The banker is, as I have noted, by training and because of his
position, totally unsuited to the conduct of industry. If, therefore,
the controllers of credit have lately acquired this very large power, is
it not to be taken as a sign that there is something wrong with the
financial system that gives to finance instead of to service the
predominant power in industry? It was not the industrial acumen of the
bankers that brought them into the management of industry. Everyone will
admit that. They were pushed there, willy-nilly, by the system itself.
Therefore, I personally want to discover whether we are operating under
the best financial system.
Now, let me say at once that my objection to bankers has nothing to do
with personalities. I am not against bankers as such. We stand very much
in need of thoughtful men, skilled in finance. The world cannot go on
without banking facilities. We have to have money. We have to have
credit. Otherwise the fruits of production could not be exchanged. We
have to have capital. Without it there could be no production.
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