Fed Study in Economics the Term Paper

Excerpt from Term Paper :

Frankfurter landed on the Harvard law faculty, thanks to a financial contribution to Harvard by Felix Warburg and Paul Warburg..." (Viereck, 1932; as cited by Mullins, 1984)

In the "Federal Reserve Directors: A Study of Corporate and Banking Influence" as cited by The World Newsstand publication is that chart one "...reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J.P. Morgan Co., and Kuhn, Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914. These firms had their principal officers appointed to the Federal Reserve Board of Governors and the Federal Advisory Council in 1914. In 1914 a few families (blood or business related) owning controlling stock in existing banks (such as in New York City) caused those banks to purchase controlling shares in the Federal Reserve regional banks. Examination of the charts and text in the House Banking Committee Staff Report of August, 1976 and the current stockholders list of the 12 regional Federal Reserve Banks show this same family control." (World Newsstand: Wisdom and Freedom, 1999) The chart below labeled 'Figure 1' is based on the illustration provided for this structuring of the Federal Reserve System at creation.

Federal Reserve Structuring at Creation of the System

N.M. Rothschild, London - Bank of England

J. Henry Schroder

Banking Corp.

Brown, Shipley - Morgan Grenfell - Lazard - |


Brothers |

Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard -|







Governor, Bank | J.P. Morgan Co -- Lazard -| of England

N.Y. Morgan



Guaranty Co.


Morgan Stanley Co. |

Schroder Bank


Drexel & Company


Lord Airlie

M.M. Warburg

Chmn J. Henry Schroder

Hamburg - marr. Virginia F. Ryan grand-daughter of Otto

Kahn of Kuhn Loeb Co.

Lehman Brothers N.Y - Kuhn Loeb Co N.Y.

Lehman Brothers - Mont. Alabama Solomon Loeb

Abraham Kuhn

Lehman-Stern, New Orleans

Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg

Mortimer Schiff

James Paul Warburg

Mayer Lehman |

Emmanuel Lehman

Herbert Lehman

Irving Lehman

Arthur Lehman

Phillip Lehman

John Schiff/Edith Brevoort Baker

Present Chairman Lehman Bros

Robert Owen Lehman

Kuhn Loeb - Granddaughter of George F. Baker

Lehman Bros Kuhn Loeb (1980)

Thomas Fortune Ryan

Federal Reserve Bank Of New York |

____National City Bank N.Y.

National Bank of Commerce N.Y -|

Hanover National Bank N.Y.

Chase National Bank N.Y.

Shareholders - National City Bank - N.Y.

James Stillman

Elsie m. William Rockefeller

Isabel m. Percy Rockefeller

William Rockefeller

Shareholders - National Bank of Commerce N.Y.

J.P. Morgan

M.T. Pyne

Equitable Life - J.P. Morgan

Percy Pyne

Mutual Life - J.P. Morgan

J.W. Sterling

H.P. Davison - J.P. Morgan

NY Trust/NY Edison

Mary W. Harriman

Shearman & Sterling

A.D. Jiullard - North British Merc. Insurance Jacob Schiff

Thomas F. Ryan

Paul Warburg

Levi P. Morton - Guaranty Trust - J.P. Morgan

Shareholders - First National Bank of N.Y.

J.P. Morgan

George F. Baker

George F. Baker Jr.

Edith Brevoort Baker

US Congress - 1946-64

Shareholders - Hanover National Bank N.Y.

James Stillman

William Rockefeller

Shareholders - Chase National Bank N.Y.

George F. Baker

SOURCE: THE WORLD NEWSSTAND ONLINE AVAILABLE at http://www.augustreview.com/index.php?module=pagesetter&func=viewpub&tid=4&pid=8


In the work entitled: "None Dare Call It Conspiracy" stated is: "One must remember that it was to break up the Standard Oil (Rockefeller) and U.S. Steel (Carnegie) monopolies that the various anti-trust acts were ostensibly passed. These monopolists could now compound their wealth tax-free while competitors had to face a graduated income tax which made it difficult to amass capital. The Reece Committee which investigated foundations for Congress in 1953 proved with an overwhelming amount of evidence that the various Rockefeller and Carnegie foundations have been promoting socialism since their inception. (See Rene Wormser's Foundations: Their Power and Influence, Devin Adair, New York, 1958.) The conspirators now had created the mechanisms to run up the debt, to collect the debt, and (for themselves) to avoid the taxes required to pay the yearly interest on the debt. Then all that was needed was a reason to escalate the debt. Nothing runs up a national debt like a war. And World War I was being brewed in Europe." (Allen, 1971)

In Chart 4 of the 1976 Federal Reserve Directors: A Study of Corporate and Banking Influence is stated to be shown:,," the interlocks between the Federal Reserve Bank of New York J. Henry Schroder Banking Corp., J. Henry Schroder Trust Co., Rockefeller Center, Inc., Equitable Life Assurance Society (J.P. Morgan), and the Federal Reserve Bank of Boston." (World Newsstand, 1999) The chart below labeled Figure 2 is based on the stated chart of the Federal Reserve Directors in their study of 'Corporate and Banking Influence'.


Alan Pifer, President

Carnegie Corporation of New York

Carnegie Corporation

Trustee Interlocks

Rockefeller Center, Inc.

J. Henry Schroder Trust Company

The Cabot Corporation

Paul Revere Investors, Inc.

Federal Reserve Bank of Boston

Qualpeco, Inc.

Owens Corning Fiberglas

New England Telephone Co.

Fisher Scientific Company

Mellon National Corporation

Equitable Life Assurance Society

Twentieth Century Fox Corporation

J. Henry Schroder Banking Corporation



It is clear that Carnegie and Rockefeller money was invested in the motivating and directing forces of the establishment of the Federal Reserve System. The discovery made in the research of this subject leads to the discovery of some very sinister political ties which existed between these two named wielders of financial power on the corporate, governmental and institutional level in the United States as well as on a global basis. This power moves throughout the entire scheme of history and continues to move in today's world events. The New Standard Encyclopedia states of the Federal Reserve System that: "After World War I, the Federal Reserve System followed various policies designed to increase the supply of bank credit. It was believed that the economic growth of the country required such measures, but some authorities now think that these policies contributed to the 1928 stock market boom and collapse." (New Standard Encyclopedia, Vol. 3 Chicago Press, 1984) Certainly the Carnegie and Rockefeller Foundations are both still active in today's world through the many funding programs of each which leads one to further considerations in study in pursuit of obtaining knowledge of the powers that have shaped the historical development of the United States government and policies.


French, Douglas E. (1994) Separating Money and the State, Part I: Eighty Years of Destruction" October 1994. Online available at http://www.fff.org/freedom/1094e.asp.

Mullins, Eustace (1982) Historical Beginnings...The Federal Reserve "The London Connection." The Federal Reserve Bank of Boston, 1982. Online available at http://www.apfn.org/apfn/reserve.htm.

Nathaniel Wright Stephenson (1930) Nelson W. Aldrich, A Leader in American Politics, Scribners, N.Y. 1930.

Charles A. Lindbergh, Sr. (1913) Banking, Currency and the Money Trust, 1913, p. 131

George Sylvester Viereck, The Strangest Friendship in History, Woodrow Wilson and Col. House, Liveright, New York, 1932

Federal Reserve Directors: A Study of Corporate and Banking Influence (1976) Staff Report, Committee on Banking, Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976.

The Rockefeller Shadow Government (1999) Wisdom And Freedom produced by World Newsstand 1999 Online available at http://www.augustreview.com/index.php?module=pagesetter&func=viewpub&tid=4&pid=8.

Allen, Gary (1971) None Dare Call It Conspiracy. Concord Press online available at http://reactor-core.org/none-dare.html.

Banking: The Federal Reserve System…

Online Sources Used in Document:

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