Without objection, it will be included. It recognizes that there is no cure for this evil short of making the United Nations into a universal organization capable of enacting, interpreting, and enforcing world law to the degree necessary to outlaw force, or the threat of force, as an instrument of foreign policy. No, sir; I am not in favor of that, as I stated in my testimony. Is it so certain that we cannot afford to go ahead nevertheless with the constructive program put forward by Senator McMahon? It may, hitch together, because that is only half of what I want to say. Paul Moritz Warburg (August 10, 1868 - January 24, 1932) was a German-born American investment banker who served as the 2nd vice chairman of the Federal Reserve from 1916 to 1918. Many of his contemporaries regarded him as the chief driving force behind the establishment of America's central bank. Actual legislation was still years away. Harold Kellock, "Warburg, the Revolutionist". The money we are now spending in western Europe and in other parts of the world for purely economic aidexcluding military assistancecomes to at least $4,000,000,000 a year. Mr. WARBURG. Copyright 2023 The Forward Association, Inc. All rights reserved. The American people, Schiff explained, do not want to centralize power. God is everywhereeven in the news. Call (800) 700-7000 or request prayer. The second of these new facts would be dynamic. If there were such a thing as a world government, we would be better prepared [to fight disease outbreaks]. REVISION OF THE UNITED NATIONS CHARTER James Warburg, financial advisor to FDR, and part of a banking family that stood to gain financially from world government, testified in 1950 before a Senate Congressional subcommittee that. I would hesitate to express an unconsidered opinion as to this, Senator. I am not assuming that we will run the world government. I mean, there should be a cooperative endeavor, such as Senator McMahon was talking about, in which everybody chips in. One world government is inevitable." George Herbert Walker Bush: September 11, 1990: "Out of these troubled times, our objectivea new world ordercan emerge. Does God allow evil in the world? That is one of the difficulties we have. The steady progress of the massed forces of humanity embattled in a common crusade against hunger, poverty, disease, and ignorance. But it will, at long last, chart our own goal and enable us to steer a straight course toward a clearly seen objective. He resigned from the Board on August 9, 1918. One of these facts, which your colleague specifically proposed to create, would, in my judgment, be far more powerful than our recent decisions to develop and manufacture hydrogen bombs. He similarly worked for Samuel Montague & Company, bankers, in London in 18891890, and the Banque Russe pour le Commerce Etranger in Paris in 18901891. I think the political line is that we must declare our intention to do the one thing that can preserve the peace in the world, and oddly enough, the United States and the Soviet Union are the only two great powers that are on record as opposing the transformation of the United Nations, That is the only thing we agree with Uncle Joe on. The real difficulty lies elsewhere. This criticism seems to me wide of the mark. Senator McMahon's proposal carries the affirmative emphasis over into the whole of our foreign economic assistance effort. The Vatican said: It is the task of todays generation to recognize and consciously to accept these new world dynamics for the achievement of a universal common good. He thought the Second Bank was a tool of moneyed elites (just as populists today accuse the Fed of favoring Wall Street). Dr. Michael Youssef was born in Egypt and lived in Lebanon and Australia before coming to the United States and fulfilling a childhood dream of becoming an American citizen. Second: Senate Resolution 56 does not commit the United States to any specific next steps to be taken toward the attainment of that objective. In order not to trespass upon your time, Mr. Chairman, I have left a number of gaps in the presentation of the suggested modification of the McMahon proposal. The united determination of the majority of the world's peoples to establish a rule of law and thus eventually to free themselves from the burden of armaments and from the overhanging fear of annihilation; and. We have to have that recognition. I think we have lost it. Roger Lowenstein is the author of Americas Bank: The Epic Struggle To Create the Federal Reserve (Penguin, 2015). In the last 50 years, more than 50% of the cabinet members of both the Republican and Democrat Presidential Administrations have been members of this organization. Thus, the 5-year program would cost us 30not 50 billions. I don't think we can meet that crisis in any other way except by embarking on this road, and then doing some other things as well. November 29, 2015, Paul Moritz Warburg, a German-Jewish immigrant who was one of the founding fathers of the U.S. Federal Reserve, had a fervent wish that his creation would be seen as one of Americas great monuments like the old cathedrals of Europe.. The only question is whether that government will be achieved by conquest or consent. Therefore, whatever we do in Asia must, we think, be done without spending any substantial funds from our Treasury. Now, the thing I am trying to bring out in my questions is, that no mechanism will do the job unless there is a willingness and intent on the part of the peoples to carry it through. The question is only whether world government will be achieved by consent or by conquest.. Indeed, why should Russia prefer the unpredictable hazards of war to a continuation of here present profitable fishing in the troubled waters of an uneasy armistice? Senator SMITH of New Jersey. In times of financial stress, each bank seeking to protect itself would pull back on credit, accentuating the general scarcity, causing interest rates to soar. Moreover, even if the Russians were to accept a modified Baruch plan, this would not suffice, because, at best, such a plan would outlaw only one type of weapon and one method of waging war. Russell Leffingwell, "Reserve Banks & the Future". He also made substantial contributions to the Warburg Library in Hamburg, founded by his brother, the art historian Aby Warburg; he gave a hall known as the American House to Heidelberg University; and he made generous donations to the Academy of Political Science in Berlin.[2]. -- James Paul Warburg - In an address to the U.S. Senate, July 17th, 1950 Warburg was the son of Paul Moritz Warburg, architect and first chairman of the Federal Reserve System and Chairman of the Council on Foreign Relations, 1921-1932. Mr. WARBURG. But it takes a lot of hard work, time, and money to do what we do. Yes, but nothing I ever said, or that I have ever written indicated that I think that by passing a resolution we will have the millennium, nor are we talking about a mechanism. (February 17, 1950, as he testified before the US Senate). 1. James Paul Warburg (August 18, 1896 - June 3, 1969) was a German-born American banker. It cost us very early as much per week as this program would cost us per year. They have been trying in every way, through the United Nations, through their ambassadors, to try to reach some workable arrangement with Joe Stalin. states, if that might not be better in this resolution, if adopted. It seems to me that, were he to do this, Senator McMahon would have a theoretically impeccable plan. Let us present the Kremlin With the fact that the United States is determined, in spite of its military burdens, to commit an act of faith-to dedicate its great strength to constructive cooperation with all the world's peoples in a world-wide crusade against hunger, poverty disease, and ignorance. Y.]. Prior to his term as vice chairman, Warburg was appointed a member of the Federal Reserve Board of Governors in 1914. Mr. WARBURG. This is the sort of bold affirmative action in the economic field which could, if pursued, create the climate for the attainment of our political objectivenamely, the establishment of a world community living at peace under law. Llewellyn H. Rockwell, Jr., "The Real Secrets of the Temple". Its opponents today are more mainstream. That is the political approach. The creation of the other lies in your hands today. I am assuming that a government will be run as our own Government is run, by the development of a fair process of . Similarly, were the Fed inflicting hardship on Americans with onerous interest rates, the anger would be comprehensible. For the first time since the cold war began, one of the major architects of United States foreign policy stood up and denounced the sterility of the present negative approach to peacedenounced as hopelessly outworn the ancient motto: He who wants peace had better prepare for war. This was the beginning of hope. [1][2], Warburg was elected a director of Wells Fargo & Company in February 1910. But Senator McMahon did more than merely repudiate the idea that security can be attained through maintaining the greatest arsenal of destructive weapons. To a very great extent, I believe this hypothesis to be an illusion, especially in the initial stages of the program. I am fully aware that the mere passage of this resolution will not solve the complex problems with which we are confronted. If we could do that, find the common pattern or the common meeting ground for the non-Soviet world, and I believe it can be done, then one begins this trial-and-error business, finding out how the details would work out in terms of a constitution, and so forth. Freed from its self-defeating proviso, Senator McMahon's proposal can become a mighty weapon for peace. The oppressive reign of the Antichrist is the goal toward which the globalists are working whether they know it or not. "[22] Despite some minor quibbles, Warburg himself largely celebrated the OwenGlass Bill in the North American Review. Various commentators have pointed out that this point of departure negates the whole proposal and makes it merely a clever propaganda maneuver. I am aware, Mr. Chairman, of the exigencies of your crowded schedule and of the need to be brief, so as not to transgress upon your courtesy in granting me a hearing. 1.8M subscribers in the conspiracy community. Senator SMITH of New Jersey. I think we are talking about an aim to find a mechanism; something different. Mr. Chairman, I prefer Senate Resolution 56 to other resolutions now before you for two major reasons: First: Senate Resolution 56 goes to the root of the evil in the present state of international anarchy. In contrast to Senate Resolution 56, other proposals before you seem to me either to set a goal short of what is needed to ensure peace, or to foreclose the ultimate attainment of a universal organization by an over-eager acceptance of half measures, on the theory that half a loaf is better than none. [1][2], He encouraged GermanAmerican cultural cooperation, helping found the Carl Schurz Memorial Foundation in 1930 and serving as its treasurer from May 1930 until his death. As the worlds politics become even more convoluted, many utopian-minded individuals are pushing for more global governance organizations to help order the billions of people around the world. Senator WILEY. "[9], Shortly thereafter, the New York Times published Warburg's "Defects and Needs of our Banking System". We have so far been attempting to deal with isolated parts of the world economy without an over-all concept or plan. Mr. WARBURG. Do you think, Mr. Warburg, that it should be a fundamental objective of the foreign policy of the United States to support and strengthen the United Nations and seek its development into a world federation open to all nations with defined and limited power? See our full guidelines for more information, and this guide for detail about canonical URLs. I would find it difficult to imagine any practical plan which did not involve some form of world government. The past 15 years of my life have been devoted almost exclusively to studying the problem of world peace and, especially, the relation of the United States to these problems. Let us now consider the conditions upon which this extremely interesting proposal has been put forward. Senator WILEY. Mr. WARBURG. What we need to do is to outlaw war itself. Now, I want to ask another question: Assume now that pursuant to this resolution the President is requested to head in a certain direction in foreign relations to take steps to support and strengthen the United Nations in such a way that there will be developed a world federation open to other nations. In signing his name to this resolution, Senator McMahon recognized that there can be no peace without a world organization capable of enacting, administering, and enforcing world law, in such a way as to prevent aggression by any nation against another with any weapons of force-from hatchets to H-bombs. This brings me to the final observation I should like to make concerning the Senator's proposal. I am assuming that a government will be run as our own Government is run, by the development of a fair process of representation which has to take in all the factors that apply to that, not only population, but productivity and education and all those things. But what about fighting disease? I am saying we should proceed, irrespective of a treaty with the Russians. In America, by contrast, each bank was responsible for its own reserve. Mr. Warburg, I am interested in your program here. He interrupted work there to undertake a world tour during the winter of 18911892. I have been asked as to those things, and as to the substitution of the word order for the word federation so that you won't have the implication of some kind of federated. Even the Catholic Church is involved in the effort to impose a global government on the world. Paul M. Warburg was sworn in as a member of the first Federal Reserve Board on August 10, 1914.