Did Bankers Foment the Civil War? In Greed We Trust
Posted By : manager
Posted : October 25, 2020
The Southern states seceded because the Republicans passed a high tariff.
For the North the issue was preserving the empire (saving the Union) YES.
A National Historian has unveil; A deeper underlying cause, an agenda unbeknown to the southern states and perhaps also to Lincoln? The historian puts forward an intriguing thesis that bankers spent a decade fomenting hatred between North and South in order to provoke a war that would greatly increase federal debt, which the banks could acquire and use as reserves to support the issuance of money and credit. Federal debt would become the reserve basis (like gold) for the expansion of the money supply. This power would give bankers control of the government.
The historian’s position: “The divisive antagonisms between the North and the South, finally erupting in the spring of 1861, were not unfortunate historical accidents, nor the result of some inexorable momentum in events. Those antagonisms, rather, were deliberately agitated during the 1850s by great international banking houses with a preconceived motive of provoking secession. And secession was to be used as a pretext for a bloody and expensive war of conquest which was launched and carried out. The war was planned as a brutal slaughter, as it tragically became. The war was planned to generate a stupendous national debt, mostly represented by bonds, and such a national debt was in fact generated. The private interests acquiring these bonds successfully plotted to secure the passage of legislation which enabled them to convert the paper by them acquired in financing the war into a new and dominant system of banking and currency under their ownership and control. And those private interests fully succeeded in their sinister program, and set up a huge financial empire centered on Wall Street from which they have ever since governed the United States from behind the scenes.”
Our historian is factually correct about the huge increase in US national debt caused by the war. In 1860 US national debt stood at a mere $65 million. By war’s end, US national debt was $2.7 billion–41.5 times larger.
His evidence that hatred was intentionally fomented in order to stimulate a war is circumstantial, but strong. He focuses on the questions of who financed John Brown’s raid on Harper’s Ferry, who financed the marketing of Harriet Beecher Stowe’s propagandistic novel, Uncle Tom’s Cabin, and turned it into an international best seller, and who financed the expensive and long drawn out legal case of Dred Scott? These are honest and important questions. Stay Tuned For Part 2