During 1910, the president of Princeton College wanted the new Graduate School to be the centerpiece of the campus. The dean of the Graduate School wanted it to be located off-campus. Since large alumni donations favored the Dean’s vision, the target location settled on a golf course.
Disappointed with the new location, the president left Princeton to run for the Governor of New York and won the election in 1910. Winning the Presidency of the U.S., two years after resigning as President of Princeton, satisfied his power urges. Woodrow Wilson became one of the most influential presidents of the last century.
1913, October – Revenue Act
Tariff rates were reduced, but the reinstitution of a Federal Income Tax compensated for the lost revenue. This is the primary source of government income today with the remainder borrowed from the Federal Reserve.
The highest rate was 7% at the start. Most people only paid 1%-2% of this flat tax. The rates have changed significantly since the initial Act.
|Revenue Act of 1913
Normal income tax and additional tax on individuals
38 Stat. 166 
|Income||Normal rate||Additional rate||Combined rate|
1913, December – Federal Reserve Act
Wilson passed the Federal Reserve Act which created our central bank. The crafters included the Rothschild’s, Rockefeller, and the Vice President (Col. Edward House). This established a cozy relationship between the bankers and the politicians. The federal government could borrow money from the Federal Reserve to fund their projects. The bankers gladly loan the money with interest. The American taxpayers are accountable for repaying the debt.
“Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.
This is the third central bank in the U.S.
- First National Bank – 1791-1811: Ended when the 20-year charter expired
- Second National Bank – 1816-1836: Andrew Johnson vetoed renewal in 1836. He then removed all federal money from the Federal banks and deposited them in state banks.
- Third National Bank – 1913 – Present: After the Panic of 1907, the solution to stabilize the banking community resulted in the enactment of the Federal Reserve.
The Federal Reserve is unregulated by Congress. The U.S. debt is approximately $20 trillion. Numerous booms and busts have passed. The hidden tax of our expanded money supply is inflation.
The image shows how in 1913 you could buy nearly 50 oz. of gold for $1,000 and today only 0.75 oz. Thus against real money – GOLD – the dollar has declined 98% since the creation of the Federal Reserve Bank of New York in the USA in 1913. But it is not only the dollar that has declined in value; all major currencies have lost 97-99% against gold since 1913. Until 1971, the US dollar was backed by gold. Since Nixon abolished the gold backing, money printing started in earnest and in the last 41 years the dollar lost 98% in real terms.
1917 – World War 1
Wilson receives approval from congress to declare war on Germany after its submarines attack U.S. merchant ships. Germany warned the U.S. that the ships were in hostile waters, but the ships refused to alter their courses resulting in damaged or sunken ships.
The war machine is facilitated by money borrowed from the Federal Reserve so that congress can spend the money.
1920 – League of Nations
Wilson campaigned aggressively for a cooperative national community to prevent future wars. The League of Nations was a precursor for the United Nations.
As the father of the modern Progressive movement, Wilson’s ongoing impact a century later includes: the federal income tax (the rates are higher now), the Federal Reserve (various booms/busts, almost a $20 trillion debt, and government bailouts), the war to end all wars (followed by the second world war), and the United Nations. We continue to move closer to the New World Order with the: United Nations, World Health Organization, International Monetary Fund, and the European Union.