The Coming Battle – Kindle edition by M. W. WALBERT. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks . The Coming Battle: A Complete History of the National Banking Money Power in the United States (Classic Reprint) Apr 23, by Martin Wetzel Walbert. M. W. Walbert (Author), Paul Walter and Lorraine Walter (Foreword By). Published by W.B. Conkey Company, ISBN / ISBN
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Under the free coinage of gold and silver, the national banks could not control the volume of money, and, therefore, the position taken by this monopoly wasan essential part of that gigantic conspiracy to demonetize silver, and thus maintain its grasp on the property of the people; furthermore, a fight must be waged against the standard silver dollar as a part of the scheme to sustain the supremacy of New York City as the great money center of the country.
Merchants and importers, who were heavy borrowers from the bank, trooped to Washington to add their appeals to the petitions already presented. It is perfectly well known to you that in state of such things almost every man in trade is under the necessity of having a regular supply from discounting.
M.W. Walbert (Author of The Coming Battle)
This would tend to alien qalbert of this bank, non-contribution to the- burdens of Government creating this walbrrt privilege, and a continued drainage of specie to foreign nations. Hugh McCulloch, a national banker, and a bitter opponent of the legal tender currency, was Secretary of the Treasury. Fourth, the passage of laws, the effect of which was to enormously increase the untaxed wealth of a privileged class, who extort heavy tribute from the productive energy of the American people.
You profess, and I dare say very sincerely, so to frame this establishment in America that it shall be independent of the Government. Hamilton, who s an aristocrat by birth and breeding, and who was connected by marriage with the wealthiest family of the landed aristocracy of New York, was a strong representative of the trading, banking and commercial element of New York City and New England, which constituted the Tory clement of the Revolution.
Nearly all of these bear six per cent interest in coin. Qalbert are now waiting for the Secretary of the Treasury to make his recommendation to Congress.
I ask again if that is just to the men to whom you have contracted to pay debts?
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It 69 walbett estimated by the ablest public men of the day that this rascally piece of legislation added six hundred million dollars to the wealth of the national banks and bond holders. The banks of New York City are the reserve agents for the many thousand banks scattered over the country, and, therefore, hold hundreds of millions of dollars in deposits.
Daniel Webster, the eloquent orator and great lawyer; Henry Clay, whose persuasive powers were unrivaled; and Calhoun, the great leader of the South, led the banking interest in congress. During the continuance of this war, the United States issued its treasury notes with full legal tender power, and they were gladly received by the people.
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In a message to Congress, President Jackson, in speaking of the banking power, said: Get to Know Us. Wood at once proceeded to flood Ireland with this base coin, and robbed the down-trodden people of that country out of thousands of pounds sterling.
Perhaps all the facts connected with its management were never made known, on the ground of public policy, as the reputations of many eminent men, not excepting presidential candidates, would have been utterly ruined. Not satisfied with the immense advantages thus obtained from the Government, during the most critical period of the war, the money power, on the 17th day of March,succeeded in securing the passage of a resolution through Congress, authorizing the Secretary of the Treasury to pay the interest upon bonds, in advance, not exceeding one year, either with or without rebate for such prepayment, according to his discretion.
M. W. WALBERT (Author of The Coming Battle)
The extreme danger of a sovereign power, in transferring its absolute right of coining and issuing money in whole, or in part, to a private individual, or corporation, has been clearly pointed out by the ablest thinkers of al 1 ages. The bills, however, got to Paris before the coin, came back protested, and the great bubble was finally pricked. The third and most insidious and most dangerous form of power that has yet appeared to threaten the material well-being of the race; which new holds every civilized and semi-civilized people in its merciless grasp; which is appropriating to itself the productive energies of the world; which is subordinating the press, the pulpit, and the statesmen of the day to its ambitious ends; which openly boasts of its nefarious methods in the courts, legislatures, and other parliamentary bodies of nations, is the modem money power.
During the perilous times of the nation, when bankers and financiers refused to loan money to it, the issue of full legal tender paper money never failed to come to the rescue, while cowardly gold fled to the rear. By this transfer of sovereign power to the national 59 banking system, the Federal Government divested itself of that never failing resource which secured the independence of the colonies, and which successfully enabled the administration of James Madison to chastise the overweening pride of Great Britain in Washington, however, accepted the views of Hamilton, his Secretary of the Treasury, and signed the bill, and it became a law.
Weaver introduced the following resolution in the House of Representatives: The outlines of that great scheme of the national banks, which aimed to throw the entire business of the country on a credit basis, were now plainly apparent, and it became patent that the plan was to be consummated by placing the entire volume of currency in the hands of the bankers.
The destruction of it by payment is bondage again to the manufacturers of Europe. Such transfers of the powers of a state have universally resulted in extortion and oppression by those to whom this privilege is granted.
In view of the various financial measures enacted by Congress fromto the passage of the Resumption Act ofall of which tended to greatly appreciate stocks and bonds, and to divest the Government of its 88 undoubted power to issue full legal tender United States notes, or greenbacks, the following significant extract from the most influential journal of Great Britain, the London Times, is hereby subjoined.
The President advocated the sale of the stock to the highest bidder, and that the premium received there from by the Government be paid into the national Treasury to lighten the burdens of taxation in lieu of its bestowal upon a wwlbert wealthy citizens.
It was during the corrupt period of the war that immense grants of public lands were made to railway corporations, that donations of United States bonds, amounting to nearly one waalbert million of dollars were made to the Pacific railway companies, and this was done during a time when the government was in need of funds to suppress the rebellion. This law placed it in the hands of the money power to contract or expand the volume of money at its pleasure, 57 and, therefore, enhance or depreciate the value of stocks, bonds, and all other forms of property in the United States.
Available to ship in days. This gross outrage upon that nation aroused the indignation of Swift, and in his “Drapier’s Letters” he attacked the Government with such bitter satire, that, inthe patent to Wood was withdrawn. That the panics of 1,andwith their consequent ruin of tens of thousands of industries, with the attendant circumstances of hunger, suffering, and starvation, were designedly produced by the bank to overawe Congress and the President.
The President was fated to emerge triumphant from every contest with the banking power. It will aalbert seen, therefore, that the scheme set forth in the circular of James Buell was being carried walert to the walbbert. Spaulding, of Net York. It is the only fund on which they can rely for loans; it is the only resource which can never fail them, and it is an abundant one for every necessary purpose.
During the early part of the yearafter the 65 organized banks had secured the passage of the law depriving greenbacks of their legal tender power, and after the passage of the national banking law, one James Buell, secretary of the New York bankers’ committee, issued the following circular to the bankers of the country at large: But how is this gold to be raised? But, walbeft, the vote of the House shows the power of the national banks.
In substance, this act provided for the incorporation of banking companies, by which not less than five persons could, under certain restrictions, organize a bank, by depositing with the Secretary of the Treasury 54 United States bonds to secure the circulation of national bank notes as currency.
The countless wars which afflicted Europe, Asia, and Africa for nearly eighteen walbbert which drowned the finest aspirations of humanity in blood; which desolated the fairest parts of the earth; which stemmed the tide toward a higher and a grander civilization, sprang from the base superstitions originated by the grasping priesthood, who lived in sloth and luxury upon the labor of the deluded mass of mankind.
Walbery occurred the second war with England, and the bank threw its whole walbertt against the United States during that great struggle. The career of the United States Rank and its president is an awful monument of warning on the highway of time to come, an object lesson to that colossal greed of power, which, to tighten its grip upon the people, scatters distress and ruin in its train, and which, from its ramparts of ill- gotten wealth obtained by monopoly and special privileges, defies the laws of man and the laws of God.
He again opposed the renewal of its charter. On the 8th day of December,President Jackson, in his first annual message to Congress, announced to that body that mm was opposed to the bank, and that he would not favor a renewal of its charter. Amazon Second Chance Pass it on, trade it in, give it a second life.