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46
Woodrow Wilson quote on change to the credit system during his administration. Sources in comments. (media.greatawakening.win)
posted 9 days ago by BerlinWallCrosser 9 days ago by BerlinWallCrosser +46 / -0
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– redtoe-skipper 2 points 9 days ago +2 / -0

It bears repeating: the quote in an of itself is constructed of 3 parts. It would behoove those who use it, to indicate such. [cherry picking?]

The rest of the quote is mined and assembled from two paragraphs. The first half can be found (quote mined section in green) in chapter 8 called “Monopoly, or Opportunity”:

However it has come about, it is more important still that the control of credit also has become dangerously centralized. It is the mere truth to say that the financial resources of the country are not at the command of those who do not submit to the direction and domination of small groups of capitalists who wish to keep the economic development of the country under their own eye and guidance. The great monopoly in this country is the monopoly of big credits. 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 privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action 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 very 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 liberties of men.

And the latter half is found in chapter 9, called “Benevolence, or Justice?” (quote mined section in green):

We are at the parting of the ways. We have, not one or two or three, but many, established and formidable monopolies in the United States. We have, not one or two, but many, fields of endeavor into which it is difficult, if not impossible, for the independent man to enter. We have restricted credit, we have restricted opportunity, we have controlled development, and we have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.

It is clear that the power to expand or restrict credit is indeed a power to domination.

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