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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It was a matter of little concern to it that Great Britain had impressed into her service thousands of native born citizens of this country, and compelled them, against their will, to man British guns. The far-reaching influence of this act of Congress, chartering national banks, becomes apparent, when the true principles and functions of Government are considered in all their relations to the people.
By hoarding the legal tender notes received in the 85 ordinary course of business, the banks of New York City were enabled to accumulate many millions of United States notes, and present them for redemption at the sub-treasury; but the plain citizen who could not command fifty dollars of these notes was barred from the benefits of the Resumption Act.
The Secretary of the Treasury, William J.
M.W. Walbert (Author of The Coming Battle)
In substance, this act provided for the incorporation of banking companies, by which not less than five persons could, under certain restrictions, organize a bank, by depositing with the Secretary of the Treasury 54 United States bonds wwalbert secure the circulation of national bank notes as currency. That point was now reached. And such notes shall be received at par in all parts of the United States in payment of taxes, excises, public lands, and all other dues to the United States, except duties on imports, and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.
But the hero of New Orleans was as immovable as the Rock of Gibralter. He saved America then, and he preserved its independence in Many eminent public men are of the opinion that his administration of civil affairs did not tend to the enhancement of his fame.
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The introduction of that resolution and the narrow majority by which it failed of passage, sounded a note of warning to the bank, and it gathered all its energies for the struggle that sooner or later was bound to come. The contents of d famous circular are as follows: Therefore, the fifty millions of demand notes issued under the authority of the acts of July 17th and August 5,having unlimited legal tender power for the payment of all demands, never depreciated a farthing.
It was gold walbrt of the greenbacks by the nation, an inflation of 84 paper money by the banks at a, cost to them of one cent on the dollar. West, wapbert well as East, South, as well as North. He ably maintained the Jeffersonian principles of Government that bank paper should be suppressed. The people are not safe when such a company has such a power.
He was utterly opposed to the Government abdicating its highest sovereign function,- the issuance and control of the currency,- and delegating it to individuals or to corporations for their gain. What cared the walbfrt that hundreds of American merchant vessels were confiscated, in a time of profound peace, by orders of the English government, and that repeated insults had been heaped on this republic by the insolence of British statesmen?
It is three thousand millions added to the available active capital. To add to the general clamor, the bank, through its officials, avowed its purpose to precipitate a panic, and to pull down in ruins the business of the country, should its demands not be concealed.
It was a Government of national banks, for the national banks, and by the national banks.
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In a great case before the highest tribunal of the nation. In compliance with their demands. Public men who were deeply indebted to it openly upheld its conduct. It is little short of half a million dollars a day, Sundays excepted.
At no one time during the history of the national banks did their combined power appear so walberf. Inwhen the Southern states attempted to withdraw from the Union, the result was that great conflict known in history as the civil war. Upon the conclusion of that most righteous conflict, n more perfect union was formed to establish justice, insure domestic tranquillity, provide for the common defense, promote the general welfare, and secure the blessings of liberty for themselves and posterity by the adoption of the Federal constitution.
Consequently the United States over- valued silver when compared with gold. On the 8th day of December,President Jackson, in his first annual message to Congress, announced to that body that he was opposed to the bank, and that he would not favor a renewal of its charter. The form of power which first appeared to oppress and plunder the race, was exemplified in those celebrated conquerors of antiquity, who traversed the earth in their bloody careers, transforming blooming fields and rich and populous cities into deserts, overthrowing whole nations, sacrificing on the battle, fields countless myriad’s of their fellow men – merely satisfy a species of madness dignified by the name of ambition.
This gross outrage upon that nation aroused the s of Swift, and in his “Drapier’s Letters” he attacked the Government with such bitter satire, that, inthe patent to Wood was withdrawn. The brain and wealth of all countries will go to North America. Section 21 of the Bank Act was as follows: We now come to consider a system of national banking, compared with which, the old United States Bank was a pigmy.
In a message to Congress, President Jackson, in speaking of the banking power, said: General Washington was chosen walbwrt first President by a unanimous vote.
The distress and alarm which pervaded and agitated the whole country, when the Rank of the United States waged war upon the people in order to compel them to submit to their demands, cannot yet be forgotten. Alexa Actionable Analytics for the Web.
Against the bank were 1. And to enable the Secretary of the Treasury to prepare and provide for the redemption in this act authorized walberr required, he is authorized to use any surplus revenues from time to time in the 83 treasury not otherwise appropriated, and to issue, sell, and dispose of, at not less than par in coin, either of the description of bonds of the J States described in the act of Congress wallbert July 14,entitled, “An Act to Authorize the Re-funding of the National Debt,’ with like privileges and exemption, to the extent necessary to carry this act into effect, and to use the proceeds thereof for the purpose aforesaid.
During the debate upon the bill as amended, her. It would amount to the self-destruction of a nation.
Parliament, however, granted the scoundrelly Wood an annuity of fifteen thousand dollars per annum for the period of twelve years as an indemnity! Diminish the amount as much as you fairly can and even then you will dwell upon the subject with a deliberation you cannot prevent.
This act also provided that, in lieu of all existing taxes, each association should pay a duty of one per cent per annum upon the average amount of its notes in circulation, and one-half of one per cent per annum upon the average amount of its deposits, and a duty of one-half of one per cent per annum on the average amount of its capital stock beyond the amount invested in United States bonds.
Time and again, he exerted his voice, his pen, and his influence, in warning the people of the consequences that would inevitably flow from such selfish schemes as the transfer of national powers to corporations. While Congress, by its solemn legislative decree, provided for the redemption of United States non-interest legal tender notes in gold, it did not require the national banks to redeem their circulating notes in anywise whatever.
This so-cal led Credit Strengthening Act, by force of its provisions, made every dollar of the bonded debt of the United States payable in gold and silver coin.