August 31, 2012 By Joseph P. Farrell


Chapter 49 — The History of Banking Control in the United States français

Lincoln called these Greenbacks “the greatest blessing the American people have ever had.” A blessing for all, except for the bankers, since it was putting an end to their racket, to the stealing of the nation's credit and issuing interest-bearing money. So they did everything possible to destroy these Greenbacks and sabotage Lincoln's work. Lord Goschen, spokesman of the Financiers, wrote in the London Times (Quote taken from Who Rules America by C. K. Howe, and reproduced in Lincoln Money Martyred by Dr. R. E. Search):

“If this mischievous financial policy, which has its origin in North America, shall become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. That Government must be destroyed, or it will destroy every monarchy on the globe.” (The monarchy of the money lenders.)

First, in order to cast discredit on the Greenbacks, the bankers persuaded Congress to vote, in February of 1862, the “Exception Clause”, which said that the Greenbacks could not be used to pay the interest on the national debt, nor to pay taxes, excises, or import duties. Then, in 1863, having financed the election of enough Senators and Representatives, the bankers got the Congress to revoke the Greenback Law in 1863, and enact in its place the National Banking Act. (Money was then to be issued interest-bearing by privately-owned banks.)