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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... Massachusetts , it was by being able to figure what insurance ought to cost . When he made the best contract between a city and a public utility that exists in this country , a definite grasp of the gas business was necessary - com ...
... Massachusetts , it was by being able to figure what insurance ought to cost . When he made the best contract between a city and a public utility that exists in this country , a definite grasp of the gas business was necessary - com ...
... Massachusetts more than a genera- tion ago designed to curb financial concentra- tion through the savings banks . Of the great wealth of Massachusetts a large part is repre- sented by deposits in its savings banks . These deposits are ...
... Massachusetts or New York , of Boston , Philadelphia or Baltimore and of scores of lesser American cities , are safe investments . The basic financial facts in regard to such bonds are a part of the common knowledge of many American ...
... Massachusetts cities and towns have averaged recently about $ 15,000,000 a year , and those of the state about $ 3,000,000 . The 194 Massachusetts savings banks , with aggregate assets of $ 902,105,755.94 , held on October 31 , 1912 ...