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Transcript of Wright Patman
Born in Texas August 6 1893 Wright Patman
Shortly after Patman became part of congress
The great depression broke out.
Quote I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money of its own money. It is absolutely wrong for Government to issue interest–bearing obligations. It is not only wrong, it is absolutely unnecessary. I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money. I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue.
http://www.quoty.org/quote/1635 Quote The dollar represents a one dollar debt to the Federal
Reserve System. The Federal Reserve Banks create money out of thin
air to buy Government Bonds from the U.S. Treasury...and
has created out of nothing a ... debt
which the American people are obliged to pay with interest. http://quotes.liberty-tree.ca/quotes_by/wright+patman Quote “Now, I believe the system should be changed.
The Constitution of the United States does not give the banks
the power to create money. The Constitution
says that Congress shall have the power
to create money, but now, under our system, we will sell bonds
to commercial banks and obtain credit from those banks. http://www.michaeljournal.org/feddebunked.htm Quote We have what is known as the
Federal Reserve Bank System.
That system is not owned by the Government.
Many people think that it is because it says “Federal Reserve.”
It belongs to private banks, private corporations.
So we have farmed out to the
Federal Reserve Banking System
that which is owned exclusively, wholly, one hundred percent to the private banks—
we have farmed out to them the privilege
of issuing the Government’s money! http://quotes.liberty-tree.ca/quotes_by/wright+patman Patman was elected to the Texas House of Representatives in 1920. He left the House in 1924 when he was appointed district attorney of the fifth judicial district of Texas. http://www.tshaonline.org/handbook/online/articles/fpa62