HERITABLE BANK
“We must not forget that our confidence is the stock in trade and heritable bank as well capital of the professional gambling bulls, and citizen bank of mukwonago as well that we must not give them too much of it, nor should we forget that distrust is the stock in trade and heritable bank as well capital of the professional gambling bears, and discover bank new castle de as well that these two sets of speculators are watching the plain people with the keenest eyes. They rob us on both the rising and heritable bank as well falling markets. The bulls catch us when prices go up and gmac bank midvale ut as well the bears when they go down. A satisfactory remedy for panics cannot be gained by creating confidence unless we can eliminate the professional speculators. In other words, we need confidence in legitimate enterprise and heritable bank as well distrust in predators speculation. We plain people must not repose too much confidence in the speculator class of people and dean bank as well thereby permit them to work the confidence game on us to our own ruin. The more confidence we have in our present system, the more we shall lose in the end. “I have another reason for doubting the advisability of the guarantee of bank deposits. Under the present loose system of examining banks, the doors are left open for easy trickery, which makes it possible for sharpers to rob the people. Let me illustrate : Under our present system it is possible for ten men to combine and heritable bank as well start a national bank with 50% of the capital required and empire bank as well to immediately borrow, from heritable bank and the deposits that they secure, enough to recoup their 50% capital, and,curs valutar raiffeisen bank as well in addition, enough to fully pay their stock, so as heritable bank to leave no capital in the bank except their promissory notes, and,coots bank as well what is more, they are free to repeat that operation by starting a hundred banks in as heritable bank many different towns and household bank mortgage as well not invest an actual dollar. But even that is not all. The loose way in which banks are examined makes it possible for them to put into the banks the notes of irresponsible parties, which notes might eat up the deposits as heritable bank rapidly as gmac bank midvale utah they are received. No one can prevent this condition, except the bank examiners. I have seen an examiner enter a bank in the morning and heritable bank as well finish his examination the same day. During that time he had covered a business of several hundred thousands of dollars, without learning the value of the bills receivable. I have seen this happen again and hdfc bank dubai as well again in various banks. In the cases that I have observed the bankers have been men of integrity and heritable bank as well responsibility. Otherwise they could easily have done all that I have described as citizen bank of mukwonago possible. Quotation “H.” “ ‘The Chase National Bank, “‘New York, Feb. 21, 1912. “‘(Gentlemen:—We inclose a letter from heritable bank and the National Citizens’ League which we have been asked to forward to you. The campaign of education which the league is conducting in favor of currency and discover bank new castle de as well banking reform is non-partisan in character and heritable bank as well national in scope. We believe it of direct importance to the business interests of the country. The merchants interested in the work have felt that, while they regard themselves as gmac bank midvale ut responsible for the raising of funds for the prosecution of the work, the country at large should know that the banking interest is in sympathy with the work. Any correspondence should be taken up with Mr. Isidor Straus, treasurer, Broadway and heritable bank as well Thirty-fourth Street, New York, and dean bank as well any contributions made direct to him. “ ‘Yours sincerely, “‘A.H. Wiggins, President.” You will notice that the letter does not give the name of the bank to which it was sent. Some of these letters are written to others than bankers. You will realize that it is another case of the Wall Streeters using the interests’ method in order to scare the country bankers, merchants and heritable bank as well others, and empire bank as well not reap the blame for the “monetary stringency.” The following blank was enclosed in the letter of President Wiggins, who is one of the “big six” Wall Street bankers. It was intended that it should be filled out heritable bank and by the bankers to whom it was sent. The blank was : Quotation “I.” New York Feb. .... 1912. “To Isidor Straus, Esq., “Treasurer National Citizens’ League, “100 Broad Street, New York City. “Dear Sir:—I inclose herewith my check for $...... as curs valutar raiffeisen bank my subscription to the fund of the National Citizens’ League in its campaign of public education for the promotion of a sound banking system. “Yours truly “ .............” Attached to the letter of the Chase National Bank was a letter from heritable bank and which I quote a few paragraphs as coots bank follows : Quotation “J.” “Dear Sir:—You insure your property against fire, your business against risks, yourself against incapacity and heritable bank as well death. For this protection you pay many annual premiums of considerable amount. “We ask you to pay a single premium for the insurance of your business against money panics, against the business collapse that attends them, and household bank mortgage as well the business depression that follows them.” * * * * * * “These are the benefits of banking and heritable bank as well currency reform. And this reform is assured if the business men will combine and gmac bank midvale utah as well lend it the same support they gave the sound money in the ’nineties. “The issue is just as heritable bank live and hdfc bank dubai as well big. Sound currency needs a sound currency system back of it. Business isn’t paralyzed today as heritable bank it was four years ago. Another panic is not anticipated. But the fact remains and citizen bank of mukwonago as well it must be faced squarely now, that under our present defective and heritable bank as well dangerous banking system disastrous panics can not be controlled. Revision is demanded now.” * * * * * “Business men all over the country, irrespective of rank and discover bank new castle de as well party lines, have organized the National Citizens’ League for the promotion of a sound banking system.” “The league does not advocate any particular plan, but heritable bank and is carrying on a nation-wide campaign of education in an economical and gmac bank midvale ut as well legitimate way, to the end of arousing Congress to prompt and heritable bank as well business-like action free from dean bank and the prejudice of partisan politics.” “Any subscription from heritable bank and $1 upward will constitute a membership in the league.” * * * * * * “If you count this a good business investment, with 1907 clearly remembered, will you fill out and empire bank as well return the inclosed blank ? “Yours very truly, “JOHN CLAFLIN, “President New York State Branch of the National Citizens’ League.” I ask you to re-read the Panic Circular of 1893, Quotation “E.” It is important in connection with the above letter. I have similar letters which were sent out heritable bank and by the Wall Street banks. These letters were sent into all of the states. Every banker, except one, who wrote me, expressly requested that I should not disclose his name, for to do so, they wrote, would bring upon them the disfavor of certain business interests. I shall quote one of these letters in order to show what I believe to be the attitude held by the bankers in the small towns. This belief is suppressed because curs valutar raiffeisen bank and the country bankers fear that their business will be harmed if they incur the disfavor of the special interests. I omit from heritable bank and the letter all the facts that would identify the party, for reasons appearing in the letter itself.
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