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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, the Contract Clause of the
Constitution can not be invalidated, even if the contract has been
illegally secured.
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 activity.
The only
disadvantage is 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;
Newly mined gold and silver currency allows
investment on a massive scale.
Through the Bank of England global trade is
effectively monopolized.
1848
AT Stewart "Marble Palace"
at 280 Broadway opens with a thousand clerks and twenty million dollars worth
of a variety of goods on the shelves.
This is the birth of consumer
culture in the United States.
Consumer culture refers to the
theory modern human society is so
strongly subjected to consumerism stresses that the
centrality of purchasing
goods and services is a cultural practice fostering
many 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 around 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 Kuhn &Loeb.
Chicago is becoming the railroad and business center for the
Northwest.
It is the city best adapted to become the trade center of the
country as St. Louis is already being operated by established American capital.
1871 The fire started
at about 9:00 PM 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 6 to 10
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 crushes all
competitors and takes possession of the entire oil industry of America
establishing a monopoly.
Only the Texas oilmen survives outside the
Standard Oil Trust
due to an injunction 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 until 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 takes 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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