Chapter XII Creditalism Vs. Capitalism

The world has been cursed over 250 years by Creditalism parading under the banner of Capitalism. The people of every nation who toil and produce every human want, the masses, have come to hate the term Capitalism, and justly so because credit has been parading as Capital. And the users of the people's own credit have not only robbed them of the use of it in their own defence, but have created against the people a $250 billion debt during World War II. Creditalism parading as Capitalism has won the hatred of the masses of the entire world because wherever it goes it robs the masses of the products of their toil, takes from them title to their lands, either ruthlessly kills them or forces them to toil for them as peons for peons' wages and builds palaces and skyscrapers — and call it the "great works of Capitalism." The peoples of Europe take America's food and turn from us to Russia not because they love or want Communism, but because they hate our brand of Capitalism more and want it less. The people, the producing masses of the United States, even the whole world are turning against Creditalism as we know it and feel it today. There are two sources of Capital — that is, of money: 1. The production of goods, which is itself an act of creation. The amount saved becomes true capital which is stored or investment capital. That is true private capital, and the: person who created it has a perfect social right to use it as he pleases. It is honest capital. It represents wealth which he has created. It will always be limited to that portion man saves out of his production of goods for all of us; therefore it could never become dangerous. A nation financed on earned capital would be a democratic nation because no individual or group could become strong enough to dominate or destroy individuals