Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1894-05-24
LAYS 1T TO THE BANKS.

The Wilmington Messengers nc
counts for the panic to its own salts
action. 1t says:
The truth about the panic of 1893
is now known to those outside of the
inner, sacred circle, who manipulated
the movement and set in motion the
cause or CAUSES.
The prestration of the country
the low prices and stagnant trade
preceded the bankers panic move.
ncnt. These were the results of the
high protective tariff under which
the tens of millions of Americans
have been robbed ard injured for the
benefit of nabobs and plutocrats.
But the bankers movement followed
and precipitated financial storm
that came we'll nigh running every.
thing.
But how can such statement be
justified? We answer that the whole
scheme was planned and executed by
bankers. They issued private and
confidential circular. the object of
which was to combine all the banks
to influence. to control legislation.
To this end the circulation was to be
reduced one third, and the other
measures, including the call of IN ex-
ira session of congress to repeal the
purchasing clause. Congressman
were to be manipulated and CONTROL.
ad i'll the interest of the goldbuy
movement, and the country mourns
and groans ut this dry over the sue
cess of their nefarious, dangerous,
wide sweeping plans. Banks sent
part of their money to Washing ton
and took the bonds held there for
their security.
The Referendum, nm Iowa newspa
per, thus discussed the bankers
panic bulletin of March IL, 1898:
In this unrescrved charge we do
do not except the national banks of
Mt. Pleasant. They are part and
parcel of the foul conspiracy to de-
monctize silver, aud did, ut tho com.
mand of the National Bankers Asso.
chiffon, retire large amount of their
circulation to help preeipitate the
panic that was falsely attributed to
an oversul ply of silver. One of
these banks alone sent $4,000 of it's
money to Washington and took up
the oonds held there for its security;
the other bank probably did the snmo
Aud this was done when our bust.
ness men were pleading with them
for money to save them from bank
ruptcy, Offering the best security un.
questioned by the banks. One of
these banks is recognized as demo.
cratic institution, the other as repub
lican, and representative from each
of them went together among on,
business men and prominent citizens.
and solicited them to sign n petition
to congress to repca! The purchase
clause of the Sherman law. They
represented to those they asked to
sign the infamous document that
silver was causing the hard times
and panic, when they. knew it was
fnlse, for with their own hands they
had helped to produce the money
stringency by Withdrawing their cir.
culatinn. They were cons,i atcrs.
and every business firm in Mt. Pleas
ant and every farmer in Henry coun.
ty, every producer aud consumer,
every citizen, in fact, except the taker
of nsury, has these same home banks
to thank for large part of this Ice Il
depression.
The Messenger goes on to say that
there were three circulars Ono was
issued by an agent of the London
capitalists to the New York capital
lists in 1863. 1t was known as the
Hazard Circular" A second one
was issued by New York bankers,
but was not dated 1t is known as
the Banks Circular" The third
was dated March ~, 1898. and was
issued by the Bankers Association
to the national hunks. This was call
ed The Pnnic Circular" These doc
uments did their work They caused
the panic.