PROTOCOLS ELDERS OF ZION
And Understand the New Deal
WHAT PRICE FEDERAL RESERVE?
Open Arraignment of the System Addressed to Secretary Morrill
Declares Hordes of Jews Have Swarmed Into Government Posts in Positions of Control
As Told by N. W. Rogers
Tompkins Corners, New York, January 14th, 1938.
Mr. Chester Morrill, Secretary Board of Governors, Federal Reserve System, Washington, D.C.
My lear Sir:-
verting to Mr. L. P. Bethea's letter of October 4th, in reply to mine addressed to yourself, of September 16th, 1937, you say, in your of July 13th:-
"As regards the profits of the Federal Reserve System, it should be pointed out that the Federal Reserve banks are not operated for profit, but for the performance of certain quasi-governmental or public functions. They are operated subject to the regulation of the Board of Governors of the Federal Reserve System and differ in essential respects from privately managed corporations operated for profit."
Such evidence as is available tends to establish that every amendment to the original Act, of December 23rd, 1913, has provided a further scope for accumulating money. In your report for the year 1918 it is stated that the net earnings were at the rate of 72.6%, while the Act of March 3rd, 1918, added some \$26,728,440. to your surplus. By 1920, after deducting dividends, it apears that the Reserve banks earned 164.7%; the New York bank 217%; and since November, 1914, to 1934, profits on Government securities amounting to some \$264,325,869, have accumulated; in the latter year alone \$46,130,041
In March, 1935, some \$647,000,000 was, by Executive order, withdrawn from circulation by calling in the bonds backing National Bank notes in exchange for Federal Reserve notes. But the Federal Reserve banks, in turn, surrendered the bonds for gold notes. It would seem that in the transaction there was something suggestive of swindling, reminiscent of the cult of the Golden Calf. Further, the Federal Deposit Insurance Act, as amended in 1935, extracted some 290 million dollars more from the taxpayers. There are other amendments, all of which evidence that the
Federal Reserve System has never secrined any opportunity to add to its immense accumulations. This being so, I incline to believe that your allegation is misleading, not in accord with the evidence.
In the record of your performance of certain quasi-governmental, or public functions, there appears the account of a secret meeting of Federal Reserve officials, May 18th, 1920, as published in the "Mammfacturers Record" February 22 1923, which was reprinted in the "Congressional"
Record" on February 23rd, 1925, and again on February 28th following, pages 4632 and 4858, in accord with the requests of Senator Eugene F. Ladd and Senator Frank R. Godding, which, having read I wish, as a matter of record, to quote Senator Ladd's remarks which appear on Page 4370, of the "Congressional Record", February 25rd, 1925, which so ably substantiate what I have endeavored to convey in my former letters. He said:-
I am fully justified in stating that the peak of official perfidy and financial iniquity was reached when the Federal Reserve System war imposed upon the American people by the world's investment bankers. For defeating the very purpose its sponsors publicly claimed for it, it can not be matched. It was an unpardonable national crime. The few redeeming traits that it possesses are rendered nugatory by what its originator, Paul M. Warburg, styled in an administrative way. Through the notoriously dishonest manipulations of this infamous system the purchasing power of the farmers of the country has been deflated \$18,000,000,000 in a single year. When we stop to consider that there are \$6,500,000 farms in the United States employing 13,000,000 men, we at once realize that the farmer is the largest employer of labor in the country. He produces all our food and clothing and pays nearly 60 per cent of the freight charges, in the capacity ofproducer and consumer. Every farm is a producing and consuming plant. Just think of the produced and consumer of supplies that are consumed in the aggregate by the farmers of the United States: Threshing machinery, reapers, rakes, binders, tractors, wire fencing, tiles, in short, farming machinery and implements of all kinds, building material for homes, barns, and outhouses, fruit trees, fertilizers, plants and soores of things these will suggest.
"Now, it is plain as a geometrical axiom, that just in proportion as you reduce the purchasingpower of the farmer in the same proportion you diminish the prosperity of the Natior In the face of these indisputable facts is it not a burning shame, tantamount to a national scandal that the time of Congress should be wasted and frittered away considering such an iniquitous measure (ship subsidies--Ed.) as the one under consideration while the working farmer is pushed into irredeemable bankruptcy by the force of unjust laws and dishonest and inefficient administration of others.
"Can you imagine anything more cruel and merciless than the foreclosure of a farm mortgage that robs industrious, thrifty, peaceable country-loving, law-abiding American citizens of years of weary toil, to turn over to men who never performed a day's labor, produced a dollar's worth of wealth, rendered any useful
service to society, who have done nothing, in fact, to aid the advancement of a true civilization or to furnish the slightest pretext for their own existence. To compare them to parasites that fatten on other organisms would be doing injustice to the parasite, as the latter do not intimidate, discriminate, or deceive their prey; they are vampires that with ruthless indifference extract the very lifeblood of their helpless victims.
to work to produce the things essential for the gratification of their own desires and those of others. The conclusion is irresistible, and from this conclusion there is no escape, that peace and prosperity can not be reestablished until we do justice to the farmer who works the farm and prevent financial bandist from farming the farmer who works the farm. Never before in the history of this Nation was there such an urgent demand for honesty, intelligence, and courage on the part of the people's representatives as there is at this very moment. Their responsibility to the people in this great emergency is grave and settles."
Recalling that this malevolent financial cormorant was insidiously grafted upon the laws of the Nation by a Hamburg Jew, Paul Moritz Warburg who was aided in the formulation of the atrocity by another Jew, Samuel Untermyer and that, since its oreation, the Federal Reserve System has conclusively shown itself to be a terrible menace to our very existence, an enemy to Christian civilization, it would seem that there must have been termites at work in Congress, else, in view of the evidence, it would not have been permitted to continue its plundering of the Nation.
in the Federal Emergency Relief Administration; Jews in the Science Advisory Board; Jews in the Federal Alcohol Control Administration; Jews in the Prison Industries Reorganization Administration; Jews in the Federal Communications Commission; Jews in the Government Printing Office; Jews in the General Accounting Office; etc. etc.
It is not far from the truth to say that as Jews have increasingly insinuated themselves into our affairs, particularly since the Wilson Administration, so has the national welfare disintegrated, gone from bad to orse, till our State now approximates that which the Jews had entailed upon Germany before the Advent of Hitler. Jewish authority assures us that it was Zionist influence brought to bear upon President Wilson by Louis Dembitz Brandeis, which betrayed the Nation into the World War. Richard H. Edmond's editorial, in the "Manufacturers Record," of February 22nd, 1923, revealed the secret plotting of Federal Reserve officials and the conspiracy to deflate national prosperity. While the whole picture of Jewish depravity and rapacious plundering of the non-jew throughout the entire globe as it exists today was envisaged, prophesied not only in the "Protocols of the Learned Elders of Zion," published in 1905, but also by an international Jew in 1919, as narrated by Comte de Saint-Aulaire, French Ambassador to Great Britain, 1920-1924, as follows:
"Mny are the New York bankers, along with the German General Staff, the responsible authors of the Russian revolution? Are they o fortiori the authors of all revolutions, since for them, in the conflict between the interests of their own country as,as it seems their individual interests on the one side, and the revolution on the other side, it is the revolution which wins? The solidarity of faith which obtains between the New York bankers and the bolshevist leaders and the
feelings inspired amongst the Jews by their sufferings in Czarist Russia are not a sufficient explanation of this paradox. The paradox is not
a mystery
"In both crises the inspiration came from the same source. In 1919 President Wilson, the master of the Supreme Council, the godfather and the father, at any rate by adoption, of the League of Nations, forced upon the Supreme Council that scandalous partiality in favor of bolshevism. In 1920 even if Wilson had quitted the scene the same hidden powers of which he was the instrument still protected the Soviets. The situation explains how the masked allies of Belakuhn had remained at Budapest after his defeat and how it was possible to meet them at the
"Those who are astonished at our alliance with the Soviets forget that the nation of Israel is the most nationalist of all peoples, for it is the most ancient, the most united, and the most exclusive. They forget that its nationalism is the most heroic because it has sustained the most terrible persecutions. They forget that it is also the purest nationalism, since it is the most spiritual; it has existed through the centuries in spite of all obstacles without any territory to give it strength. Like the papacy, it is ecumenical and spiritual. But its eyes are turned toward the future rather than the past and its kingdom is of this world.
That is why it is the salt of the earth, yet it is, as they say on the boulevards, 'le plus dessale' of nationalisms, which means that the world decants it and despoils it."
As a few of the guests received the last statement with an irrepressible smile, the sage of Zion replied with this comment:
"When I say "despoils," I mean that the wine of our nationalism is the most drinkable in the world; it has the finest bouquet, and
Then the 'king-prophet' drank another glass of Tokay. A skeptic raised this objection: "Don't you risk being the martyrs of this Messiah whose prophets and apostles you are? For though your nationalism may be despoiled, it also sometimes despoils other nations. If you despise riches you do not disdain them altogether, as a means not of enjoyment but power. How is it possible for the triumph of the Universal Revolution, the destroyer and denier of capitalism, to prepare the triumph of Israel which is the sacred ark of this same ceritalism.
view of the accumulation of wealth for the purpose of accomplishing our mission, we wanted another 'sick man.' That need would by itself have been a sufficient reason, beyond all higher considerations, for inoculating pre-war Russia with bolshevism. Russia is not the sick man of post war times, much more nutritive to us than the Ottoman Empire and much less able to defend itself. Russia is our new feast. It will soon be a corpse and our only trouble will be to carve it up.
"At the other end of the table sat a co-religionist. He was the 'enfant terrible' of the syragog c and had waited for the psychological moment to get in his word. He cried: 'They take as for birds of prey, we are rather carrier
"Well yes, if you insist, replied the apologist for the new faith, but please add that we are carrion birds for the good of humanity, for its moral health, just as in countries where sanitation and hygiene are in a rudimentary condition there are other carrion birds for the physical health of the public. Add also that our essential dynamism makes use of forces of destruction and forces of creation, but uses the first to nourish the second. What indeed were countries like pre-war Turkey, pre-war Russia and even pre-war Hungary with its feudal regime and its latifundia? They were paralysed limbs which spoilt all movements of the world. They were rather clots of blood in the circulation of Europe which might bring about its death by obliterating its vital blood vessels. By dissolving them we restore them to the current of blood circulating thru the whole body. If, in the course of the operation, a few drops of this liquefied blood are scattered, why should we disturb ourselves? It is a paltry price for an immense benefit. One of our countrymen has said that we, as a people, are an organized majority. Another has said that we are revolutionarics because we are conservers of ourselves. In the management of the New World we give proof of our organization both for revolution and conservatism. Our organization for revolution is evidenced by destructive bolshevism and for construction by the creation of the League of Nations, which is also our work. Bolshevism is the acceler-
anisms of which we supply both he motive force and the guiding power. What is the end? It is already determined by our mission. Israel is a synthetic and homogeneous nation. It is formed of elements scattered throughout the whole world, but cast in the flame of our faith in ourselves. We are a League of Nations which contains the elements of all others. It is this fact which qualifies us to unite the nations around us. We are accused of being the agent which dissolves them. It is only at points which are impervious to that synthes; of natural elements, of which ours is both the example and the means, that we act as a dissolvent. We do not break the surface except to awaken in the depths below the affinities which do not yet recognize each other. We are not the greatest common divisor of the nations except to become their greatest common federator. Israel is the microcosm and the germ of the
That our Chief Executive is wholly in accord with the Talmudic design of world conquest, so vividly pictured in the foregoing quotation, there can be little doubt, inasmuch as about the same time the N. Y. Times, August 13th, 1920, reported him as stating, in a Milwaukee speech, that the opponents of the League of Nations were "a handful of crooks." Furthermore, as President of the United European Investors, Ltd., which dealt in fluctuating foreign monies, and his activities in connection with the Camec holding corporation, he evinced a trend which has uniquely characterized the Jewish race; accumulating as distinguished from producing.
The insincerity and the radical conflict between profession and performance; the more abundant life, driving the money-changers from the Temple, etc. etc.; the vitriolic attacks upon corporate wealth, are all manifestly fraudulent attempts to soothe the people into a hypnotic apathy while that imperial and supreme holding Corporation, the Federal Reserve, insidiously saps our Nation to feed the Golden Calf. The malignant, lethal Federal Reserve with its regiment of Jews to protect it, may well be the inciting caure of each a wave of anti-falmudism as to entail the expulsion of the entire parasitic swarm, as has been the case in Germany.
Very truly yours, N. W. Rogers.
WECKRUF und BEOBACHTER
78 EAST 85th STREET, ROOM 5, NEW YORK, N. Y.
Tel.: BUtterfield 8-8797
Vol. 3, No. 32.
Thursday, February 3, 1938
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Canto 15