Sunday, December 8

100 years later and nothing has changed

From Charles August Lindbergh’s “Banking and Currency and the Money Trust”, (published in 1913).  Chapter 6:
“Everyone should realize that it is not possible for us to secure absolute justice in all practical dealings, and that there will be more or less inequality under any condition that man can establish.  But that fact does not justify our support of practices that, by their natural application, make a few men immensely wealthy, create many parasites, and make industrial slaves of the masses.  Our present system does all of that by its very nature.  By that I mean that the law as it now stands and is interpreted by the courts and legislatures, forces that condition upon us and the manner in which commerce and speculation go on forces the people into unfavorable conditions even more rapidly than if the letter of the law were followed.
Government is properly the framing of rules of conduct thataid in rendering the results of transaction entered into by the people moreadvantageous, and not in fostering monopolies as it now does.  Bu the present social belief seems to be that Government should support the capitalists in the collection of interest, dividends, and rent charges which are so excessive that they cannot be collected except by an excessive reduction of the compensation made to those rendering useful services, and increasing the hours of labor for the producers.  The use of this false system is undermining the strength of our nation and will ultimately destroy it, unless we substitute a true economic one.  If interest, dividends, and rents were based on the economic savings of hoe to whom they are paid, or on capital acquired in a just and proper manner, there would be no dangerous accumulation.  A few do save and secure interest on some part of their actual earnings, but the general public does not save anything on which to collect either interest or dividends.
It does not seem credible that the farmer, the wage earner, and others should continue to perform useful services, when they know (at the same time) that that part of the product which is the result of their work, but in excess of their pay, and a proper compensation to the employer, forms dead capital on which they and their children will be taxed in the future by a geometrical progression of accumulated profits which will add to their daily burdens and force them and their children to continue living a life of poverty.  Does it seem possible that such a condition is supported by the laws of our land and the decrees of our courts?  Look at the great combinations of wealth, commonly known as trusts.  They are the logical effects of the geometrical progression of interest, dividends and rents, all of which result in a greater and greater centralization of material wealth to be possessed by those same trusts.  They are our masters now by virtue of the practice of that rule, and will continue to be just as long as we allow the present practices to continue.  They are the fruits resulting from the peoples’ toil and accumulated by the wealth absorbers who, by the rules of government and practice in business, possess the privilege of taxing all of the people.

…Who shall say that, understanding, we will permit the practice to go on indefinitely?  Who will deny our right to protect ourselves from such a system?  We absolutely know that no people can (on the past and present basis) produce so-called capital and centralize it in individual ownership, along with the right of the owners to tax us by the rule of geometrical progression of accumulative interest, dividends, and rents, without making of us a nation of insolvents and creating a condition of poverty for all men.  Most men are in a condition of poverty now.  Also, we absolutely know that the trusts, as a result of the centralizing of the control of the industrial agencies and material resources, operated in connection with their juggling of credits and money, have made us dependent upon the trusts for employment.  This is the industrial slavery that the capitalistic interests prefer to chattel slavery.  If we were chattel slaves they would have to care for us in sickness and old age, whereas now they are not concerned with us except for the time during which we work for them.”

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