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."... |
From inside the book
Results 1-5 of 21
... person who fights against any odds while it is necessary to fight and stops fighting as soon as the fight is won . For a long time very respectable and honest leaders of finance said that his charges against the New Haven were unsound ...
... person who set forth effectively the doctrine that there is a limit to the size of greatest efficiency , and the successful demon- stration of that truth is a profound contribu- tion to the subject of trusts . The demonstration is ...
... persons . It was by processes such as these that Cæsar Augustus became master of Rome . The makers of our own Constitution had in mind like dangers to our political liberty when they provided so carefully for the separation of ...
... persons holding similar positions in an unincorporated association , or in a private trust estate , who are called specifically by that name . The Courts have recognized this fully . Thus , the Court of Appeals of New York de- clared in ...
... persons , they were its agents ; but as to the corporation itself equity holds them liable as trustees . While courts of law generally treat the directors as agents , courts of equity treat them as trustees , and hold them to a strict ...