Royalty Production Company 1998
One month after the inauguration of Abraham Lincoln, the first shots of the American Civil War were fired at Fort Sumter, South Carolina on April 12,1861. …
Certainly slavery was a cause for the Civil War, but not the primary cause. Lincoln knew that the economy of the South depended upon slavery and so (before the Civil War) he had no intention of eliminating it. Lincoln had put it this way in his inaugural address only one month earlier:
“I have no purpose, directly or indirectly, to interfere with the institution of slavery in the states where it now exists. I believe I have no lawful right to do so, and I have no inclination to do so.”
Even after the first shots were fired at Fort Sumter, Lincoln continued to insist that the Civil War was not about the issue of slavery:
“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.”
So what was the Civil War all about? There were many factors at play. Northern industrialists had used protective tariffs to prevent their southern states from buying cheaper European goods. Europe retaliated by stopping cotton imports from the South. The Southern states were in a financial bind. They were forced to pay more for most of the necessities of life while their income from cotton exports plummeted. The South grew ncreasingly angry.
But there were other factors at work. … The central bankers now saw an pportunity to use the North/South divisions to split the rich new nation – t divide and conquer by war. Was this just some sort of wild conspiracy theory? Well, let’s look at what a well placed observer of the scene had to say at time.
This was Otto von Bismarck, Chancellor of Germany, the man who united the German states in 1871. A few years later, in 1876, he is quoted as saying:
“It is not to be doubted, I know of absolute certainty,” Bismarck declared, “that the division of the United States into two federations of equal power 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 were to develop as one nation, would attain economic and financial independence, which would upset the capitalist domination of Europe over the world.”
Within months after the first shots were fired at Fort Sumter, the central bankers loaned Napoleon III of France (the nephew of the Waterloo Napoleon) 210 million francs to seize Mexico and station troops along the southern border of the U.S., taking advantage of the Civil War to violate the Monroe Doctrine and return Mexico to colonial rule.
No matter what the outcome of the Civil War, it was hoped that a war-weakened America, heavily indebted to the Money Changers, would open up Central and South America once again to European colonization and domination.
At the same time, Great Britain moved 11,000 troops into Canada and positioned them along America’s northern border. The British fleet went on war alert should their quick intervention be called for.
Lincoln knew he was in a bind. He agonized over the fate of the Union. There was a lot more to it than just differences between the North and the South. That’s why his emphasis was always on “Union” and not merely the defeat of the South. But Lincoln needed money to win.
In 1861, Lincoln and his Secretary of the Treasury, Salmon P. Chase, went to New York to apply for the necessary war loans. The Money Changers, anxious to maximize their war profits, only offered loans at 24-36% interest. Lincoln said thanks, but no thanks, and returned to Washington. He sent for an old friend, Colonel Dick Taylor of Chicago, and put him onto the problem off financing the War. At one particular meeting, Lincoln asked Taylor how else to finance the war. Taylor put it this way:
“Why, Lincoln, that is easy; just get Congress to pass a bill authorizing the printing of full legal tender treasury notes… pay your soldiers with them and go ahead and win your war with them also.”
When Lincoln asked if the people of the United States would accept the notes, Taylor said:
“The people or anyone else will not have any choice in the matter, if you make them full legal tender. They will have the full sanction of the government and be just as good as any money … the stamp of full legal tender by the Government is the thing that makes money good any time, and this will always be as good as any other money inside the borders of our country. “
So that’s exactly what Lincoln did. From 1862 to 1865, with Congressional authorization, he printed up $432,000,000 of the new bills.
In order to distinguish them from private bank notes in circulation, he had them printed with green ink on the back side. That’s why the notes were called “Greenbacks.” With this new money, Lincoln paid the troops, and bought their supplies. During the course of the war, nearly all of the 450 million dollars of Greenbacks authorized by Congress were printed at no interest to the federal government.
By now Lincoln realized who was really pulling the strings and what was at stake for the American people. … This is how he explained his monetary views:
“The Government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the Government and the buying power of consumers… The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity… By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest. The financing of all public enterprises, and the conduct of the Treasury will become matters of practical administration. Money will cease to be master and become the servant of humanity.”
Meanwhile in Britain a truly incredible editorial in the London Times explained the Bank of England’s attitude towards Lincoln’s Greenbacks.
“If this mischievous financial policy, which has its origin in North America, shall become indurate down to a fixture, then the Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe.”
Keep in mind, by this time the European monarchs were already chained to their private central banks, hence the bankers’ concern to preserve their captive monarchs. Within four days of the passage of the law that allowed Greenbacks to be issued, bankers met in convention in Washington to discuss the situation. It was agreed that Greenbacks would surely be their ruin. Something had to be done. They devised a scheme gradually to undermine the value of the Greenbacks.
Seemingly unimportant limitations on the use of Greenbacks (printed on the green back), insisted on by the bankers, forbidding their use to pay import duties and interest on the public debt, were utilized by the banks to slap a surcharge on Greenbacks of up to 185%. This undermined the confidence of the people in Greenbacks and necessitated further concessions to the bankers to obtain more, discounted as the Greenbacks now were.
This scheme was effective – so effective that the next year, 1863, with Federal and Confederate troops beginning to mass for the decisive battle of the Civil War, and the Treasury in need of further Congressional authority at that time to issue more Greenbacks, Lincoln gave in to the pressure, which he described:
“They persist, they have argued me almost blind – I am worse off than St. Paul. He was in a strait between two. I am in a strait between twenty and they are bankers and financiers.”
Lincoln allowed the bankers to push through the National Banking Act of 1863 in exchange for their support for the urgently needed additional Greenbacks. This act created “National Banks” (hence the N.A. still in use after National banks’ names) and gave them a virtual tax-free status. The new banks also got the exclusive power to create the new form of money – National Bank Notes. Though Greenbacks continued to circulate, their quantity was limited and no more were authorized after the war.
The ones who REALLY pull the strings in politics are the ones who pull the PURSE strings. Sharon, Bush, Blair and their ilk are merely puppets. The REAL tyrants – the Mammonites, the Plutocrats, the gazillionaires – almost always remain nameless!
Courtesy Ardeshir Mehta and togethernet