Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-02-11
THE NEW YORK NATIONAL
Bank Presidents Conspiracy
Against Industry and
Property.
A History Of the Panic Of 1898; Its Organi-
cation and Methods"

A History Of the Panic Of 1898; Its Organi-
cation and Methods"
The foregoing is the title of work
by j. W. Schuckers, who was private
secretary to Salmon P. Chase, secre-
tary of the treasury, under President
Lincoln during the war period.
This work takes up the history of
that period of financial disaster to all
legitimate industry and to every hon
est business enterprise, starting with
the appointment of Conrad N. Jor-
dan to the Office of sub treasurer in
New York. He was confirmed April
Is, and on the 81 he was in Washing
ton with his bonds, and on the same
day returned to New York, going di-
rectly to the Chase National Bank, Is
Nassau street, where he was met by
Henry w. Cannon, president of that
bank, and twelve other bank presi-
dents, who constitute the national
bank ring" Jordan was sworn into
Office April 90, his first official act
being to summon a meeting of ma
tional bank presidents on the third
floor of the Chase National Bank,
which concluded, Jordan and III. W.
Cannon went to Washington and
were in consultation with Mr.. Cleve-
land, Sunday, April 90, and on the
Oath he was at his desk in the sub
treasury in New York and called an
other meeting of bank presidents to
arrange the details of the "object les.
eon'' the administration was
preparing to visit upon the bust.
ness of the country through the aid
and help of the national banks of
New York. At this meeting all the
national bank presidents of New
York were present as we'll as repre-
resentatives of the great foreign
banking houses, among whom were
August Belmont, representative of
the American business of N. M. Roths-
child & Sons, London, member of
Speyer y Co., of the banking home
OF Speyer Brothers, London, and. j.
Hood Wright of Drexel, Morgan s.
Co., also officers of Trust companies
and loan offices; and among them was
Mr.. Trenholm, former comptroller
OF the currency. The gravity of the
conclusion of this most
extraordinary conclave was such that
special messenger was sent that
night to confer with Mr.. Cleveland.
These meetings were held for the
purpose of getting the voice of the
national and other bankers in and
about Wall street upon proposition
to assail the national industry of ag-
riculture. property and social order
OF the American people, the assault
to be engineered by the national
bank presidents as the swiftest and
surest means of coercing congress to
repeal Internationally the silver law
and to eliminate silver from Ameri-
can mints. The 9th of April was
Columbus day and Carlisle and the
President.were in New York the day
OF great international review, and
at half past four that day Carlisle
and Cleveland met these conspirators
at the private residence of George G..
Williams, president of the Chemical
national bank, where nine national
bank presidents were assembled, and
practical demonstration against the
bulness of the West and South was
decided upon as the means to bring
those sections welded as they were
to the use of silver to consent to the
repeal of the silver law, by giving
them the object lesson of q panic and
the distress that q monetary strin-
gency would bring. Besides Cleve-
land and Carlisle, Conrad N. Jordan
and Charles j. Canda were partici.
pants in this meeting of conspirators
against the public welfare. The mag
azine was now prepared and on the
!, 2, 8, 4 and 5th days of May the con.
federated bankers began carrying
the Infamous program arranged with
the administration into execution.
During the reign of this conspiracy
more than 5000 business firms failed
with losses aggregating nearly $780,
100000, and among the wrecks were
some 600 national and state banks in
the West and South, with deprecla-
ton of nearly one half in the mar
ket price of personal property. Brief
~ this is q partial review Of this
most remarkable book. that charges
and proves conspiracy against the
national banks of New York and the
present national administration.