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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... merely by analyzing the published figures . How did he win in the Pinchot - Glavis - Ballinger controversy ? In various ways , no doubt ; but perhaps the most critical step was when he calculated just how long it would take a fast ...
... merely by analyzing the published figures . How did he win in the Pinchot - Glavis - Ballinger controversy ? In various ways , no doubt ; but perhaps the most critical step was when he calculated just how long it would take a fast ...
... merely distorted its judgment and silenced its conscience . For a while he trampled with impunity on laws human and divine ; but , as he was obsessed with the delusion that two and two make five , he fell , at last , a victim to the ...
... merely to deal in securities . ! They desired to manufacture them also . They became promoters , or allied themselves with promoters . Thus it was that J. P. Morgan & 2 Company formed the Steel Trust , the Harvester Trust OUR FINANCIAL ...
... mere directorships , J. P. Morgan & Co. , and their associates , held such financial power in at least thirty - two transportation systems , public utility corporations and industrial companies - com- panies with an aggregate ...