TAKING THE GOLDEN EGGS
Part I
© 2004 by Linda Minor
The goose that lays golden eggs has been considered a most valuable possession. But even more profitable is the privilege of taking the golden eggs laid by somebody else's goose. The investment bankers and their associates now enjoy that privilege. They control the people through the people's own money.
If the bankers' power were commensurate only with their wealth, they
would have relatively little influence on American business.
Other People's Money
Louis
Brandeis in 1912 created a verbal vision for Woodrow Wilson’s “New
Freedom” by proposing an ethical code of competitiveness to prevent
further monopolistic power. Both Wilson and Brandeis had good
intentions. Unfortunately, good intentions are not enough when power is
at stake. Wilson had been set up, as he came to realize before his
death. The very men who put him in the Presidency were the men who
wanted to control “the people’s own money.”
Before
we explore, at a future date, the role that Woodrow Wilson played in the
creation of the Federal Reserve system, we must understand how its
predecessor — the J.P. Morgan banking network — functioned “as America’s
central bank, and how it stepped into the historic breach between Andrew
Jackson’s 1832 veto of the second Bank of the United States and passage
of the Federal Reserve Act in 1913.” [2]
It
was a clique centered around the Morgan bankers which would later use Wilson as a pawn. Who they were, and how they got their hands on that money
(metaphorically compared by Brandeis to “golden eggs”), is the subject of
this article.
Morgan’s role as central banker has since been superseded by the Federal Reserve System, designed before 1913 by German Jewish bankers who followed a European model. Although the names of the political
minions have changed, once we understand how events were shaped (dare
we say “manipulated”) by the Morganites, then we can begin to recognize how much
control centralized banking interests have over every aspect of our
lives today.
The Role of Skull and Bones in
the Growth of the Morgan Bank
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| Peabody statue, London's Threadneedle St. |
Before 1838, when George Peabody
set up a brokerage office in London, there was no real need for a stock
exchange in America, since there was no capital surplus large enough to
finance the construction of new infrastructure; almost all major
capital was raised from foreign investment.
Opium changed that. Profits from illicit trade in China were such that
American entrepreneurs were able to bring huge profits back and reinvest
them as equity in such industries as New England textile factories and
railroads. Nevertheless, the profits were not sufficient initially to
finance all the demands for funding of public infrastructure projects
desired by state and municipal governments. Peabody marketed such
bonds and other securities in London to raise necessary funds for roads,
canals and the like.
By 1868, Peabody had died, leaving his partner Junius S. Morgan
in charge of the London banking house. Son of Joseph Morgan of
Hartford, Connecticut, Junius Morgan in 1836 married Juliet Pierpont—daughter of John (1785-1866)
and Mary Sheldon Lord Pierpont—who came from a long line of
Congregationalist ministers. Juliet's paternal great-great-grandfather, the Rev.
James Pierpont (Harvard 1681), was a founder of Yale College, and his
wife was the granddaughter of Thomas Hooker, a Puritan, who founded the
colony of Connecticut, which had adopted the first written
constitution. [3] On her maternal side, the Lord family would subsequently become intricately involved in Yale's Skull and Bones society as well as intermarried with families which owned Brown Brothers investment bank which merged with the Harriman banks in 1931.[3a]
Rev. Pierpont’s daughter Sarah, who in 1728 had married the Rev. Jonathan Edwards,
would later become the grandmother of both accused traitor Aaron Burr
and of Northern Secessionist Timothy Dwight—president of Yale from 1795
until 1817. [4]
But
Burr would not be the only member of the Pierpont family who lost faith
in the policies of America's elected representatives by the early years
of the 19th century. Juliet’s own father, John Pierpont (Yale 1804), who
practiced law in Newburyport (Essex County), Massachusetts, protested
against the War of 1812 and the embargo before moving to Boston to study
for the ministry. The Pierponts, in addition to being an aristocratic
family with branches that controlled numerous pools of wealth, had long
been connected to a faction which opposed the way majority rule operated
in the American Republic.
Junius and Juliet Morgan’s eldest son, John Pierpont Morgan,
was educated in Vevey, Switzerland and at the University of Göttingen,
Germany, before working with his father in London. After serving as the
Peabody and Junius Morgan bank’s New York agent for several years, he
formed J.P. Morgan and Company in 1895, five years after his father had
died. Connections to Yale’s elite came from his maternal grandmother, Mary Sheldon Lord, a
descendant of both the Lord and Lynde families, which are strongly
represented among the Skull and Bones secret society.
The
Pierponts were related not only to the Edwards and Burr families, but
to the opium trading Russell family. Sarah Pierpont’s sister Mary, who
married William Russell, was mother to Samuel, who founded Russell and
Company in 1824, and to Rev. Nodiah Russell, a founder of Yale and the
grandfather of William Huntington Russell. The
ties to Yale made it possible for Morgan to become banker of choice for
the Skull and Bones members who had gained positions as directors and
trustees of institutions that had pools of money to invest, according to
the original vision in 1832.
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| Cartoon about Tammany Hall thievery, 1871 |
By the 1870’s, however, a second generation had assumed control, and they were not satisfied with simply investing existing
capital. They wanted much more than that. Their vision was of turning
the New York Stock Exchange into a goose whose golden eggs would be theirs
for the stealing. This second generation was composed of men who had
been led to believe they were special, privileged and not answerable to
the masses. There is a reason, as we shall see below, why they would
become known as the “robber barons,” and their age as “gilded.”
Henry Stimson’s Bones Network
In
1856 a special act of the Connecticut legislature gave the Russell
Trust Association the status of a corporation. A New Haven attorney
named Henry Dyer White (Yale, Skull and Bones, 1851), was named as its treasurer. [5]
The earliest progenitor of this American branch of the White family, Elder John White, had arrived in Hartford, Conn. in 1636 with the Hooker company.
In
1653 he was granted various tracts in Middletown, evincing an intention
to remove thither. Rev. Thomas Hooker dying in 1647, the divergence of
views on church matters reached such a pass that John White, Elder
Goodwin, and others in 1659 founded the town of Hadley, in Mass., where
he held many offices. He returned to Hartford in 1670 and united with
the South Church and became an elder, hence his title, and it exempted
him from holding town office or performing civil services. But as an
arbitrator; referee, and counsellor in ecclesiastical matters, he
performed good services to the churches.
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| Click to enlarge. |
Henry Dyer White, b. Sept. 24, 1830; d. May 18, 1905.
From the New Haven Register:
Henry D. White, the oldest member of the law firm of White Brothers, New Haven, died yesterday at the home of his daughter, Miss Elizabeth T. White. He had been in ill health for three years, but attended to his law practice up to this week, when his condition became critical. He was seventy-five years of age, the son of the late Henry White, also a lawyer. The system of keeping title abstracts to real estate established by the latter has been continued by the sons and these records are generally accepted by banks in real estate transfers.
Mr. White was graduated from Yale in 1851 and afterward studied law. He was a trustee of the New Haven Savings Bank for fifty years and was its counsel and also a director of the New Haven County National Bank.
The following resolutions were passed May 19, 1905, by the New Haven County Bar Association:
The bar of New Haven county desire to place on record in this minute a brief tribute to the memory of their friend and associate, the late Henry D. White, an honored member of the legal profession, and for more than fifty years a practitioner at this bar.
As a mark of respect for his memory, the president of the bar association is requested to present this minute to the Superior Court for New Haven County, and ask that it be spread upon its records, and to cause a copy of the same suitably engrossed, to be transmitted to the family of the deceased.
LOUIS H. BRISTOL, JOHN W. ALLING,
HENRY STODDARD, Committee.
Henry Dyer White's mother, Martha Sherman, was a daughter of Roger Sherman (1768-1856) of New Haven and granddaughter of a signer of the Declaration of Independence
by that same name (1721-1793). The Whites, who had married in 1830, lived in New Haven, where they displayed a painting of her grandfather, Roger Sherman "the Signer," who had been Yale's treasurer the decade prior to the start of the revolution. Roger the Signer had numerous children, but the remainder of his estate after certain specified bequests of property was devised to six daughters, including:
Mary White Stimson's mother was one of five daughters of Roger Sherman, junior, and each sister
was married to a man extremely influential in Connecticut society. It was undoubtedly the Sherman influence which gave the Whites their standing among Yale's elite class. The year Henry Dyer White incorporated the Russell Trust Association, 1856, was the same year his wife's grandfather, Roger Sherman, died, after a long life of business in New Haven, leaving six sons and five daughters.
The couple first met
while young Stimson was a Yale student at a whist party given by the
Whites’ next-door neighbor, William Dwight Whitney, Professor of Sanskrit and member of the Massachusetts Whitney family closely tied to the Order. [6]
William D. Whitney married Elizabeth Wooster, daughter of Roger Sherman
and Emily (Perkins) Baldwin, of New Haven; her father, a lawyer of the
highest rank, had been governor of Connecticut and senator in congress,
and inherited his name from Roger Sherman, the well-known signer of the
Declaration of Independence, and one of the committee charged with
drawing it up, whose grandson he was. They have had six children, three
sons and three daughters; of these are living one son born 16 Aug 1857,
Edward Baldwin, a lawyer in New York City (firm Burnett & Whitney,
67 Wall Street), and the three daughters.
Another sister, Mehitabel Sherman, married Jeremiah Evarts and was the mother of famous attorney, William M. Evarts. These families were all closely connected during Yale's days in the early 19th Century. Mabel’s grandfather, Henry White, was a New Haven lawyer who had five
sons initiated into the Order, several of whom became attorneys and
worked at various times in his [7] firm. The Whites lived at 87 Trumbull, which today is part of Yale’s campus. [8] Skull and Bones was the social circle into which Stimson’s marriage brought him.
NOTES:
[1] From Harper's Weekly, November 29, 1913.
[2] Ron Chernow, The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance (New York: Atlantic Monthly Press, 1990), p. 77.
[3] “Governor
Winthrop, … was an aristocrat to the core. He believed in the
government of the many by the few, and it was he that influenced the Bay
colony to create freemen out of the citizens but slowly, and to limit
the suffrage to members of the Church. To this Hooker could not agree. A
sharp controversy ensued between him and the governor of Massachusetts.
To Winthrop he wrote that, ‘In matters which concern the common good, a
general council chosen by all, to transact business which concern all, I
conceive most suitable to rule and most safe for relief of the whole.’ ”
History of the U.S.A. website
[3a] James Couper Lord,
who died in 1869, married Margaret Hunter Brown, daughter of James Brown, then the
head of the well-known firm of New York bankers, Brown Bros. & Co. See
Lyman Horace Weeks.
Prominent
families of New York; being an account in biographical form of
individuals and families distinguished as representatives of the social,
professional and civic life of New York city. (page 64 of 110)
[4] In 1793 Dwight wrote
to a friend: "A war with Great Britain we, at least in New England,
will not enter into. Sooner would ninety-nine out of a hundred separate
from the Union, than plunge into such an abyss of misery."
[5] The resolution appears in Fleshing out Skull & Bones: Investigations into America’s Most Powerful Secret Society, edited by Kris Millegan, a book available for purchase through TrineDay Books. It was signed by William H. Russell, John S. Beach, Henry B. Harrison, Daniel C. Gilman, Henry T. Blake and Henry D. White,
constituting the Russell Trust Association as a “body corporate and
politic” for the purpose of the “intellectual and moral improvement of
its members, and for that only” to have perpetual succession in law with
the right to purchase, receive, hold and convey title to real estate up
to a value of $15,000. This resolution appears to have been approved by
a special law passed by the Connecticut legislature (most likely that
set out in Volume IV, Page 1201; Volume VI, Page 850; and Volume 24,
Page 432 of the special acts of the General Assembly of the State of
Connecticut). Amendments were dated July 5, 1870 to change the charter
so that the value of property was increased to $350,000; on March 24,
1887 to ratify new by-laws; on July 9, 1943 to increase the value of
real estate to $700,000; and on November 12, 1943 to change the name to
RTA Incorporated, formed under Connecticut’s Nonstock Corporation Act as
an educational organization. A report filed with the State of
Connecticut in 1962 indicates that George H. Walker, Jr. (George H.W. Bush’s “Uncle Herbie”) was treasurer of the group, with his address listed as Dingletown Road in Greenwich, CT. A subsequent filing dated February 1997 shows one of the directors of the group to be Jonathan Bush
with a residence address of 2 Sutton Place South, Apt. 18D in New York
City with a business address of 55 Whitney Avenue in New Haven, CT. See
Antony C. Sutton, America’s Secret Establishment: An Introduction to the Order of Skull and Bones (published privately, 1986, at p. 253), available through Trine Day publishers.
[6] Godfrey Hodgson, THE COLONEL: The Life and Wars of Henry Stimson, 1867-1950 (New York: Alfred A. Knopf, 1990), p. 38. The 1870 U.S. census for New Haven, CT reveals that Professor William Dwight Whitney lived next door to Mabel’s grandparents.
According to the online 1911 Encyclopedia: “His interest in the study
of Sanskrit was first awakened in 1848, and he at once devoted himself
with enthusiasm to this at that time little-explored field of
philological labor. After a brief course at Yale with Professor Edward Elbridge Salisbury
(1814-1901), then the only trained Orientalist in the United States,
Whitney went to Germany (1850) and studied for three years at Berlin,
under Weber, Bopp and Lepsius, and at Tubingen (two summer semesters)
under Roth, returning to the United States in 1853. In the following
year he was appointed professor of Sanskrit in Yale, and in 1869 also of
comparative philology. He also gave instruction in French and German in
the college until 1867, and in the Sheffield scientific school until
1886. An urgent call to a professorship at Harvard was declined in 1869.
The importance of his contributions to science was early and widely
recognized. He was elected to membership in numerous learned societies
in all parts of the world, and received many honorary degrees, the most
notable testimonial to his fame being his election on the 3ist of May
1881, as foreign knight of the Prussian order pour le merite
for science and arts to fill the vacancy caused by the death of
Carlyle. In 1870 he received from the Berlin Academy of Sciences the
first Bopp prize for the most important contribution to Sanskrit
philology during the preceding three years. This edition of the
Taittiriya-Pratisakhya (Journal of the American Oriental Society, vol. ix.). He died at New Haven, Connecticut, on the 7th of June 1894.” See The encyclopædia britannica: a dictionary of arts, sciences ..., Volume 28 edited by Hugh Chisholm; Classic Encyclopedia (1911).
[7]The whist-playing professor’s brother, Edward Payson Whitney, was a medical student in the same Skull and Bones class with Mabel White Stimson’s father; another brother, Josiah Dwight Whitney,
was an eminent geologist who surveyed western American regions for
valuable mineral deposits before he became a Harvard professor.
Half-brother James Lyman Whitney was in the 1856 Skull and Bones class with Chauncey Depew,
attorney for Vanderbilt’s New York Central Railroad. Depew was a member
of the newly created Republican Party in 1858 and became the first
minister to Japan, appointed by President Johnson in 1866; however, he
resigned before departure to work for Commodore Vanderbilt—building the
New York Central Railroad. He was a member of the Yale Corporation from
1893 to 1906.
[8] The Family Forest Descendants of Thomas Mitchell genealogy:
Martha [Sherman] married Henry WHITE son of Dyer WHITE and Hannah
WETMORE on 7 Jan 1830 in New Haven, , Connecticut, USA. Henry was born
on 5 Mar 1803 in New Haven, Connecticut, USA. He died on 7 Oct 1880 in
New Haven, Connecticut, USA. They had the following children: Henry
Dyer WHITE was born on 24 Sep 1830 in New Haven, Connecticut, USA.;
Charles Atwood WHITE was born on 11 Nov 1833 in New Haven, Connecticut,
USA. He died on 18 Jun 1909 in New Haven, Connecticut, USA. Charles
married Frances Spencer EATON on 15 Oct 1861 in New York, , New York,
USA. Frances was born on 18 Jul 1836 in Ft. Gratiot, , Michigan, USA.
She died on 14 Aug 1911 in New Haven, Connecticut, USA; Willard Wetmore
WHITE was born on 7 Feb 1836 in New Haven, Connecticut, USA.; Roger
Sherman WHITE; Thomas Howell WHITE; Oliver Sherman WHITE; George Edward
WHITE.
Most
of these names are all reflected on the census records for 1860 and
1870 as living in the White household. The 1860 census for New Haven
shows Henry White and his wife Martha, living with sons Roger S., Thomas
H., Oliver S. and George E., with Henry D. White, a lawyer, age 29,
living in the previous residence with Mrs. Eunice White, age 76. The
1870 New Haven census shows lawyer Henry White, married to Martha, with a
son Roger S. White, age 32, a lawyer, living in the same house; the
1900 census for New Haven shows Charles White working as a lawyer and
living at 87 Trumbull. Mabel Wellington White was born in 1866 in Astoria, New York to Charles A. White.
The
Whites’ house was located in the same block as 37 Hillhouse—the home
where George W. Bush lived when his father was a student at Yale. The
Bush residence is now Yale’s Department of Economics, and Yale’s
president lives at 43 Hillhouse. See website
for Farnam Guest House, which states: "Henry Farnam (1803-1883), made
his fortune in the railroads in the middle 1800's and contributed a
great deal of money to the early beginnings of Yale. Through his
generosity, Farnam Hall, the freshman dorm at Yale, and The President's House at 43 Hillhouse were erected....The Farnams built this lovely Georgian Colonial, 616 Prospect Street, in 1934 and moved here when their residence, 43 Hillhouse Avenue, was bequeathed to the president of Yale."
