3. Bonds required to be issued as a basis for the bank-note circulation.
4. Pressure must be brought upon the people, especially in sections of the country where the free silver sentiment was strong. Circulation to be reduced, loans called in, credit refused and general distrust spread broadcast through the land.
5. Demand for an extra session of Congress to repeal the purchasing clause of the Sherman law.
This was the program laid down by the Bulletin. Did it agree with the action of the National Bankers? We shall see.
On the 11th of April, 1893, Grover Cleveland appointed Conrad C. Jordan to be Assistant Treasurer of the United States.
In this capacity Jordan had control of the Sub-Treasury at New York. The Sub-Treasury is the great business establishment of the Federal Government. It is one of the associated banks of New York City.
Jordan was a banker, the President of the Western National, of New York City, and was recommended for the position by the New York National Bank Presidents. He was the go-between—the link which connected the National Bankers with Cleveland and the Federal Government.
His nomination was confirmed on the 15th day of April, and on the 20th he was in Washington with his bond and conferring with Cleveland.
From that hour things moved with wonderful rapidity.
Jordan left Washington on the 21st, arrived in New York at 5.30 in the afternoon, went directly to the Chase National Bank, No. 15 Nassau Street, where he met Henry W. Cannon, President of the Chase National Bank, and J. Edward Simmons, President of the Fourth National, two of the most active and influential of those who controlled the associated banks and who constitute the “New York National Bank Ring.”