In 1867 a great international exposition was held to which the nations of the world were invited by the Emperor of France. This led to a huge conspiracy to manipulate and eventually remove silver as a standard for the dollar.Īn act of Mahad provided that the Secretary of the Treasury issue gold and silver certificates. It was easier to use in most, smaller transactions and therefore the rising supply of silver in circulation was a direct threat to the banking cartel. Silver was more like the common man’s gold. The whole annual product of gold mines in the United States would scarcely suffice to pay one half of the annual interest charge upon the national debt held by the national banking money power.” (4) The production of gold that same year was $51,725,000.Īt this period the national debt had reached the enormous sum of $2,700,000,000, the interest of which was payable in coin. In 1867, silver to the amount of $13,500,000 was produced from the mines of the west – chiefly in Nevada. In 1863, the value of the product of silver had risen to $8,500,000. In the same year the production of gold in California alone was $45,000,000 in value. In 1860 the production of silver had risen to $150,000, which, up to this period, was the greatest amount ever produced in the United States in any one year. In the year 1859, that great deposit of silver, was discovered in Nevada, and from this period the United States is reckoned among the greatest producers of silver in the world. The total product of gold from the mines of the United States, from 1848 to 1861, inclusive, reached the grand total of $700,000,000. The greatest amount of gold produced from American mines in any one year was in 1853, when it reached the enormous sum of $65,000,000. “Prior to 1861, the annual production of silver in the United States never exceeded the value of $100,000, on the other hand, the amount of gold produced in the mines of California, from 1848 to the outbreak of the war, amounted to hundreds of millions of dollars. Quoting from The Coming Battle, Walbert writes: These were Treasury issues, not the borrowed credit of bankers. The act of Macreated the gold and silver certificates which were fully redeemable in either gold or silver at any time. Congress had reduced the amount of gold and silver in the coins so that American metals would not be exported to foreign countries, because they would not meet international weights and measures. Since the coinage laws in the Constitution explicitly gave Congress alone the power to coin money, this was the last block the bankers needed to remove by legislation. This was the next stage in the banker’s war on America, the removal of silver and eventually gold as well, from the United States money supply. On February 12, 1873, the Coinage Act was passed which demonetized silver, by removing the silver dollar as a unit of account. " On February 12, 1873, the Coinage Act was passed which demonetized silver, by removing the silver dollar as a unit of account.
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