“Overcapitalization in all its shapes is one of the prime evils; for it is one of the most fruitful methods by which unscrupulous men get improper profits, and when the holdings come into innocent hands we are forced into the uncomfortable position of being obliged to reduce the dividends of innocent investors, or of permitting the public and the wage-workers, either or both, to suffer. Such really effective control over great inter-State business can come only from the National Government. The American people demands the new Nationalism needful to deal with the new problems; it puts the National need above sectional, or personal advantage; it is impatient of the utter confusion which results from local legislatures attempting to treat National issues as local issues; it is still more impatient of the National impotence which springs from the over-division of governmental powers; the impotence which makes it possible for local selﬁshness, or for the vulpine legal cunning which is hired by wealthy special interests, to bring National activities to a deadlock; The control must be exercised in several different ways. It may be that National incorporation is not at the moment possible; but there must be some affirmative. National control, on terms which will secure publicity in the affairs of and complete supervision and control over the big, Nation-wide business corporations; a control that will prevent and not legalize abuses. […] Such control should protect and favor the corporation which acts honestly, exactly as it should check and punish, when it cannot prevent, every species of dishonesty.”

— Theodore Roosevelt

1910s, The Progressives, Past and Present (1910)

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Theodore Roosevelt 445

American politician, 26th president of the United States 1858–1919

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“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world: no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”

Woodrow Wilson (1856–1924) American politician, 28th president of the United States (in office from 1913 to 1921)

Attributed in Shadow Kings (2005) by Mark Hill, p. 91; This and similar remarks are presented on the internet and elsewhere as an expression of regret for creating the Federal Reserve. The quotation appears to be fabricated from out-of-context remarks Wilson made on separate occasions:

I have ruined my country.

Attributed by Curtis Dall in FDR: My Exploited Father-in-Law, regarding Wilson's break with Edward M. House: "Wilson … evidenced similar remorse as he approached his end. Finally he said, 'I am a most unhappy man. Unwittingly I have ruined my country.'"

A great industrial nation is controlled by its system of credit.…

"Monopoly, Or Opportunity?" (1912), criticizing the credit situation before the Federal Reserve was created, in The New Freedom (1913), p. 185

We have come to be one of the worst ruled… Governments….

"Benevolence, Or Justice?" (1912), also in The New Freedom (1913), p. 201

The quotation has been analyzed in Andrew Leonard (2007-12-21), " The Unhappiness of Woodrow Wilson https://www.salon.com/2007/12/21/woodrow_wilson_federal_reserve/" Salon:

I can tell you categorically that this is not a statement of regret for having created the Federal Reserve. Wilson never had any regrets for having done that. It was an accomplishment in which he took great pride.

John M. Cooper, professor of history and author of several books on Wilson, as quoted by Andrew Leonard
Misattributed

“One of the most prevalent ideological mantras of Western capitalism is that the market should rule. But as the latest health and economic crises demonstrate, capitalists soon forget their worship of the market when times get tough. They scream for government money, and plenty of it. It turns out that “the market” is fine when it comes to whipping workers to accept lower wages, but when it comes to lower profits, the market can go hang.”

Tom Bramble Australian trade unionist

Everyone's a socialist in a crisis, 21 March 2020

“The performance of business leaders during the next decade will play a major role in determining not only business but political and social trends for a long time to come. Here are some of the principal reasons:
- Business leaders control the economic well-being of and stockholder.
- The course of business shapes public opinion.
- Business leaders shape public opinion.
So, in addition to his or her prime responsibility of managing his or her enterprise at a profit, the business leader of today is faced with new and larger responsibilities. And, at the same time, the job of managing his or her enterprise at a profit is increasing in complexity. Consequently, the imposition of additional responsibilities makes the nation’s task of developing an adequate number of properly equipped executive leaders a staggering one indeed.”

Marvin Bower (1903–2003) American business theorist

Marvin Bower (1949) The development of executive leadership. Harvard University. Graduate School of Business Administration. p. v

“Control of thought is more important for governments that are free and popular than for despotic and military states. The logic is straightforward: a despotic state can control its domestic enemies by force, but as the state loses this weapon, other devices are required to prevent the ignorant masses from interfering with public affairs, which are none of their business.”

Noam Chomsky book Deterring Democracy

Deterring Democracy (1992), p. 357 http://books.google.com/books?id=uZui06DXqmcC&pg=PA357.
Quotes 1990s, 1990-1994

“In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place oblige it to control itself.”

James Madison Federalist Papers

Federalist No. 51 (6 February 1788)
1780s, Federalist Papers (1787–1788)
Source: The Federalist Papers
Context: If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place oblige it to control itself. A dependence on the people is, no doubt, the primary control on the government; but experience has taught mankind the necessity of auxiliary precautions.

“Prudishness is pretense of innocence without innocence. Women have to remain prudish as long as men are sentimental, dense, and evil enough to demand of them eternal innocence and lack of education. For innocence is the only thing which can ennoble lack of education.”

Karl Wilhelm Friedrich Schlegel (1772–1829) German poet, critic and scholar

Athenäum (1798 - 1800)
Source: “Selected Aphorisms from the Athenaeum (1798)”, Dialogue on Poetry and Literary Aphorisms, Ernst Behler and Roman Struc, trans. (Pennsylvania University Press:1968) #31

“For, what is slavery? It is the complete and absolute subjection of one person to the control and disposal of another person, by legalized force. We need not argue that no person can be, rightfully, compelled to submit to such control and disposal. All such subjection must originate in force; and, private force not being strong enough to accomplish the purpose, public force, in the form of law, must lend its aid. The Government comes to the help of the individual slaveholder, and punishes resistance to his will, and compels submission. THE GOVERNMENT, therefore, in the case of every individual slave, is THE REAL ENSLAVER, depriving each person enslaved of all liberty and all property, and all that makes life dear, without imputation of crime or any legal process whatsoever. This is precisely what the Government of the United States is forbidden to do by the Constitution. The Government of the United States, therefore, cannot create or continue the relation of master and slave. Nor can that relation be created or continued in any place, district, or territory, over which the jurisdiction of the National Government is exclusive; for slavery cannot subsist a moment after the support of the public force has been withdrawn.”

Salmon P. Chase (1808–1873) Chief Justice of the United States

"The Address of the Southern and Western Liberty Convention" http://alexpeak.com/twr/libertyparty/saw/, in Anti-slavery Addresses of 1844 and 1845 by Salmon Portland Chase and Charles Dexter Cleveland, ed. C. D. C. (London: Sampson Low, Son, and Martson, 1867), pp. 75–125.

“We, as lawyers, as men of business, as men of experience, know perfectly well what evils necessarily result from handing over a great family estate to a mortgagee in possession, whose only chance of getting his money is to sacrifice the interests of everybody to money-getting.”

Nathaniel Lindley, Baron Lindley (1828–1921) English judge

In re Marquis of Ailesbury's Settled Estates (1891), L. J. Rep. 61 C. D. 123.

“Of what is great one must either be silent or speak with greatness. With greatness--that means cynically and with innocence.”

Friedrich Nietzsche book The Will to Power

Source: The Will to Power

“Enlightened business is learning that competition ought not to cause bad social consequences which inevitably react upon the profits of business itself. All but the hopelessly reactionary will agree that to conserve our primary resources of man power, government must have some control over maximum hours, minimum wages, the evil of child labor and the exploitation of unorganized labor.”

Franklin D. Roosevelt (1882–1945) 32nd President of the United States

1930s, Message to Congress on establishing minimum wages and maximum hours (1937)

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Theodore Roosevelt 445

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