- “We hold now three of the winning cards in the game for commercial greatness, to wit – iron, steel and coal, we have long been the granary of the world, we now aspire to be its workshop, then we want to be its clearing-house” (The President of the American Bankers’ Association at Denver, 1898).
- The Significance of the Trust, by H.G. Wilshire.
- Poverty: A Study of Town Life.
- The classical economists of England, forbidden by their theories of parsimony and of the growth of capital to entertain the notion of an indefinite expansion of home markets by reason of a constantly rising standard of national comfort, were early driven to countenance a doctrine of the necessity of finding external markets for the investment of capital. So J.S. Mill: “The expansion of capital would soon reach its ultimate boundary if the boundary itself did not continually open and leave more space” (Political Economy). And before him Ricardo (in a letter to Malthus): “If with every accumulation of capital we could take a piece of fresh fertile land to our island, profits would never fall.”
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