The Commission wants unemployment to drop to the point where the number of jobless workers will equal the number of vacant jobs! And the clear implication is that the federal government must adopt whatever policies necessary to create this condition.
Such a condition can exist only in a slave system–like the socialist system of communist China where, for example, all "farmers" (men, women, and children) enjoy full employment; under the whips of overseers, on the collective farms of communism.
The Commission on Money and Credit was created on November 21, 1957, by the Committee for Economic Development (CED). In the 1957 Annual Report of the CED, Mr. Donald K. David, CED Chairman, gave the history of the Commission on Money and Credit. Mr. David said:
"CED began nine years ago [1948] to call attention to the need for a comprehensive reassessment of our entire system of money and credit.
"When the last such survey of the economic scene was made by the Aldrich Commission in 1911, we had no central banking system, no guaranteed deposits or guaranteed mortgages. There were no personal or corporate income taxes; no group insurance plans, pension funds, or Social Security system....
"Although CED had envisaged a commission created by government, the inability of government to obtain the consensus required for launching the study became as apparent as the need for avoiding further delay. So, after receiving encouragement from other research institutions, leaders in Congress, the Administration, and from various leaders in private life, CED's Trustees decided to sponsor the effort, assisted by a grant from The Ford Foundation...."
Here is the membership of the CED's Commission on Money and Credit:
Frazar B. Wilde, Chairman (President of Connecticut General Life Insurance Company)
Hans Christian Sonne, Vice-Chairman (New York; official in numerous foundations and related organizations, such as Twentieth Century Fund; American-Scandanavian Foundation; National Planning Association; and so on)
Adolf A. Berle, Jr. (New York; Berle has been in and out of important posts in government for many years; he is an anti-communist socialist; he resigned from the Commission on Money and Credit to accept his present job handling Latin American affairs in the State Department)
James B. Black (Chairman of the Board of Pacific Gas and Electric Company)
Marriner S. Eccles (Chairman of the Board of the First Security Corporation; formerly Assistant to the Secretary of the Treasury under Roosevelt; Governor of Federal Reserve Board; and official in numerous international banking organizations, such as the Export-Import Bank)
Lamar Fleming, Jr. (Chairman of the Board of Anderson, Clayton & Co., Houston, Texas)
Henry H. Fowler (Washington, D.C.; resigned from the Commission on February 3 to accept appointment from Kennedy as Under Secretary of the Treasury)
Gaylord A. Freeman, Jr. (President of the First National Bank, Chicago)
Philip M. Klutznick (Park Forest, Ill., resigned from the Commission on February 8, to accept appointment from President Kennedy as United States Representative to the United Nations Economic and Social Council)
Fred Lazarus, Jr. (Chairman of the Board of Federated Department Stores, Inc.)
Isador Lubin (Professor of Public Affairs at Rutgers University)
J. Irwin Miller (Chairman of the Board of Cummins Engine Company)
Robert R. Nathan (Washington, D.C.; has been in and out of many important government jobs since the first Roosevelt Administration)
Emil Rieve (President emeritus of the Textile Workers Union–AFL-CIO)
David Rockefeller (President of Chase Manhattan Bank)
Stanley H. Ruttenberg (Research Director for AFL-CIO)
Charles Sawyer (Cincinnati lawyer, prominent in Democratic Party politics in Ohio)
Earl B. Schwulst (President of the Bowery Savings Bank in New York)
Charles B. Shuman (President of the American Farm Bureau Federation)
Jesse W. Tapp (Chairman of the Board, Bank of America)
John Cameron Thomson (former Chairman of the Board of Northwest Bancorporation, Minneapolis)
Willard L. Thorp (Director of the Merrill Center for Economics at Amherst College)
Theodore O. Yntema (Vice President in Charge of Finance, Ford Motor Company)
William F. Schnitzler (Secretary-Treasurer of AFL-CIO; resigned from the Commission in 1960)
Joseph M., Dodge (Chairman of the Board of Detroit Bank and Trust Co.; resigned from the Commission in 1960)
Beardsley Ruml (well-known and influential new deal economist who held numerous posts with foundations and related organizations; is sometimes called the father of the federal withholding tax law, enacted during World War II; Dr. Ruml died before the Commission on Money and Credit completed its report)
Fred T. Greene (President of the Home Loan Bank of Indianapolis; died before the Commission completed its report)
The director of research for the Commission Was Dr. Bertrand Fox, professor at the Harvard Graduate School of Business Administration. His assistant was Dr. Eli Shapiro, Professor of Finance at the Massachusetts Institute of Technology.
Of the 27 persons who served as members of the Commission on Money and Credit, 13 (Wilde, Sonne, Berle, Fleming, Fowler, Lubin, Nathan, Rockefeller, Tapp, Thorp, Yntema, Dodge, Ruml) were members of the Council on Foreign Relations.
In other words, the Commission on Money and Credit was just another tax-exempt propaganda agency of America's invisible government, the Council on Foreign Relations.