Many Southern Plantation owners were working towards the day when they could convert their investment to more profitable industrial production as had been done in the North, and others felt that freemen who were paid wages would be more efficient than slaves who had no incentive to work. For the present, however, they were stuck with the system they inherited. They felt that a complete and sudden abolition of slavery with no transition period would destroy their economy and leave many of the former slaves to starve - all of which actually happened in due course.
G. Edward GriffinAnd thirdly, the FDA occasionally does some genuine public good with whatever energies it has left over after serving the vested political and commercial interest of its first two activities.
G. Edward GriffinIn the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.
G. Edward GriffinThe American people have no idea they are paying the bill. They know that someone is stealing their hubcaps, but they think it is the greedy businessman who raises prices or the selfish laborer who demands higher wages or the unworthy farmer who demands too much for his crop or the wealthy foreigner who bids up our prices. They do not realize that these groups also are victimized by a monetary system which is constantly being eroded in value by and through the Federal Reserve System.
G. Edward GriffinIn 1938, I. G. Farben sent a letter to (a major drug firm), one of its American subsidiaries, (that)..all advertising contracts must contain '...a legal clause whereby the contract is immediately cancelled if overnight the attitude of the paper toward Germany should be changed.
G. Edward Griffin