104

* NOTE: In the United States, after the stockholders of the Federal 

Reserve System had consolidated their power in 1934, our government 

also issued orders that private citizens could not store or hold gold.

58

William Paterson (1658-1719) himself benefited little from "the moneys 

which the bank creates out of nothing", as he withdrew, after a policy 

disagreement, from the Bank of England a year after it was founded. A 

later William Paterson became one of the framers of the United States 

Constitution, while the name lingers on, like the pernicious central bank 

itself.

Paterson had found himself unable to work with the Bank of England’s 

stockholders. Many of them remained anonymous, but an early 

description of the Bank of England stated it was "A society of about 

1330 persons, including the King and Queen of England, who had 

10,000 pounds of stock, the Duke of Leeds, Duke of Devonshire, Earl of 

Pembroke, and the Earl of Bradford."

Because of his success in his speculations, Baron Nathan Mayer de 

Rothschild, as he now called himself, reigned as the supreme financial 

power in London. He arrogantly exclaimed, during a party in his 

mansion,  "I  care  not  what  puppet  is  placed  upon  the  throne  of 

England to rule the Empire on which the sun never sets. The man that 

controls Britain’s money supply controls the British Empire, and I control 

the British money supply."

His brother James in Paris had also achieved dominance in French 

finance. In Baron Edmond de Rothschild, David Druck writes, "(James) 

Rothschild’s wealth had reached the 600 million mark. Only one man in