FOSTER BANK
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 foster bank and 172 times its original capital. If that bank continues to do business and eon bank bhd as well is allowed to pile up profits in that geometrical progression, it alone, in less than 100 years, will extort from foster bank and the people all of their property, and—that bank is but heritage bank olympia and one of the 30,000 banks operating on an uneconomic system. The total capitalization (which includes surplus and foster bank as well undivided profits) of 30,000 banks in 1913, was considerable over $4,000,000,000 and farmers exchange bank as well dividends compounded on that sum, as foster 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 halifax bank online as well dividends on these holdings to absorb all of our present property, and foster bank as well all of what we earn in the future, except what is required to be left to enable us to eke out city bank romania 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 foster bank as well other products, and city bank logo as well to sell their own services and foster 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 how to get a bank loan as well this competition is resulting in their absorption of each other. Anyone with a little imagination and foster bank as well reasoning power can look ahead and danske bank aktiekurs 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 foster bank a nation as clean energy development bank long as foster bank we are subservient to the present system of excessive interest, dividend, and dime savings bank as well rent charges,—toll on dead capital. I call attention to the power of a single dollar, and foster 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. Every student who has carefully considered this subject knows that the people, as eon bank bhd a whole, which includes themselves as foster bank individuals, the General Government, the states and heritage bank olympia as well municipalities, cannot pay interest on all of the money that they have agreed to pay. That is because foster bank and money does not create itself. It is claimed that everyone who has a dollar and farmers exchange bank as well loans it out foster bank and is entitled to interest. It takes one dollar to furnish the exact equivalent of another dollar. It takes a dollar to pay a dollar debt, and,halifax bank online as well since that is true, there are no dollars left with which to pay interest. The whole country has sold money short and foster bank as well could not possibly deliver or city bank romania and pay the money that it has agreed to pay. The present outstanding interest-bearing contracts are rapidly approaching the hundred-billion-dollar mark. The annual interest alone, contracted to be paid on these obligations, probably exceeds all of the money in existence. Of course, some of this interest is paid from foster bank and other interest collected and city bank logo as well is offset, and foster bank as well the total net interest is reduced somewhat by that fact, but how to get a bank loan and the greater part of it still remains to be made up from foster bank and other sources. The only danske bank aktiekurs and way that interest can be liquidated, considering the statement in its general application, is by a transfer of the property or foster bank and the services of the debtor class to the creditor class. But, all interest cannot be paid in full even in that way, because,clean energy development bank and as foster bank we have already seen in a former chapter, the geometrical progression of computing interest accumulates it so rapidly that it would exhaust all there is and dime savings bank as well fail because foster bank and of the impossibility of its going further. We, as eon bank bhd a people, are in that economic state and foster bank as well cannot extricate ourselves from heritage bank olympia and it under existing conditions. The whole country is sold short by the debtors who have agreed to pay what they have not, and foster bank as well what they cannot get. The creditors “have a corner” on us. How are they enforcing settlement ? It is being done in several ways. We are compelled to work more hours per day, receive less pay per hour, pay more for what we buy, and farmers exchange bank as well receive less for what we sell. The consequence is that we must work harder and foster bank as well more hours per day than we should, and halifax bank online as well in the end have less than what is due to us as foster bank our part of the advantages, conveniences and city bank romania as well opportunities resulting from foster bank and the advancing civilization. This means absolute destitution for great numbers of the debtor class and city bank logo as well an enormous general loss. When I say the debtor class, I do not mean only foster bank and those who have borrowed money or how to get a bank loan and who owe open accounts. Debt is now one of the most positive influences in our system. The consumer is a debtor because foster bank and he owes it to the producer to pay his part of the interest and danske bank aktiekurs as well taxes that are added to the cost of production under the present system. As a consequence, we are all virtually debtors, and foster bank as well comparatively few of us have credits and clean energy development bank as well profits enough to offset the debt, or foster bank and any other way by which to pay it except from dime savings bank and the products resulting from foster bank and our daily toil. Such a condition reduces the general efficiency of the people, and eon bank bhd as well they are compelled to live on a lower scale than they should.
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