"A distinguished Statesman examines America's Federal Reserve fiasco and offers a Solution."

Audit and abolition of the U.S. privately-owned Federal Reserve banking monopoly.

"The banks--commercial banks and the Federal Reserve--create all the money of this nation, and the nation and its people pay interest on every dollar of that newly created money.

"This means that private banks exercise un-Constitutionally, immorally and ridiculously the power to tax the people. For every newly created dollar dilutes to some extent the value of every other dollar already in circulation."

Populist Action Committee 1991 reprint; First Edition 1943.

TABLE OF CONTENTS

Front Cover................................  1
Title Page.................................  2
Title Page 2...............................  3
Printer's Imprint......................  4
Dedication.................................  5
Acknowledgments............................  7
Publisher's Preface To 1991 Reprint..................  9
Foreword................................... 11
CONTENTS................................... 13
Introduction: Sooner Than You Think Tomorrow Comes ...................... 15
PART ONE: The Great Debate........................................... 27
    1. America acquires a National Debt....................... 29
    2.The National Debt from Hamilton to Lincoln......................... 45
    3. The National Debt from Lincoln to Franklin D. Roosevelt........... 58
PART TWO: Something New in American Experience........................... 73
    4. New Wine In Old Bottles........................................... 75
    5. Total War and an 'Economy of Things and Men'...................... 89
PART THREE: 'The Art and Mystery of Banks' and the Constitution..........107
    6. 'Congress Shall Coin Money And Regulate The Value Thereof'........109
    7. Twenty-Two Billion Dollars!.......................................123
    8. The Tragic Record Of 'Sound Money'................................128
PART FOUR: Constructive Financial Proposals for Warfare..................141
    9. Dollar for Dollar.................................................143
    10. The Federal Reserve Banks and the Credit of the United States....165
    11. 'To Provide for the Common Defense'..............................196
    12. 'To Promote the General Welfare'.................................213
Conclusion: The Economics of a Free World................................231
APPENDICES.................................245
    Appendix I.............................247
    Appendix II............................251
    Appendix III.............................252
CHARTS.....................................113
    Sources of America's Money Today...................113
    Sources of America's Money under Scientific System............219