INTRODUCTION

This little story, based on fact, represents, though feebly, the relation that exists between the producing classes and the banks of America. The courts, lawyers, and constabulary hold the same relation to the banks they do to the robbers above mentioned. The banks are the great disbursing agencies of the government, and the principal source from which the people obtain loans and discounts. Such being the case they have the power to contract and expand the currency of the nation at will. Any refusal on their part to extend loans to the people or any general refusal to discount notes will produce a general financial panic like the present one (1893), or the dozen or more former ones which have occurred in our nation’s history.

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Tags: Bank Failures, Banking, banking system, Banks, corporate loans, Crash