_Third:_ But far more serious even than the suppression of competition is the suppression of industrial liberty, indeed of manhood itself, which this overweening financial power entails. The intimidation which it effects extends far beyond “the banks, trust companies, and other institutions seeking participation from this inner group in their lucrative underwritings”; and far beyond those interested in the great corporations directly dependent upon the inner group. Its blighting and benumbing effect extends as well to the small and seemingly independent business man, to the vast army of professional men and others directly dependent upon “Big Business,” and to many another; for 1. Nearly every enterprising business man needs bank credit. The granting of credit involves the exercise of judgment of the bank officials; and however honestly the bank officials may wish to exercise their discretion, experience shows that their judgment is warped by the existence of the all-pervading power of the Money Trust. He who openly opposes the great interests will often be found to lack that quality of “safe and sane”-ness which is the basis of financial credit. 2. Nearly every enterprising business man and a large part of our professional men have something to sell to, or must buy something from, the great corporations to which the control or influence of the money lords extends directly, or from or to affiliated interests. Sometimes it is merchandise; sometimes it is service; sometimes they have nothing either to buy or to sell, but desire political or social advancement. Sometimes they want merely peace. Experience shows that “it is not healthy to buck against a locomotive,” and “Business is business.” Here and there you will find a hero,--red-blooded, and courageous,--loving manhood more than wealth, place or security,--who dared to fight for independence and won. Here and there you may find the martyr, who resisted in silence and suffered with resignation. But America, which seeks “the greatest good of the greatest number,” cannot be content with conditions that fit only the hero, the martyr or the slave. CHAPTER III INTERLOCKING DIRECTORATES