SEPTEMBER 1, 1894 – DATE AMERICAN BANKERS ASSOCIATION CALLS ON BANKS TO STOP LOANING MONEY TO CAUSE FORECLOSURES

1894 – DATE AMERICAN BANKERS ASSOCIATION CALLS ON BANKS TO STOP LOANING MONEY TO CAUSE FORECLOSURES
American Bankers Association memo  (as submitted in the Congressional Record): “On September 1, 1894, we will not renew our loans under any consideration. On September 1st we will demand our money. We will foreclose and become mortgagers in possession.  We can take two-thirds of the farms west of the Mississippi, and thousands of them east of the Mississippi as well, at our own price... Then the farmers will become tenants as in England..."