The producers news., 1927-06-17

The commanding grjup under finance caplCal Is
neither the bankers separately nor the industrial
capitalists, but group of financial plunderers
(the financial arlstocracy or oligarchy) who unite
in their number the kings of industry and the
banks.
Thus, for example, in the United States of
America at the end of 1912 there were 18 big
banking institutions, the owners and directors of
which-altogether $50 persons-occupied the fol-
lowing commanding posts in smaller banks and
various different enterprises (mostly industrial
and transport):
1886 directors positions in Al banks and
trusts representing total capital of 1882 million
dollars and deposits to the extent of 1884 million
dollars.
$40 directors positions in II insurance. compa-
nies with active capital at their disposal of 26
million dollars.
"155 directors position in 81 railroad companies
with total capital of 1913 million dollars, and
271, ,12O klometers of track.
"6 directors positions in express train COM
panies, and in navigation company of 245
million dollars and yearly income of 81 million
dollars.
"98 directors position in % industrial and COM
mercial companies with a total capital of 1858
million dollars and yeaElE income of over 145
million dollars.
AS directors positions in 10 municipal public
service companies (water supply, electricity, etc.,
with total capital of 1926 million dollars and an
income of 428 million dollars.
altogether a total of 1870 landowners and
directors occupy TAG directors position in 1874 en-
terprises, with total capital of 25, 325 million
dollars This makes up about one-half of the to-
tai American national wealth.
Behold the dictators of finance capital in
America A hundred or more rnagnates and their
associates administer so billion dollars, holding
in their hands all the most important branches of
economic life.
This little group of magnates of finance capi-
tai holds in its hands not only the destinies of
America, the most industrialized country but also
through it, good part of the destinies of the
whole world.'*
Similarly in France, according to data for 1870
5000 big financial sharks are the masters of 1O8
banks and 1O5 of the biggest heavy industrial en-,
terprises; 1O1 railroad companies and lit other
most important industrial and financial undertak-
lngs-together 431 enterprises, of which each one
has hundreds of millions at its disposal
The same picture of course is presented by
England and Germany.
AS result some 500 men, the biggest mag,
mates of the banks and industry hold the world
in their hands and order its destinies.
y. Zmoviev: "The and the crisis of So
cialism"-p. 160 Gosizdat, Leningrad, 1920
is. WHAT EFFECT HAS THE RULE OF FIN
ANCE CAPITAL ON THE COMPETITION
AND ANARCHY INHERENT IN CAPITAL.
ISM?
Finance capital signifies the unification of the
different forms and parts Of capital in the hands
OF the financial aristocracy. The basis and pre-
llminary condition of this unification is the annib
latlon OF competition as a result of the develop
ment and mastery of the big monopolistic unions
OF the different capitalist plunderers In place of
competition and anarchy there arises capitalist
regulation and robbery of ALL by common consent
OF circle of the biggest capitalist sharks within
each bourgeois state. The capitalist states. with
the development of finance capital, become trans
formed into ever more closely knit economic units
OF associated capitalists.
But this does not mean that capitalism frees
ltselt entirely from competition and anarchy Com
petition and anarchy continue to exist on the
world market, where the big modern capitalist
state begins to collide with one another more
strongly Their struggle on the world market be-
comes the more savage and devastating. the more
developed finance capital becomes in each can
italist country
| N"PAO~l, SASA11yAlS Il0 nlgneSC stage IN
the concentration of capital is accompanied bv a
great development of the productive forces with
IN each big capitalist state
The bourgeoisie of each capitalist country m
der the rule of finance capital feels straitened
and unable to develop further within the borders
OF its town state and tries to extend these boun-
daries as much as possible
Thus as a result of the growth of finance capi-
tai IN all the leading capitalist states special
domestic and foreign policy begins to develop
peculiar to the interests of the ruling finance cap
ta This policy is directed first of ALL at closing
by means OF customs duties, the domestic market
OF each state against the capital of all other
staCes' so as to secured the domestic market ex-
cluslvely for its own home capital, and thus de-
liver itself completely from internal eonpetition
And on the other hand, this policy is directed
toward the maximum economic, and later also no.
lltlcal, widening of the boundaries of each state
towards the creation of more spacious economic
territory within which the financial capital of the
given state should be able to thrive and rule m
dividedly, fenced off from foreign competition bv
tariff walls.
Thus under the rule of finance capital. there
arises on the one hand, policy of exclusive pro-
tectlve tariffs the introduction in the interests of
/ home capital of hioh tar;fe Ill l. -J &c -