Comment: Thus they planned panics of 1893, and reaped harvests of farms in 1894, as planned in 1891. In fact every panic, “depression,” and the present threatened “recession,” which will be in the language of a Dallas banker, “A honey,” was blueprinted and managed by the bankers of America directed by the bankers of London, Berlin, Paris. The American Bankers Association, one week after Grover Cleveland was inaugurated, on March 11, 1893, sent the following letter to all bankers:
“Dear Sir: The interest of National Banks requires immediate financial legislation by Congress. Silver, silver certificates and U.S. Treasury notes must be retired. National Bank Notes on a gold basis must be made the only money. This will require the authorization of $500 million to $1 billion new U.S. Bonds as basis of circulation. You will — MUST retire at once one-third of your circulation, and call in loans. (They got this in 1934! They never quit.)
“Be careful to make a monetary stringency among your patrons, especially among influential business men. Advocate extra session of Congress to repeal the silver purchasing clause of the Sherman Law. Act with other banks of your city in securing a large petition to Congress for its repeal. Use personal influence with your Congressmen, and particularly let your wishes be known to your Senators. The future of National Banks, as fixed and safe investments, depends on immediate action, as there is an increasing sentiment in favour of Government legal tender notes-bills and silver.”
Ex-President John Adams wrote to his friend Ex-President Thomas Jefferson, and said: