Montana labor news., 1936-03-19
No Depression For
Rulers Of America
-Rv Colston E Warne.

- &4A9ANA - W "A ~
AMHERST, Mass.-(FPl - There's
no longer any doubt who rules Ameri-
ca.
In the Rulers of America (Interna-
tional Publishers, New York City,
$3.50, Anna Rochester of the Labor
Research Assn. has brilliantly shown
the forces that control Uncle Sans
l%30,0O0,000 nephews and the manner in
which they go about their systematic
work of collecting profits and COM
pleting their control. Now, she finds !:
l. Through an interlocking net
work, the House of Morgan controls
more than a sixth OF the corporate
wealth Of America, including within its
sphere of influence some IS banks and
90 principal corporations, with assets Of
80 billion dollars. If one adds in the
outer fringes of the Morgan empire, a
financial grip upon 10 billion dollars
of additional assets is to be noted.
2. The Rockefeller cabinet takes
second place, content with a direct
control over only some 21.5 billion OF
assets, exclusive Of real estate holdings.
Were one to link in the outer fringes
of the Rockefeller empire. other bill
lions would be added.
3. Considered from the standpoint
of the 200 largest ~non-banking cor
porations, the comparative score seems
to stand - Morgan control, 81 per cent
Rockefeller control, II per cent; both
important but indecisive, 3 per cent.
A continuous tug Of war is stated to be
in effect, both groups struggling for
greater power and privilege - but with
the Morgan faction retaining the up
per hand.
4. Andrew Mellon has come out
third best in the fight, although his in
terests have been rapidly advancing in
recent years. His direct sphere Of con-
troll extends only over some 4 IA bill
lion Of assets in IS banks and insurance
companies and 40 n%on-financial corpor-
ations. The orter reaches Of his en-
pire would include other companies
with some 10 billion of assets,
5. In the picture also are other lin
anciers who, IRON the standpoint OF
large corporate control, are not pre-
cisely "two-spots" but who at the same
time are definitely small. In this group
are to be found Henry Ford, the du-
Points, the Guggenheims, the Vender-
bits, the Weyerhaeusers the Kuhn
Loeb group and others.
Inside financial groups, operating IN
der a policy OF "a community Of in
lterest," dominate our bi~llion-dollar
giants - railways utilities, steel COM
panies, Control is used for the
purpose OF extracting profits under
various technical forms. In the COM
plexity Of the finance capital structure.
banks and bankers have richer pick
ings from the advancing of credit, the
treating of capital, the promotion OF
mergers, and the manipulation Of pro-
tective committees and congratulations
than they could gather in merely from
the ownership of stocks and bonds"
Such an analysis as this should &C
far to show the %speciousness Of the
arguments of the American Liberty
League for the establishment Of
free competition. 1t should also go fai
to show the impossibility Of driving
the money changers from the temple
by New Deal procedures. These innei
groups have found depression an ex-
%cellent opportunity to use their sur
plus resources to add to their domains
at panic prices.
There is no depression today for the
rulers of America.