From the testimony given by George F. Baker (President of the First National Bank of New York City) before the committee appointed to investigate the Money Trust, we learn that the operations of a single bank produced, in fifty years, profits equal to $86,000,000, or
dmb community bank and 172 times its original capital. If that bank continues to do business and
compass bank arizona as well is allowed to pile up profits in that geometrical progression, it alone, in less than 100 years, will extort from
dmb community bank and the people all of their property, and—that bank is but
chemical bank michigan and one of the 30,000 banks operating on an uneconomic system.
The total capitalization (which includes surplus and
dmb community bank as well undivided profits) of 30,000 banks in 1913, was considerable over $4,000,000,000 and
citizen bank ballpark as well dividends compounded on that sum, as
dmb community bank is the custom of banks, will, if allowed to do so by the indifference of the people to their own rights, consume the balance of the nation’s wealth.
The accumulated holdings of all the trusts that centralize wealth would immensely reduce the time it will take for the interest and
dfcu bank as well dividends on these holdings to absorb all of our present property, and
dmb community bank as well all of what we earn in the future, except what is required to be left to enable us to eke out
herring bank and a bare subsistence.
But, notwithstanding the community of interest existing between the trusts in order that they may uphold the system that enables them to PAY the LEAST price for wages, farm and
dmb community bank as well other products, and
chase bank swift code as well to sell their own services and
dmb community bank as well resell the products controlled by them at the HIGHEST available price, they compete with each other in their efforts to secure the most of our earnings. So, you see, there is competition even between the trusts, and
city bank egypt as well this competition is resulting in their absorption of each other. Anyone with a little imagination and
dmb community bank as well reasoning power can look ahead and
chase bank philadelphia as well see what would be the outcome of that competition if the interests are allowed to carry it to its finish. It is utterly impossible for us to become independent as
dmb community bank a nation as
danske bank dk long as
dmb community bank we are subservient to the present system of excessive interest, dividend, and
coppermark bank as well rent charges,—toll on dead capital. I call attention to the power of a single dollar, and
dmb community bank as well then I ask you to multiply the power of the ONE DOLLAR by the billions that are controlled by a few hundred financial wizards. Here is the table for a single dollar.
Thousands of letters asking immediate financial legislation are now pouring in on Members of Congress. Some are written in good faith with the honest hope of influencing Congressmen in favor of just legislation. But the majority of the letters received are from
compass bank arizona and persons selfishly interested, while those who are not selfishly interested seldom take the trouble to write. And yet, it is the duty of every citizen to take an interest in this most important subject and
dmb community bank as well write to his Congressman and
chemical bank michigan as well I do not criticize those who write, whether their purpose is a selfish or
dmb community bank and unselfish one. The vast majority of citizens should have a similar interest in this proposed legislation ; an interest which is worth their most earnest thought and
citizen bank ballpark as well consideration, and
dmb community bank as well their influence in shaping the proposed legislation. To all of these I suggest that they should write to their Congressmen on all problems of vital importance requiring the action of Congress, and
dfcu bank as well then it will not appear to the Congressmen that the interest of the public is only
dmb community bank and in shaping legislation that will further promote the special interests.
The Congressmen receive a dozen and
herring bank as well more letters from
dmb community bank and those selfishly interested to every one that they receive from
chase bank swift code and the general public whose interest it is simply to preserve the general welfare.
Having defined what I am convinced to have been the original and
dmb community bank as well controlling influence in the organization of the so-called National Citizens’ League and
city bank egypt as well its State branches, I do not wish to dismiss the subject and
dmb community bank as well leave the impression that its members generally desire to fasten on the country a false money system, but
chase bank philadelphia and I do not hesitate in saying that those who control the distribution of literature do so in the interests of the selfish Wall Streeters, but
dmb community bank and there is no disposition on my part to make the public believe that these men are wilfully opposed to the public welfare. They are a production of this capitalistic era and
danske bank dk as well they believe in it and
dmb community bank as well are fighting for its supremacy, but
coppermark bank and as against that, I claim that no careful honest student will deny that the commercialism and
dmb community bank as well speculation of the present period, and
compass bank arizona as well the basis on which business and
dmb community bank as well speculation are conducted, lead the rank and
chemical bank michigan as well file of the population into industrial slavery—in fact that condition actually exists, now, and
dmb community bank as well it is that that I am pointing out,
citizen bank ballpark and and
dmb community bank as well trying to remedy.