Early in my service here I observed that there was some power outside the Government itself which was insideously, but none the less effectively dictating the course of legislation in reference to finance, currency and the creation and control of credit throughout the country; that it was in a position to dictate and did dictate to an extent almost unlimited, to whom credit should be extended and from whom it should be withheld, and that it largely controlled the political action and influence of most of the banking and other corporations of the country. I saw that such a power of control existed here in congress. (See index, Lincoln, Jefferson and Ruskin. They prophesied it would be.)

I introduced a resolution setting forth the facts, naming this insidious and well nigh invincible power, the Money Trust, source of all the trusts and calling for an investigation of its activities. The "big business" press, ridiculed the resolution and especially the idea that the Money Trust had an existence. (The facts about this appears elsewhere in this volume. See Index "Money Trust.) In this case the Committee reported out my resolution under a different name, and in order to prevent me from serving on the committee to be appointed, the resolution was referred to the Banking and Currency Committee which was composed almost entirely of bankers and lawyers for some of the banks. By keeping me off the committee I could not cross examine the witnesses.

The committee, nevertheless, had to report that there was a Money Trust and that its activities were as I had stated, and that its existence and the power it yielded were a menace to the institutions of the country, but took no action to deprive it of its power.

Woodrow Wilson, however, took notice of the proceedings and of the existence of the Money Trust.

This was before he became president. He promised to exercise his influence if elected, to curb its power and influence. But I have no hesitation in saying that this promise has not been kept, but on the contrary the principal result of financial legislation during this administration has been to legalize and more firmly intrench the Money Trust in its control of business, credit and politics of this vaste country than ever before, and in order to conceal that fact the Money Trust has bought the services of many prominent financial writers for the purpose of running articles in the press praising the Federal Reserve system which in less than six years the people will rise in rebellion against because of its intolerable and unjust burden.

Profiting from my observation of the Money Trust inquiry by a committee nearly all the members of which were interested in limiting its activities as much as possible. I introduced a resolution declaring it should be the policy of the House Membership that no banker or any one who was financially interested in a bank should be a member of the banking and currency committee.

I also introduced a resolution calling on Members to declare the extent of their affiliations with banks, if they had any.

Neither of these resolutions came out of the Committee on Rules to which they were referred, so we must take it for granted that a majority of the Rules Committee believe that it is right for bankers to frame legislation for Congress to pass for the bankers personal benefit, as all financial legislation shows has been done. Personally I do not believe that a banker should be on that Committee, any more than that if some one sued a judge that he, the sued judge, should sit as the presiding judge to decide his own lawsuit.

I also introduced a resolution for the appointment of a committee on industrial relations. So far as I know this was the first suggestion for the appointment of such a committee. This resolution was permitted to sleep in the Committee on Rules, but it nevertheless suggested the subsequent passing of a law for the appointment by the President of a commission which made an exhaustive investigation and report, finding that exactly the conditions outlined by me in the preamble of my resolution and a speech upon it actually existed.1 Its report is long to be considered a classic in its delineation of the deplorable conditions which surround the industrial masses of our time.

Some one in the management for special privilege blundered, for once at least, a few persons were appointed on a commission who had not been educated to believe as special privilege demands, and required as a condition precedent to "fitness"(?), for all such appointments. There was Frank P. Walsh, the chairman, whom the special interest press tried to ridicule after they saw his honest and fearless work.

This man, Frank P. Walsh, with the majority of the Commission of which he was chairman, has done a service to the world and no doubt have brought nearer the day when the people in their right will rise to claim their own. Special privilege, however, was lucky in the bursting upon the world of the European war, which was so exciting, that for the time being the people forgot about the Report of the Commission on Industrial Relations. If they will get and read that

1 The speech and resolution is in pamphlet print-considerable length-and shows the very condition that the Committee on Industrial Relations reported about three years later. To anyone sending 2-cent stamp to cover cost the same will be sent. Address C. A. Lindbergh, Little Falls, Minn.

report they will understand why it is that we have

wars.

In January, 1915, I introduced a resolution calling attention to the manner in which the Federal Reserve Law had legalized the Money Trust and placed it in absolute control of the finances of this country; how it could and would under the law make use of Government credit to finance a world wide monopoly, and use the deposits mane by the people in the banks to loan to foreign countries at war, extend credit to foreign trade at the expense of our own people, control prices by the manipulation to its control of credit and extend its influence to control the politics of this country. All this it has done since I introduced that resolution. It was as plain as “A, B, C" that they would do it, but still the rules committee would not act on the resolution. In my speech of July 5, 1916, I stated:

Foreign Speculation Means War for America

Last year at the time of proposing the foreign loans by the speculators, I showed that speculation and loans made to carry on speculation with warring nations would likely mix us into the war. The trust supported press refused to publish my statement, though in the first instance I made the statement at the request of its reporters. In December, 1915, I published it myself. From it I quote the following lines:

Speculation and loans in foreign fields, especially with the nations at war, is likely to bring us into the war. They form a powerful incentive on the part of the speculators to get us into the war, but even if it results that way, they will never be stated as the cause. You can depend upon it that the trust supported press will be used to trump up some other thing as the pretended cause, or things will be staged to force some country to commit acts of war upon us.

What I stated then has happened, but I do not say so now merely for the purpose of proving that I knew more about it than others, for no careful observer could fail to draw the same conclusion, but most of those who did so failed to state it, because they knew that they would be attacked by the press referred to, as I was attacked. The same press that eulogized the American speculators for making the loans on the credit of the people and for stocking the foreign markets with our products in order to make American consumers pay more above the normal prices than the sales to foreign buyers will ever amount to printed on July 9, 1916, the following:

European Finances

In retiring from the editorship of the London Economist, Francis W. Hirst, a prominent English financial authority and pacifist, writes:

"In my view the financial balance of western Europe is in imminent peril, and in a few months it will no longer be possible to disguise the bankrupt condition of several great nations. Civilization, as we have known it, and representative institutions are doomed unless, through the exertions of individuals, the rights, without which all Englishmen, at any rate, will hardly care to live, are speedily restored. To this end freedom and independence must somehow be won back for Parliament and the press.

While it apparently was the purpose of this writer to present arguments in support of his advocacy of a peace movement his suggestion of the impending bankruptcy of several great nations of Europe is likely to create a keen interest in our own financial world, and a desire for an opportunity to study his views more in detail. It might be surmised that Mr. Hirst is not at all confident that the financial fate which he sees in store can be averted and certainly no one will expect that the allies at this juncture will pause in their war operations for any consideration of money. They have poured out too much blood and treasure for them to stop short of victory or annihilation so long as their resources in any form hold out. A great and decisive victory would do more to secure the economic future of these nations than anything else that is open to them. Beyond a doubt they