JUNE 10, 1816 -- DELEGATES CONVENE CONSTITUTIONAL CONVENTION IN INDIANA

1816 -- DELEGATES CONVENE CONSTITUTIONAL CONVENTION IN INDIANA
Private banking corporations were banned altogether by the Indiana Convention in 1816 and the Illinois Constitution in 1818. Voters in Wisconsin, plus four other states, rewrote existing consititutions requiring popular votes on every bank charter recommended by their legislatures as a result of corrupt banking practices associated with issuing bank notes. Only private banks that didn’t issue money (bank notes) operated in these states.

JUNE 10,1932 – QUOTE OF LOUIS MCFADDEN (R- PA), CHAIRMAN OF THE US HOUSE BANKING AND CURRENCY COMMITTEE

1932 – QUOTE OF LOUIS MCFADDEN (R- PA), CHAIRMAN OF THE US HOUSE BANKING AND CURRENCY COMMITTEE

"We have in this country one of the most corrupt institutions the world has ever known.  I refer to the Federal Reserve Board and the Federal Reserve Banks.  Some people think the Federal Reserve Banks are U.S. government institutions.  They are private credit monopolies; domestic swindlers, rich and predatory money lenders which prey upon the people the United States for the benefit of themselves and their foreign customers.  The Federal Reserve banks are the agents of the foreign central banks.  The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board."