On June 3, 1933, the Vice-President of the United States, laid before the Senate “a resolution
adopted by the League of War
Veteran Guardsmen, National
Headquarters, East Lynn, Mass.
favoring direct credits for everybody, and stating in part that, the
people of the great common and
middle classes all turn your eyes
and lend your help to the coming
‘new emancipator’ in the Direct
Credits Society, 606 Woodward
Avenue, Detroit, Mich.” (Congressional Record, June 3rd, 1933.
page 4984.)
On January 20, 1934, Congressman Sadowski, of Michigan, said on the floor of the House, using paragraph after paragraph from Lawson’s book DIRECT CREDITS FOR EVERYBODY.
“Mr. Chairman: The banking business should be ‘nationalized’ or socialized, if you please. They should be owned and operated by the Federal Government.
The Original Benefactor
“I would like to see the ‘interest
paying’ game taken away from
private bankers. I cannot understand why bankers, who do not
own the money they lend, have a
right to charge interest or toll, on
the use of money. It is this interest, or toll, that robs the manufacturer and merchant of their profit
and the laborer of his wage.
“It is like the Rake-off, or the ‘percentage’ in a crap game. When the game is played long enough the house has it all. There is no reason why the money masters, the private bankers, who ‘produce nothing,’ are overloaded with wealth and power, while the Good American citizen who produces everything, is reduced to beggary. Take away their banking privilege, take away their right to charge toll on the producers of this country, exterminate that parasite called ‘interest.’ Then we will have solved our troubles. Then, and only then, will you have honest distribution of wealth.
“We have an annual business of approximately $100,000,000,000 and have had only $5,000,000,000 to do the work. This
On January 20, 1934, Congressman Sadowski, of Michigan, said on the floor of the House, using paragraph after paragraph from Lawson’s book DIRECT CREDITS FOR EVERYBODY.
“Mr. Chairman: The banking business should be ‘nationalized’ or socialized, if you please. They should be owned and operated by the Federal Government.
The Original Benefactor
“I would like to see the ‘interest
paying’ game taken away from
private bankers. I cannot understand why bankers, who do not
own the money they lend, have a
right to charge interest or toll, on
the use of money. It is this interest, or toll, that robs the manufacturer and merchant of their profit
and the laborer of his wage.“It is like the Rake-off, or the ‘percentage’ in a crap game. When the game is played long enough the house has it all. There is no reason why the money masters, the private bankers, who ‘produce nothing,’ are overloaded with wealth and power, while the Good American citizen who produces everything, is reduced to beggary. Take away their banking privilege, take away their right to charge toll on the producers of this country, exterminate that parasite called ‘interest.’ Then we will have solved our troubles. Then, and only then, will you have honest distribution of wealth.
“We have an annual business of approximately $100,000,000,000 and have had only $5,000,000,000 to do the work. This