THE MONEY MONOPOLISTS.

Southland Times, Issue 21982, 4 April 1933, Page 7

THE MONEY MONOPOLISTS.

To the Editor. Sir,—The answers to my “impressive” declarations will be found in “The Truth About The Slump” by A. N. Field. The following are two quotations by Mr Henry Ford, (1922): “Bankers play far too great a part in the conduct of industry. Most business men will privately admit that fact. They will seldom publicly admit it because they are afraid of their bankers. It requires less skill to make a fortune dealing in money than dealing in production. The average successful banker is by no means so intelligent and resourceful as is the average successful business man. Yet the banker through his control of credit practically controls the business man. There has been a great reaching out by bankers in the last fifteen or twenty years—and especially since the war—and the Federal Reserve System for a time put into their hands an almost limitless supply of credit.” When asked in 192 G who were the great international financiers (Money Monopolists) Mr Ford is reported to have said:—“l have several books which will tell you who they are. They were responsible for the last war, and will, in the future, always be capable of creating a war when they feel their pockets need one.” Mr A. N. Field has collected an amazing amount of “material,” and he says:—“Are these things real, or are they a mere figment of the imagination, an unbalanced and hysterical placing together of facts that have no relation, a fantastic tracing of connections where there is no connection? “The answer is that the evidence is I there, and the reader must form his own conclusions on it. No one else can do that for him.” Nowhere in my previous correspondence with you, sir, can I find that I blamed the machines for the depression. I think I have been consistent' in blaming the Money System. Therefore your inference that I, “having admitted that the machines are not to blame now attack the Money Monopolists . . .” is hardly fair to one not long left the High School and a new chum rushing into print.—l am, etc., “DIZZY.” [“One not long left High School” may be excused for swallowing so much of “The Truth About The Slump.” If we have misrepresented our correspondent’s attitude we are sorry.—Ed. S.T.j