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Abraham Lincoln: Difference between revisions
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Lincoln opposed the financial powers in other ways as well. At the beginning of the war, Lincoln tried to borrow money from national and international bankers to finance the Union Army. According to one source, they wanted to charge him 24 to 36 percent interest.<ref>''Appleton Cyclopedia'', 1861, p. 296.</ref> Rather than accept the bankers’ terms, he decided to print paper money—greenbacks—which became legal tender. Had Lincoln borrowed money at those usurious rates, the bankers would have essentially owned the United States government at the close of the war. | Lincoln opposed the financial powers in other ways as well. At the beginning of the war, Lincoln tried to borrow money from national and international bankers to finance the Union Army. According to one source, they wanted to charge him 24 to 36 percent interest.<ref>''Appleton Cyclopedia'', 1861, p. 296.</ref> Rather than accept the bankers’ terms, he decided to print paper money—greenbacks—which became legal tender. Had Lincoln borrowed money at those usurious rates, the bankers would have essentially owned the United States government at the close of the war. | ||
Next, the bankers proposed a national banking system which would allow them to issue bank notes backed by U.S. government bonds. These notes would be just short of legal tender since the law said that they could be used in payment for all debts except duties on imports. The National Bank Act which incorporated their plan would allow expansion of the money supply through a fractional reserve system: banks could lend out more money than they had on deposit.<ref> | Next, the bankers proposed a national banking system which would allow them to issue bank notes backed by U.S. government bonds. These notes would be just short of legal tender since the law said that they could be used in payment for all debts except duties on imports. The National Bank Act which incorporated their plan would allow expansion of the money supply through a fractional reserve system: banks could lend out more money than they had on deposit.<ref>Herman E. Krooss, ed., ''Documentary History of Banking and Currency in the United States'' (Edgemont, Pa.: Chelsea House Publishers, 1969), 2:1392–93.</ref> | ||
After heavy lobbying by bankers led by Jay and Henry Cooke, the act was passed in 1863 and it resulted in a surge of inflation. Furthermore, as economist Murray Rothbard writes, it also “paved the way for the Federal Reserve System by instituting a quasi-central banking type of monetary system.”<ref>Murray N. Rothbard, ''The Mystery of Banking'' (n.p.: Richardson & Snyder, 1983), p. 224.</ref> | After heavy lobbying by bankers led by Jay and Henry Cooke, the act was passed in 1863 and it resulted in a surge of [[inflation]]. Furthermore, as economist Murray Rothbard writes, it also “paved the way for the Federal Reserve System by instituting a quasi-central banking type of monetary system.”<ref>Murray N. Rothbard, ''The Mystery of Banking'' (n.p.: Richardson & Snyder, 1983), p. 224.</ref> | ||
An undocumented source says that during his second term in office Lincoln planned to repeal the National Bank Act or restrict the powers it had granted bankers. Had Lincoln repealed this privilege, banks would have lost a huge money-making opportunity. | An undocumented source says that during his second term in office Lincoln planned to repeal the National Bank Act or restrict the powers it had granted bankers. Had Lincoln repealed this privilege, banks would have lost a huge money-making opportunity. | ||
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While Johnson was able to slow down the industrialists and protect the powers of the presidency, he could not stop them and the lawmakers they controlled from ushering in a new economic order and an age of big business. Following the Civil War, the robber barons—men such as Jay Gould, John D. Rockefeller, Cornelius Vanderbilt and John Jacob Astor—and other financiers and industrialists seized control of the institutions of the country through their unscrupulously gained wealth. | While Johnson was able to slow down the industrialists and protect the powers of the presidency, he could not stop them and the lawmakers they controlled from ushering in a new economic order and an age of big business. Following the Civil War, the robber barons—men such as Jay Gould, John D. Rockefeller, Cornelius Vanderbilt and John Jacob Astor—and other financiers and industrialists seized control of the institutions of the country through their unscrupulously gained wealth. | ||
== The example of Lincoln == | |||
The [[Goddess of Freedom]] has called us to follow in the footsteps of Lincoln: | |||
<blockquote> | |||
Contemplate with me now yourself as an individualization of the flame of freedom. Think of yourself multiplied by the action of this body of the Lord. Then think of Abraham Lincoln as he stood alone in the White House, as he stood alone and withstood all of the rebellion of the fallen ones who sought to separate out of the Union and to defy all the fiery core of the Father-Mother God in the original thirteen—the mandala of initiation of Christ and his apostles. | |||
Think how he had encountered already the international bankers, the Illuminati and those who sought to use the Civil War to take over America for their schemes of power and control. Think how he defied all of those who had their selfish interests. Think of how he stood for the flame of Mother. Think of how that president was willing to lay down his life for the love of the Mother and her children, and then ask yourself: “Can I not do the same? Can I do less? And if I will do the same, will not the same hosts of the L<small>ORD</small> buoy up my soul in the light of victory?”<ref>The Goddess of Freedom, “Releasing the Flame of Freedom Enshrined in the Capitals of the Nations,” Part 2, {{POWref|44|21|, May 27, 2001}}</ref> | |||
</blockquote> | |||
== See also == | == See also == | ||