History

Re: Can anyone locate a document?

Autolykos — Wed, 07 Mar 2012 21:46:01 GMT

http://www.michaeljournal.org/bankphilo.htm:
The interests of national banks require immediate financial legislation by Congress (the United States Government). Silver, silver certificates, and Treasury bonds (that is to say, all the Government's money) must be retired, and National Bank Notes made the only money.

This will require the authorization of $500 million to $1 billion of new bonds as the basis of circulation. You will at once retire one-third of your circulation (your paper money) and call in one-half of your loans. Be careful to make a monetary stringency among your patrons, especially among influential businessmen.

Advocate an extra session of Congress to repeal the purchasing clause of the Sherman Law, and act with other banks of your city in securing a large petition to Congress for its unconditional repeal per accompanying form. Use personal influence with your Congressmen, and particularly let your wishes be known to your senators.

The future life of national banks, as fixed and safe investments, depends upon immediate action, as there is an increasing sentiment in favor of Government legal-tender notes and silver coinage.

It sounds like the national banks simply didn't want competition. Go figure.

Re: Can anyone locate a document?

protection — Wed, 07 Mar 2012 21:18:27 GMT

http://www.yamaguchy.com/library/clark/shylock_12.html

Re: Can anyone locate a document?

Jargon — Wed, 04 Jan 2012 03:18:25 GMT

pretty damning, though I'd still like to see the whole thing. The content of the circular and the proceeding events lead me to believe that it was published by Morgan men.

Re: Can anyone locate a document?

Wheylous — Wed, 04 Jan 2012 03:02:47 GMT

Is that good enough?

Re: Can anyone locate a document?

Jargon — Wed, 04 Jan 2012 02:59:17 GMT

Thanks

Re: Can anyone locate a document?

Wheylous — Wed, 04 Jan 2012 01:46:57 GMT

http://books.google.com/books?id=6N9j88P7oqEC&pg=PA660&lpg=PA660&dq=%22The+interests+of+national+banks+require+immediate+financial+legislation+by+Congress%22&source=bl&ots=_mZksu65wb&sig=SXF_TeH-QcuwYP4NXdE7MQd7Lqs&hl=en&sa=X&ei=ZKEDT5u7I-jz0gHF0MGGAg&ved=0CEwQ6AEwBQ#v=onepage&q=%22The%20interests%20of%20national%20banks%20require%20immediate%20financial%20legislation%20by%20Congress%22&f=false

Re: Can anyone locate a document?

Wheylous — Wed, 04 Jan 2012 01:45:48 GMT

“The interests of national banks require immediate financial legislation by Congress (the United States Government). Silver, silver certificates, and Treasury bonds (that is to say, all the Government's money) must be retired, and National Bank Notes made the only money.

“This will require the authorization of $500 million to $1 billion of new bonds as the basis of circulation. You will at once retire one-third of your circulation (your paper money) and call in one-half of your loans. Be careful to make a monetary stringency among your patrons, especially among influential businessmen.

“Advocate an extra session of Congress to repeal the purchasing clause of the Sherman Law, and act with other banks of your city in securing a large petition to Congress for its unconditional repeal per accompanying form. Use personal influence with your Congressmen, and particularly let your wishes be known to your senators.

“The future life of national banks, as fixed and safe investments, depends upon immediate action, as there is an increasing sentiment in favor of Government legal-tender notes and silver coinage.”

http://www.michaeljournal.org/bankphilo.htm

Re: Can anyone locate a document?

Wheylous — Wed, 04 Jan 2012 01:43:17 GMT

You will at once retire one-third of your circulation and call in one-half of your loans. [After this you are to] advocate an extra session of Congress to repeal the purchasing clause of the Sherman Law, and act with other banks of your city [to push] for its unconditional repeal.... The future life of national banks … depends upon immediate action, as there is an increasing sentiment of … silver coinage.

From http://thenewamerican.com/history/american/6989-the-panic-of-1893-boosting-bankers-money-and-power

Not the entire document, but a part. You want the original?

Can anyone locate a document?

Jargon — Wed, 04 Jan 2012 01:23:15 GMT

Specifically, the Panic Circular of 1893?