The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-06-03
MARX, LENIN
ON FINANCE
CAPITAL


nature of the capitalist system per
mits an actual, free, development only
up to q certain point, 50 that 1t con-
stitutes an immanent fetter and bar
rier of production, which are con-
tinuslly overstepped by the credit
system. Hence the credit system ac~
CELEBRATES the material development Of
the forces Of production and the
establishment Of the world market,
To bring these material foundations
Of the new mode Of production 10 .
certain degree Of perfection, u tbs
historical mission Of the capitalist
system Of production. At the same
time credit acCelerates the violent
eruptions Of this antsgoniSrn, tins
crises, and thereby the development
Of the elements Of diSintegration Of
the old mode OF production
&C.. the accumulation OF weaash
by the appropriation and explanation
Of the labor Of others, to tbs purest
and most colossal form Of gambling
and swindling, and reduces more and
more the number of those. who es-
plot the social wealth"
--CCapitsI, by Karl Marx, Vol. III.
Section Capitalist Producs1ou," pa&e
522) "a
.st9 ~
Talk about centraIimstAong Tys4
credit system, which has It's center
in the so-called national banks and
the great money lenders and usurers
about them, Is an enormous centyalj-
zation, and gives to this class Of para
sites fabulous power, not only %
deSpoil periodically the industrial
capitalists, but also to interfere into
actual production in most danger
Gus manner-and this gang know
nothing about production and has
nothing 70 do with t."
s-(Capitsl. by Kari Marx. Vol. Ill
Currency Under the Credtt System, ?
page 841) "a.
IAN the peoples Of taas world are
enmeshed in tbs net Of the world
Market end therefore the capitalist
regime tends more and more to as
sumo an international character.
While there Is thus Q progressive d.
minution In the number Of capitalist
magnates (who usurp and monopo-
lie all the advantages Of this trans
formative process, there occurs q
corresponding increase in the mass
OF poverty, oppression enslayement.
degeneration, and exploitation; but
at the same time there Is q steady
intensification OF the wrath Of the
| working class-a class which grows
ever more numerous, and la disci-
| plined, unified, and organized by the
very mechanism Of the capitalist
method OF production. Capitalist
monopoly becomes fetter upon the
method Of production which has
flourished with 1t and under II. The
Capitalization OF the means Of pro-
duction and the Specialization Of labor
reach point where they prove In
compatible with their capitalist hus&
This bursts asunder. The knen Of
capitalist private property sounds.
The appropriations are appropriated"
| (Our emphaSis)
-("Capital," Vol. l., by Karl Marx.
chapter, Historical Tendency OF
Capitalists Accumulation" page s4s)
( Monopoly has sprung from the
banks. These have developed into
the monopoliStS OF finance-capital out
OF modest Intermediates. Some three
or five Of the biggest banks in each
of the foremost capitalist countries
have achieved the personal union"
of industrial and banking capital, and
| concentrated in their hands the dis.
posal Of thousands upon thousands
OF millions which form the greater
part Of the capital and revenue Of
entire countries. A financial oligar-
! chy, imposing an infinite number Of
financial ties Of dependence upon all
the economic and political institutions
OF contemporary capitalist society
without exception-such is the most
striking manifestation Of this mon
opoly.
-Oenin'S Imperialism" Chapter
X, PIP. 10S-l04)
Moreover, Imperialism Is an I'M
menSe concentration of money capt.
/ tai In few countries Hence thu
! inevitable development of class. or
rather of a category, Of bondholders
(rentiers), people who live by clipping
coupons, people entirely strangers to
activity in any enterprise whatever,
people whose profession is idleness.
-Nenin's Imperialism" Chapter
VIII, page 49, g.
There is no doubt that the deyei.
opment is going in the direction of a
single world trust that will swallow
| up all enterprises and all states
without exception. But the deyel-
opment in this direction is proceed
/ ing under such stress, with such a 4
tempo, with such contradictions.
conflicts, and convulsions-not only
economical, but also political, ma
tional, etc, etc.,--that before a single
world trust will be reached, before
the respective national finance can
italists will have formed a world un.
ion of ultra-imperialisrn," imper-
ialism will inevitably explode, cap-
talism will turn into its opposite,
(Our emphasis.) ~
-Uenin's introduction to "Imper-
islism and World Economy" by Buk-
harm, page Ia M
Imperialism in particular--the era
of banking capital, the era Of gigan-
tic capitalist monopolies, the era OF
the transformation Of monopoly cap