Representing the New York Federal Reserve district on the first Federal Advisory Council was J. P. Morgan. He was named chairman of the Executive Committee. Thus Paul Warburg and J.P. Morgan sat in conference at the meetings of the Federal Reserve Board during the first four years of its operation, surrounded by the other Governors and members of the council, who could hardly have been unaware that their futures would be guided by these two powerful bankers….J.P. Morgan obligingly gave up his seat on the Federal Advisory Council, and for the next ten years, Paul Warburg continued to represent the Federal Reserve district of New York on the Council. He was vice president of the council 1922-25, and president 1926-27. Thus Warburg remained the dominant presence at Federal Reserve Board meetings throughout the 1920s, when the European central banks were planning the great contraction of credit which precipitated the Crash of 1929 and the Great Depression….
The selection of the regional members of the Federal Advisory Council from the list of bankers who worked most closely with the “big five” banks of New York, and who were their principal correspondent banks, proves that the much-touted “regional safeguarding of the public interest” by Carter Glass and other Washington proponents of the Federal Reserve Act was from its very inception a deliberate deception. The fact that for seventy years this council was able to meet with the Federal Reserve Board of Governors and to “advise” the Governors on decisions of monetary policy which affected the daily lives of every person in the United States, without the public being aware of their existence, demonstrates that the planners of the central bank operation knew exactly how to achieve their objectives through “administrative processes” of which the public would remain ignorant. The claim that the “advice” of the council members is not binding on the Governors or that it carries no weight is to claim that four times a year, twelve of the most influential bankers in the United States take time from their work to travel to Washington to meet with the Federal Reserve Board merely to drink coffee and exchange pleasantries. It is a claim which anyone familiar with the workings of the business community will find impossible to take seriously.
(footnote) The J.P. Morgan connection has remained predominant on the Federal Advisory Council. For the past several years, the prestigious Federal Reserve District No. 2, the New York District, has been represented on the Federal Advisory Council by Lewis Preston. Preston is Chairman of J. P. Morgan Company and also Chairman and Chief Executive Officer of Morgan Guaranty Trust, New York. An heir to the Baldwin fortune (a company controlled by Morgan), Preston married the heiress to the Pulitzer newspaper fortune. On February 26, 1929, The New York Times noted that a merger had been effected between National Bank of Commerce and GuarantyTrust, making them the largest bank in the United States, with a capital of two billion dollars. The merger was negotiated by Myron C. Taylor, president of U.S. Steel, a Morgan firm. The banks occupied adjoining buildings on Wall Street, and as The New York Times noted, “The Guaranty Trust Company long has been known as one of ‘the Morgan group’ of banks.” The National Bank of Commerce has also been identified with Morgan interests. -Mullins http://www.barefootsworld.net/fs_m_ch_04.html
from McClure’s Magazine, August 1911, “The Seven Men” by John Moody:
“Seven men in Wall Street now control a great share of the fundamental industry and resources of the United States. Three of the seven men, J.P. Morgan, James J. Hill, and George F. Baker, head of the First National Bank of New York belong to the so-called Morgan group; four of them, John D. and William Rockefeller, James Stillman, head of the National City Bank, and Jacob H. Schiff of the private banking firm of Kuhn, Loeb Company, to the so-called Standard Oil City Bank group… the central machine of capital extends its control over the United States… The process is not only economically logical; it is now practically automatic.”
Thus we see that the 1910 plot to seize control of the money and credit of the people of the United States was planned by men who already controlled most of the country’s resources….
Banking houses J.P. Morgan Company, Brown Brothers Harriman, Warburg, Kuhn Loeb and J. Henry Schroder–all of them maintain close relationships with the House of Rothschild, principally through the Rothschild control of international money markets through its manipulation of the price of gold. Each day the world price of gold is set in the London office of N.M. Rothschild and Company.
Although these firms are ostensibly American firms, which merely maintain branches in London, the fact is that these banking houses actually take their direction from London. Their history is a fascinating one, and unknown to the American public, originating as it did in the international traffic in gold, slaves, diamonds, and other contraband. There are no moral considerations in any business decision made by these firms. They are interested solely in money and power….
The pre-eminence of J. P. Morgan and the Brown firm in American finance can be dated to the development of Baltimore as the nineteenth century capital of the slave trade. Both of these firms originated in Baltimore, opened branches in London, came under the aegis of the House of Rothschild, and returned to the United States to open branches in New York and to become the dominant power, not only in finance, but also in government….
in 1835 the House of Rothschild had cemented a relationship with the United States Government by superseding the firm of Baring as financial agent of the Department of State on January 1, 1835….the Morgan firm–behind it was the clever maneuvering of Baron Nathan Mayer Rothschild. The association remained secret from the most knowledgeable financial minds in London and New York, although Morgan occasionally appeared as the financial agent in a Rothschild operation. As the Morgan firm grew rapidly during the late nineteenth century, until it dominated the finances of the nation, many observers were puzzled that the Rothschilds seemed so little interested in profiting by investing in the rapidly advancing American economy. John Moody notes in The Masters of Capital, page 27: “The Rothschilds were content to remain a close ally of Morgan…as far as the American field was concerned.” Secrecy was more profitable than valor….
William Guy Carr in Pawns In The Game, 1956, p. 60, states that “In 1899 J.P. Morgan and Drexel went to England to attend the International Bankers Convention. When they returned J.P. Morgan had been appointed head representative of the Rothschild interests in the United States. As the result of the London Conference J.P. Morgan and Company of New York, Drexel and Company of Philadelphia, Grenfell and Company of London, and Morgan Harjes Cie of Paris, M.M. Warburg Company of Germany and America, and the House of Rothschild were all affiliated.”…Mayer Amschel Bauer (who changed his last name to Rothschild) in Frankfurt-on-Main, 1773, to 12 allied wealthy bankers, asserted that 5) “Our right lies in force. The word RIGHT is an abstract thought and proves nothing. I find a new RIGHT… to attack by the Right of the Strong, to reconstruct all existing institutions, and to become the sovereign Lord of all those who left to us the Rights to their powers by laying them down to us in their liberalism. 6) The power of our resources must remain invisible until the very moment when it has gained such strength that no cunning or force can undermine it.”… 8) dealt with the use of alcoholic liquors, drugs, moral corruption, and all vice to systematically corrupt youth of all nations. 9) They had the right to seize property by any means, and without hesitation, if by doing so they secured submission and sovereignty. …11) Wars should be directed so that the nations engaged on both sides should be further in our debt….14) Panics and financial depressions would ultimately result in World Government, a new order of one world government.
Now let us compare what William Carr believed were Mayer Rothschild’s points to points made (below) in the Protocols of the Elders of Zion, ~1904:
8. Whether a State exhausts itself in its own convulsions, whether its internal discord brings it under the power of external foes – in any case it can be accounted irretrievably lost: IT IS IN OUR POWER. The despotism of Capital, which is entirely in our hands, reaches out to it a straw that the State, willy-nilly, must take hold of: if not it goes to the bottom.
12. Our right lies in force. The word “right” is an abstract thought and proved by nothing. The word means no more than: Give me what I want in order that thereby I may have a proof that I am stronger than you.
14. In any State in which there is a bad organization of authority, an impersonality of laws and of the rulers who have lost their personality amid the flood of rights ever multiplying out of liberalism, I find a new right – to attack by the right of the strong, and to scatter to the winds all existing forces of order and regulation, to reconstruct all institutions and to become the sovereign lord of those who have left to us the rights of their power by laying them down voluntarily in their liberalism.
15. Our power in the present tottering condition of all forms of power will be more invincible than any other, because it will remain invisible until the moment when it has gained such strength that no cunning can any longer undermine it.
16. Out of the temporary evil we are now compelled to commit will emerge the good of an unshakable rule, which will restore the regular course of the machinery of the national life, brought to naught by liberalism. The result justifies the means. Let us, however, in our plans, direct our attention not so much to what is good and moral as to what is necessary and useful.
1. It is indispensable for our purpose that wars, so far as possible, should not result in territorial gains: war will thus be brought on to the economic ground, where the nations will not fail to perceive in the assistance we give the strength of our predominance, and this state of things will put both sides at the mercy of our international AGENTUR;
7. We appear on the scene as alleged saviours of the worker from this oppression when we propose to him to enter the ranks of our fighting forces – Socialists, Anarchists, Communists – to whom we always give support in accordance with an alleged brotherly rule (of the solidarity of all humanity) of our SOCIAL MASONRY. The aristocracy, which enjoyed by law the labor of the workers, was interested in seeing that the workers were well fed, healthy, and strong. We are interested in just the opposite – in the diminution, the KILLING OUT OF THE GOYIM (non-Jews). Our power is in the chronic shortness of food and physical weakness of the worker because by all that this implies he is made the slave of our will, and he will not find in his own authorities either strength or energy to set against our will. Hunger creates the right of capital to rule the worker more surely than it was given to the aristocracy by the legal authority of kings. http://www.biblebelievers.org.au/przion2.htm#PROTOCOL%20No.%201
Professor Karl Ritter is reported to have said that the present phase of this (international chess) game started in the counting house of Amschel Mayer Bauer alias Rothschild, located at Frankfort-on-the-Main in Germany, when 13 gold and silversmiths decided they must remove the crowned heads of Europe, destroy all existing governments and eliminate all organized religions before they could secure absolute control of the wealth, natural resources and manpower of the entire world and establish a Satanic despotism. Dialectical and historical materialism was to be used to further these plans. -William Carr, p. 23 of https://archive.org/stream/PawnsInTheGame/Carr.-.Pawns.in.the.Game.international.conspiracy.exposed.1958#page/n21/mode/2up also at p. 45 of https://archive.org/stream/PawnsInTheGame/Carr.-.Pawns.in.the.Game.international.conspiracy.exposed.1958#page/n43/mode/2up