Other People's Money: And how the Bankers Use it"The great monopoly in this country is the money monopoly. So long as that exists, our old variety and freedom and individual energy of development are out of the question. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men, who, even if their actions be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who, necessarily, by every reason of their own limitations, chill and check and destroy genuine economic freedom. This is the greatest question of all; and to this, statesmen must address themselves with an earnest determination to serve the long future and the true hberties of men." The Pujo Committee -- appointed in 1912 -- found: "Far more dangerous than all that has happened to us in the past in the way of ehmination of competition in industry is the control of credit through the domination of these groups over our banks and industries."... "Whether under a different currency system the resources in our banks would be greater or less is comparatively immaterial if they continue to be controlled by a small group."... |
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And how the Bankers Use it Louis Dembitz Brandeis. AND HOW THE BANKERS USE IT BY LOUIS D. BRANDEIS UNIV . OF NEW YORK FREDERICK A. STOKES COMPANY PUBLISHERS F March , 1914 Copyright , 1913 , 1914 , by OTHER PEOPLE'S MONEY.
... York went into the hands of a receiver , Mr. Brandeis came down from Boston , and in a speech at Cooper Union prophesied that that company must fail , Leading bankers in New York and Boston were heartily recommending vi PREFACE.
And how the Bankers Use it Louis Dembitz Brandeis. Leading bankers in New York and Boston were heartily recommending the stock to their customers . Mr. Brandeis made his prophecy merely by analyzing the published figures . How did he win ...
... York bankers . But combination , however intensive , along these lines only , could not have produced the Money Trust - another and more potent factor of combination was added . Third : Investment bankers , like J. P. Morgan & Co ...
... York Stock Ex- change ; but its listings alone comprise about sixteen hundred different issues aggregating about $ 26,500,000,000 , and each year new list- ings are made averaging about two hundred and thirty - three to an amount of ...