The above discussion of the Commission on Money and Credit, together with the roster of membership, was first published in The Dan Smoot Report dated July 3, 1961.
On September 22, 1961, Mr. Charles B. Shuman, President of the American Farm Bureau Federation, wrote me a letter, saying:
"I was a member of the Commission on Money and Credit but you will notice that I filed very strong objections to several of the recommendations which you brought to the attention of your readers. I do not agree with the Commission recommendations to authorize the President of the United States to vary the rate of income tax. Neither do I agree that the gold reserve requirement should be abandoned. I agree with several of your criticisms of the Report but I cannot agree that 'the objective of the Commission on Money and Credit (to finish the conversion of America into a total socialist state, under the dictatorship of whatever proletarian happens to be enthroned in the White House) can be seen, between the lines, in the Commission's remarks about the formidable problem of unemployment.'
"At its worst, it was a compromise of the divergent viewpoint of the conservative and liberal members of the Commission."
I will not argue with Mr. Shuman, an honest and honorable man, about the objective of the Commission; but I will reassert the obvious: recommendations of the Commission on Money and Credit, if fully implemented, would finish the conversion of America into a total socialist state.
As pointed out before, the various agencies which interlock with the Council on Foreign Relations do not have formal affiliation with the Council, or generally, with each other; but their effective togetherness is revealed by their unanimity of purpose: They are all working toward the ultimate objective of creating a one-world socialist system and making America a part of it.
This ambitious scheme was first conceived and put into operation, during the administrations of Woodrow Wilson, by Colonel Edward M. House, and by the powerful international bankers whom House influenced.
House founded the Council on Foreign Relations for the purpose of creating (and conditioning the American people to accept) what House called a "positive" foreign policy for America–a policy which would entwine the affairs of America with those of other nations until this nation would be sucked into a world-government arrangement.
Colonel House knew, however, that America could not become a province in a one-world socialist system unless America's economy was first socialized. Consequently, House laid the groundwork for "positive" domestic policies of government too–policies which could gradually place government in control of the nation's economy until, before the public realized what was happening, we would already have a socialist dictatorship.
The following passages are from pages 152-157 of The Intimate Papers of Colonel House: