The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-11-24
A BANK CONSPIRACY.

Most of our readers have heard of
the famous or infamous Buell. Circu-
lar" We printed it some months ago
in this paper. But we have it in an
other shape from the pen Of a man
who has an original copy-Mr. Hugo
Preyer, a we'll known and influential
citizen of Ohio. This gives the history
of the beginning of the present finan-
cial system and some dark hints as to
the methods pursued. OF course there
are honest men in the banking bust
ness, but that does not do away with
the fact that the system started in
1862 is terrible and we are now expert
encing the results in an unmistakable
manner.
Mr.. Preyer writes as follows:
TIE bankers of the United States
formed their first public organ zatiOn
at Washington when they met there
Saturday, January 18th, 1862. The
delegates present were Messrs. COe, of
the Merchants Bank, New York; Mar
tin, of the Ocean Bank, New York;
Gallatin, of the National Bank, New
York; Bates, Bank of Commerce, BOs-
ton; VALLEY, Iron, Bank, Boston; Wal
lace, Merchants Bank, Boston; Rogers,
Tradesmens' Bank, Philadelphia; Mer-
Ger, Farmers Bank, Philadelphia, and
Patterson, Western Bank, Philadel-
phia.
This was the committee appointed
by the bankers association to see the
finance committee of the House and
Senate and shape the financial legisla
ton of the country. When 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
18th, 1862, at Washington andsent for
the Senate finance committee, COM
posed of Mr.. Fessenden, of Maine;
Sommers, Of Rhode Island; John Sher-
man, of Ohio; Howe, of Wisconsin;
Pearce of Maryland; Bright, of Indi-
ana, and DOugal. of California. They
also sent for the House committee,
composed Of the following members:
Thad Stevens, of Pennsylvania; Nor
rill, of New York; Phelps, of Missouri;
Spauldipg, of New York; Corning, of
New York; Horton, of Ohio; StrattOn,
of New Jersey; Hooper, of Massachu
sets, and Maynard, Of Tennessee.
Mr.. Spaulding In lis history of the
war (Which was suppressed by the gov
ernment( 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: 1--WE had to yield to
the money power or lose the Re
public"
1t was this committee of bankers
that shaped the financial policy of our
government, and which is directly re-
spOnsible for all the legislation that fol-
lowed their visit. AS will be noticed
our senior Senator from Ohio, John
Sherman, was a member of that Sen
ate committee and knew and knows all
about the transactions of those times.
These bankers had everything their
own way until 1875, when Peter
Cooper and others arose to warn the
country Of it's impending danger, and
in 1877 we find that they extend their
organization all over the United States.
They held a meeting in New York on
September 18th, 18th and 18TH, 1877,
and after electing Chas. B. Hall, of the
Boston National Bank, president, and
James Buell., of the Importers National
Bank Of New York, secretary, and a
vice-preSident, treasurer, and executive
council, they Also elected one or two
vice presidents from each State.
The first we hear Of them publicly
again is on October 9th, when they
sent out these different circulars. One
to the bankers of the country and two
to the leading newspapers of the coun
try. These circulars were as follows,
and I have the original in my posse s
ciOn OnI 7 0OTNy EINpo vrOrIoEI0o.
To the Bankers:
Private and Suggestive.)
1t is advisable to do all in your
power to sustain such daily and week
ly prominent newspapers, especially
the religious and agricultural press, as
will oppose the issuing of greenback
paper money, and that you also with
hold patronage or faVOrs from all ap-
plicants who are not willing to oppose
the greenback or government issue Of
paper money.
JAMES BUELL., Secretary,
PAT Broadway.
The following is taken from the Chi
cagO Inter- Ocean,:
"The Inter- Ocean acknowledges the
receipt of the following singular docu-
ment which came to this office from
New York, Saturday morning:
The American Bankers Association
247 Broadway, oOm 4, New York, o.
tober 9th, 1877.
Strictly Privately
DEAR SIR:-Please insert the incIosed
printed slip as loaded matter on the
editorial page of your first issue i'm
mediately following the receipt of this
and send marked copy with bill to
yours truly,
JAMES BUELL., Secretary,
247 Broadway, Room 4.
Comments on slip not to exceed
half a column will be paid for, if billed