Page 31 - Lunacy and the Age of Deception

President James Madison. It too was given a twenty year charter. Interestingly, it was war debts that
were used as the main justification to establish both of these central banks. The existing debts from
the American Revolution were cited as the main impetus for establishing the First Bank of the
United States, and debts incurred from the American conflict with England in the War of 1812 were
cited as the main reason to establish the Second Bank of the United States. It is conveniently
coincidental, is it not, that the year following the dissolution of America’s first central bank, the
nation found itself engaged in a second costly war with England?

Through the expansion and retraction of credit, the SBUS caused chaos in the American economy,
a ploy that has often been repeated by central bankers, and which has led to recent boom and bust
cycles in the American and global economies. As the citizens of America became aware of the
complicity of the SBUS in causing chaos in the national economy, a vocal opposition arose. The
champion of this opposition was President Andrew Jackson. In a veto message given on July 10,
1832, Jackson stated the following.

It is maintained by some that the bank is a means of executing the constitutional power “to coin
money and regulate the value thereof.” Congress have established a mint to coin money and passed
laws to regulate the value thereof. The money so coined, with its value so regulated, and such
foreign coins as Congress may adopt are the only currency known to the Constitution. But if they
have other power to regulate the currency, it was conferred to be exercised by themselves, and not
to be transferred to a corporation. If the bank be established for that purpose, with a charter
unalterable without its consent, Congress have parted with their power for a term of years, during
which the Constitution is a dead letter. It is neither necessary nor proper to transfer its legislative
power to such a bank, and therefore unconstitutional.

With these words, President Jackson clearly defined the struggle that had been long taking place in
the U.S. government. The Congress was being induced to abdicate its powers over the money of the
nation as a cabal of bankers were seeking to usurp the same right. It was understood by men such
as Thomas Jefferson and Andrew Jackson that whoever controlled the nation’s money supply would
inevitably control the government. This is a truth clearly understood by the bankers as well. In 1790
Mayer Amschel Rothschild, head of the Rothschild group of international bankers, said, “Permit me
to issue and control the money of a nation and I care not who makes its laws.” This is a truth that
Napoleon Bonaparte, Emperor of France, understood. It was he who stated,

When a government is dependent upon bankers for money, they and not the leaders of the
government control the situation, since the hand that gives is above the hand that takes. Money has
no motherland; financiers are without patriotism and without decency; their sole object is gain.

It required a soldier with the courage of Andrew Jackson, a hero in the War of 1812, to defy the
bankers and refuse to renew their charter. Members of Congress attempted to renew the charter for
the central bank several years before it was due to expire. President Jackson opposed the bank’s
renewal and vetoed the bill. His veto was sustained. The banking powers attempted to assassinate
Jackson on more than one occasion, but were unsuccessful. Martin Van Buren reported in his
autobiography that Jackson stated to him in 1832 “The bank, Mr. Van Buren, is trying to kill me, but
I shall kill it.” One of the most famous quotes ascribed to Andrew Jackson relating to his war with