Congress had no authority to pass on their charge they were given by the people to the [Non-Federal] Reserve.
even in those days 1933 Louis Mcfadden warn about this is there were several attempts on his life and he did die in 1936!
Louis McFadden on the Federal Reserve
Speech by Rep. Louis T. McFadden denouncing the Federal Reserve System
— by Louis McFadden, 1932-06-10 source: Congressional Record, June 1932, pg 12595-12603
http://www.modernhistoryproject.org/mhp/ArticleDisplay.php?Article=McFadden1932
McFadden was born in Granville Center, Troy Township, Bradford County, Pennsylvania. He graduated from Warner’s Commercial College in Elmira, New York. In 1892 he entered the employ of the First National Bank in Canton, Pennsylvania. In 1899 he was elected cashier, and became its president on January 11, 1916, serving until 1925.
He served as treasurer of the Pennsylvania Bankers’ Association in 1906 and 1907, and as president in 1914 and 1915. He was appointed in 1914 by the agricultural societies of the State of Pennsylvania as a trustee of Pennsylvania State College.
[edit] Political career
In 1914, McFadden was elected as a Republican Representative to the Sixty-fourth Congress and to the nine succeeding Congresses. He served as Chairman of the United States House Committee on Banking and Currency during the Sixty-sixth through Seventy-first Congresses, or 1920-31. Though re-elected without opposition in 1932, in 1934 he lost to the Democratic nominee by 561 votes. He was an unsuccessful candidate for nomination in 1936.
McFadden’s main official legacy was the working on and the passing of the McFadden Act of 1927 limiting federal branch banks to the city in which the main branch operates.The Act sought to give national banks competitive equality with state-chartered banks by letting national banks branch to the extent permitted by state law. The McFadden Act specifically prohibited interstate branching by allowing national banks to branch only within the state in which it is situated. Although the Riegel-Neal Interstate Banking and Branching Efficiency Act of 1994 [1] repealed this provision of the McFadden Act, it specified that state law continues to control intrastate branching, or branching within a state’s borders, for both state and national banks.
McFadden was known for openly attacking alleged secret control of the banking system. He claimed that international bankers controlled the American economy. McFadden said that the United States had to choose between “God and the money changers who have unlawfully taken our gold and lawful money into their possession”. This comment has been seen by some as an attack on Jews based on the idea that international banking is controlled by some select Jews. McFadden also blamed Jews for president Roosevelt’s decision to abandon the gold standard, and claimed that “in the United States today, the Gentiles have the slips of paper while the Jews have the lawful money.”[1] Again based on the precept that international banking is controlled by some select Jews. Statements like these have resulted in McFadden being labeled a hater of Jews. McFadden was regarded as hostile by Jews in the American government.[2]
McFadden is also remembered for his criticism of the Federal Reserve, which he claimed was created and operated by European banking interests who conspired to economically control the United States. On June 10, 1932, McFadden made a 25-minute speech before the House of Representatives, in which he accused the Federal Reserve of deliberately causing the Great Depression. McFadden also claimed that Wall Street bankers funded the Bolshevik Revolution through the Federal Reserve banks and the European central banks with which it cooperated. In the same speech McFadden expressed dismay at the fact that over $13 million in gold had been shipped to a rebuilding Germany that year by the Federal Reserve. He also explained how Nelson Aldrich was tutored by European bankers, then later submitted the Aldrich bill, a translation of the statutes of the Reichsbank and other European central banks, which became the Federal Reserve Act after a half-million-dollar public information program. [3]
As part of his attempts to root out corruption in the Federal Reserve McFadden moved to impeach President Herbert Hoover in 1932, and also introduced a resolution bringing conspiracy charges against the Board of Governors of the Federal Reserve. The impeachment resolution was defeated by a vote of 361 to 8; it was seen as a big vote of confidence to President Hoover from the House.[4]
In 1933, he introduced House Resolution No. 158, articles of impeachment for the Secretary of the Treasury, two assistant Secretaries of the Treasury, the Board of Governors of the Federal Reserve, and the officers and directors of its twelve regional banks.
There were two attempts on McFadden’s life, a failed shooting and an apparent poisoning that made him “violently ill” after attending a political banquet in Washington. [5][6] He died in 1936 on a visit to New York City and was interred in East Canton Cemetery in Canton, Pennsylvania.
[Wiki]
It was unconstitutional when one understands
Louis McFadden quotes:
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, hereinafter called the FED. They are not government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers.
Louis McFadden quotes:
The Federal Reserve (Banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers.
Louis McFadden quotes:
What is needed here is a return to the Constitution of the United States. We need to have a complete divorce of Bank and State. The old struggle that was fought out here in Jackson’s day must be fought over again... The Federal Reserve Act should be repealed and the Federal Reserve Banks, having violated their charters, should be liquidated immediately. Faithless Government officers who have violated their oaths of office should be impeached and brought to trial. Unless this is done by us, I predict that the American people, outraged, robbed, pillaged, insulted, and betrayed as they are in their own land, will rise in their wrath and send a President here who will sweep the money changers out of the temple.
Louis McFadden quotes:
The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements.... The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States.... The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it.
Louis McFadden quotes:
Mr. Chairman, I see no reason why citizens of the United States should be terrorized into surrendering their property to the International Bankers who own and control the Federal Reserve.
Louis McFadden quotes:
It was not accidental [the 1929 stock-market “crash”]. It was a carefully contrived occurrence. ... The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.
Louis McFadden quotes:
Open the books … and you will be staggered to see how much American money has been taken from the United States Treasury for the benefit of Russia. Find out what business has been transacted for the State Bank of Soviet Russia, by its correspondent, the Chase Bank of New York.
Louis McFadden quotes:
Some people think the Federal Reserve Banks are US government institutions. They are not... they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will.
Louis McFadden quotes:
(The Great Depression resulting from the Stock Market crash) was not accidental. It was a carefully contrived occurrence....The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.
http://quotes.liberty-tree.ca/quotes_by/louis+mcfadden