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
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... coöperation - should be substituted for in- dustrial absolutism , there would be no lack of industrial leaders . ENGLAND'S BIG BUSINESS England , too , has big business . But her big business is the Coöperative Wholesale Society , with ...
... coöperative societies scattered over all England ; but each local society is at liberty to buy from the wholesale society , or not , as it chooses ; and they buy only if the Coöperative Wholesale sells at market prices . This the ...
... coöperation ; men who , by conspicuous service in the local societies have won the respect and confidence of their ... Coöperative Wholesale Society of England is the oldest and largest of these institutions . But similar wholesale ...
... Coöperative League , tells in the American Review of Reviews for April , 1913 , how the Swedish Wholesale Society curbed the Sugar Trust ; how it crushed the Margerine Combine ( compelling it to dissolve after having lost 2,300,000 ...
... coöperative alliance which shall become so powerful as to crush the trusts . " " COÖPERATION IN AMERICA America has no Wholesale Coöperative Society able to grapple with the trusts . But it has some very strong retail societies , like ...