People Who Opposed the Central Banking Scheme


The Signers of the Constitution

The Revolution was fought for Independence from England's Central Banking System, as well as for Freedom from English Taxation. Many of the Signers lost everything, and some, their lives, in this English War of Conquest.  


Those who fought and died in the War of 1812

Another English War of Conquest-
The Bank of England financed this renewed attempt to get control of our Commerce, Trade, and Money Systems. BEN FRANKLIN - THE TWO BANKING SYSTEMS From the autobiography of Ben Franklin, as reported by Gertrude Coogan in "Money Creators": ...the inability of the colonists to get the power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War.
Ben Franklin answering a question about the booming economy of the young colonies: "That is simple. In the colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportions to the demands of trade and industry." (Colonial Scrip had no debt or interest attached.


See Essay on Colonial Scrip.


Alexander Hamilton-(1755-1804)

Founded the first central bank in the United States.
International bankers saw that interest-free scrip would keep America free of their influence, so by 1781 banker-backed Alexander Hamilton succeeded in starting the Bank of America. After a few years of "bank money", the prosperity of "Colonial Scrip" was gone. Benjamin Franklin said, "Conditions were so reversed that the era of prosperity had ended and a depression set in to such an extent that the streets of the Colonies were filled with the unemployed!" Bank money was like our FED money. It had debt and interest attached.
By 1790 Hamilton and his bankers had created a privately owned central bank and converted the public debt (interest-free) into interest bearing bonds, payable to the bankers. When Hamilton's bank charter expired in 1811, the international bankers started the war of 1812. By 1816, another privately-owned U.S. bank was started with $35 million in assets - only $7 million of that was owned by the government. This bank lasted for 20 years. U.S. history shows that currency with debt and interest attached created a depression.
{Alexander Hamilton was killed in a duel, in 1804 by Aaron Burr, a British Sympathizer.}


Napoleon Bonaparte-(1769-1821) Emperor of France(1804-1815)

Had a free hand in Europe as long as he borrowed from the Bank of Rothschilds. When he quit borrowing he was attacked by the English. Napoleon, a sympathizer for the international bankers, turned against them in the last years of his rule. He said: "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."


Andrew Jackson, 7th U.S. President, 1829-1824

When the 1816 charter expired in 1836, Andrew Jackson vetoed its renewal. See Jackson's Veto Message to Congress It was then that he made two famous statements: "The Bank is trying to kill me - but I will kill it!" Later he said "If the American people only understood the rank injustice of our money and banking system - there would be a revolution before morning..."


Abraham Lincoln-(1809-1865) the 16th President of the U.S.-Assassinated while in Office.

In his First Inaugural Address, Lincoln made a point to discuss the role of Capital and Labor. Significant national issues were, at that time, in the first official speech, immediately after a Presidential Election.
Lincoln spoke on finances and government: "In his First Annual Message to Congress, December 3, 1861, Abraham Lincoln stated: "Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed, if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. Capital has its rights, which are as worthy of protection as any other rights."
President Lincoln needed money to finance the Civil War, and the international bankers offered him loans at 24-36% interest. Lincoln balked at their demands because he didn't want to plunge the nation into such a huge debt. Lincoln approached Congress about passing a law to authorize the printing of U.S. Treasury Notes. Lincoln said "We gave the people of this Republic the greatest blessing they ever had - their own paper money to pay their debts..." Lincoln printed over 400 million "Greenbacks" (debt and interest-free) and paid the soldiers, U.S. government employees, and bought war supplies. The international bankers didn't like it and wanted Lincoln to borrow the money from them, so that the American people would owe tremendous interest on the loan. Lincoln's solution made this seem ridiculous. Shortly after Lincoln's death, the government revoked the Greenback law which ended Lincoln's debt-free, interest-free money. A new national banking act was enacted and all currency became interest-bearing, debt instruments, again.


James A. Garfield-(1831-1881) 20th President of the United States.

Assassinated in Office.
President James A. Garfield said: "Whoever controls the money in any country is absolute master of industry [legislation] and commerce".

Louis T. McFadden,-Chairman of the House Banking Committee-(1928-1935)

After two attempts on his life in 1933-1934, McFadden died "mysteriously" in 1935.


See His Comments in the Essay on Colonial Scrip.

John F. Kennedy -(1917-1963)-35th President of the United States-

Assassinated in Office.
On June 4, 1963, President Kennedy issued Executive Order 11110.


This Executive Order called for the issuance of new currency -
the United States Note. At the time, $4,292,893 of this currency was put into circulation. This new currency was to be distributed through the U.S. Treasury and not the Federal Reserve System. Furthermore, it was to be issued debt and interest-free.
Upon Kennedy's assassination, this currency was withdrawn from circulation, never to be issued again.
See Kennedy Solution


Return to The Subject Index of the Monetary System Page.


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