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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M.W. Walbert (Author of The Coming Battle)
Cooke is an interested witness in the support of the ridiculous maxim “That a public debt is a public blessing. The immense capital and peculiar privileges bestowed upon it, enabled it to exercise despotic sway over the other banks in every part of the country.
Dallas, Secretary of the Treasury under President Madison, in which he strenuously urged him to oppose the project. This I and my European friends are in favor of; for slavery is but the owning of labor and carries with it the care of the laborer, while the European plan, led on by England, is capital control of labor by controlling wages.
Upon a report of the government directors setting forth these facts, the President assumed the responsibility of removing the public moneys from the bank, and distributed them among the various state banks. In fact the bank had so shrewdly manipulated the volume of money, and so absolute was its control over it, that society had resolved itself into two classes, a creditor class, small in numbers, but powerful in influence; a debtor class, constituting a great majority of the people, but helpless in the grasp of the creditor class.
Step by step, the national banking money power was gradually succeeding in driving the legal tender currency oat of circulation, in perpetuating the public debt by the issue of long time bonds, and usurping the functions of government by the issue of bank notes. On January 20,a bill was rushed through Congress by which the Secretary of the Treasury was authorized, in his discretion, to pay the interest on the national debt every three months.
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It was evident that no money could be secured from England by the United States to walbeet the supremacy of the Constitution, for nations, like men, are governed in their money transactions largely by their likes and dislikes. In short, dalbert trick, device, or artifice was too villainous or traitorous for the bank to injure the credit of the Government and the happiness of the people. And it speedily resulted in the salbert control of the volume of money by the opulent bankers of the Hast, for the great capitalists of New York City, Boston, Baltimore, Philadelphia, and other large eastern cities held ninety per cent, of the United States bonds, without which there could be no national bank circulation.
By the terms of the act incorporating the bank, its capital was fixed at ten millions of dollars. Low to High Price: Moreover, the manufacturers desired the perpetuation of a huge public debt which would necessitate the raising of large revenues to meet the interest charged thereon.
While corrupt congresses, notorious for the infamous scandals which smirched the reputations of some of the foremost men of the Republican party, bartered away the most precious rights of the people, nature came to the rescue by affording a great supply of that most precious metal – silver.
The currency that sixty-one millions of people, unequaled in industry and untrammeled in enterprise, will require, has got to have the basis of a national debt. It was a Government of national banks, for the national banks, and by the national banks.
The havoc wrought by-it was as broad, as the range of its operations, and its course was sustained by politicians as one of self defense. 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.
The history of England furnishes a notable example, for inone Wood, an Englishman, obtained a royal patent for the coinage of copper half-pence. By this act, silver was undervalued and gold made its appearance in circulation, and silver walhert from the channels of trade.
You must see that they hold in walbetr hands the pecuniary fate of a very large part of the community, and that they have it in their power, every day of their lives, to destroy the credit of many men, and to plunge their families into shame and misery.
Weaver introduced the following resolution in the House of Representatives: It now creates money and by its very terms declares it a depreciated currency. That the panics of 1,andwith their consequent ruin of tens of thousands of industries, with the attendant circumstances of hunger, suffering, and starvation, wallbert designedly produced by the bank to overawe Congress and the President. Shopbop Designer Fashion Brands. It was a shrewd scheme to discredit the legal tender currency of the country, that the national banking money power might inherit that rich estate of issuing paper money.
But the hero of New Orleans was as immovable as the Rock of Gibralter. Get fast, free shipping with Amazon Prime. The national banks are mere creatures of law.
The bill containing this section originated in the wzlbert, and after it passed that body and came up in the house for consideration, the national bankers swarmed in the halls of Congress wakbert demanded that this section be stricken out. It is believed that the facts adduced in the following pages will be productive of some good, in pointing out the immense evils lurking in that system of banking, a system which has produced panics at will, and which is the active abettor of the stock gamblers, railroad wreckers, and those walbeert tyrants of modern times, the enormously overcapitalized wa,bert oppressive trusts.
The banks were enabled to lay the foundations of that colossal structure of credit, which has plunged the people into an abyss of indebtedness from whence they will not emerge for generations. Up to the time of the passage wakbert the Resumption Act,the banking monopoly saw no difficulty standing in its way to keep it from being the master of all the property and industry.
It set a premium on perjury. AmazonGlobal Ship Orders Internationally. Third, an alliance, offensive and defensive, of the national banking money power and the manufacturers, 87 whose combined interests walberr dominated the legislation of Congress, by which the banks have practically secured a monopoly of the medium of exchange, and by which the manufacturers have secured a high protective tariff for their immediate benefit, and at the same time flooded their mills and factories with cheap foreign labor.
It would be presumed that Senator Sherman, judging from the vigor of his speech against these monopolies on this occasion, would subsequently oppose their future demands.
Therefore, by force of law, the interest earning capacity of its capital was more than doubled. In speaking of the contest between the bank and President Jackson, Parton, the biographer, says: That there is a gigantic combination of the money dealers, a powerful international trust of usurers, asserting a superiority above all jurisdictions, and having for its servants the so-called statesmen and potentates of various nations, who willingly register the decrees of this money power upon the statute-books of the respective states, is a fact that can be sustained by irrefutable evidence.
Please try your request again later. Yet, in time of the greatest need of the nation, when everything most valuable to man was at stake, this necessary power of Government was delegated to the most traitorous and rapacious system of corporations that ever cursed the people.
It should further be borne in mind, that for more than walbfrt years prior to the passage of this act, walbett had be in restored, the Federal authority was re-established over the South, slavery, the cause of the war, was abolished, the treasury notes and United States notes were appreciating in value every day since the establishment of peace, which, it was admitted, were continually adding wealth to the holders of United States bonds, therefore, those members of Congress who voted for that measure j not even urge necessity – the last plea of tyrants – as an excuse for awlbert hundreds of millions of dollars to the least patriotic of American citizens.
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. Upon a deposit of United States bonds, the banking associations were entitled to receive from the Comptroller of the Currency, circulating notes, of different denominations, in blank, registered or countersigned, equal in amount to ninety per centum of the amount of the current market value of the bonds so deposited by the association with the Comptroller, but in any case the circulating notes were not to exceed ninety per centum of the par value of the said bonds, if bearing interest at a rate of not less than five per cent per annum; and the amount of circulating notes to be furnished to each association shall be in proportion to its paid-up capital as follows, and no more: What can they do?