord Harris of High Cross as well (author of the 1971 book, “Down With the Poor”). Mont Pelerin’s most recent meeting was in Salt Lake City, Utah, August 14-19, 2004. It’s another economist organization---the most elite of all such---fronting for the hidden World Money Power above it, and opposed to gold and silver money. To return to Spahr’s anti-silver article--- on page 79 he made a complaint against the Special Silver Committee of the Senate---
“It had been announced before the hearings that monetary economists who had urged repeal of the silver laws would be asked to testify, but none of them was called. Instead, most of the witnesses, besides Morgenthau and Nelson, were officers of silver mines and representatives of silver mining associations.”
Thus the so-called “inner circle of silverites” in Congress (as Spahr called them, page 80) outflanked the trickiest operators in the propaganda world. The silver legislators also managed to twist Morgenthau’s arm (page 80)---
“Exacting from him a demanded emphatic no that he would not impair the integrity and value of silver in the monetary system of this country.”
Spahr’s tirade continued (page 80)---
“Nor is the silver bloc merely the closely knit managerial group of silver-minded men in Congress. Surrounding them is a varying group of congressmen who, for one reason or another, rather consistently join forces with the silver managers. Currency expansionists of almost every variety generally support the silverites. The farm bloc usually throws at least part of its strength behind the silverites, chiefly because the farm bloc leans towards currency expansion. Outside Congress are active leaders and lobbyists of the silver mining industry who furnish powerful aid.”
Well, well! Ted Butler wasn’t the first to use the term “silver managers;” however, Spahr wasn’t speaking of the real culprits---he was vilifying the good guys! Spahr once again blamed “currency expansionists” (“inflationists”) for using silver as the basis to create inflation! Good God! What can you say to that? Greenspan has been a “currency expansionist” extraordinaire, all without any silver backing! It appalls the sincere mind to realize that of those who call themselves “economists,” it seems, most are dishonest, and would blame inflation on silver or gold. Hardly that; it’s simply an increase in “unbacked, intrinsically valueless paper” spuriously issued by our British influenced central bank! No wonder Spahr and Eccles were against silver money (a fact documented elsewhere; see “Michael Gorham’s Paper Money Mob,” Archives). Continuing, Spahr lambasted the supporters of Constitutional (real) money (page 82)---
“Despite the sorry contributions which some of our self-serving pressure groups have made to the history of our Government, many leading monetary economists have insisted that no more regrettable chapter exists than the one contributed by the silverites. The history of their activities, even in peacetime and especially during the last decade, has frequently been called “disgraceful” by thoughtful and informed people. The arguments which the silverites have used in public to support their plans have, in the opinion of those competent critics who have fought them--- monetary economists---been fallacious. Some of their contentions have been called grotesque, demagogic and downright wicked. Critics have found it difficult to determine what proportion of such arguments has been due to ignorance and what proportion to sheer desire of the silverites to get what they wanted.”
Fellow silverites pay close attention! According to that “monetary economist,” (paper money mob mouthpiece) Walter Spahr, what we believe in---honest, real money---is “regrettable;” “disgraceful;” “fallacious;” “grotesque;” “demagogic” and “downright wicked.” It reminds me of the Mexican traveler in California who said to the abusive husband, calling him names after the wife left him for the other man---
“If I am those things, Senor, then you must be worse, or she would not have left you!”
(From “The Big Valley,” TV western series of the 1960’s). So we could say that as the sickly unbacked paper money system defended by “monetary economists” starts to crack and fail, Americans will begin to remember history of coin money, and insist upon a return to silver and gold as the only healthy basis of our financial system!
TWELVE MEN AGAINST THE NATION!
Just after Spahr’s broadside against silver money was launched in the last Saturday Evening Post of October 1942, The Reader’s Digest for November 1942 hosted an article titled, “Twelve Men Against The Nation,” (giving it priority status by placing it at the start of its issue) by Sylvia Porter, who joined the New York Post in 1935 and graduated from New York University where Spahr was a faculty member. Porter, a member of the American Newspaper Guild, attempted to distort, as had Walter Spahr, the position of the Congressional silverites on silver as monetary backing, and as a needed war material. In fact she quoted Spahr on page 3---
“The secretary of the Economists National Committee on Monetary Policy declared---“The silver issue has now fallen to the depths of indecency probably never before equaled in all its disgraceful and scandalous history.”
Porter also noted (page 3) “The U.S. Chamber of Commerce has called the silver policy a tragic farce.” She then noted, “68 leading economists urged immediate nullification.” Those were the members of Spahr’s Committee! She mentioned Senator McCarran of Nevada who opposed efforts to “undermine confidence in silver as money.” Then she declared---
“We certainly don’t need silver today to back up our currency, nor do we need the white metal to broaden our monetary base, for that is already swelled to a dangerously inflationary degree.”
All the propagandists for the Paper Money Mob, run by the New York Boys, were at work trying to convince the American public that silver was no longer needed in the money system; and that silver backed currency is inflationary! On page 2 she belittled the silver mining industry (italics were hers)---
“The six silver states consider silver mining a primary industry and one which must be protected, yet the value of silver produced annually in the United States is less than the value of noodles sold. As an income producer it is comparatively unimportant even to the silver states.”
While her statistics on silver and noodles appear questionable, it was a clear distortion on her part to allege that silver mining was fairly insignificant business activity to the silver states! When the silver shortage hits, apparently not more than a few months away now, let’s all send some sacks or boxes of uncooked noodles to Eastman Kodak, Du Pont and Dow Chemical, reminding them that Sylvia Porter seemed to believe that noodles are more valuable to the country than silver, the most versatile metal of all! And Tiffany’s can see about selling noodles as a substitute for silver jewelry! While we’re on the subject of Tiffany’s, note that board member Samuel Linton Hayes III became Jacob Schiff professor of investment banking at Harvard in 1975; Schiff was known for opposition to silver money (“Silver Wars And Silver Surprises,” Archives), and Schiff’s associate Paul Warburg was behind the founding of the Federal Reserve. Porter identified the Senate Silver “Bloc” (reminds you of references to old Soviet run Eastern Europe, no!) on page 3 of her banker sponsored propaganda piece---
“John Thomas and D. Worth Clark of Idaho; Burton K. Wheeler and James E. Murray of Montana; Elbert D. Thomas and Abe Murdock of Utah; Carl Hayden and Ernest W. McFarland of Arizona; Edwin C. Johnson and Eugene D. Milliken of Colorado; Berkeley L. Bunker and Pat McCarran of Nevada.”
Below, images of Silver Senators in 1942, Edwin C. Johnson of Colorado; James E. Murray of Montana; Pat McCarran of Nevada; and Burton K. Wheeler of Montana---
(Colorado Senator Edwin C. Johnson)
(Montana Senator James E. Murray)
(Nevada Senator Pat McCarran)
(Montana Senator Burton K. Wheeler)
Senator Wheeler, a Democrat, formed the America First Committee in 1940, with famed aviator Charles Lindbergh. Interestingly, Pat McCarran was president, in 1921-1922 of the Truckee River Water Users Association, a commodity based group using an item not traded as a future, but evidently that group hasn’t had such a profound influence on the water of a river little known outside its region, whereas the Silver Users Association has exercised a shocking influence on silver prices---and supplies---around the world. Edwin C. Johnson, who looked like a man you couldn’t slip any trick over on, also served as Colorado governor, 1933-1937. Arizona Senator Carl Hayden, who served in Congress from 1912 through 1969 (amazing) was called “The state’s most important historical figure” (Arizona Republic, February 10, 2002). The attacks printed by the Saturday Evening Post and the Reader’s Digest evoked the following response, which appeared in the New York Times, December 1, 1942, page 14, under the headline, “SILVER SENATORS TO FIGHT,” with the subtitle, “Group to Take Action Against Two Magazines for Criticism”---
“Washington, Nov. 30 (AP)---Senator Pat McCarran said today that silver state Senators decided at an executive meeting to take “appropriate action” against authors and publishers of recent magazine articles critical of the so-called Senate silver bloc. McCarran told reporters that he could not disclose the nature of the “appropriate action,” but asserted that it would be in retaliation for what the group believed was “a most dastardly assault without reason or provocation against the lives and reputations of the Senators named in the articles.” At the same time, the Senator said that he would appear before the Senate Banking Committee tomorrow to oppose a bill introduced by Senator Green to permit release of some government owned silver for sale for jewelry and tableware manufacture. As official spokesman for the silver state Senators, McCarran asserted the group resolved that recent articles in The Reader’s Digest and The Saturday Evening Post conveyed “false and unfounded statements” regarding the attitude of Senators interested in “maintaining the integrity of the monetary system.”
As far as I have been able to determine, no action was actually undertaken against the authors or media sources, perhaps because of concerns about freedom of speech and freedom of the press and accusations of censorship. However, the silver Senators were understandably angry at being accused of what amounted to “helping Hitler” by allegedly withholding silver from the war effort. Their true concern was that the war use of silver not be used by the New York Boys as a smokescreen to usher silver out of our monetary system, which sadly they succeeded in doing by 1968 when the last silver certificates were redeemed in a public rush before that silver window closed. According to “monetary economists” such as Walter Spahr, the public must have been out of its collective mind to rush to hoard the last of our silver coins, when the banker sponsored cupronickel tokens were introduced. If silver isn’t money, if silver is worth less than an unbacked Federal Reserve note, then we silverites must be crazy for owning silver. As the economic cataclysm sponsored by the New York Boys and their older London associates arrives, we will see who is crazy, precious metals holders, or those they’ve deceived into thinking unbacked paper is money! With the finances of the world in shambles, let’s raise up another “Old Hickory” (President Jackson), to abolish the Federal Reserve and start backing our currency with gold and silver, true money! Guess what! Lynne Cheney, the vice-president’s wife, is a board member of the Reader’s Digest Association. C.J. Silas, a Halliburton director, is on the Reader’s Digest board also. The New York Times was always on the anti-silver side of the monetary issue. The August 4, 1942 issue, page 18, said in an editorial---
“The vast stocks of metal which are being held for “monetary” purposes are a sham.”
The NYT, August 29, 1942, page 14, mentioned a “hurricane of recrimination” on the part of those backing silver as money, and once again criticized the silver certificate program.
DEMOCRATS AND SILVER!
The New York Times, Friday, July 21, 1944, page 12, printed the Democratic National Platform for the Presidential campaign in that year, part of which read---
“Earliest possible release of war-time controls. Adaptation of tax laws to an expanding peacetime economy, with simplified structure and wartime taxes reduced or repealed as soon as possible. Encouragement of risk capital, new enterprise, development of natural resources in the West and other parts of the country and the immediate reopening of the gold and silver mines of the West as soon as manpower is available. We reassert our faith in competitive private enterprise, free from control by monopolies, cartels, or any arbitrary private or public authority.”
This sounded perfect, except it was mostly for public consumption. Franklin Roosevelt was a great pal of the New York Boys; he was a member of their Society, as was his son John, who was with Bache & Company, which helped themselves in the wake of the Hunts silver losses starting in January 1980. John’s cousin Julian also became a member. At this time we have the option to vote for John Kerry, a “Democrat” member of the same Yale University British front as Bush---founded in 1832 by Russell & Company, opium merchants in China. A concession was given to them in the Chinese opium trade in exchange for fronting British influence in America, a fact Alexandra Robbins overlooks or is unaware of. Democrats, Republicans---when the New York Boys control the nominating process of both major parties, it’s time, I suggest, to vote Libertarian. The silver skirmishes between the Capitol Hill Silverites and the New York Boys hardly ended in late 1942. Let’s document some additional items! First let’s take a brief look at something from the NYT, April 29, 1944, page 9---
“Francis Brownell, chairman of the American Smelting and Refining Company of New York, urged international bimetallism as the best means of meeting the universal demand for “hard money” which he predicted after the war. The present world monetary stock of gold, he argued, was insufficient to permit a lasting return to the single gold standard.”
THE COLORADO MINING ASSOCIATION AND SILVER!
In a letter to the New York Times, June 7, 1946, page 18, titled, “Silver Statements Queried,” subtitled, “Nothing Sacrosanct About Silver, Representative Celler Says,” we read some views from the same anti-silver legislator, and friend to the greedy silver users, we read about after the introduction to this essay---
“There appeared in The Times of May 31 a paid advertisement by the Colorado Mining Association, an affiliate of the silver group. It is so full of inaccuracies and misstatements that your readers ought to be set right.”
Continuing, Celler attacked the “silverites” and use of silver backing paper currency---
“The three billion ounces of silver do not add one whit to that security. Silver is no longer needed to back our currency. The time must soon come when silver can no longer be worshiped as a sacred cow. There is nothing sacrosanct about silver.”
Celler believed America’s gold alone was sufficient backing. Look where we are today! Image of Celler (below)---
Celler was quoted in the Commercial & Financial Chronicle, October 1, 1942, page 1171 as calling the Congressional silverites “conspirators” and asserted that they ran a “deadly combine.” The same article stated---
“Following introduction of the Celler bills, Western Representatives charged that Eastern bankers were seeking to revise the monetary system and promised a united front against the bills.” Celler and his fellow travelers had a running feud with the silver forces. And we see that it continued after the close of World War II. The advertisement Celler grumbled about appeared on page 10 of the New York Times, May 31, 1946, sponsored by the Colorado Mining Association And Affiliated Utah And Nevada Groups. Its headline was, “SILVER MANUFACTURERS---DO YOU REALLY NEED SILVER?” Let’s examine outstanding parts of the ad (italics original)---
“TODAY the currencies of most of the world are in collapse, yet the strength of the United States dollar is everywhere recognized. One of the principal reasons for that strength lies in the substantial stocks of gold and silver which the United States Treasury holds as backing for note issues, and for the issuance of coinage. The mining West is happy over the important role it has played in the achievement of that fortunate position. The West is especially proud of the leading role it has played in the rehabilitation of silver---even though the West has benefited only modestly from that rehabilitation.”
“The West has received little credit for its leadership in respect to silver. In fact, our position has been continuously misrepresented by skillful propagandists. Our Western Senators and the small number of Congressmen who represent us have been continuously maligned and vilified. “Twelve Mean Against The Nation”—“fattening on the Treasury”---“greed unadorned---these are only a few samples of the vituperation which has been heaped upon us because of our leadership in connection with silver. Yet we bear no malice toward those whose conception of silver has been so short sighted.”
“Now there is another crisis in silver. It is a manufacturing crisis. It is due to a 200% increase in the industrial use of silver since 1940, along with a 57% drop in domestic silver production and a virtual collapse in imports. During the war, the West cheerfully cooperated in the enactment of special silver legislation, which provided silver from the United States Treasury for war production and for civilian manufacture. Here again our Western position has been grossly misrepresented. In fact, while your industry prospered over 3,000 of our silver producing mines were shut down.”
“For months past we have again offered you our cooperation in the hope of terminating the present manufacturing crisis in silver. We have approached the problem in our customary Western spirit of give and take---the only satisfactory method of solving such problems. Months ago, Western legislators sponsored proposals which were intended to permit manufacturers to operate successfully on a large scale. Legislators representing silver manufacturing centers submitted other proposals. After weeks of Senatorial Hearings a compromise was agreed upon. That compromise was endorsed by Senators from manufacturing states, by Senators from mining states, and by Senators who had no direct interest in the subject. But once more our Western position is being misrepresented.”
“One of the accredited leaders of the silver manufacturing industry has publicly stated that the West has repudiated that compromise. That is not so---that compromise still stands as far as we are concerned. But it seems that a few die-hards are blocking its fulfillment, not withstanding your need of silver and the gentlemen’s agreement.”
“We in the West believe that the compromise which was agreed upon is fairer to the manufacturers than it is to us---but we have accepted it with good grace. What is the nature of that compromise which was unanimously agreed upon before a Senatorial Committee? It permits manufacturers to draw generously upon the Nation’s monetary stocks of silver for a period of two years at 90.5 cents an ounce. That price is lower than the prices ruling in many of the markets of the world. We are not happy over that price. Nor do we like to see a diversion of the Nation’s monetary stocks of silver into private industry. But we have agreed to that proposal and our agreement stands.”
“The compromise permits our Western miners---during the same period---to sell their output to the Treasury at the same price at which manufacturers make their purchases from the Treasury. At the end of two years our miners will receive $1.29 from the Treasury---a price which we have sought for three quarters of a century. That $1.29 price, we believe, is of major international importance to the United States. It has only modest significance to us, because our domestic silver production is at best a small part of the world’s production or of the Treasury’s monetary stock.”
“At the end of two years the manufacturing industry should be able to obtain adequate supplies from its customary channels---from Mexico, Canada, Peru and other foreign producing countries. Until that time we in the West must compete against the poorly paid miners of South America and Africa. Thereafter, the Treasury’s purchases from us at $1.29 that tariffs now offer to manufacturers.”
“Yes, we think the silver compromise is more than fair to manufacturers, but we will go along with it. Yet with this talk of “repudiation” we don’t know where we stand. We are very doubtful if the manufacturing industry does. Congress is planning to adjourn in July and probably will not return until next December or January. If there is no legislation in this session, there can be no legislation for many months, if at all. In that event, manufacturers will have no other alternative than to obtain the elimination of OPA ceilings on silver and to acquire their silver in a runaway market. Our Western miners would undoubtedly receive much more than 90.5 cents---but we prefer stability to skyrocketing and possible collapse. We also want you to know where the responsibility will lie.”
“Won’t you let your own leaders know what you think about the present compromise? Won’t you let your Congressman know? Won’t you let me know also---by letter or telegram---confidentially if you so desire, at George Washington Inn, Washington, D.C.”
Robert S. Palmer, Executive Director of the Colorado Mining Association (Denver), signed the advertisement. Founded in 1876, the association today has some 88 companies and 700 individuals as members. Two member companies are highly regarded in the international mining community---Behre Dolbear & Company; and Pincock, Allen & Holt, consultants. Silver Investor readers might wish to inquire of the CMA if they have a position on “hard money” 58 years after the skirmish between one of their leaders and an East coast representative of the users and bankers. Seventeen links at their site include the Arizona, Idaho, Montana, Nevada, Northwest, and Utah Mining Associations. Find them at www.coloradomining.org.
Ten days after the letter from Congressman Celler appeared in the NYT, Robert Palmer of the Colorado Mining Association rebutted the New Yorker---
“Let me now nail Congressman Celler to the record. There are not, as Congressman Celler states, 26 billion dollars of gold at Fort Knox, Kentucky. There are only $20.2 billions. Verification of this is obtainable from the daily statement of the United States Treasury of June 7. Congressman Celler states that “the three billion ounces of silver do not add one whit” to the strength of the American dollar. This is a plain matter of statistical fact. Backing the $43.1 billions of Federal Reserve notes and deposits of June 5 was a reserve of 43.7 per cent in gold. This, of course, is extremely close to the minimum backing of 40 per cent against notes and 35 per cent against deposits which was required under the law until recently amended. Under that amendment minimum requirements were reduced to 25 per cent gold against both notes and deposits.”
“Behind every dollar in silver certificates and behind every silver dollar, however, stands approximately three-quarters of an ounce of silver. At 71 cents, therefore, the OPA ceiling price, which no longer attracts much silver from anywhere in the world, there is over 53 cents behind every dollar of silver certificates and behind every silver dollar. At 90 cents, the apparent average price for silver in the commercial markets of the world, there is over 67 cents of silver behind this silver currency. Ultimate fulfillment of our national monetary policy in silver will mean that there will be 100 cents of silver behind every silver certificate or dollar. Obviously, therefore, some of the strength of the silver dollar and of the certificate, which is backed by silver, is imparted to the dollar, which is backed by gold.”
“In summary, we in the West are hopeful that the pending silver legislation will provide wholesome benefits for both American mining and American manufacture. Certainly, with over 3,000 of our silver-producing mines closed down for several years, we in the West desperately need those benefits.”
Mr. Palmer and the silver miners were only asking to get a 19.39-cent per ounce price increase---a price which he noted prevailed elsewhere in world markets. Because the Fascist OPA, Office of Price Administration, had a ceiling on silver at 71.11 cents per ounce, American miners were being hurt to the extent of their mines shutting down. Their livelihood was being done damage by the insane price capping! Remember that wonderful sounding economic platform the Democrats brought out in 1944? The OPA administrator, Leon Henderson, with his domestic brand of price control Fascism, was an economic consultant to the Democratic National Campaign Committee in 1936! It sounds like what we need is a “sound money” political party!
THE FASCIST OFFICE OF PRICE ADMINISTRATION!
The OPA was the Office of Price Administration, a Federal agency erected in World War II “emergency conditions,” which actually dictated to the economy what prices could be charged for a wide variety of items. That, of course, was Fascism! Its mission was to “prevent inflation,” something only the Federal Reserve can cause! The 90.5 cents per ounce Palmer mentioned was the proposed compromise increase from OPA’s 71.11 cents per ounce, which is why those 3,000 mines, many of them admittedly, smaller workings, were shuttered due to unprofitability. As Democrat Senator Abe Murdock of Utah said (Commercial & Financial Chronicle, June 13, 1946, page 3249)---
“Silver cannot be produced profitably at 71.11 cents per ounce.”
Two weeks later on June 27, 1946, the Commercial & Financial Chronicle said (page 3482)---
“Senators from New England where silverware is manufactured or silver used for industrial purposes, were opposed to any substantial price rise.”
The silver users were in collaboration with the fiat money forces in wanting to cap silver prices, and to remove silver from our monetary system. I’m certain most of us in the hard money camp agree that government has no business setting any price ceilings on commodities; and that in today’s world, miners realistically have no wish to receive any subsidies on minerals or metals extracted. The free market is the fairest determinant of price. The New York Boys will soon be unable to “derivative” their way to lower silver prices, or capped prices, since the days of clandestine silver leasing are closing. Any price capping by the Federal government will eventually cause a shortage as sellers will dry up at any Fascist ceiling price (proposed by “monetary economists,” we imagine)! As the world price of silver marches upwards, it will become more obvious that capping silver prices in the United States will exacerbate the shortage, as most of the silver we need is produced elsewhere. Those mines in other national jurisdictions won’t sell silver to the U.S. at a capped or Federally managed price, when they can sell it for substantially more elsewhere! Four NYT article references show that happened during 1942 through 1945. NYT, August 6, 1942, page 8, reported OPA administrator Leon Henderson froze prices payable for imported silver at 35.375 cents per ounce. Henderson was chairman of the financier front, Americans for Democratic Action, and a member of the anti-silver American Economic Association! Henderson was with the Russell Sage Foundation, New York, from 1925 to 1934. Russell Sage (1816-1906) was “an old hand at political and financial corruption” according to Gustavus Myers in “History of the Great American Fortunes.” His frauds and briberies centered about the Missouri Pacific Railroad, Western Union Telegraph Company, and the Pacific Mail Steamship Company. In 1891 he was almost assassinated as a result of swindling many people. He left a fortune estimated at up to $100 million---a really huge sum in 1906! Amusing, isn’t it, that this corrupt economist Henderson was nurtured with pirated funds! To return to the OPA sequence on imported silver---on August 31, 1942, the OPA was forced by world market pressure to raise the imposed price ceiling on imported silver to the LOFTY sum of 45 cents per ounce! It was admitted to be necessary to “stimulate production” in the “Mexican silver industry.” Francis Brownell of American Smelting & Refining, who we earlier saw as an advocate of hard money bimetallism, advocated an end to the OPA silver price ceilings (NYT, December 2, 1945, page 39). In the same article we find the following VERY SHOCKING and DISTURBING item---
“Testifying in opposition to a bill by Senator Green of Rhode Island to permit release of silver at 50 cents an ounce, Mr. McCarran disclosed that the Secret Service had sent him a copy of a letter received by President Roosevelt. The “ill advised sender, Mr. McCarran testified, threatened to “come to Washington and kill me if certain events occurred.”
Observe---Senator Green, a mercenary for the silver users, wanted taxpayer funded silver at a rate of 50 cents an ounce---almost 30% less than the OPA price ceiling which already caused the idling of over 3,000 silver workings in the West; and nearly a full 45% rate less than the then prevailing silver price in other world markets! Silver users are THIEVES! Would silver users mean to assassinate a Senator standing up for miners’ rights? Perhaps! But it was far likelier McCarran received the death threat due to banking centers being agitated over his backing of silver as MONEY! Just think, we could have had another “Kennedy assassination” almost 21 years before the actual event! To conclude the sequence of events on the OPA and price ceilings imposed on silver imports, we note in the NYT of September 16, 1945---
“The supply of 45 cent foreign silver is almost exhausted. Foreign producers are not willing to send silver into the United States at that price any more because they can get higher prices elsewhere. OPA officials concede there is need for increasing the price of foreign silver.”
Well la-dee-da! If the price is capped a shortage results! Don’t expect that to be something any “monetary economist” can understand---for they represent financial PREDATORS! Henderson was a member of the National Press Club (D.C.). As of 1952 he was president of International Hudson Corporation, and during 1956-1957 he was president of American Leduc Uranium Corporation, through which industry he was acquainted with billionaire Floyd Odlum of the World Money Power, the biggest uranium kingpin in the world and one of the most dangerous operators ever in business and finance, who crushed Jack Northrop’s aviation concern with help from Secretary of the Air Force Stuart Symington, another member of the Society (later a Senator from Missouri) when Northrop turned down a deal from Convair, controlled by Odlum’s Atlas Corporation. ANY Federal official, member of Congress, banker or silver user who suggests an official price cap, should be crucified along the Appian Way by Roman general Marcus Licinius Crassus! The government has no business providing silver to industrial users at taxpayer expense. Let them fend for themselves! The government has no valid role in buying silver, except for currency backing and coinage (which sticks in their craw), and for a military defense stockpile. Nor should silver investors and miners be penalized for shortages caused by many years of government and exchange sponsored price capping. Some closing notes on the OPA are in order. The NYT, November 1, 1942, section III, page 7, reported that the OPA sued Montgomery Wards department store because its Fall-Winter 1942 catalog allegedly had 156 items listed over the price ceilings, some by as little as two (2) cents! The story said---
“Among the items named in this connection were lamps, chairs, hose, window shades, ribbon, handbags and others. Alex Elson, regional OPA attorney, said that “evidence was gathered in the course of routine check-up. We checked up on mail order houses as we check up on all other businesses.”
Sounds like the old East Germany, doesn’t it? We had a price-controlling agency that “checked up on all businesses!” Wouldn’t it be fabulous if something like OPA could be brought back, and if some tourist motel operator in a little town in Utah was caught overcharging by 2 cents, he could be sued! The NYT, November 19, 1942, page 20, was titled, “OPA Lists Top Prices On Auto Anti-Freeze.” The NYT, November 27, 1942, page 33, listed OPA regulations on prices for acetic acid; formaldehyde; titanium pigments; books; magazines; newspapers; catalogs; directories; programs; pamphlets; sheet music; trucks; trailers; miscellaneous vehicles; beekeepers; and fruitcake! Do any of you silverites care what someone wants for fruitcake? The NYT, May 11, 1943, page 27 reported the OPA ceiling prices for commercial refrigeration apparatus were lowered, making it more difficult for smaller manufacturers to compete with large corporations! It occurs to me that a substantial part of the real reason the OPA was brought into existence, was so that corporations associated with the secretive financier organization I have frequently referred to, could use lower prices to drive other businesses into unprofitability, thereby gaining more market share and becoming more profitable after erasure of price ceilings. Use the government to injure the competition! In any free market, sellers of goods and services may ask what prices they wish, and if buyers find the asking rates too high, they are free to go elsewhere; which usually results in business perceived as asking too much, losing business till they go under. This Fascist price controlling operation additionally extended into real estate, as we read in the NYT, March 1, 1945, page 28---
“RENT CONTROL---The OPA issued four important changes in its rent regulations, three dealing with a landlord’s retroactive refund liabilities.”
Pretty neat, huh? They even made some price controls retroactive! It must have been a good way to force small landlords and property owners into unprofitability, so they’d have to sell out to the sharks of the World Money Power! Good God, we desperately need to resurrect the old Senate and House silver “blocs,” and form alliances with whoever we can, to get America headed back to Constitutional money, to safeguard rights of miners, investors, and businesses, and to prevent any such nightmare as OPA from ever again being visited upon America!
A satirical cartoon I once saw showed a man who was bent over backwards so far that his face was at the surface of his rump. The caption said “I’m trying to see things from your point of view!” This we say to the silver users, monetary economists and their sponsors, the New York Boys with their diseased unbacked currency.
Very hostile to silver are
the New York Boys,
Zero operators like Walter
Propagandizing against the
Senate silver bloc,
Fascist Italy here in the
Bankers and silver users
can’t cause more dumping,
Argentina returning to
gold, and so must we!
Fiat money economists
belching out distorted views,
Which is worse, a maniac or