Nicholson

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  • ID: I4240
  • Name: James GALLATIN
  • Surname: Gallatin
  • Given Name: James
  • Sex: M
  • Birth: 18 Dec 1796 in New York, New York
  • Death: 28 May 1876 in Paris, France
  • Burial: 1876 Trinity Church, New York Cityt
  • _UID: D0A98F6F9731D5118680EF90A100BA0B1093
  • Note:
    1. 1850 New York Census

    President of Bank

    New York City

    James Gallatin 55 President of Bank b. NY
    Josephine " 49 b. NY
    Albert " 25
    Andrew " 24

    2. In 1860, he was the leader of The Associated Banks of New York. He was an adversary of President Abraham Lincoln's economic programs.

    1860 New York Census

    New York City

    Hotel

    Jas Gallatin 60 Banker
    Martha " 46

    3. "Ancestry of Albert Gallatin and Hannah Nicholson with a list of their Descendants to the Second and Third Generation". [Compliled from "Life of Albert Gallatin" by Henry Adams (1879), "History of Nicholson Family" by Byam Kerby Stevens (1911) and other sources - Revised by William Plum Bacon. New York, Press of T.A. Wright, 1916

    4. http://64.233.161.104/search?q=cache:UmfeGaU7W0gJ:members.tripod.com/~american_almanac/lincoln3.htm+%22james+gallatin%22++bank+president&hl=en

    Abraham Lincoln's "Bank War"
    by Anton Chaitkin
    Printed in the Executive Intelligence Review, May 30, 1986

    Lincoln, the respected political leader of the Henry Clay tradition, was elected President in 1860, prompting the anti- nationalists to launch secession and civil war. It was a two-front war, militarily in the South...and politically against the London-allied Northern bankers, only recently the main brokers of slave cotton. The Associated Banks of New York were led by James Gallatin, a resident of Switzerland and the son of Albert Gallatin.

    On Dec. 28, 1861, the New York banks suspended payment of gold owed to their depositors, and stopped transferring to the government the gold which they had pledged for the purchase of government bonds. The banks of other cities immediately followed suit.

    James Gallatin headed a delegation of bankers who came to Washington to meet with the administration and Congress. His program contradicted the President's. First, the Treasury must deposit its gold in private banks, and let those banks pay the government's suppliers with checks, keeping the gold on deposit for the investment use of the bankers. Second, the government should sell high-interest bonds to these same banks, for them to resell to the European banking syndicate. Finally, a great deal of the war should be financed by a tax on basic industry.

    Gallatin was shown the door. While Lincoln fought the Eastern bankers over the national banking system, the Treasury issued several hundred millions of the new green-colored currency. Banker Jay Cooke was hired to sell small government bonds to the average citizens; with 2,500 sub-agents Cooke sold over $1.3 billion worth of bonds from 1862 to 1865. President Lincoln pushed for his measure of control over the banking system, using more of his influence in Congress than on any other issue. The New England and New York bankers instructed their congressmen, such as New York's cynical Sen. Roscoe Conkling, to defeat the bill. But Lincoln's prestige and authority won out, and he signed the National Currency Act on Feb. 25, 1863, and the National Bank Act on June 3, 1864.

    5. http://www.schillerinstitute.org/fid_97-01/fid_981_lincoln.html

    The Schiller Institute

    The Lincoln Revolution
    by Anton Chaitkin

    James Gallatin, the smugly aristocratic son of Albert Gallatin and lifelong associate of the British Crown financiers, headed a delegation of New York bankers who came to Washington to meet with the administration and Congress. His program contradicted the President's. First, the Treasury must deposit its gold in private banks, and let those banks pay the government's suppliers with checks, keeping the gold on deposit for the investment use of the bankers. Second, the government should sell high-interest bonds to these same banks, for them to resell to the European banking syndicate. Finally, the war should be financed by a heavy tax on basic industry.
    Gallatin was shown the door. Lincoln had no choice but to defy London and Wall Street or lose the country. As James Blaine wrote,25 British bankers such as the Rothschilds would not touch our securities. Confederate bonds were more popular in England than those of the U.S. government. Blaine called the Civil War a three-fold contest: military versus the Confederates, diplomatic and moral versus the British and French governments, and financial versus the money power of Europe.

    6. New York Herald-Tribune obituary with biographical information
  • Change Date: 16 Jul 2011 at 15:15:08



    Father: Albert GALLATIN b: 29 Jan 1761 in Geneva, Switzerland
    Mother: Hannah NICHOLSON b: 11 Sep 1766 in New York, New York

    Marriage 1 Josephine Mary PASCAULT b: 1801 in New York
    • Married: Mar 1824 in Baltimore, Maryland
    • Note:
      1. "Ancestry of Albert Gallatin and Hannah Nicholson with a list of their Descendants to the Second and Third Generation". [Compliled from "Life of Albert Gallatin" by Henry Adams (1879), "History of Nicholson Family" by Byam Kerby Stevens (1911) and other sources - Revised by William Plum Bacon. New York, Press of T.A. Wright, 1916

      2. James Gallatin found in:
      Marriage Index: Maryland, 1655-1850
      Married: Apr. 22, 1824 in: Baltimore Co., MD Record type: This is a county court record. Gender: M More about: This record can be found at the Family History Library, Salt Lake City, UT, Film # 0013693-0013694. Spouse name: Pascault, Josephine Mary Spouse gender: F

      3. Records of St. Paul's Parish, Vol. II, Parish Registers, Page 139

    Children
    1. Has Children Albert GALLATIN b: 7 Feb 1825 in Baltimore, Maryland
    2. Has No Children Andrew GALLATIN b: 1826 in New York
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