The Interest of a Dragon

The Interest of a Dragon

            This letter will serve as possibly the only testament to the true tale of the events that took place on Jekyll Island in 1910. While I dare not reveal myself it is common knowledge as to all those in attendance at the creation of the banking system that would one day become the Federal Reserve. Age has finally caught up with me and the pleasure and desires of this world are long had, I now see what lies ahead of me and it is not joyful. Having held this in secret so long I can no longer bear its pressure on my soul, a soul that is certainly bound for a terrible fate. The strangeness of what was witnessed on Jekyll Island will simply be rejected as fiction, but it is shamefully and terribly true.

            We left at dark on a private train; I can barely remember the trip at all. Everyone there was the rational sort of men that didn’t fancy themselves to be tempted of anything but profit. These were the type of men that were stiff, and enjoyed thinking highly of themselves for no particular reason, other than their lofty upbringing. In those days we were dangerous in our ideals and smug in our dealings. Much of the conversations being carried on in the train had nothing to do with what was to take place. Paul Warburg, a German immigrant and bank heir, was the quietest in the bunch and seemed the most anxious. JP Morgan’s boys, Henry Davison and Benjamin Strong, paid little attention to anything at all and would occasionally whisper to themselves about inside acquisitions and political drama in the elite social circles. Charles Norton, president of the Morgan dominated First National Bank of New York, was deep in his powder pouch and seemingly never slept; he listened to conversations, but had no replies during most of the trip. Senator Nelson Aldrich spent his time talking about himself, mostly with Piatt Andrew, the assistant secretary of the treasury, and Frank Vanderlip, president of the National City Bank of New York, both of whom were pretending to pay attention. Shelton, Senator Aldrich’s private assistant, nosed around but was thoroughly out of place and he knew it. He sat far away from everyone and waited to be called for by Aldrich.

    After departing the train we took a boat ride that was a bit uneasy to the hunting lodge. The club members had been notified that the grounds would be off-limits for the duration of our business there; additionally the normal staff was replaced so as to not draw any attention to our affairs. From the very start we were notified that no last names were to be used and the utmost secrecy was needed. The lodge was an enormous structure that resembled a hunting palace in the old world. Servants came out to greet us at the dock and fuddled around a bit half knowing what to do. We walked up the pathway to the club house and entered the main hall and were each shown our rooms. We were to tentatively meet back for lunch in the main hall where we would convene our first rounds of discussion.

    Lunch was served, of course, with the most exquisite meals available. Our four course meal began with soup and carried on and on. Finally Senator Nelson broke the peace and called the servants out of the hall and directed for none to enter without permission. He was seated at the head of the table with his high backed chair’s crest hovering over his head ominously.

    “Gentlemen,” he began; “we have been presented a rare and delicate task of making a central banking system. Given the late events of the poorly attempted cornering of the copper market we have been purposed with a rare opportunity of public support of making changes to the system. This will be a delicate process and no one must learn about the discussions held here and anything that may come of them. If the public should find out that the likes of us is behind these changes they may be rejected. Sadly, there exist many rich fools at present and these unruly characters must be put in their place so that order can be again regained. The question is how do we accomplish this, and that is precisely why we have convened and that is the aim of this purpose. I have been chosen to oversee these proceedings and then present them to the congress. This is our chance to finally take hold of the nation’s finance and this opportunity cannot be again delayed or snatched away for the sake of us all. As I am sure by now everyone has met Paul, he is here to establish a central bank the likes of which exist in Europe. This is so that we can ensure things will go as well over here as they have over there.”

Nelson then pointed to Paul who sat still and quiet.

    Paul stood up and walked across the rooms to check the doors ensuring that no trace of eavesdroppers could be sensed on the other side. Nelson seemed to grudgingly approve of this action.

Paul started in a calm, but hushed voice “we have come here for a purpose and that is a private central bank that controls the money supply.”

Paul’s accent was thick and grated on the New Yorkers, he wasn’t much liked but they tolerated him at present. Paul remained poised as he stated oddly;

“It must be comprehensive and take hold of all financial instruments to ensure that all future sources of income are taxed and interest can be gained upon the debt issuance of each note. It must be rigid enough to deter those willing to oppose it and fluid enough to bless those who support it. I was brought here to ensure that this venture will produce the utmost profits and that the profits will be nearly impossible to detect by even the best able to find them. At this very moment we are poised in a perfect position to bring about the central bank that the whole world will envy and endorse.”

    From this point forward much stern debate was had and many ideas were discussed with Paul lecturing the group on the inner workings of the central banks. Nelson would butt in many times with some pompous comment that served only to assert his prominence in the Senate. To which Henry would play the part of arbitrator and bring accord back to the discussion and get the meeting back on track. The New Yorkers were still not sold on Paul yet, but he seemed to pay little attention to their grumblings and used his clearly superior understanding of banking to control the task at hand. Paul would throw out his plans for profit to end fierce agitation and bring calm to the fray of ideas being passed about. Finally the evening had come upon us all, fierce debate was immediately silenced at the knocking sound by one of the servants on the door. Nelson stood up;

    “Gentlemen dinner must be at hand let us put forth this debate until after we have eaten. Our minds may be clearer and stomachs less agitated,” his words spread calm as he ushered the servants in.

    Big round silver trays filled with food that could have fed a company of men rolled in. Lamb and duck with all the sides were laid out before us. Wine poured into crystal glasses that reflected the gold laced silverware in their diamond patterned sides. All there were too accustomed to this lifestyle; no one even noticed the richness of this palace and its meal. From the chandeliers to the servants all part of the norm. Rich men worry not over the luxury had, but rather that they continue to have more of it. Lunch had been a much better environment, by dinner everyone had profits on the mind. The rich food seemed tasteless in our mouths and the wine did not satisfy anymore. A deep hunger had been stirred in those of us there. Greed had been wakened by Paul’s lectures and while everyone ate they also calculated the possibilities of monopoly.

    Stirring in the bellies of us was a foul and covetous rancor as icy stares caused the room to freeze with tension. Distrust was common and we all enjoyed the challenge. Frank broke the brooding with a sinister quandary that lay at the forefront of all minds.

“How is this private enterprise to be divided amongst us?” he asked. 

    Paul set perched with a glass near his lips. All fixated on his roaming eyes as he put down the glass;

“Soon we will bring in the one who can decide all that needs be had and settle all desires”.

    Only Paul seemed to grow dark everyone else grew curious. Everyone became competitive in their spirits after Frank’s question and a ferocity that only power hungry men can wield was given life in a secret harbor of the heart.

    After dinner the servants were sent off and the doors where shut. The hour was late, but no one was tired, profit and lust stymied the sensation for sleep. Charlie set smoking a cigar and Nelson his pipe. An evil presence had filled the air; one that we were proud of and thought our own concoction. Then Paul got up and beckoned all to follow. None knew save Paul what awaited us, for if we had, we would have never followed. None could have imagined anything so vile and terrible could have ever existed. We traipsed pensively down the corridor all of us too rational to realize the terrible spell we were under. Down the stairs and hallway we walked to where we finally stopped in a strange open hall that was mostly dark save a few candles on a sidebar. It was warm in there and the air seemed strange. Paul looked ahead tensely, waiting for something to emerge from the darkness.

    Everyone there considered themselves to be powerful men, but what happened next would cause us to be humbled. An enormous creature came forth filling the space therein; its elongated head resembling that of a scaled deer with many horns, settled right before us. Our breath caught in disbelief as we stared into eyes like living fire swirling amongst the stars. Then the being spoke

    “Children of men do not be afraid. I am your treasure now and always this purpose is for me that you may be wealthy.’’

    His eyes searched us terribly and pulled our lust into our minds eye. Some saw golden kingdoms some saw great expanses of land, never the less every desire welled in our minds as he the beast weaved his words like a spell in our hearts.

“Look upon me”, he called like a siren to ships adrift,

“These scales of mine are pure gold” and as he spoke it became so,

    “My bones are ivory and my claws diamonds. I am a living treasure and as I age I grow, but I must be kept safe and secret. I am the treasure and the treasure that I keep. Build this house for me that I may abide within it. Sell the world paper for gold, silver, and jewels.”

     The beast talked to us and gave us a plan. His spell captured us like nothing ever before, and we were driven by his visions ever after. He named many men that would help us and he told us those to avoid. He foresaw all that would happen and gave us great knowledge of things to come.

    To this day his words ring clearer than silver bells in my mind. He spoke in riddle, but easy to translate when the time came. His existence may be perplexing but none the less after such an encounter we were all turned into dragons ourselves hording and coveting to all new heights. The truth is that while mortal men may have penned the Federal Reserve Act some ancient devil made it. He made us powerful and caught us in his spell, bound by our own greed. Now I see what I could not before. I was enchanted by this Dragon to do his work on earth, so that the richness of the world may be brought willingly to him. The whole charade was hidden from the public and the truth of the tale is so terrible I fear it cannot be accepted.

    The dragon was large last I saw him, but he must have grown immensely since then and those of us that benefit from this private monopoly have grown even more. We are wealthier than you could ever imagine. Terribly something inside us is never satisfied, even still I crave more and more. However, now I know that more will never make me happy and that truthfully I have sold my life for a single purpose, the interest of a dragon.