A great industrial nation is controlled by its system of credit.

Our system of credit is 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 every 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." (My italics.) Undoubtedly this is a great question; the establishment of a political control over credit will mean a political and financial revolution.

For it will establish the power of the government over our whole economic system and will lead rapidly to a common political and economic organization of all classes of capitalists for the control of the government, to a compromise between the group of capitalists that now rules the business world and that far larger group which is bound to rule the government.

The financial magnates have seen this truth, and, as Mr.Paul Warburg said to the American Association (New Orleans, Nov.
21, 1911), "Wall Street, like many an absolute ruler in recent years, finds it more conducive to safety and contentment to forego some of its prerogatives ...