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 24
... reason than upon the amount of knowl- edge displayed of what actually happens to women when they are overworked - which , while not arithmetic , is built on the same intellectual quality . Nearly two years before Mr. Mellen resigned ...
... reason than upon the amount of knowl- edge displayed of what actually happens to women when they are overworked - which , while not arithmetic , is built on the same intellectual quality . Nearly two years before Mr. Mellen resigned ...
... reason of their own limitations , chill and check and destroy genuine economic freedom . This is the greatest question of all ; and to this , states- men must address themselves with an earnest determination to serve 1 CHAPTER PAGE I ...
... reason that the small investor relies so largely upon the banker's judgment . This confidential relation of the banker to customers — and the knowledge of the customers ' private affairs acquired incidentally— is often a determining ...
... money was considered a sufficient reason for the banker's entering a board of directors . Often without even such excuse the investment banker has secured a place upon the Board of Directors , through his powerful 10 OTHER PEOPLE'S MONEY.