It would be more pleasant to me and more agreeable to you to speak without notes, but I want to address that larger constituency which we reach through the newspapers, for it is a thousand times as numerous as any crowd that could assemble here, and therefore, in order that I may speak to all throughout the land.
So far we have adhered closely to the subject of money and the history of its manipulation by political and monetary scientists. Now we are going to take a short detour along a parallel path and view some of the same historical scenery from a different perspective.
As we progress, it may seem that we have lost our way, and you may wonder what connection any of this can possibly have with the Federal Reserve System. Please be assured, however, it has everything to do with it, and, when we finally return to that topic, the connection will have become painfully clear.
The mechanism by which [this was accomplished in the past was more complex than simply lending money to warring governments and then collecting interest, although that was part of it The real payoff has always been in he form of political favoritism in the market place.
Writing in the yearFrench historian Richard Lewinsohn explains: Although often called bankers, those William jennings bryans speech imperialism financed wars in the pre-capitalist period Unlike modern bankers who operate with money deposited with them by their clients [or, in more recent times, created out of nothing by a central bank - E.
Thus those who risked the financing of a war were for the most part already very rich, and this was the case down to the seventeenth century. When they agreed to finance a war, these rich lenders did not, however, always attach great importance to the rate of interest In this respect they often showed the greatest compliance to their august clients.
But in return they secured for themselves privileges which could be turned into industrial or commercial profit, such as mining concessions, monopolies of sale or importation, etc.
Sometimes even they were given the right to appropriate certain taxes as a guarantee of their loans. So though the loan itself carried a very real risk and often did not bring in much interest, the indirect profits were very considerable, and the lenders' leniency well rewarded.
It was Mayer Amschel Rothschild who is quoted as saying: Mayer became a clerk in the Oppenheimer Bank in Hanover and was eventually promoted to junior partner. After his father's death, he returned to his home in Frankfurt to continue the family business. Over the door hung a red shield with an eagle as a sign to identify the establishment.
The German words for red shield are rothschildso he changed his name from Bauer to Rothschild and added five gold arrows held in the talons of the eagle to represent his five sons.
The Rothschild fortune began when Mayer adopted the practice of fractional-reserve banking.
As we have seen, he was not alone in this, but the House of Rothschild greatly surpassed the competition. That was due to his sharp business acumen and also because of his five most unusual sons, all of whom became financial power centers of their own.
As they matured and learned the magic of converting debt into money, they moved beyond the confines of Frankfurt and established additional operations in the financial centers, not only of Europe, but of much of the civilized world. Throughout the first half of the nineteenth century, the brothers conducted important transactions on behalf of the governments of England, France, Prussia, Austria, Belgium, Spain, Naples, Portugal, Brazil, various German states, and other smaller countries.
They were the personal bankers of many of the crowned heads of Europe. They made large investments, through agents, in markets as distant as the United States, India, Cuba, and Australia.At the Democratic Convention in Kansas City on August 8, , William Jennings Bryan devotes his acceptance speech to his viewpoint on imperialism.
Section III THE NEW ALCHEMY. The ancient alchemists sought in vain to convert lead into gold. Modern alchemists have succeeded in that quest. Search the world's information, including webpages, images, videos and more. Google has many special features to help you find exactly what you're looking for.
William Jennings Bryan was born in Salem, Illinois, on March 19, , to Silas Lillard Bryan and Mariah Elizabeth (Jennings) Bryan. Silas Bryan had been born in , and had established a legal practice in Salem in He married Mariah, a former student of his at McKendree College, in Of Scots-Irish and English ancestry, Silas Bryan was an avid Jacksonian Democrat.
William Jennings Bryan. Imperialism (Flag of an Empire) delivered 8 August , Indianapolis, IN. The American political parties, now called Democrats and Republicans, switched platform planks, ideologies, and members many times in American history.