1. The American Founding Fathers originally intended a monetary system quite different from the one we have now.
2. The first institution which poisoned the monetary well was the development of a privately owned central bank copied after the Bank of England.
3. … the adoption of a procedure for the creation of “money out of nothing” through a system of fractional banking.
4. In 1694 William III was involved in a war with France. He needed money, and he needed it in large quantities.
5. By any standard, William Paterson considered this fantastic achievement pure genius.
6. Several hundred years ago the goldsmiths of Europe were under the necessity of building substantial vaults for their previous metals.
7. … these spurious certificates could be used to buy up all kinds of tangible property or they could be loaned out on interest.
8. … “making money out of nothing” is selling something the money managers don’t really have.
9. … the bankers saw the danger of their position and decided to protect themselves by getting the government in on the deal.
10. Each of these central banks became the most powerful influence in its particular country both economically and politically.
11. … when the managers of a central bank in any particular country are looking around for ways and means to accumulate more wealth, they are often tempted by two things which are inherently evil and totally destructive to the foundation of civilized countries [...] to encourage an involvement in war so the nation will be forced to borrow heavily [...] to promote a cycle of “boom and bust” economies.
12. Karl Marx, have tried to maintain that these boom-and-bust cycles are an inescapable characteristic of a free-market economy.
13. … these so-called boom-and-bust cycles are primarily a phenomenon of manipulated economics, engineered by men who find themselves in an extremely powerful position to control money and credit but seem to lack the moral integrity to resist the opportunity of fleecing the common people who have genuinely trusted them.
14. Wealthy money managers seem to have a strong proclivity toward both warmongering and the manipulation of the economy in cycles of boom and bust.
15. Between 1690 and 1700, Massachusetts decided that money should be issued exclusively by the central authority of the government to represent the interests of the whole people.
16. … there are only two ways to make money stable [...] to relate all currency to precious metals which maintain a reliable degree of stability in their value or buying power [...] to maintain the same relative amount of money and credit in operation and add to the money supply only as fast as the growth of the productivity of the people will justify it.
17. Other colonies began following this same sound procedure, and it soon resulted in a period of unrivaled prosperity for colonial America.
18. The privately owned Bank of England wanted to force the colonies to borrow “bank notes” from them.
19. This was one of the major causes of the Revolutionary War.
20. Even after winning the Revolutionary War, this fatal monetary system almost resulted in the destruction of the United States as a nation.
21. The New England states became so antagonistic toward developments that at one point they threatened to secede.
22. With the adoption of the Constitution, Jefferson hoped the nation would go back to the earlier procedures with government issuing its money based on a precious metal standard.
23. [Jefferson’s] second hope was shattered when…
24. Alexander Hamilton was appointed Secretary of the Treasury and came up with a plan to monetize the nation’s mammoth war debt by issuing bonds and selling them to private banks.
25. … financing the United States government. It was this last factor which appealed to President Washington.
26. … Hamilton persuasively argued a theory of “implied powers” which has seriously damaged the whole concept of “limited” government ever since.
27. Washington was uncomfortable with it [...] he was actually contemplated a veto of the banking act when Hamilton drew him aside and filled his mind with such glowing promises of stability and prosperity under this “temporary” expedience, that Washington finally overrode his professional instinct as one of America’s most successful farmers and signed the bill.
28. Jefferson later accused Hamilton of complicating the whole scheme with such elaborate trappings that it had confused the President.
29. By 1798, even Hamilton admitted that the whole thing had been a serious mistake.
30. … most of the stock in Hamilton’s bank was privately owned by some of his associates in New York.
31. … it provided immediate credit resources for the nation, which was otherwise bankrupt.
32. This practical reality is what appealed to Washington first and foremost.
33. The disadvantages of the bank were vigorously protested by Jefferson, and his dispute with Hamilton became so heated that it finally led to Jefferson’s resignation as Secretary of State.
34. Jefferson considered the whole scheme an unconstitutional threat to the basic fabric of the American civilization.
35. When the Civil War broke out, the new President found the Treasury empty, and therefore payments in gold were necessarily suspended.
36. To President Lincoln’s amazement in this hour of crisis, these banks demanded 28 percent yearly interest for any loans granted to the federal government.
37. Lincoln immediately induced the Congress to let him borrow from the American taxpayers without interest.
38. These notes were not issued as “dollars” but as promissory notes authorized under the borrowing power of the Constitution.
39. Undoubtedly these notes helped Lincoln save the Union.
40. Even Salmon P. Chase, the Secretary of the Treasury, joined the bankers in their demand that the power to issue the nation’s money be returned to them.
41. … when it came to abusing, deceiving, and exploiting the small fry -- the common people -- the same jungle code applied, except that the common people were far more helpless because they didn’t really understand what was happening to them.
42. … the John D. Rockefeller interests of Amalgamated Copper set out to destroy the Friz (Frederick) A. Heinze combination which owned Union Copper Company.
43. J.P. Morgan joined the Rockefeller enclave to announce that he thought the Knickerbocker Trust Company would be the first Heinze bank to go.
44. J.P. Morgan came to the front. He offered to salvage the last Heinze bank (Trust Company of America) if it would turn over to him, for merely a pittance of its true worth, the fabulously valuable Tennessee Coal and Iron Company of Birmingham.
45. … the proposed transaction was approved in Washington.
46. … J.P. Morgan told his partners he was intrigued by the “tokens” of paper or printed IOUs which various business houses were being allowed to circulate as a medium of exchange.
47. No one was more fascinated with the new heroic image of Mr. Morgan than Woodrow Wilson.
48. [Woodrow Wilson’s] philosophy of political science permeated universities all across the nation, and to a large extent still represents the prevalent view today.
49. … Wilson was very critical of the Founders’ Constitutional concepts.
50. … Woodrow Wilson actually had a powerful instinct to further strengthen centralized power in Washington, D.C.
51. Morgan liked what Wilson was saying.
52. … certain Morgan interests began encouraging him to enter the political arena.
53. The commission promptly left for Europe, and after spending $300,000, returned to write twenty massive volumes extolling the advantages of Europe’s central banking system.
54. Paul Warburg came well financed by the Rothschild family, and they bought him a partnership in the Rothschild-dominated firm of Kuhn, Loeb and Company.
55. He emphasized the absolute necessity of setting up a new national banking system which would prevent Wall Street from putting the nation through those devastating “boom and bust” cycles.
56. … an official investigation had revealed some of the ruthless operations of powerful financial interests on Wall Street and definitely fixed responsibility on Wall Street (especially Rockefeller and Morgan) for the crash of 1907 and 1908.
57. Two prominent Morgan officers, Fran Munsey and George Perkins, provided both the money and the strategy to help Roosevelt win Republican votes away from Taft.
58. … the Morgan officials who managed Teddy Roosevelt’s campaign were also found to have put extensive money behind Wilson.
59. … “Colonel” Edward Mandell House (D-Texas), who is now known to have been the major policy maker and manager of the entire Wilson administration.
60. … House describes the piledriver tactics that were used to force a bill through Congress which would authorize setting up the new Federal Reserve System as a privately owned central bank.
61. A strong element of deception surrounded the team involved in the promotion of this legislation.
62. Congressman Charles A. Lindbergh of Minnesota, whose son would later fly the Atlantic, raised a mighty voice of protest against the whole scheme.
63. Had Thomas Jefferson, James Madison, or Andrew Jackson been around, [they] would no doubt have exploded with indignation.

These 63 claims are contained in the first 9 pages of the study, the historical section. The balance of the 135 claims, covering pages 10 to 23, are underlined in green ink and numbered sequentially in the body of the paper itself.