BY LADY QUEENBOROUGH (EDITH STARR MILLER)
FOR PRIVATE CIRCULATION ONLY - September 4,1933
THE INTERNATIONAL BANK
The Internationalization of finance reached its apotheosis
when, on April 23 1930 the International Bank at Basle, commissioned to
enrol the central banks of nine nations in its membership, was founded.
As for the delegates from the different countries
attending the meeting their names signify little for, owing to the
speed and unanimity with which official appointments were made, it is
evident that they were all instructed, or, in other words pledged, to
obey orders. By whom were the orders given ? History may answer that
question some day!
Mr. Gates McGarrah was elected chairman of the board of
directors with Mr. Leon Frazer his deputy and Sir Charles Addis and Dr.
Melchior were elected vice-chairmen.
The significance of this international institution
was commented upon in an article entitled " Mammon being enthroned" by
" Arthurian" in the Referee
dated Sunday, April 13, 1930, in the following terms which, while
constituting a warning to the English people, is actually an appeal to
the people of the world.
" One is amazed at
the equanimity with which Sir Charles Addis describes the difficulty of
enabling the Bank for International Settlements to avoid interference
with the Sovereign Rights of the people of each of so many countries !
Surely the possibility alone ought to be adequate condemnation of the
bank. The opening for chicanery, brute force, bribery, corruption and
war, in the supposed solution of this problem, is unprecedented in the
history of the world ...
" The Bank is to
exist for fifty years, if it can ; it is to pay no taxes during all
that time ; and its assets and deposits are to be immune from seizure,
confiscation, and censorship, in peace or war ; it is also to be
subject to no restriction or prohibition of any kind on its imports and
exports of gold or currency. So little do Government decisions
regarding the Bank really count that, before the scheme has been
sanctioned, the first part of the subscription has already been
subscribed . The Bankers and business men to be associated are to
ensure that there will be no uncertainty about the business that the
Bank will promote, the ' money troubles which lie at the root' of the
industrial depression and financial uncertainty are, of course, going
to be cured by them — so they say. The Governor of the Bank of England
(Mr Montagu Norman) is going to be a director of this foreign Bank.
What an honour ! This Board, with the daily lives of hundreds of
millions of people at its mercy, is going to meet at least ten times a
year — four times at Basle... 'The Bank owes allegiance to no single
Government. ' It need keep no currency reserve...
"This Bank that owes no
allegiance to anyone can do as it likes,.... Mammon is enthroned upon
the world, to make what profits it can, with unrestricted powers, for
fifty years ! In addition to its extraordinary powers, it has control
of the ' Machinery of Reparations ' which contains the means by which
the wherewithal to liquidate Reparations can be squeezed out of the
receivers at a profit to the payers ....
Economic control involves political
control as well as every other control of any people. Truly, the
megalomania of finance never went further, truly, there has never been
anything like it in the world before...
" People of England !
Remember how the stranglehold of the Bank of England on all the other
banks, on all the other financial houses, upon every business and upon
every home and family has grown from the comparatively negligible sum
of £1,200,000 of similar credit free of interest and the
'usufruct' thereof. This new usufruct will be the impoverishment,
debasement, extinction, and disintegration of all that the masses of
this country care for, and the certain decline and fall and
redistribution, into foreign hands, of the British Empire...
" In this country we
have asked for the creation of interest-free credit to be lent to the
people to be used for the production of wealth by and for the people,
but by a great conspiracy of silence the idea is being suppressed. The
hidden prize is not intended for us. Only those who have been swindled
on a race-course by three-card trick men can realize what is now being
done to all the peoples of the Allied countries by a debased money and
credit-upon-credit trick, the like of which has never been attempted in
the world before...
" The alleged £
80,000,000 per annum that Germany is supposed to pay to the United
States for fifty-nine years is a delusion and a snare. But the aim of
the section of Wall Street repudiated by President Hoover, which
initially promoted the idea of the Plan (The Young Plan), is that,
through Germany, this section of Wall Street shall dominate the world. "