The following letter was sent from the Rothschild investment house located in London to a banking firm in New York City: Rothschild Brothers, Bankers, London, June 25th, 1863 Messrs. Ikleheimer, Morton, and Vandergould, No. 3 Wall St., New York, U.S.A. Dear Sir: 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 the 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 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 contrast, be most favorably regarded, notwithstanding the fact that it gives the National Banks an almost absolute control of the National finance. “The few who can understand the system,” he says, “Will either be so interested in its profits, or so dependent of its favors that there will be no opposition from that class, while on the other hand, the great body of 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 interest.” Please advise 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 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, Rothschild Brothers
Posted on: Mon, 20 Jan 2014 21:07:27 +0000
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