Peabody opens business in Georgetown, D.C. as Peabody, Riggs & Company
operating the Georgetown Slave Market.
Heavy government borrowing
to finance the War of 1812 leads to a shortage of capital reserves in existing
banks which leads to the establishment of new banks, thus greatly expanding the
money in circulation.
Duke of Wellington's attacks and eventually forces
Napoleon Bonaparte to
abdicate. Louis XVIII is crowned King of France.
Napoleon Bonaparte is exiled to the
tiny island of Elba, off the coast of Italy.
escapes exile and assembles an army which the Duke of Wellington defeats in
less than 90 days later at Waterloo. Nathan Mayer Rothschild sends a trusted
courier, Rothworth, to Waterloo where he stays on the edge of the battlefield.
Once the battle appears decided, Rothworth crosses the Channel, and delivers
the news of Wellington's victory to Nathan Mayer Rothschild a full 24 hours
before Wellington's own courier.
Nathan Mayer Rothschild hurries to the London
Stockmarket and stands in his usual position. All eyes were on him as the
Rothschilds had a legendary communications network. Nathan Mayer Rothschild
stood there looking forlorn, suddenly started selling. The other traders
believed that this meant he had heard that Napoleon Bonaparte had won so they all
started selling frantically. The market subsequently plummets as everyone
is selling their Consuls (British Government Bonds).
Rothschild secretly started buying them all up through his agents on the floor,
for a fraction of what they were worth only hours before. A lot of these
consuls are converted to Bank of
This is how Nathan Mayer Rothschild takes control of
the Bank of England and the British
Nathan Mayer Rothschild married Hannah Barent-Cohen and
is related by marriage to Karl Heinrich Marx. Nathan
Mayer Rothschild openly bragged that in his 17 years in England he had
increased his initial £20,000 stake given to him by his father, 2500
times to £50,000,000.
"If you will look
back at every war in Europe during the Nineteenth Century, you will see that
they always ended with the establishment of a 'balance of power.' With every
re-shuffling there was a balance of power in a new grouping around the House of
Rothschild in England, France, or Austria. They grouped nations so that if any
king got out of line a war would break out and the war would be decided by
which way the financing went." - Stuart Crane
Stuart Crane notes that there are two means used to collateralize loans to
governments and kings. Whenever a business firm borrows big
money its creditor obtains a voice
in management to protect the investment. Like a business, no government can
borrow big money unless willing to surrender to the creditor some
measure of sovereignty
as collateral." - Gary Allen
Peabody, Riggs & Company move to Baltimore where they operated from 1815 to
1835. George Peabody finds himself
increasingly involved with business originating from London, and in 1835, he
established the firm of George Peabody & Company in London. Nathan Mayer
Rothschild funds George Peabody's ascension into London society.
George Peabody operates in stock
markets with a half million pounds on hand, and became very astute in buying
and selling on both sides of the Atlantic.
Junius Spencer Morgan,
father of John Pierpont
Morgan, acts as George Peabody's American agent.
George Peabody later concieves of the
idea of tax-exempt charitable foundation by founding the Peabody Fund
established in 1867 with $2 million . The Peabody Fund was established to
provide money for construction, endowments, scholarships, teacher and
industrial education for newly freed slaves. The Fund would seek locations
where there were sufficient numbers of students and cooperative public
officials who would combine the relatively small grant with tax money to build
the school. Northern merchantilists wanted to industrialize the
George Peabody is
succeeded by Junius Spencer
Morgan. Junius Spencer
Morgan expands the firm's activities by shipping large quantities of
railroad iron to the US from England.
This unregulated expansion leads Congress in to pass a bill permitting yet
another privately owned central bank to regulate the money supply. This bank is
called the, "Second Bank of the US," and it's charter is a carbon copy of its
predecessor, the First Bank of the US. The US government would once again
supposedly own 20% of the shares of the bank.
The Second Bank of the US
calls a halt to the expansion of the monetary supply and launches the painful
process of contraction which in turn creates the Panic of 1819.
Panic of 1819 Marks the end of the economic expansion that had
following the War of 1812. The first major financial crisis in the US after the
depression of the late 1780s results in widespread foreclosures, bank failures,
unemployment, and a slump in agriculture and manufacturing.
1826 Talley stick is taken out of circulation in England.
1828 Opponents of this central bank nominated
Senator Andrew Jackson of Tennessee to run for President. To illustrate how
deep this cancer is rooted in government, Andrew Jackson fires 2,000 of the
11,000 employees of the Federal government.
Second Bank of the US, asks Congress to pass a
renewal of the bank's charter,
four years early. Congress complies and sends the bill to Andrew Jackson for
Andrew Jackson vetoes the bill. Congress is unable to override
Andrew Jackson's veto. Andrew Jackson stands for re-election and for the first
time in American history he takes re-election campaign on the road. His
campaign slogan is, "Jackson And No Bank!"
Andrew Jackson appoints Roger B. Taney as Secretary of State for the Treasury,
with instructions to start removing the government's
deposits from the Second Bank of the
US. Andrew Jackson's previous two Secretaries of State for the Treasury,
William J. Duane and Louis McLane had both refused to comply with Andrew
Jackson's request and were fired as a result. However the head of the Second
Bank of the US, Nicholas Biddle, uses his influence to get the Senate to reject
Roger B. Taney's nomination and even threatens to cause a depression if the
Bank is not re-chartered.
"This worthy President thinks that because he
has scalped Indians and imprisoned judges, he is to have his way with the Bank.
He is mistaken."- Nicholas Biddle
Nicholas Biddle then went on to
brazenly admit that the central bank was intending to make money scarce in
order to force the hand of Congress into re-chartering the bank.
Nicholas Biddle makes good on his word, and the Second Bank
of the United States, sharply contracts the money supply by calling in old
loans and refusing to issue new ones. A financial panic ensued.
fall of 1833 the removal of the deposits was made, and the Panic of 1834
followed. The bank, by October, 1834, had contracted it circulation nearly 20
per cent. When its attempt to coerce a restoration of the deposits and a
renewal of the charter failed it
commenced an expansion. The great expansion produced the disastrous excesses of
1835 and 1836. The bank is justly responsible for the for the whole amount of
the expansion from the lowest point of contraction in 1834." - Samuel Jones
1835 Congress assembles what is called
the, "Panic Session," and on March 27 Andrew Jackson is officially censured by
Congress for withdrawing funds from the Second Bank of the US, in a vote which
passed the Senate by 26 to 20.
Nicholas Biddle had been caught boasting
in public about the bank's plan to crash the American
economy. In a complete about turn on April
4, the House of Representatives voted 134 to 82 against re-chartering the
Second Bank of the US. A special committee was established to investigate
whether the Second Bank of the US had caused the crash. When the investigating
committee arrived at the bank's door in Philadelphia with a subpoena
authorizing them to inspect the books, Nicholas Biddle refused to give them up,
or allow inspection of correspondence with Congressmen relating to their
personal loans and advancements he had made to them. Nicholas Biddle also
refused to testify before the committee back in Washington.
1836 Charter for the Second Bank of the US expires, and the
bank ceases functioning as America's central bank. Nicholas Biddle is later
arrested and charged with fraud. Nicholas Biddle was tried and acquitted but
died in 1844 still battling civil suits.
1837 Bank of England increases the interest rate paid to
depositors effectively curtailing
investment in America in response to Andrew Jackson refusing to
renew the central bank charter.
Lack of liquidity in the credit market
due to the withdrawal of funds creates the Panic of 1837. Out of 850 banks in the US,
343 closed entirely, 62 failed partially, and the system of state banks
received a shock from which it never fully recovered.
Contraction of the currency immediately follows.
"The Panic of 1837 was aggravated by
the Bank of England when it in one
day threw out all the paper connected with the US." - Henry Clews
There was no expansion of the currency after 1837 until the discovery
of the gold mines of California in 1849 and the silver mines in Nevada in 1859.
1838 Andrew Jackson pays off the final installment
of the national debt. Richard Lawrence
attempts to shoot Andrew Jackson, but both pistols misfire. Richard
Lawrence openly bragged that powerful
people in Europe hired him and promised to protect him. Richard
Lawrence is found not guilty by reason of insanity.
1842 $64,000,000 of currency, a little over three dollars per
capita, is in circulation. A tide of bankruptcy without precedent sweeps the
country. From 1837 to 1850 the scarcity of money depressed
prosperity and the
wheat, cotton, pork and beef of the American farmer was purchased at depressed prices.
1850 State banks again began to expand, and once
more America had fair prices for produce and prosperous times. The expansion
continues until 1857. There was no inflation, the currency was not in excess of
the legitimate needs of business and prices were not too high.
(James) Rothschild in France is said to be worth 600 million francs, which at
the time was 150 million francs more than all the other bankers in France put
1855 Creditanstalt-Bankverein founded
by Anselm Salomon Freiherr von Rothschild to finance industrialization projects
in the Austrian Empire primarily in the field of railroad construction
companies (Lombardian-Venetian state-owned railway) and the iron industry
(Prague Iron Industry Company).
"From the time I took office as Chancellor of the
Exchequer, I began to learn that the State held, in the face of the Bank and
the City, an essentially false position as to finance. The government itself
was not to be a substantive power, but was to leave
the Money Power supreme and
unquestioned." - William Gladstone
Between 1854 to 1864, the Rothschilds furnished in
loans, $200,000,000 to England, $50,000,000 to Austria, $40,000,000 to Prussia,
$130,000,000 to France, $50,000,000 to Russia, $12,000,000 to Brazil, in all
$482,000,000. Panic of 1857 New York City branch of
the Ohio Life Insurance and Trust Company fails when the Bank of England
called all loans to British investors in American banks. Grain prices fell with
the end of the Crimean War and Russian re-entry into
global markets and
land speculation based on forecasts
of new railroads collapsed. More than 5,000 American businesses failed within a year.
The Bank of England lends
George Peabody & Company
£ 5,000,000 during the Panic of
American Civil War begins at Fort
Sumter, South Carolina, after South Carolina leaves the Union. Slavery has
always been cited as the cause of the war but this was simply not the case.
"I have no purpose directly or indirectly to interfere with the
institution of slavery in the state where it now exists. I believe I have no
lawful right to do so, and I have no inclination to do so. My paramount
objective is to save the Union and it is not either to save or destroy slavery.
If I could save the Union without freeing any
slave, I would do it." -
Southern States were in a dire economic situation due to the actions of the
Northern States. Northern industrialists had used trade tariffs to prevent the
Southern States from buying cheaper European goods. Europe subsequently
retaliated by stopping cotton imports from the South. The South was being
forced to pay more for goods while having their income slashed.
division of the US into federations of equal force was decided long before the
Civil War by the
high financial powers of Europe,
these bankers were afraid that the United States if they remained as one block
and as one nation, would attain economic and financial independence which would
upset their financial domination over
the world. They foresaw tremendous booty if they could substitute two
feeble democracies, indebted to the Jewish financiers, to the vigorous
Republic, confident and self-providing. I fear that Jewish Banks with their
craftiness and tortuous tricks will entirely control the exuberant riches of
America, and use it to systematically corrupt modern civilization. The Jew will
not hesitate to plunge the whole of Christendom into wars and chaos, in order
that the earth should become the inheritance of Israel." - Otto Von Bismark
stated as Chancellor of Germany (1871 - 1890)
Only months after the
first shots are fired in South Carolina the
soulless central bankers loan
Napoleon III of France (the nephew of
Napoleon Bonaparte ), 210
million francs to seize Mexico and station troops along the Southern border of
the US, by taking advantage of the American Civil War to return Mexico to
This was in violation of the, "Monroe Doctrine," which was issued by
President James Monroe during his
seventh annual State of the Union address to Congress, in 1823.
return, the US planned to stay neutral in wars between European powers and in
wars between a European power and its colonies. However, if these latter type
of wars were to occur in the Americas, the US would view such action as hostile
While the French were breaching the,
Monroe Doctrine in Mexico, the
British followed suit by moving 11,000 troops into Canada and positioning them
along the Canadian border.
Österreichische Boden-Credit-Anstalt founded entirely independent from
government. Austrian central bank policymakers are unhappy with the premium
which has to be paid when exchanging Austrian banknotes for
1864 Anglo-Oesterreichische Bank founded.
During the "Grundentlastung," many members of the high nobility had a
substantial amount of liquid funds at their disposal and were among the major
shareholders of the new joint stock corporate banks. These banks made the
financial resources of the Viennese financial center increase
1866 Alexander II of Russia narrowly
escaped an assassination attempt in the city of Kiev and Ferdinand Cohen-Blind
fails to assassinate Otto von Bismarck in Unter den Linden in Berlin. On June
14 the Austro-Prussian War begins.
The Austrian government relies on
central bank funding during the war. Due to a breach of the provisions of the
central banks sole issuing right the government is obliged to pay compensation
in the form of interest. These are the first government backed bands
1873 Due to large expenditures on the World Exposition, held
in 1873 in the Austrian-Hungarian capital of Vienna, and the resulting
speculation on future trade, along with
the previous debt amassed fighting the
Austro-Prussian War, on May 9th, 1873,
around two dozen insurance undertakings went
into liquidation or became bankrupt with the meltdown of the Vienna Stock
Exchange in Austria.
On September 19, due to the meltdown of the Vienna
Stock Exchange, Jay Cooke and Company, a major component of the America's
banking establishment, is unable to market several million dollars in Northern
Pacific Railroad bonds which precipitates Jay Cooke and Company's
sweeps the New York Stock Exchange precipitating the
Panic of 1873. Only the American branch of
Jay Cooke and Company goes bankrupt - the London branch suffered no ill
back to stacks
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