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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... service and industrial corporations are his s jects . Though properly but middlemen , th bankers bestride as masters America's busin world , so ... public service corporations and the formation of industrial trusts , OTHER PEOPLE'S MONEY.
... public service and industrial companies through which our great business operations are conducted the makers of bonds and stocks . They became the directing power in the life insurance companies , and other corporate reservoirs of the ...
... public utility corporations and industrial companies - com- panies with an aggregate capitalization of $ 17 ... service and industrial corporations assures to the investment bankers an ample supply of securities at attract- ive prices ...
... public service , and industrial corporations which the bankers also control . On December 31 , 1912 , the three lead- ing life insurance companies had deposits in banks and trust companies aggregating $ 13,839 , - 189.08 . As the Pujo ...
... public service corporations , and industrial concerns were brought into complete subjection . CHAPTER II HOW THE COMBINERS COMBINE AMONG the allies , OUR FINANCIAL OLIGARCHY 27.