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rediscount-rate

Charles August Lindbergh

This article is about the politician from Minnesota. For his son, the aviator, see Charles Lindbergh.

Charles August Lindbergh (January 20, 1859May 24, 1924) was a United States Congressman from Minnesota's 6th congressional district from 1907 to 1917. He opposed both American entry into World War I, and the 1913 Federal Reserve Act.

Early life

Lindbergh was born as Carl, in Stockholm, Sweden to Lovisa Galen, the nineteen year old mistress of Ola Månsson, who was a member of the Riksdag and a bank officer. When accused of bribery and embezzlement, Månsson changed his name to August Lindbergh, left his wife and seven children, and fled to the United States with his mistress and their illegitimate infant son in 1859. Lovisa became Louisa and little Carl became Charles August Lindbergh. They settled in Melrose, Minnesota, and had six more children. August worked as a farmer and a blacksmith for 26 years before marrying Louisa in 1885; he had become a widower in 1864 with the death of his first wife in Sweden.

Charles August Lindbergh studied law at the University of Michigan Law School, graduating in 1883 and being admitted to the bar the same year. In 1887, Lindbergh married Mary LaFond with whom he had two daughters, Lillian and Eva. Mary LaFond died in 1898. In 1901, Charles married Evangeline Lodge Land. They divorced in 1909, their only child being the famous aviator Charles Lindbergh, who also became an antiwar leader.

Political career

He served as prosecuting attorney for Morrison County, Minnesota from 1891 through 1893. He was elected to the U.S. House of Representatives in 1906, as a Republican, serving in the 60th, 61st, 62nd, 63rd, and 64th congresses. In 1916 he unsuccessfully campaigned for a seat in the United States Senate. At the time of his death, Lindbergh was a candidate for Governor on the Minnesota Farmer-Labor Party ticket, and would have been the first Minnesota Governor from the party, had he been elected.

In 1913, he wrote Banking, Currency, and the Money Trust, and in 1917 he wrote "Why is Your Country at War?," attributing high finance as America's involvement in World War I. According to Eustace Mullins, plates of this book were confiscated and destroyed by Government agents.

Charles August Lindbergh died in Crookston, Minnesota. His ashes are interned in the columbarium at Lakewood Cemetery in Minneapolis.

Famous quotes

  • "This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President (Woodrow Wilson) signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill."

Also quoted as:
*"This Act establishes the most gigantic trust on Earth. When the President signs this bill, the invisible government by the Monetary Power will be legalized, the people may not know it immediately but the day of reckoning is only a few years removed.... The worst legislative crime of the ages is perpetrated by this banking bill."

  • "A radical is one who speaks the truth."
  • "The Aldrich Plan is the Wall Street Plan. It means another panic, if necessary, to intimidate the people. Aldrich, paid by the government to represent the people, proposes a plan for the trusts instead." - The Aldrich Plan (History of central banking in the United States) was a forerunner to that which spawned the Federal Reserve.
  • "To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount rate..., producing an expansion of credit and a rising stock market; then when ... business men are adjusted to these conditions, it can check ... prosperity in mid career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. They know in advance when to create panics to their advantage, They also know when to stop panic. Inflation and deflation work equally well for them when they control finance."
  • "The financial system [...] has been turned over to the Federal Reserve Board. That board administers the finance system by authority of [...] a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money."

References

Notes

Bibliography

  • Larson, Bruce L. Lindbergh of Minnesota: A Political Biography. New York: Harcourt Brace Jovanovich, Inc., 1973. ISBN 0-15-152400-9.

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