Business Quotes
There is some debate as to whether this statement was made at this time or different parts of it on two different occasions. The sentiment and position appears to be genuine but the issue of the timing is in doubt.
Historically, this is an amazing quotation. It is typical of analyses of Islam in the 21st century when America and most of the non-Muslim world was having great difficulties with Islamic militancy. But this was written at the end of the 19th century, in 1899. Churchill had a grasp of much that it would take other politicians a century to understand. This book was relatively unknown to all but a few historians, military men, and political scholars. (There was a shortened version published in 1902 which did not include this passage and that is the version that Project Gutenberg posted on the Internet. So do not assume that the quotation is wrong if you cannot find it in the version you are reading on the Internet. You need the 1899 longer and more detailed version.
March 4, 1933 was the date that Franklin Delano Roosevelt had assumed the Presidency from Herbert Hoover and used government to combat the Great Depression whereas Hoover would not take any of these steps as the conservative wing of his party and he regarded anything that government did was “creeping socialism”. Historically, it is useful to recall what steps Roosevelt took that were described as socialism. These include Social Security, Federal Deposit Insurance for bank accounts, aid to farmers, the Civilian Conservation Corps, Regulation of the stock market, regulation of banks and many other things that are key elements of modern capitalism which virtually every capitalistic nations has in one form or another. Long after Truman was out of office, the most conservative elements of the Republican Party have accused every Democratic President of “creeping socialism” when they were actually quite opposed to socialism. Even when their career before their presidency was full of criticisms of socialism and policies that are opposite, as in the case of President Obama, the President has been accused of being a socialist. However, it started with Franklin Delano Roosevelt and Harry S Truman.
Sometimes this is misquoted as 'The business of America is business.' See Woodrow Wilson for an earlier statement of this idea which is almost always incorrectly attributed to Coolidge as the originator of the idea.
The bill passed, but Jackson, true to his word, vetoed it.
This frequent Jefferson quotation almost certainly was never written or uttered by him but was probably created by later opponents of private banks. It has never been verified from any studies of Jefferson’s prolific writings. Further the word ‘inflation” came into use in the 1860s and ‘deflation’ seems to have first been used in the 1920s. However, some ascribe it to a letter Jefferson wrote to Treasury Secretary, Albert Gallatin in 1802.
Hubbard had a business based on his self-help book, Dianetics. He turned this into a pseudo-religion called Scientology which makes large sums of money years after Hubbard died.
Leaders of nations for years only trusted as truly patriotic those man—usually nobles of the aristocracy—who owned land. If an invader came and seized their land, they would lose their wealth. However money is fungible, and a banker can easily move his money abroad and join another nation or side in a war. If the country is ruined by war, the manufacturer cannot obtain labor or raw materials, The financier depends on none of these and so hs not the vested interest in the welfare of the nation.
Most Americans do not realize that our naval forces were disbanded after the Revolution and even the Constitution did not require a navy. We had some Federal revenue cutters to interdict smugglers but no warships and no permanent sailors or officers. The Barbary Pirates had an incredible extortion racket going in the Mediterranean. If nations would pay them an annual sum each year, they would not attack and seize merchant ships of that country and sell the ships and goods while holding the sailors for ransom. See {640850},86703,{640846} & {640848}
In 1961 the President intervened in a labor dispute in the steel industry with the "understanding" that the steel companies would not raise their prices after the settlement. As soon as there was a settlement prices were raised:. The President "persuaded" the steel executives to rescind the increases.
Stamp was a banker and the 2nd richest man in England at the time. Yet he warned about aspects of banking that needed reform and regulation.
Jobs was referring to consumer products, but many feel that the principle holds with respect to politicians also.
