Frenzied Finance, Vol. 1: The Crime of AmalgamatedLawson, Thomas William
History
Frenzied Finance, Vol. 1: The Crime of Amalgamated
Lawson, Thomas William
Amalgamated Copper Co.; Gas companies -- Massachusetts -- Boston; Insurance -- United States; Speculation; Standard Oil Company
There will be set down in this book, in as simple and direct a fashion
as I can write it, the story of Amalgamated Copper and of the "System"
of which it is the most flagrant example. This "System" is a process or
a device for the incubation of wealth from the people's savings in the
banks, trust, and insurance companies, and the public funds. Through its
workings during the last twenty years there has grown up in this country
a set of colossal corporations in which unmeasured success and continued
immunity from punishment have bred an insolent disregard of law, of
common morality, and of public and private right, together with a grim
determination to hold on to, at all hazards, the great possessions they
have gulped or captured. It is the same "System" which has taken from
the millions of our people billions of dollars, and given them over to a
score or two of men with power to use and enjoy them as absolutely as
though these billions had been earned dollar by dollar by the labor of
their bodies and minds. Yet in telling the story of Amalgamated, the
most brazen and voracious maw of this "System," I desire it understood
that I take no issue with men; it is with a principle I am concerned.
With the men I have had close and intimate intercourse, and from my
knowledge of the means they have used, and the manner in which they have
used them, and the causes and effects of their performances, I have no
hesitation in stating that the good they have done, the evils they have
created, and the indelible imprints they have made on mankind are the
products of a condition and not of their individualities, and that if
not one of them had ever been born the same good and evil would to-day
exist. Others would have done what they did, and would have to answer
for what has been done, as they must. So I say the men are merely
individuals; the "System" is the thing at fault, and it is the "System"
that must be rectified. Better far for me not to tell the story I am
going to tell; better far for the victims of Amalgamated not to know who
plundered them and how, than to have them know it only to wreak
vengeance on individuals and overlook the "System," which, if allowed to
continue, surely will in time, a short time, destroy the nation by
precipitating fratricidal war.
Public-domain text, read in full here on John Shaqi.
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