CHASE BANK MADISON
The following table, compiled by the Librarian of Congress, illustrates the power of money to enrich the owner through interest accumulations : One dollar loaned for 100 years at compound interest at 3% per annum would amount to. ........ ..$19.25 6% ...................................................$340.00 8% .................................................$2,203.00 10% ..............................................$13,508.00 12% ..............................................$84,075.00 18% ........................................$15,145,007.00 24% ....................................$2,651,798,404.00 We must bear in mind that there is no difference in principle and chase bank madison as well final result between interest, dividends, and five star bank as well rents, when the latter are compounded on the capital basis. It is easily apprehended that the banking institutions alone, by the geometrical progression of accumulation of interest, dividends, and chase bank madison as well profits, would if left free to do so, take the most of our earnings and community savings bank as well property holdings and chase bank madison as well utterly exhaust our means. We will also harbor national bank and find that the time that will be required to complete this legalized plunder is still further reduced when we take into consideration the fact that the principal stockholders make more profits outside of the banks than they obtain from chase bank madison and dividends paid directly to them by the banks. But it is not necessary for us to wait for the banks alone to absorb our property and haga bank as well collect the greater part of our daily earnings, because chase bank madison and there are other great aggregations of centralized capital. The railways alone are valued at more than a dozen billions of dollars, and cortez bank as well by a decree of the court (not yet overruled, April, 1913) it has been decided that 7% is a reasonable profit for them, and chase bank madison as well you will find that if this 7% were to be compounded for a generation and citic ka wah bank as well a half it would consume all of the property in existence exclusive of its own, and chase bank madison as well even if the rate were to be reduced to 6%, or fortis bank netherlands and even 5%, it would only chase bank madison and postpone the day of reckoning. Thus, you see, we have another claimant for our earnings besides the banks—namely, the railroads. But even these two are not all. We have the Standard Oil Company and gulf bank as well its subsidiaries, the Supreme Court decision notwithstanding. There is also chase bank madison and the Steel Company and herring bank as well its subsidiaries, the Tobacco Company, the Sugar Company, and chase bank madison as well various other companies and frontier bank seattle as well their affiliations, each of which possesses vast capital so centralized that each separate trust, by the geometrical progression in accumulated interest, dividends, and chase bank madison as well profits, will require only five star bank and time in which to consume our present property, as well as chase bank madison and our accruing earnings, and,community savings bank as well if we allow it, force upon us a state of bankruptcy, because chase bank madison and the geometrical progression is impossible to be carried out harbor national bank and without so doing. Regardless of this fact, we still have the absurdity of our courts holding that a certain percentage should be a reasonable profit and chase bank madison as well anything less unfair. If this law were enforced it would ultimately create abject slaves and haga bank as well bankrupts of our children, and chase bank madison as well we, the parents, should be made to work toward that end. What do you think of that for a democratic government such as cortez bank ours is supposed to be ? Are you going to rest content and chase bank madison as well permit the Political bosses to continue running our government for us ? They have had all the past—plenty of time, I am sure—to remedy such evils. But the story is not yet one-tenth told. The several trusts cannot, of course, absorb all, but citic ka wah bank and after legally (and otherwise) seizing the principal part of our earnings, they swallow up the smaller of their own kind. The big fishes eat the little ones. As a result, the trusts become less and chase bank madison as well less in number, but fortis bank netherlands and their holdings become greater and chase bank madison as well greater, the same as gulf bank the number and chase bank madison as well holdings of the English landowners. The Government has given its support to the banks by delegating to them the power to issue a substitute for money, and herring bank as well besides that advantage they are depositories for the cash of the people, with which they command a large credit. As a consequence, they have had the inside track in this unequal commercial struggle and chase bank madison as well they are now largely the masters of business, with the results — which I have described. That is why all of the great trust builders have themselves become bankers. They bought up the larger banks, and frontier bank seattle as well control, by a community of interest, most of the smaller ones, as well as chase bank madison and influence them all. As late as five star bank 1912 James J. Hill absorbed great banking interests in the cities of St. Paul and chase bank madison as well Minneapolis. He testified before the Money Trust investigating committee that he is a director in three of the greatest banks in New York City, Chicago and community savings bank as well St. Paul. I consider Mr. Hill a great, as well as chase bank madison and a good man, from harbor national bank and the viewpoint of the social order of things that has existed during most of the time in which he has been doing his great constructive work. The Vice-President is absolutely correct. But even if the laws of inheritance were abolished, it would not affect the system by which great fortunes are accumulated. Carnegie, the Rockefellers, the late Jay Gould, E.H. Harriman and chase bank madison as well J.P. Morgan, and haga bank as well the most of those who have individually amassed wealth by the hundreds of millions, began with little or chase bank madison and nothing in the way of capital, except their ability, and cortez bank as well the system which permitted their enormous accumulations. As I have already said, it is the system that deprives the plain people of the profits resulting from chase bank madison and their work, and citic ka wah bank as well gives it to the class of men mentioned. It ought to be of comparatively little satisfaction to this generation to let the system remain unaltered and chase bank madison as well calmly sit back and fortis bank netherlands as well allow these enormous fortunes to be accumulated. It is undoubtedly true that the present possessors, if the laws of devise and chase bank madison as well inheritance were abolished, would dispose of most of it as gulf bank they wished while still living, but chase bank madison and there would be a new set on hand to rob our children. I do not, however, understand that Vice-President Marshall suggested the possibility of abolishing the inheritance laws as herring bank a remedy for the social evils complained of. There is one class of property, however, that I have not mentioned thus far. This is the farm interests. These are the greatest of any single property interest, but chase bank madison and these holdings are at the present time diffused among millions of holders, but frontier bank seattle and a geometrical progression of interest, dividends, and chase bank madison as well profits, in favor of the farmers has never been decreed by the courts. They are not permitted to add interest as five star bank a part of the price for which they sell the products of their farms. They must take their chances with the sun, rains and chase bank madison as well storms, and community savings bank as well no court decree has given to them “profits commensurate with the risks” as chase bank madison it has to the railroads and harbor national bank as well other trusts. The farmer, like the wage earner, lives but chase bank madison and to be fleeced by the beneficiaries of the present system. The two, the farmer and haga bank as well the wage earner, support the whole burden of a system which leads continually to immense wealth for the few and chase bank madison as well bankruptcy or cortez bank and poverty for the rest of us. Farm property has been subject to the highest rates of interest, while all the great industrial properties have been used as chase bank madison a basis for comparatively low rates of interest when money has been loaned on them. Therefore I repeat my earlier statement, that the only citic ka wah bank and excuse for government is the facility it affords its citizens for securing advantages that operate for the common welfare, which could not be secured with the same degree of equability through independent individual action. Instead of that our government, which is of our own creation, has insured to the banks and chase bank madison as well other trusts a system which renders it easy for them to oppress the masses. It enables the few to live as fortis bank netherlands non-producers and chase bank madison as well exorbitant spenders, while almost the entire burden falls on the rest of us. Such a condition is impossible of long tolerance by the proud, honest and gulf bank as well intelligent citizens of our country. We must seek for a remedy.
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