- js reader version
- view hidden posts
- tags and related articles
by Mark Walter Evans
Friday, Mar. 09, 2007 at 7:18 AM
During the 'teens, twenties and 'thirties of the past century, radical political formations in America called for the nationalization of the Federal Reserve System and of Credit.
Old Left Party Platforms Regarding The Federal Reserve System and Banking and Currency Reform
The Progressive Party Platform
CAMPAIGN OF 1924
6. We favor ... the reconstruction of the Federal Reserve and Federal Farm loan Systems, so as to eliminate control by usurers, speculators and international financiers, and to make the credit of the nation available upon fair terms to all and without discrimination to business men, farmers, and home-builders ...
Progressive Political Action Platform, 1924:
(5) Reconstruction of the Federal Reserve and Federal Farm Loan systems to provide for direct public control of the nation's money and credit on fair terms to all, and national and state legislation to permit and promote Co-operative banking.
Socialist Party Platform, 1932
1. Socialization of our credit and currency system and the establishment of a unified banking system, beginning with the complete government acquisition of the Federal Reserve Banks and the extension of the services of postal savings banks to cover all departments of the banking business and the transference of this department of the post office to a Government-owned banking corporation.
The Farmer-Labor Party Platform, 1932
BANKING, CURRENCY, GOLD STANDARD
AND ECONOMIC BALANCE
The fifth clause of Section 8 of Article I of the United States Constitution provides:
"The Congress shall have power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures."
"To coin money,” means to print money for the use of the Nation, States, counties, townships, cities, towns, villages, school districts, and for the people, at cost of printing and service.
"To regulate the value thereof,” means the Congress gives by an act, authority and debt-paying power to foreign coin (money) coming into the United States, the same as that which it authorizes to be coined or printed.
The United States Supreme Court decided:
"Congress authorized to establish a national currency either in coin or in paper and to make that currency lawful money for all purposes as regards the National government of private individuals."
Organized Banking and Currency System
(a) We demand legislation to abolish the Federal Reserve Banking System (Fiscal Agent of the United States), private ownership of the United States Banking and Currency System, by repealing the present unconstitutional banking laws on that Subject, and then placing them in the hands of the Communities, i.e., the Federal, State, and local governmental bodies, so that the profits, if any, shall accrue to the People's Governments, thereby preventing panics, depressions, and crises, and private control of money.
Postal Savings Banks
(b) As a step to that goal, we demand a law to authorize Postal Savings Banks in each post-office to accept deposits and permit checking accounts without limit in amount, make loans at uniform interest rate of 2 per cent per annum.
Currency and Free Coinage of Silver
(c) We demand laws providing for the issuance of sound money, full legal tender currency, by the Federal government. And we favor the opening of the mints to the free coinage of silver produced in the United States at its present weight and fineness, but only as coordinate money with that sound money currency, and not as redeemable money. All such money to be redeemable in service rendered by the government, and said money and credit based on same to be properly regulated as to volume in circulation.
Refinancing of Mortgages
(e) (2) For the benefit of farmers and other reai estate owners, we favor the immediate enactment of a law based on the principles of the Bill S.F. 1197, now before Congress, the title of which is A bill to liquidate and refinance agricultural indebtedness, and to encourage and promote agriculture, commerce, and industry, by establishing an efficient credit system, through which unjust and unequal burdens placed upon agriculture, during the period of price fixing and deflation may be lightened by providing for the liquidation and refinancing of farm mortgages,
. . . and creating a Board of Agriculture to supervise same.
(f) We demand Federal and State government guarantees to the laborers of an opportunity to work at a living wage, or failing, which they shall be paid unemployment insurance benefits by a Federal and State Unemployment Insurance Plan.
(g) We favor effective legislation to prohibit gambling in securities or commodities.
Redemption of Bonds
(i) Liberty bonds and all other Federal government bond issues to be redeemed by the Federal government legal tender currency within a period of five years in equal annual proportions and further Federal bond issues to be prohibited by law.
National Party Platforms
Volume 1, 1840-1956
Compiled by Donald Bruce Johnson
UNIVERSITY OF ILLINOIS PRESS
Farmer-Labor Party Platform
CAMPAIGN OF 1934
The Farmer-Labor Party of Minnesota recognizes that the United States has the most wonderful resources, great factories, machinery of production, steam power and millions of capable workers and farmers ready and able to produce food, clothing, and shelter in great abundance for us all.
At this time when all of us could live in prosperity and happiness we find that there are millions of working men and women in poverty, want and degradation and that there are also hundreds of thousands of farmers, business and professional people who have become poverty-stricken and bankrupt and millions of people in all walks of life are compelled to eat the bread of charity.
Palliative measures will continue to fail. Only a complete reorganization of our social structure into a Co-operative Commonwealth will bring economic security and prevent a prolonged period of acute suffering among the people.
We, therefore, declare that Capitalism has failed and immediate steps must be taken by the people to abolish Capitalism in a careful and lawful manner, and that a new sane and just society must be established; a system where all the natural resources, machinery of production, transportation and communication shall be owned by the government and operated democratically for the benefit of all and not for the benefit of the few.
In order to bring about this Co-operative Commonwealth and also for the purpose of adopting legislation for the immediate good of the people, the farmer-labor party adopts as its platform the following proposals :
INDUSTRIAL PROGRAM — To protect our citizens from exploitation through industrial profits, we demand public ownership of all mines, water, power, transportation and communication, banks, packing plants, factories and all public utilities. Provided that this shall not apply to bona fide co-operatively owned and operated enterprises.
TAX EXEMPT SECURITIES — We oppose the issuance of tax-exempt securities.
CONSUMERS CO-OPERATIVES — The powers of government to allow consumers to freely organize on a co-operative basis, unrestricted by discriminatory laws.
MONEY AND BANKING — Nationalization of banking with government monopoly of money and credit operated without profit . . . . .
The issue of money is a governmental function and all money should be issued directly by the government and made a legal tender in payment of all debts.
All money permitted by law to be issued against the gold now in the United States treasury should be put into circulation by the payment of all government bonds due, or soon to become due, and for all public works constructed.
We declare our opposition to issuance of interest-bearing bonds by the government . . . . .
Report this post as:
Change Links September 2018 posted
More Scandals Rock Southern California Nuke Plant San Onofre
Site Outage Friday
Change Links August 2018
Setback for Developer of SC Farm Land
More problems at Shutdown San Onofre Nuke
Change Links 2018 July posted
More Pix: "Families Belong Together," Pasadena
"Families Belong Together" March, Pasadena
Short Report on the Families Belong Together Protest in Los Angeles
Summer 2018 National Immigrant Solidarity Network News Alert!
Watch the Debate: Excluded Candidates for Governor of California
Change Links June 2018 posted
The Montrose Peace Vigil at 12 Years
Unity Archive Project
Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi
CA Senate Bill 1303 would require an independent coroner rather than being part of police
Three years after OC snitch scandal, no charges filed against sheriffs deputies
California police agencies violate Brown Act (open meetings)
Insane Company Wants To Send Nuke Plant Waste To New Mexico
Change Links May 2018
Worker-Owned Car Wash on Vermont Closed
GUIDE TO REBEL CITY LOS ANGELES AVAILABLE
lausd whistle blower
Help KCET and UCLA identify 60s-70s Chicano images
UCLA Luskin: Casting Youth Justice in a Different Light
Change Links April 2018
More Local News...
Jeff Bezos, Amazon, The Washington Post, Whole Foods, Etc
Why Choose Nut Milk Over Cows' Milk
Antrhopocène, le grand effondrement
Creative Destruction Hack Diamonds Windows/iOS/Android - Creative Destruction Generator
The Dictatorship of Corporations
18 Lethal Consequences Of Hunting
Paraphysique de l'outplacement déontologue
Creative Destruction Hack Mod Generator
Shopping du bashing
After Lehman Brothers, Experts Say Global Financial Crisis Can Happen Again
“Animaniacs in Concert!” Starring Voice Legend Rob Paulsen
Probabilités de fin d'humanité
Florida Area of Migrant Farmworkers Denied Right to Construct Health Clinic near NaplesCIW
Propagande de virus, virus de propagande
Steer clear of work morality!
Sweatshop Lodge Ceremony Continues in US Fed Prisons Led by Inmates
Paraphysique de l'origami
The Shortwave Report 09/07/18 Listen Globally!
August 2018 Honduras Coup update
Du réussissement putréfié
Brett Kavanaugh Filled The 5th Circuit With Execution Judges
Augusta Georgia Woman Gets 5 Year Prison Sentence for Writing About Russians Crime Acts
Paraphysique de contextualité
Crisis Regulation in Global Capitalism
Ex-voto de réification
Please Oppose Warmonger, Execution and Torture Supporting Bush Operative Brett Kavanaugh
More Breaking News...