From CGI member oldmaninthedesert:

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Continuing with Pandora's Box..

[....In 1893 a panic, which was engineered by the Railroad Bankers, was in progress. The gold reserve in the U. S. Treasury held only $80 million, far too little for the United States to go on redeeming currency in gold. President Cleveland called a special session of Congress in Aug. 1893. To repeal the Silver Purchase Act that was depleting the reserve. He was hotly opposed by the silver contingent of his own party. The Act was repealed, but no legislation was made to protect the reserve in any other way.

People began to hoard gold. Business' failed and banks crashed everywhere. National bank deposits fell $378 million. The silver dollar dropped from $.67 to $.60 in value; the western silver mines shut down. By winter (1893-94) everything was worse. Thousands were jobless: hundreds starved. Coxey's Army, a spectacular horde of the unemployed, marched to Washington to plead redress. They arrived in front of the White House May 1, 1894, but all the government could do was arrest them for walking on the grass!

Workers in the Pullman Car Co., Chicago, struck in protest against cut wages. The strike spread to 27 states and involved 23 railroads. Railroad property, cars and buildings, were burned, trains were stopped, the mails obstructed. True history has probably been covered up. The people of this era possibly knew who was behind the control of money and were rebelling. Gov. Altgeld of Illinois, who sympathized with the strikers, would do nothing. But President Cleveland sent Federal troops to quell the agitation and keep the mail moving. The U.S. Supreme Court, by injunction, forbade interference with the movement of trains. There was bloodshed and war between the troops and the strikers. Peace was restored by the end of July 1894. But Cleveland's interference cost him the support of organized labor and its sympathizers.

The whole 1893-94 panic and everything was planned so that the Payseur family, acting on behalf of the Virginia Company, could at last take total control of every railroad and railroad banking concern in this county. Remember the family held the financial notes for construction of the railroads, rails, rolling stock etc. They had taken the congressionally granted railroad land grant patents as collateral for the debt the railroad company owed the Payseur banks of New York for building the railroads. By orchestrating a financial crash in this county the railroads could not pay their notes and all railroad companies were seized by the banks in foreclosure. The Payseurs became the absolute owner and then they turned around and J. P. Morgan. L. C Payseurs' head trustee, created a plan to lease all the railroad companies out to operating companies in the form of the Southern Railroad Lease of 1894.

https://exploringrealhistory.blogspot.com/2019/01/part-12-pandoras-boxfederal-trade.html