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and Garfield, making a pronouncement on currency problems just 

before he was assassinated.

We now begin to understand why such a lengthy campaign of 
planned deception was necessary, from the secret conference at 
Jekyll Island to the identical "reform" plans proposed by the 

Democratic and

__________________________

* Crozier’s book exposed the financiers plan to substitute 
"corporation currency" for the lawful money of the U.S. as 
guaranteed by Article I, Sec. 8 Para. 5, of the Constitution.

20 

Republican parties under different names. The bankers could not 
wrest control of the issuance of money from the citizens of the 

United States, to whom it had been designated through its Congress 
by the Constitution, until the Congress granted them their monopoly 
for a central bank. Therefore, much of the influence exerted to get 

the Federal Reserve Act passed was done behind the scenes, 
principally by two shadowy, non-elected persons: The German 

immigrant, Paul Warburg, and Colonel Edward Mandell House of 

Texas.

Paul Warburg made an appearance before the House Banking and 
Currency Committee in 1913, in which he briefly stated his 

background: "I am a member of the banking house of Kuhn, Loeb 
Company. I came over to this country in 1902, having been born 

and educated in the banking business in Hamburg, Germany, and 

studied banking in London and Paris, and have gone all around the 
world. In the Panic of 1907, the first suggestion I made was ‘Let us 

get a national clearing house.’ The Aldrich Plan contains some 

things which are simply fundamental  rules  of  banking.  Your  aim  in 

this plan (the Owen-Glass bill) must be the same--centralizing of 
reserves, mobilizing commercial credit, and getting an elastic note 
issue."

Warburg’s phrase, "mobilization of credit" was an important one, 
because the First World War was due to begin shortly, and the first 
task of the Federal Reserve System would be to finance the World 

War. The European nations were already bankrupt, because they 

had maintained large standing armies for almost fifty years, a 
situation created by their own central banks, and therefore they