Franklin D. Roosevelt Quotes
We have … a clear mandate from the people, that Americans must forswear that conception of the acquisition of wealth which, through excessive profits, creates undue private power over private affairs and, to our misfortune, over public affairs as well.
The problem he described in 1938 was “solved” over the next decade, but then arose again with the advent of the “military industrial complex” during the Eisenhower administration. Reform made things better and then it began to emerge again in the latter part of the 20th century. This problem seems to go through cycles of abuse and reform.
Franklin Delano Roosevelt, 1882-1945, 32nd President of the United States (Democrat, NY), State of the Union Address, 1935
Sourced by: Eigen's Political and Historical Quotations
The National City Company was formed expressly as an attempt to dominate and monopolize the United States economy. It was a holding company that included Standard Oil, National City Bank, 16 other banks, and the Union Pacific and Southern Pacific railroads among others, all controlled by the same 3 men--William Rockefeller, .James Stillman, and Frank Vanderlip.
One important observation of this quotation is the pejorative language Mises used to describe “Union Bosses” as opposed to “Union Leaders.” There were indeed a few Union “Bosses” but most unions had popularly elected leaders. It is similar to the left wing critic who refers to Corporate Executives as “Greedy Monopolists.” A few are but most are not. Historically, in the last half of the 20th century and the beginning of the 21st, the conservatives tended to be much better at pejorative language and used it more frequently and uniformly than the liberals who tended to be better in the last part of the 19th century and the first half of the 20th century.
The Kimberly and Comstock lodes were natural deposits of copper and silver so close to the surface that it required very little work to remove the metal and sell the it.
Webster was taking regular bribes from large corporations and even complained when his payments were late. So he might have had a pro-large business bias. At the time taking bribes even if there was a quid pro quo was not illegal or even “unethical” by then Congressional rules.
Although India has been a thriving democracy since its independence. Nonetheless, there has been a strong governmental tradition in India of great regulation and control of business and the economy.
His last speech before his appointment to the court.
Franklin Delano Roosevelt, often referred to by his initials FDR, was an American politician who served as the 32nd president of the United States from 1933 until his death in 1945. A member of the Democratic Party, he won a record four presidential elections and became a central figure in world events during the first half of the 20th century. Roosevelt directed the federal government during most of the Great Depression, implementing his New Deal domestic agenda in response to the worst economic crisis in U.S. history. As a dominant leader of his party, he built the New Deal Coalition, which defined modern liberalism in the United States throughout the middle third of the 20th century. His third and fourth terms were dominated by World War II, which ended shortly after he died in office.
