Louis Thomas McFadden
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Louis Thomas McFadden (July 25, 1876 – October 1, 1936) was a Republican member of the U.S. House of Representatives from Pennsylvania.
McFadden was born in Granville Center, Troy Township, Bradford County, Pennsylvania. He graduated from Warner's Commercial College in Elmira, New York. In 1892 he entered the employ of the First National Bank in Canton, Pennsylvania. In 1899 he was elected cashier, and became its president on January 11, 1916, serving until 1925.
He served as treasurer of the Pennsylvania Bankers’ Association in 1906 and 1907, and as president in 1914 and 1915. He was appointed in 1914 by the agricultural societies of the State of Pennsylvania as a trustee of Pennsylvania State College.
In 1914, McFadden was elected as a Republican Representative to the Sixty-fourth Congress and to the nine succeeding Congresses. He served as Chairman of the United States House Committee on Banking and Currency during the Sixty-sixth through Seventy-first Congresses, or 1920-31. He was an unsuccessful candidate for reelection in 1934, and for nomination in 1936.
McFadden is remembered for his criticism of the Federal Reserve, which he claimed was created and operated by European banking interests who conspired to economically control the United States. McFadden also claimed that Wall Street bankers funded the Bolshevik Revolution through the Federal Reserve banks and the European central banks with which it cooperated.
In 1932, he motioned to impeach President Herbert Hoover, and also introduced a resolution bringing conspiracy charges against the Board of Governors of the Federal Reserve.
In 1933, he introduced House Resolution No. 158, Articles of impeachment for the Secretary of the Treasury, two assistant Secretaries of the Treasury, the Board of Governors of the Federal Reserve, and the officers and directors of its twelve regional banks.
McFadden died in 1936 on a visit to New York City, and was interred in East Canton Cemetery in Canton, Pennsylvania.
[edit] Sources
- Biography at the Biographical Directory of the United States Congress
- "Louis T. McFadden on the Federal Reserve." Modern History Project. Retrieved 25 Nov 2006. — Purports to provide text of McFadden's June 10, 1932 speech condemning the Federal Reserve.
- "The Greatest Hoax: A tribute to Congressman Louis Thomas McFadden". Sweet Liberty. — Article, from conspiracist web site, purporting to provide a biography of McFadden and excerpts from his speeches.
- The Political Graveyard
- Flaherty, Edward, Ph.D. The Legendary Tirade of Louis T. McFadden — Article criticizing McFadden's speech against the Federal Reserve.
[edit] Political Data -
| Preceded by William D.B. Ainey |
Member of the U.S. House of Representatives from Pennsylvania's 14th congressional district 1915 - 1923 |
Succeeded by William M. Croll |
| Preceded by Edgar R. Kiess |
Member of the U.S. House of Representatives from Pennsylvania's 15th congressional district 1923 - 1935 |
Succeeded by Charles E. Dietrich |
