The midland journal. (Rising Sun, Md.) 1885-1947, 1891-11-20
A Bank Conspiracy.

The following communication from
the Plow and Hammer, of Tifin, Ohio
is over the signature Of Hugo Preyer, q
well known and influential citizen o.
that State:
The bankers Of the United States
formed their first public organ cation al
Washington when they met there Sat-
urday, January Ii, 1862. The dele
gates present were Messers. Coe, 81 the
Merchants Bank, New York I; Martin
Of the Ocean Bank, New York; Gal
latin, Of the National Bank, New York;
Bates, Bank Of Commerce, Boston
Valley, Iron Bank, Boston Wallace,
Merchants Bank, Boston; Rogers,
Tradesmens' Bank, Philadelphia
Mercer, Farmers Bank, Philadelphia,
and Patterson, Western Bank, Philada.
This was the committee appointed by
the bankers association TO see the
finance committee OF the House aud
Senate and shape the financial legisla-
tion OF the country. Wien the first
meeting Of these bankers took place, we
are unable to ascertain. but this is the
first open appearance in public. They
met at the date above stated, January
ii, 1862, at Washington and sent iol
the Senate finance committee. composed
Of Mr.. Fessenden, of Maine Sommers,
of Rhode Island; john Sherman, of
Ohio; Howe, OF Wisconsin; Pearce, OF
Maryland; Bright, of Indiana, and
Dougal, Of California. They also sent
for the House committee. composed of
the following members: Thad. Stevens,
of Pennsylvania +; Morrill,, oil New York;
Phelps, Of Missouri; Spoulding, Of
New York Corning, of New York !;
Horton, Of Ohio; Ssratton, OF New Jer
sey Hooper, Of Massachusetts, and
Maynard. Of Tennessee.
Mr.. Spaulding in his history Of the
war (Which was suppressed by the gov
ernuent) stated that the bankers de-
manded the exception clause in the
greenback.
And these bankers are the same gen.
tlemen Thad Stevens shed tears over
when he said !: "We had to yield to the
money power or lose the Republic"
1t was this committee of bankers that
shaped the financial policy of our gov
ernment, and which is directly respon-
sible for all the legislation that followed
their visit. As will be noticed our sen.
ior Senator for Ohio, john Sherman
was member Of that Senate committee
and knew and knows all about the
transaction Of those times. These
bankers had everything their own way
until 1875, when Peter Cooper and
others arose to warn the country of its
impending danger, and in 1877 we fiod
that they extend their organization all
over the United States. They held .
meeting in New York September Il
10. and IA, 1877, and after electins
Cnas. Il. Hall, Of the Boston NatioDa
Bank, president. and James Buell., o.
the Importers National Bank of New
York, secretary, and vice president
treasurer, and executive council, they
also elected one or two vice president,
from each State.
The FIRST we hear of them publicly
again is on October 8, when they sent
out these different circulars. One L
the bankers of the country and two tc
the leading newspapers Of the country
These circulars were as follows, and
have had the original IN my possession,
and ! copy them verbatim:
Private and Suggestive)
It is advisable to do all in your power
to sustain such daily and weekly prom.
inent newspapers, especially the relig.
ious and agricultural press, as win
oppose the issuing of greenback paper
money, and that you also withhold
patronage or favors from all applicants
who are not wiling to oppose the
greeback or government issue of paper
money.
JAMES BUELL.. Secretary,
247 Broadway.
The following is taken from the
Chicago Inter. Ocean:
The later Ocean acknowledges the
following singular document which
came TO this Office from New York
Saturday morning:
The American Bankers Association
247 Broadway, room 4, New York,
October 9, 1877.
tStrictly Private
DEAR SIR Please insert the inclosed
printed slip as loaded matter on the
editorial page Of your FIRST issue in
msdiately following the receipt of this
and send marked copy with bill To