[Socialism As It Is by William English Walling]@TWC D-Link book
Socialism As It Is

CHAPTER II
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But the large capitalists need not fear such control, for they are assured that they themselves will be part of the new government.

And as there is no fundamental "difference of interests," the new government will have no difficulty in representing large business as well as small.
No better example could be found of the foreshadowed treaty between the large interests and the whole body of capitalists, and their coming consolidation, than the central banking association project now before Congress.

Originated by the "Interests" it was again and again moderated to avoid the hostility of the smaller capitalists, until progressives like Mr.Wilson are evidently getting ready to propose still further modifications that will make it entirely acceptable to the latter class.
Already Mr.Aldrich has consented that the "State" banks, which represent chiefly the smaller capitalists, should be included in the Reserve Association, and that the President should appoint its governor and deputy governor.

Doubtless Congress will insist on a still greater representation of the government on the central board.
Mr.Wilson emphasizes the need of action in this direction in the name of "economic freedom," which can only mean equal financial facilities and the indirect loan of the government's credit to all capitalists, through means of a government under their common control:-- "The great monopoly in this country is the money monopoly.

So long as that exists, our old variety and freedom and individual energy of development are out of the question.


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