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Resource Confiscation: Countries invaded by the
British Empire
1810 Supreme Court rules
in Fletcher v. Peck, the first ruling to
overturn state
law, that the Contract Clause of
the Constitution could not be invalidated, even if the contract was
illegally secured.
1837 During the
Panic of 1837 Moses Taylor* doubles his fortune
as many Americans go bankrupt during an abrupt
contraction of credit - more
than half the business' in New York fail.
1844
Peel Banking Act recognizes the Bank of England as the central
note-issuing authority, and as the lender of last resort.
"I
have shown that our system is that of a single bank keeping the whole reserve
under no effectual penalty of failure." - Walter Bagehot, Lombard Street: A
Description of the Money Market, 1873
1846 In
every country of the Temperate zone, the demand for British manufactured goods
is much greater than can be paid for by exports.
To equalize this
trade imbalance product
has to be delivered on credit.
Without the extension of credit in the
form of loans the ruling elites are unable to purchase the luxury goods they
crave.
As prices paid for raw materials are unable to compete with
prices paid for finished goods resource
pirates easily expropriate resources.
It purchases all it
wants, and the adverse balance of trade actually makes times better; for it
causes the profits of the Money
Power to be invested in the country, stimulating business into activity.
The only disadvantage was that the business investment does not belong
to the nation but to the Money Power.
The prosperity created is not
national prosperity but the
bloated gains of the Money Power.
With export profits growing
faster than import needs the mother country invests purchasing:
vast
swaths of land connected to sea ports through
railroads;
tropical
plantations in Java and Ceylon for the growth of
coffee, indigo,
rice,
opium,
spices;
sheep ranches in
Australia and
South Africa;
cattle ranches throught North and
South America;
sugar plantations in the West Indies and the Sandwich
Islands;
tea plantations in China; ruby mines in
Burma;
diamond mines in India,
South Africa and
Brazil;
lumber mills in Canada,
Norway, Sweden and Poland;
factories,
city houses,
city building and city buildings in all countries.
gold and
silver mines in California, the
Rocky Mountains, Australia,
Mexico and South America;
The newly mined gold and silver currency
allows investment on a massive scale.
Through the Bank of England global trade
was effectively monopolized.
1848
AT Stewart "Marble Palace" at 280
Broadway opens with a thousand clerks and twenty million dollars worth of a
huge variety of goods on the shelves.
This is the birth of consumer
culture in the United States.
Consumer culture refers to a the theory in
which modern human society so strongly subjected to consumerism stresses the
centrality of purchasing goods and services is
a cultural practice
fostering social behaviors.
1850 Construction
on the Panama Railroad begins.
1853
Kansas
City is planted as the outpost of Chicago, to take away the American trade
of the Southwest from St. Louis and carry it to Chicago.
"If anyone
wishes to see how these grand capitalists build up cities by the might of
capital, curiosity will be gratified by
observations in Kansas
City.
Every suburb is planted, not by pioneers, as in other new
towns, but by capitalists, who spend millions before they invite a settler.
A railroad is first built to the prospective town, the streets are
graded, gas and water pipes installed, the sidewalks laid and then settlers are
invited to make their homes in the new suburb." - L.B. Woolfolk
1855
Moses Taylor becomes president of
National City
Bank.
Panama Railroad, an interoceanic railroad, opens to traffic
allowing cargo from England to be shipped to the West coast of the Americas
without having to sail through the Cape of Good Hope.
1857 During the Panic of 1857,
National City Bank purchases
competitors.
Moses Taylor has an unlimited supply of cash for buying up
distressed stocks as does George Peabody and
Junius Spencer Morgan, JP Morgan's father.
Moses Taylor purchases nearly all the
stock of Delaware Lackawanna Railroad for $5 a share, seven years later, it is
selling for $240 a share.
"For such qualities of conservatism and
purity, George Peabody,
the old tree out of which the House of Morgan grew, was famous. In the Panic of
1857, when depreciated securities had been thrown on the market by
distressed investors in America, Peabody and the elder Morgan, being in
possession of cash, had purchased such bonds as
possessed real value freely, and then resold them at a large advance when
sanity was restored." - Matthew Josephson, The Robber Barons
1934
"One of the high water marks of the
successful Rothschild-Peabody Morgan business
venture was the Panic of 1857.
It had been twenty years since the Panic
of 1837: its lessons forgotten by eager investors anxious to
invest the profits of a
developing America.
The stock market operates like a wave washing
up on the beach.
They coast along at the crest of the "Tide of
Prosperity".
Suddenly the wave, having reached the high water mark
on the beach, recedes, leaving all of the creatures gasping on the sand.
Another wave may come in time to save them, but in all likelihood it
will not come as far, and some of the sea creatures are
doomed.
In
the same manner, waves of prosperity, fed by newly created money,
through an artificial contraction of
credit, recedes, leaving those it had borne high to gasp and die without
hope of salvation." - Eustice Mullins
1859 Discovery of oil in
Pennsylvania.
Americans embark in the new enterprise spending
millions prospecting for oil and millions more bringing product of successful
wells to market.
A railroad is built to the oil regions, but not built
to the oil wells.
Its terminus is fifteen miles away.
A few
wells are purchased and a pipe line corporation is organized.
A pipe
line is laid from the wells purchased, out to the railroad, with steam engines
stationed at intervals, to force onward the sluggish flow of oil.
Six
thousand wagons are hauling oil over corduroy roads to the terminus.
Well owners hauling the oil in barrels can not compete with the
pipeline.
The profits of oil barely cover expenses.
Individual
well owners plug up their wells waiting for another railroad.
1860
Armed with immense capital the Money Power monopolizes
vast lines of trade purchasing
sustenance industries - improved farms,
breweries,
flour mills and
meat packing.
Two-thirds of the
tonnage leaving New York
harbor is in American
ships.
When the American commercial marine brought American product
to a foreign port it received the fair market price with profits divided
between the American producer, American merchant and the
American ship
owner.
1862
The Homestead Act
A homestead is a 160 acre
rectangle, a quarter section, of public land in the West granted to any US
citizen willing to settle on and farm the land for at least five
years.
How the Feds Botched the Frontier Homestead
Acts
1863 Britian
realizes all profit beyond American shores..
Foreign shipping, mostly Great Britain,
carries three-quarters of the trade.
"By the time the CSS
Shenandoah lowered its flag, 715 American vessels had been transferred to the
British flag to escape bankruptcy." - Lynn Schooler
1864
We know from the Irish famines,
that a modern famine is not a dearth of food, so much as the lack of means to
buy bread.
During an Irish famine, an American vessel entering the
harbor of Cork with provisions sent by American charity to the starving Irish,
met two vessels sailing out of the harbor laden with food sent to a foreign
market.
The millions who have perished of hunger since the founding of
the East Indies Company were the victims of the Money Power decreasing the
value of labor and increasing the value of commodities.
With unlimited
funds from "profitable investments" the Money
Power made immense land investments in India purchasing the very rich delta
lands along the streams of the alluvial plains of the Ganges and the
Brahmaputra rivers which stretched from the sea to the foot of the Himalaya
Mountains.
Offering the alternative of settling on the new plantations
or starving the Indian
became a race of serfs tilling the soil for subsistence
wages.
Produce grown at starvation wages flooded world markets
forcing down the price of products all over the Earth to the
pauper standard of labor.
"The current money system obliges us to incur
debt collectively, and to compete with others to obtain
the means to trade." - Bernard Lietaer
"The man at whose house I
boarded told me one day he had been rich, but had failed in business: he
obtained support by taking boarders .
Misery loves company and
the tall trees of the forest fell when I went down.
Why sir, not
more than three or four business men in New York, who were prominent in
business before the War, are in business now. They all failed.
Nobody knew what hurt them, business took
new channels, their business left them and they went broke." - L.B.
Woolfolk
"They are ceaselessly
storing wealth that flows from the rest of the world .
Men in strange
dresses speaking all manner of tongues are seen preparing luxuries for the
Temple, which flow thither in long streams across the land.
And still
the work of storing goes on: gold, silver, and all precious things, the
delights of life, the cream of the Earth; good things accumulate higher and
higher in the chambers of the Temple." -
City of London,
Blackwood, 1864
1870
John D. Rockefeller
incorporates Standard
Oil in Ohio.
John D.
Rockefeller is financed by the Kuhn &Loeb.
Chicago
is rapidly becoming a railroad and business center for the Northwest.
It
is the city best adapted to become the trade center of the country with the
exception of St. Louis which is being operated by established American capital.
1871
Nobody ever knew how the fire
originated.
The fire started at about 9 p.m. on Sunday, October 8, in
or around a small shed that bordered the alley behind 137 DeKoven Street.
The mythical origin of the fire is that it was started by a cow kicking
over a lantern in the barn owned by Patrick and Catherine O'Leary.
Michael Ahern, the Chicago reporter who penned the cow myth, admitted
in 1893 that he had made it up because he thought it would make colorful
copy.
A high wind prevailing at the time swept the flames through the
center of the city, leaving a path of desolation three-fourths of a mile wide.
The business center of Chicago was reduced to ashes.
The business community had been doing
business in cheap two-story houses.
Capital for large scale rebuilding could only be
found in the City of London.
The
Money Power dictated splendid structures, from six to ten
stories high, the upper stories of which could only be rented for offices or
lodgings, be built.
When the Panic of 1873
occurred business was prostrate while renters were lacking for the upper
stories then as payments could not be made mortgages were foreclosed on many of
the grand Chicago business blocks.
1872
Standard Oil absorbs or
destroys most of its competition in Cleveland in less than two months and later
throughout the northeastern US.
Standard Oil crushed all
competitors and takes possession of the entire oil industry of America
establishing a monopoly.
Only the Texas oilmen survived outside the
Standard Oil Trust
as an injunction was issued against
Standard Oil doing
business in Texas.
1873
The New England textile mill owners have to sell their goods as cheap as the
English goods are offered in the custom house, at one-tenth of a cent a yard
below the cost of production.
They had to keep on running, even at a
loss; for the delicate machinery, if suffered to lie idle for six months, would
become lopsided and worthless.
New England textile mills continued to
run on at a loss until they all failed.
"The
Mills of New England first put
me on the track of the Money Power.
Money Power had brought on the
Panic of 1873, by the failure of
Jay Cooke.
I was sure of
engineering finance to suit their own
interests." - L.B. Woolfolk
When A&W Sprague fails
a tide of bankruptcy sweeps over New England.
The newspapers at the time are filled with bankruptcy notices.
For five years
all business is crushed and lifeless.
As
iron works fail Money Power buys
mines, foundries and machine shops.
As lumber companies go broke they
buy the mills and
the forested lands.
A grand
harvest of foreclosure of mortgaged property.
1877 Supreme Court decision of
Munn vs.
Illinois approves state laws to regulate prices charged to farmers for
the use of the grain elevators.
After the
Civil War the fluctuation in the
price of lumber, the cuts in prices between different dealers is evidence of
the war on independent lumber men.
The ownership of the railroads gave
such an advantage to the Money Power in
shipping their lumber to
market that all competitors were crushed.
1878 If a mine
proves to be rich, poorer levels near the surface are worked untill the
limited partners become discouraged and sell out their
stock cheap.
If the mine proves to be a pocket, like the Emmy Mine,
newspapers puff it until outsiders have bought the stock; then the true state
is revealed.
1885
The "Cotton Seed Oil Trust" takes possession of the small American producers to
manufacture
bogus lard and cooking oils.
The American producers had sold cotton
seed oil as light weight lubricating oil.
National Linseed Oil Trust of
St. Louis is formed to protect linseed interests in the US.
A "Sugar
Trust" takes possession of
the sugar production and traffic.
A "Whiskey Trust"
monopolizes manufacture and sale of
distilled liquors.
"A riot of adulteration and chicanery ensued,
with whisky being made in many saloon cellars and the
dangerous secrets of synthetic
booze-making being peddled abroad among the customers of the trust." - The
Dearborn Independent, December 17, 1921
How Jews Gained American Liquor Control
A "Cattle
Trust" took possession of the cattle ranches, the raising of
cattle and production of beef.
Trusts, each with millions of capital,
began monopolizing production and
traffic in salt, lead, cordage, nails, coke, lumber, sheet zinc, copper,
crucible steel, and other products.
"Trusts" depress prices until
competition is destroyed and increase the price of the articles they monopolize
to whatever the market can bear.
Trusts war upon individual competitors
is a war upon national prosperity.
Trusts are a
conspiracy against the prosperity
of any nation as they destroy
individually enterprising
men through the slow torture of financial ruin.
Cumulative individual
loss strikes a blow to the heart of national prosperity.
1886 Supreme Court
decision of Wabash
vs. Illinois abolishes 230 state laws passed to regulate rates charged
by the railroads, rates for use of the grain elevator and other
laws passed to regulate
corporations.
1888 Southern cotton
syndicate is formed to subsidize
the cotton
market.
Southern cotton is
delivered to the syndicate at offered price until syndicate capital is spent,
then cotton sinks to one and one-half cents a pound.
57% of the cattle
companies are broke and need operating capital.
They sell promises to
deliver (futures) in order to obtain operating capital.
Cattle bought on
the cheap with futures contract loans
are resold wholesale for top dollar to meat packers at a considerable
markup.
A "Coffee Trust" sets to work to destroy the coffee merchants.
The Money Power reduces the price of coffee to break competitors of the
trust and as soon as this is accomplished the trust doubles the original
price.
1911 The Standard Oil Trust is ruled
illegal by the Supreme Court and
fined $29,000,000 which
is never paid. |
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