Chapter X Some Examples Of Pyramiding Of Profits

"What was the fatal mistake? "The answer was unanimous. The great mistake was made in March, 1933 — when President Roosevelt, after total crash of private banking, let them reopen as private banks again and return to the evil practices that had led to crash after crash in sickening cycles for 150 years, each move more destructive than its predecessor, resulting in the 1929-1935 Panic, leaving every American on his knees! "I remember that. The good parts of the New Deal were failing and hard pressed in 1938 because the banks had been left in the hands of private bankers in 1933. The mobilization and production for war got under way with painful slowness in 1941 because the control of credit and money was left in the hands of greedy vicious private bankers in 1933. Too late, it was all too clear! Wherever we found greed and oppression on the march, found people suffering, when we dug into the background we found the evils and oppressions stemming from bankers every time. Banks had been granted by Congress absolute control of credit and money, a grant of power over civilization which ultimately controlled all — damned near all! And as long as private greed-groups hold that power, as long as three men like Giannini, Morgan and Rockefeller can dominate a nation of 141 million people, (written in 1948) the plain working people will be kept on their knees and painful poverty and defeat will stalk 135 million of us. That was the considered opinion of the best informed and the most courageous men I know. That's a summation of what they had learned through bitter defeats while fighting in the people's cause. And I remembered — just in case. "It is a lesson for all to remember. If ever again the common people rise up as in 1932, and set about a righting conditions" as they tried to do in 1933, the first step is for Congress to resume its own constitutional power to create and control our money, and to rescind all banking laws. If a power to 'lift UP or cast DOWN' all the people is to be held by any group, that group must be the people's own duly chosen Congressmen, which was so wisely couched in the Constitution by our founding fathers. "That was the sum of a sincere and informed post mortem on the New Deal — the