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Old 10-30-2010, 01:49 AM   #1
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Rothschild and the banking fraternity

London, June 25th. 1863.

Messrs. Ikleheimer, Morton and Vandergould,
No. 3 Wall Street, New York, U.S.A.

DEAR SIRS: A Mr. John Sherman has written us from a town in Ohio, U.S.A., as to the profits that may be made in the National Banking business under a recent act of your Congress, a copy of which act accompanied his letter. Apparently this act has been drawn upon the plan formulated here last summer by the British Bankers' Association and by that Association recommended to our American friends as one that if enacted into law, would prove highly profitable to the banking fraternity throughout the world.

Mr. Sherman declares that there has never before been such an opportunity for capitalists to accumulate money, as that presented by this act and that the old plan, of State Banks is so unpopular, that the new scheme will, by mere contrast, be most favorably regarded, notwithstanding the fact that it gives the National Banks an almost absolute control of the National finances. "The few who can understand the system," he says, "will either be so interested in its profits, or so dependent on its favors, that there will be no opposition from that class, while on the other hand, the great body of the people, mentally incapable of comprehending the tremendous advantages that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests."

Please advise us fully as to this matter, and also, state whether or not you will be of assistance to us, if we conclude to establish a National Bank in the City of New York. If you are acquainted with Mr. Sherman (he appears to have introduced the National Banking act), we will be glad to know something of him. If we avail ourselves of the information he furnished, we will of course make due compensation.

Awaiting your reply, we are,
Your Respectful Servants,


Private Bankers, Dealers and Brokers in Stocks and Bonds and Gold, and American Agents for the Investment of English Capital.
Number 3, Wall Street
New York July 5th. 1863.

Messrs. Rothschild Brothers,
London, England.

"DEAR SIRS: We beg leave to acknowledge the receipt of your letter of June 25th, in which you refer to a communication received from the Hon. John Sherman of Ohio, with reference to the advantages and profits of an American investment, under the provisions of our National Banking Act.

The fact that Mr. Sherman speaks well of such an investment, or of any similar one, is certainly not without weight, for that gentleman possesses in a marked degree, the distinguishing characteristics of the successful modern financier. His temperament is such that whatever his feelings may be they never cause him to lose sight of the main chance. He is young, shrewd and ambitious. He has fixed his eye upon the presidency of the United States, and is already a member of Congress. He rightly thinks he has everything to gain both politically and financially (he has financial ambitions too), by being friendly with men and institutions having large financial resources, and which at times, are not too particular in their methods, either of obtaining governmental aid, or protecting themselves against unfriendly legislation. We trust him here implicitly. His intellect and ambition combine to make him exceedingly valuable to us. Indeed, we predict that if his life be spared, he will prove to be the best friend the monied interests of the world have ever had in America.

As to the organization of a National Bank here, and the nature and profits of such an investment, we beg leave to refer to our printed circular enclosed herein. Inquiries by European capitalists, concerning this matter, have been so numerous, that for convenience we have had our views with regard to it put into printed form.

Should you determine to organize a bank in this city, we shall be glad to aid you. We can easily find financial friends to make a satisfactory directory, and to fill any official positions not taken by the personal representatives you will send over.

Your most obedient servants,

Dishonest Money - Vindication ref

"Let us control the money of a country, and we care not who makes its laws"
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