19. Here
Lies Prosperity
Source:
Sound Money (Massillon, OH), August 22, 1895
Creation
of the National Banking System (which the Federal Reserve System replaced in
1913) essentially placed banking and currency policy in the hands of bankers
(especially northeastern and New York bankers).
The "Crime of '73 is explained in the notes to the previous cartoon.
In 1893, Congress repealed the Sherman Silver Purchase Act of 1890 (see Cartoon
26 for an explanation).
Each was believed to contribute to the deflation of the late nineteenth
century.
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