The Legalized Crime of Banking and a Constitutional Remedy by Silas Walter Adams

By Silas Walter Adams

Copyrighted 1958 via Silas Walter Adams
Library of Congress Card quantity 58-9762

E-Text ready by
Gary Edwards
14th July 2002.
Note: Spelling has been replaced from
U.S. American to Australian.

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The alarming fact, and not the exact figures, was my object always. 2006 9:13:12 Silas Walter Adams, The Legalized Crime of Banking, ch 5 Chapter V Bankers Want Double Or Nothing Well, Josiah Stamp said that so long as a nation will let private corporations create money and control credit, one is foolish not to be a banker. Too, you have heard that there is no better way to learn than by doing. So let's you and I go into the banking business. I don't mean that we shall buy stocks in some bank. We are going to be top dogs or nothing - in this our makebelieve story.

My experience as chairman of the War Industries Board in World War One taught (me) that if 'inflation were to be prevented in a second war, a ceiling has to be imposed on all prices, wages, rents and profits at the very start of the emergency. ' The necessary over-all ceilings were not imposed for two years and then only after the inflationary race was on. " If price ceilings in war times, why not in peace times? Barney had his mind on what his dollar would not buy, and wanted to lay the whole blame on the price the seller charged.

Third, Commercial bank credit is convertible into bank deposits to the credit of borrowers from the banks, or sellers who sell to the banks investment obligations. ". S. Bonds, corporation stock, notes, mortgages, debentures, any investment obligation. When the Reserve authorities buy corporation stock, they give a cheque against no funds in payment for the stock, and the corporation deposits this cheque with its home bank. 2006 9:13:28 Silas Walter Adams, The Legalized Crime of Banking the Reserve Bank gives the member bank credit in its reserve fund the face of the cheque, dollar for dollar.

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