Difference between revisions of "Louis McFadden"

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{{person
 
{{person
 
|wikipedia=https://en.wikipedia.org/wiki/Louis_Thomas_McFadden
 
|wikipedia=https://en.wikipedia.org/wiki/Louis_Thomas_McFadden
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|twitter=
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|image=Louis T. McFadden.jpg
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|image=
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|birth_date=July 25, 1876
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|birth_date=
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|birth_place=Granville Center, Troy Township, Bradford County, Pennsylvania
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|birth_place=
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|death_date=October 1, 1936
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|death_date=
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|death_place=New York City
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|death_place=
 
 
|constitutes=banker, politician
 
|constitutes=banker, politician
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|interests=US Federal Reserve]
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|description= U.S. politician who at the end of his career opposed the [[US Federal Reserve]]. Died unexpectedly of "[[intestinal flu]]" in [[1936]], after two previous attacks against his life.
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|interests=US Federal Reserve
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|political_parties=Republican
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|victim_of=premature death
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|ON_death_cause=intestinal flu
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|employment={{job
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|title=US/Senate/Committee on Banking and Currency/Chair
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|start=June 7, 1920
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|end=March 4, 1931
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}}{{job
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|title=Member of the U.S. House of Representatives from Pennsylvania's 14th district
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|start=March 4, 1915
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|end=March 3, 1923
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}}{{job
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|title=Member of the U.S. House of Representatives from Pennsylvania's 15th district
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|start=March 4, 1923
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|end=January 3, 1935
 
}}
 
}}
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'''Louis McFadden''' was opposed to the [[US Federal Reserve]].
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}}
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'''Louis Thomas McFadden''' was a U.S. politician who at the end of his career opposed the [[US Federal Reserve]]. He criticized [[Henry Morgenthau Jr.]] as secretary of the Treasury under [[FDR]], who, in his words, "instigated a monetary policy by the money Jews of [[Wall Street]] and foreign parts."<ref>https://www.jta.org/archive/senate-may-shelve-tydings-report-house-expected-to-act-on-nazi-protest</ref>
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McFadden died unexpectedly of "[[intestinal flu]]" in [[1936]], after two previous attacks against his life.
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==Career==
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McFadden was elected to Congress in 1914 and sat there until [[1934]]<ref>http://bioguide.congress.gov/scripts/biodisplay.pl?index=M000434</ref>. Though a [[Republican]], he moved to impeach President [[Herbert Hoover]] in [[1932]]<ref>https://news.google.com/newspapers?id=FFcgAAAAIBAJ&pg=5317,196981&dq=louis-mcfadden+%7C+louis-t-mcfadden+new-york+heart&hl=en</ref> and introduced a resolution to bring conspiracy charges against the Board of Governors of the [[Federal Reserve]].
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He also made a 25-minute speech on the House floor accusing the Federal Reserve of deliberately causing [[the Depression]].<ref>The New York Times, "McFadden Links Bankers", The New York Times, December 1931, [https://www.proquest.com/docview/99231630/BA1E979F98C840BAPQ/1 p. 1]</ref> At the time, the chairman of the Federal Reserve Board was [[Eugene Meyer]] ,who resigned after [[Franklin D. Roosevelt]] was inaugurated as president in [[1933]] and purchased the [[Washington Post]] at a bankruptcy auction.<ref>Chalmers McGeagh Roberts (1977). [https://books.google.com/books?id=OY61AAAAIAAJ&q=%22Meyer+had+authorized+him+to+bid+up+to+$2+million%22&pg=PT146 The Washington Post: The First 100 Years.] Houghton Mifflin. p. 194. ISBN 978-0-395-25854-5. Retrieved 11 Sep 201</ref>
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Later, in [[1933]], McFadden introduced House Resolution No. 158, Articles of Impeachment for the Secretary of the Treasury, two assistant Secretaries of the Treasury, the Board of Governors of the Federal Reserve, and the officers and directors of its twelve regional banks.<ref>https://web.archive.org/web/20071118092952/http://www.time.com/time/magazine/article/0,9171,744826-1,00.html</ref>
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This was the end of McFadden political career. In the election of [[1934]], he lost his reelection bid to Democrat [[Charles E. Dietrich]] by 561 votes.
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==Death==
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After he lost his congressional seat in [[1934]], he remained in the public eye as a vigorous opponent of the [[financial system]]; that is, until his sudden death on October 3, [[1936]], of a "dose" of  intestinal flu" after attending a banquet in [[New York City]].<ref name=atlantic/>
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Reporting his death in its October 14 issue, ''Pelley’s Weekly'' stated that it had "became known among his intimates that he had suffered two [previous] attacks against his life. The first attack came in the form of two revolver shots fired at him from ambush as he was alighting from a cab in front of one of the Capital hotels. Fortunately both shots missed him, the bullets burying themselves in the structure of the cab." Next, "He became violently ill after partaking of food at a political banquet at Washington. His life was only saved from what was subsequently announced as a poisoning by the presence of a physician friend at the banquet, who at once procured a stomach pump and subjected the congressman to emergency treatment."<ref name=atlantic>https://web.archive.org/web/20090217171933/quoted in http://www.atlanticfreepress.com/news/1/4513-louis-t-mcfadden-1876-1936-an-american-hero.html</ref>
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==Federal Reserve==
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In his June 10, [[1932]], address on the House floor, he declared:
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{{SMWQ
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|subjects=US/Federal Reserve,The Money Trust
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|text=Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the [[Federal Reserve Board]] and the Federal reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough [[money]] to pay the [[national debt]]. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the [[United States]]; has bankrupted itself, and has practically [[bankrupted]] our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board and through the corrupt practices of the moneyed vultures who control it.<br>
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From the Atlantic to the Pacific our country has been ravaged and laid waste by the evil practices of the Federal Reserve Board and the Federal Reserve banks and the interests which control them … This is an era of economic misery, and for the conditions that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable.<br>
 +
 
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The imperial power of elasticity of the public currency is wielded exclusively by the central corporations owned by the banks. This is a life and death power over all local [[banks]] and all business. It can be used to create or destroy prosperity, to ward off or cause stringencies and panics. By making money artificially scarce, interest rates throughout the Country can be arbitrarily raised and the bank tax on all business and cost of living increased for the profit of the banks owning these regional central banks, and without the slightest benefit to the people. The 12 Corporations together cover and monopolize and use for private gain every dollar of the public currency and all public revenue of the United States. Not a dollar can be put into circulation among the people by their Government, without the consent of and on terms fixed by these 12 private money trusts.'
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|source_URL=https://famguardian.org/Subjects/MoneyBanking/Articles/mcfadden.htm
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|authors=Louis McFadden
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|date=1934
 +
}}
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{{SMWDocs}}
 
{{SMWDocs}}
 
==References==
 
==References==
 
{{reflist}}
 
{{reflist}}
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{{Stub}}
 

Latest revision as of 11:15, 12 January 2023

Person.png Louis McFadden  Rdf-entity.pngRdf-icon.png
(banker, politician)
Louis T. McFadden.jpg
BornJuly 25, 1876
Granville Center, Troy Township, Bradford County, Pennsylvania
DiedOctober 1, 1936 (Age 60)
New York City
Cause of death
"intestinal flu"
Victim ofpremature death
InterestsUS Federal Reserve
PartyRepublican
U.S. politician who at the end of his career opposed the US Federal Reserve. Died unexpectedly of "intestinal flu" in 1936, after two previous attacks against his life.

Louis Thomas McFadden was a U.S. politician who at the end of his career opposed the US Federal Reserve. He criticized Henry Morgenthau Jr. as secretary of the Treasury under FDR, who, in his words, "instigated a monetary policy by the money Jews of Wall Street and foreign parts."[1]

McFadden died unexpectedly of "intestinal flu" in 1936, after two previous attacks against his life.

Career

McFadden was elected to Congress in 1914 and sat there until 1934[2]. Though a Republican, he moved to impeach President Herbert Hoover in 1932[3] and introduced a resolution to bring conspiracy charges against the Board of Governors of the Federal Reserve.

He also made a 25-minute speech on the House floor accusing the Federal Reserve of deliberately causing the Depression.[4] At the time, the chairman of the Federal Reserve Board was Eugene Meyer ,who resigned after Franklin D. Roosevelt was inaugurated as president in 1933 and purchased the Washington Post at a bankruptcy auction.[5]

Later, in 1933, McFadden introduced House Resolution No. 158, Articles of Impeachment for the Secretary of the Treasury, two assistant Secretaries of the Treasury, the Board of Governors of the Federal Reserve, and the officers and directors of its twelve regional banks.[6]

This was the end of McFadden political career. In the election of 1934, he lost his reelection bid to Democrat Charles E. Dietrich by 561 votes.

Death

After he lost his congressional seat in 1934, he remained in the public eye as a vigorous opponent of the financial system; that is, until his sudden death on October 3, 1936, of a "dose" of intestinal flu" after attending a banquet in New York City.[7]

Reporting his death in its October 14 issue, Pelley’s Weekly stated that it had "became known among his intimates that he had suffered two [previous] attacks against his life. The first attack came in the form of two revolver shots fired at him from ambush as he was alighting from a cab in front of one of the Capital hotels. Fortunately both shots missed him, the bullets burying themselves in the structure of the cab." Next, "He became violently ill after partaking of food at a political banquet at Washington. His life was only saved from what was subsequently announced as a poisoning by the presence of a physician friend at the banquet, who at once procured a stomach pump and subjected the congressman to emergency treatment."[7]

Federal Reserve

In his June 10, 1932, address on the House floor, he declared:

“Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board and through the corrupt practices of the moneyed vultures who control it.

From the Atlantic to the Pacific our country has been ravaged and laid waste by the evil practices of the Federal Reserve Board and the Federal Reserve banks and the interests which control them … This is an era of economic misery, and for the conditions that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable.

The imperial power of elasticity of the public currency is wielded exclusively by the central corporations owned by the banks. This is a life and death power over all local banks and all business. It can be used to create or destroy prosperity, to ward off or cause stringencies and panics. By making money artificially scarce, interest rates throughout the Country can be arbitrarily raised and the bank tax on all business and cost of living increased for the profit of the banks owning these regional central banks, and without the slightest benefit to the people. The 12 Corporations together cover and monopolize and use for private gain every dollar of the public currency and all public revenue of the United States. Not a dollar can be put into circulation among the people by their Government, without the consent of and on terms fixed by these 12 private money trusts.'”
Louis McFadden (1934)  [8]


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References

  1. ↑ https://www.jta.org/archive/senate-may-shelve-tydings-report-house-expected-to-act-on-nazi-protest
  2. ↑ http://bioguide.congress.gov/scripts/biodisplay.pl?index=M000434
  3. ↑ https://news.google.com/newspapers?id=FFcgAAAAIBAJ&pg=5317,196981&dq=louis-mcfadden+%7C+louis-t-mcfadden+new-york+heart&hl=en
  4. ↑ The New York Times, "McFadden Links Bankers", The New York Times, December 1931, p. 1
  5. ↑ Chalmers McGeagh Roberts (1977). The Washington Post: The First 100 Years. Houghton Mifflin. p. 194. ISBN 978-0-395-25854-5. Retrieved 11 Sep 201
  6. ↑ https://web.archive.org/web/20071118092952/http://www.time.com/time/magazine/article/0,9171,744826-1,00.html
  7. ↑ a b https://web.archive.org/web/20090217171933/quoted in http://www.atlanticfreepress.com/news/1/4513-louis-t-mcfadden-1876-1936-an-american-hero.html
  8. ↑ https://famguardian.org/Subjects/MoneyBanking/Articles/mcfadden.htm
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