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THE FEDERAL RESERVE MONSTER
by
_JIM JAM JEMS_
Bismarck, N.D.
Price $2.00 in U.S.A.
Carriage Prepaid
Compiled, Edited and Published
by
Sam H. Clark and Wallace Campbell
Of
JIM JAM JEMS
Bismarck, North Dakota
Copyright August 1922
EDITOR'S FOREWORD.
WITH "charity toward all and malice toward none" we indite this
volume of criticism of the Federal Reserve "Bunking" System as it is
"practiced" in America. We are not posing as a modern David, nor do
we underrate the size of the giant we have tackled herein by several
damsights. And by the same token we are not depending on a single stone
to deliver a knockout; on the contrary we are delivering a veritable
volley of rocks at the object of our criticism and we hope that every
chapter written here will raise bruises and welts on the back and belly
of the critter.
We have no intention nor desire to kill. And we don't believe in
reform. When a thing needs reforming it needs an axe. But what we
are striving to do is to awaken public sentiment to the damnable
ramifications of the Federal Reserve Octopus in the hope that the
people will "come alive" and eventually force the Federal Reserve
System to be born anew.
It is the abuse of the Federal Reserve System to which we object. Every
little while some smart Alec mounts the bema and roars about the great
good that the Federal Reserve System has accomplished. It is called the
Savior of Credit and Industry. But it is misbranded. There's a vast
difference between the picture on the tomato can and the contents of
the can.
If you have ever lived in the West or North or in any part of the
country where wild ducks or partridges or prairie chickens nest, you
are familiar with the antics of the mother duck or prairie hen during
the hatching season. You have come suddenly upon the mother of a brood
along the roadside and as she hops along there is every indication that
the bird is wounded and she leads you away from her nest to a point
where she figures the young are safe and then up and away she goes.
These touters for the Federal Reserve System remind us of the mother
duck and the prairie hen. They flap along and distract your attention
from the nest which they are so beautifully feathering; they prate
about "saving" and "benefiting" and flap you along until you lose sight
of the brood of evils that they are really mothering.
Our object in attacking the evils of the Federal Reserve System has
been to awaken sentiment--that is all. For the past two years we have
kept up a continuous bombardment against the iniquities of the Federal
Reserve System through the monthly issues of Jim Jam Jems. The demand
for back numbers and extra copies has been so great that we deemed it
advisable to collect all of these charges under one volume and thus
place the whole Truth about the Federal Reserve System before the
people. What we publish herein is fact, carefully compiled from the
System's own reports and from public records. We commend this volume to
all thinking, upstanding Americans who are ever ready to fight for a
square deal.
ZINC! VINEGAR! VITRIOL!
JIM JAM JEMS
Please don't confound JIM JAM JEMS with other magazines that are aping
it in size and general appearance. It is not a joke book, nor a dream
book, nor a slab of fiction. It is just what it is advertised to be--A
Volley of Truth.
You will find more hard, frozen-in facts and facts that you want to
know about matters of public interest in each issue of JIM JAM JEMS
than you will find in any other publication in America.
You cannot afford to miss a single number. Fill in the coupon below and
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JAM JEMS for a year delivered by mail to your office or home address.
Don't wait! Join our army of regulars with the next number.
* * * * *
JIM JAM JEMS,
Bismarck, N. Dak.
Gentlemen:
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CONTENTS
Chapter Page
I FEDERAL RESERVE "BUNKING." 1
II THE BIRTH OF THE FEDERAL RESERVE SYSTEM 4
III THE FRAMEWORK OF THE MONSTER 9
IV THE STUFFING OF THE LEVIATHAN 16
V CHECK COLLECTION BANDITRY 21
VI THE LOOT OF THE MONSTER 34
VII HOW THE LOOT IS GATHERED 40
VIII THE PARTIALITY OF THE PILLAGE 50
IX THE TRAGEDY OF DRASTIC DEFLATION 56
X THE PALACES OF THE MONSTER 68
XI THE MONSTER'S EXPENSES 75
XII WHAT THE MONSTER DOES WITH ITS LOOT 83
XIII THE CAMOUFLAGE OF THE MONSTER 86
XIV FINAL VOLLEY AT THE MONSTER 95
Federal Reserve "Bunking"
CHAPTER I
THE FEDERAL RESERVE SYSTEM--WHAT IT REALLY IS
THE Federal Reserve System is the visible hand of the Invisible Empire
picking the pockets of the producers of real wealth. It is the most
leviathan parasite engrafted upon--and grafting on--production in the
world's history. It is an industrial vampire sucking industry's life
blood down its bottomless maw. Its greed is fathomless, its rule is
ruthless and its lust for power is insatiate.
It is openly and avowedly run and managed in the interest of a
so-called "superior class." It has a cynical contempt for the
public--whom it ruthlessly plunders. It believes--and practices the
belief--that it was instituted for the promotion and protection of
superior privileges; that wealth is produced for its exploitation;
that production of values exists for its parasitical plunder; that
Shylockery is a virtue and that the fruits of industry belong not to
its producers but to its despoilers.
Property-owners, property-earners and property-producers are but
its puppets whom it plunders at will. By monopolizing and juggling
money--the mere symbol of wealth--it destroys the value of real wealth.
It has but one interest in the public whom it hypocritically professes
to serve and that interest is expressed in the query "How much will the
people stand?"
There is nothing with which to compare it for it stands alone in the
world's history as the most gigantic plunderbund ever conceived in
predacity's womb. Czardom at its height and Kaiserdom at its zenith
never held a tithe of the real power held by the Federal Reserve
System. It is the perfected fruit and flower of financial high-bindery,
industrial plunderbund and applied Shylockery. Under the cloak and
mantle of the law it reaches forth its paws of predacity and pouches
filcheries which are simply stupendous.
That is briefly what the much touted and saccharinely adulated Federal
Reserve System really is. Abraham Lincoln, the greatest human intellect
which ever functioned on this planet, prophetically drew its portrait
in these words: "It (the Civil War) has been indeed a trying hour for
the Republic; but I see in the near future a crisis approaching that
unnerves me and causes me to tremble for the safety of my country.
As a result of the war, corporations have been enthroned and an era
of corruption in high places will follow and the money power of
the country will endeavor to prolong its reign by working upon the
prejudices of the people until all wealth is aggregated in a few hands,
and the Republic is destroyed. I feel at this moment more anxiety for
the safety of my country than ever before even in the midst of the war.
God grant that my suspicions may prove groundless."
That is the true portrait, drawn by a master hand, of the Federal
Reserve System.
In subsequent chapters you will see the birth of the monster, its
ruthless methods of plunder, its machinery of despoilment, its monopoly
of money and credit, its pawnbrokery and Shylockery and its huge mounds
of pillage.
And in looking it over don't overlook the fact that you, you
yourself--whatever may be your part in American industry--are laying
tribute on the Federal Reserve altar of Mammon. You can't escape its
net of pillage. Amid its mounds of gold, currency and securities--the
hugest ever massed together on this planet--your contribution is there.
Your brain or your brawn, or both, have added to its lootage. If you
live and toil in the U.S.A.--in whatever capacity--your "mickle" adds
to the "muckle"--of its stored pillage.