>>17866266There followed a series of panics
or bank runs in 1873, 1884, 1890-1, 1893-4, 1897, 1903 and 1907.[124]
These bank runs so incensed President James
Abram Garfield that shortly after he took office on 4 March 1881, he
issued a statement in the middle of June of that year that he intended
to master the problem, when he said the following
“Whosoever controls the volume of money in any country is
absolute master of all industry and commerce... And when you
realize that the entire system is very easily controlled, one way or
another, by a few powerful men at the top, you will not have to
be told how periods of inflation and depression originate”.
Two weeks later Garfield was gunned down by “lone assassin”
Charles J. Guiteau
Guiteau (mentally unstable) claimed “that important men in Europe put him up to the task, and had
promised to protect him if he were caught”