13. DEATH OF THE FIRST BANK/THE WAR OF 1812
In 1811, a bill was put before Congress to renew the charter of the Bank of the United States. The debate grew very heated and the legislature of both Pennsylvania and Virginia passed resolutions asking Congress to kill the Bank.
The press corps of the day attacked the Bank openly, calling it "a great swindle", a "vulture", a "viper", and a "cobra". Oh, to have an independent press once again in America.
A Congressman named P.B. Porter attacked the bank from the floor of Congress, prophetially warned that if the bank's charter were renewed, Congress,
"will have planted in the bosom of this Constiution a viper, which one day or another will sting the liberties of this country to the heart."
Prospects didn't look good for the Bank. Some writers have claimed that Nathan Rothschild warned that the United States would find itself involved in a most disastrous war if the Bank's charter were not renewed.
But it wasn't enough. When the smoke had cleared, the renewal bill was defeated by a single vote in the House and was deadlocked in the Senate. By now, America's fourth President, James Madison, was in the White House. Remember, Madison was a staunch opponent of the Bank. His Vice President, George Clinton, broke a tie in the Senate and sent the Bank, the second privately-owned central bank based in America, into oblivion. Thus, the third American Bank War, lasting twenty years, ended in defeat for the Money Changers.
Wlthin 5 months, as Rothschild was said to have predicated, England attacked the U.S. and the War of 1812 was on. But the British were still busy fighting Napoleon, and so the war of 1812 vended in a draw in 1814.
It is interesting to note that during this war, the Treasury printed some government paper money, not bearing interest, to fund the war effort. This was not repeated until the Civil War.
Though the Money Changers were temporarily down, they were far from out. It would take them only another two years to bring a fourth private central bank back - bigger and stronger than before.
Acknowledgement and credits
The Money Masters: How International Bankers Gained Control of America
Produced by Patrick S. J. Carmack
Directed by Bill Still
Royalty Production Company 1998