But, the Bank of England concentrated
immense powers in the hands of a few and unscrupulous bankers. The war of
independence of the United States of America was mainly a war against the Bank
of England. To prevent America from falling again under the dictatorship of a
few greedy bankers, the founding fathers of the United States prohibited, in
the first article of the constitution, the establishment of a private central
bank: “Only the Congress shall have power … to coin money, regulate the
value thereof.”
The Vital Needs Theory - page 80