Per cent Net Sandbaggery
Location[1] Capital on Capital Per Cent
New York $24,618,000 217 211
Chicago 13,213,000 195 189
Atlanta 3,759,000 162 156
San Francisco 6,412,000 159 153
Boston 7,454,000 137 131
Minneapolis 3,265,000 131 125
Kansas City 4,295,000 129 123
St. Louis 4,229,000 124 118
Cleveland 10,070,000 119 113
Philadelphia 8,278,000 116 110
Richmond 4,884,000 110 104
Dallas 3,757,000 89 83
Take all of your reading, take all of the history of banking or of
finance since banks were first founded and see if you can approximate
any such leviathan Shylockery. The stockholders in National Banks who
provided the capital for this orgy of profiteering were gyped out of
all the way from 211 per cent in the New York satrapy to 83 per cent
in the Dallas satrapy. For the year 1920 all over the U.S.A. on the
average Federal Reserve lootage took away from the real providers of
its capital--the stockholders in National Banks--better than 154 per
cent on the money they provided!
These records are taken from the accounts of its own pillage rendered
by the Federal Reserve System itself.
You could be quite some banker yourself, you could orate and strut
and preen and propagandize, you could swell out your pouter pigeon
breast at stage-managed banquets and be a prince of high finance with a
limitless expense account and with an altitudinous salary--if you could
commandeer your neighbor's money at 6 per cent and then sandbag out
from 211 to 83 per cent profit on it, couldn't you?
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account