“We know from assertions made here by the Hon. John N. Garner, Vice-President of the U.S. that there is a condition in the [United States such] would cause American citizens, if they knew what it was, to lose all confidence in their government.
“That is a condition that Roosevelt will not have investigated. He has brought with him from Wall Street, James Warburg, the son of Paul M. Warburg. Mr. Warburg, alien born, and the son of an alien who did not become naturalized here until several years after this Warburg’s birth, is a son of a former partner of (Jew) Kuhn, Loeb and Co., a grandson of another partner, a nephew of a former partner, and a nephew of a present partner.
“He holds no office in our Government, but I am told that he is in daily attendance at the Treasury, and that he has private quarters there! In other words, Mr. Chairman, Kuhn, Loeb and Company now has control and occupy the U.S. Treasury.
I think a veteran of the world war, with a $20.00 gold certificate, is at least as much entitled to receive his own gold for it, as any international banker in the city of New York or London.
“By the terms of this executive order, gold may be exported if it is actually required, for the fulfillment of any contract entered into prior to the date of this order by an applicant who, in obedience to the executive order of April 5, 1933, has delivered gold coin, gold bullion, or gold certificates. “This means that gold may be exported to pay the obligations abroad of the Fed which were incurred prior to the date of the order, namely, April 20, 1933.
“If a European Bank should send 100,000,000 dollars in Fed currency to a bank in this country for redemption, that bank could easily ship gold to Europe in exchange for that currency. Such Fed currency would represent “contracts” entered into prior to the date of the order. If the Bank of International Settlements or any other foreign bank holding any of the present gambling debt paper of the Fed should draw a draft for the settlement of such obligation, gold would be shopped to them because the debt contract would have been entered into prior to the date of order.