1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar
Source link: http://archive.mises.org/18735/banking-corporatism-in-1912/

Banking Corporatism in 1912

October 16, 2011 by

A friend of mine on Facebook alerted me to this political cartoon dealing with the 1912 Aldrich Plan to bring central banking to the United States,


H/T: Plasmaquatic Technolithic Mist blog


Sonny's Mom October 16, 2011 at 12:58 pm

A copy of this graphic would certainly add to the ambiance down on Occupy Wall Street, Occupy Boston, etc. etc.

mikey October 16, 2011 at 2:14 pm

This cartoon is insulting to the octopus, an intelligent and self reliant creature.

Tony M. Fernández October 16, 2011 at 2:26 pm

No less relevant today. It would make for a good sign to put up around town.

Bruce Koerber October 16, 2011 at 2:31 pm
Kane October 16, 2011 at 3:05 pm

Nah, can’t be….the conservative pundits, say this started with the Obama administration in 2008. Before that is was the normal business vs. govt. thingy! Clear lines drawn in the sand. Well, Bush did a little bad, but……

The Octo looks like it’s dumping Cheerios in the Bank? Just saying….

Does anyone know who did the cartoon? Somebody has a serious insight into the symbiotic relationship between monopolized govt./banking and business.

Oklahoma Libertarian October 16, 2011 at 3:54 pm

Well, it says “Crozier” in the bottom corner…

Dan Eble October 17, 2011 at 10:10 pm

Not cheerios. Money bags.

Richard October 16, 2011 at 4:06 pm

It’s unfortunate that the Octopus was also the creatures used by anti-Semites to represent Jews and their supposed control over the world via both communism and “finance capitalism”. Wouldn’t surprise me if some fool tried to claim this picture is anti-Semitic.

Robert October 16, 2011 at 10:43 pm

What? An anti-semite is one who points out the obvious fact that for better or for worse, most of the big commercial banks are run by Jews. And that the commissars of the USSR were largely Jewish by ethnicity, if not religiously observant. Not all Jews, some Jews. Bill Handel can say it without losing his job. Get over it.

Kane October 16, 2011 at 4:17 pm

Always need to quell out or squash out disent or bonafide objections, and the Anti-Semitism thing seems to end the fight fast.

KB October 16, 2011 at 4:20 pm

I would be interested to hear some other opinions on Martin Armstrongs piece that reverting back to a gold standard would not solve the problem.


Kyle Davidson October 16, 2011 at 7:52 pm

He’s no saying a gold standard is bad, he’s saying it wouldn’t help pay for outstanding debts, which isn’t the point.

The point of the gold standard is that it forces governments (who adhere to it) not to inflate and borrow their way out. The gold is a firewall from politicians overspending. It’s always easy for pols to promise this and that, and then inflate fiat currency. If you cannot inflate, you cannot promise empty promises.

I’d be hard pressed to take anybody who uses such ridiculous amounts of bolding and size changes seriously. If what he was saying had merit, then the sensationalism wouldn’t be needed.

Kyle Davidson October 16, 2011 at 7:57 pm

“Surely those who took even just one semester of economics will recall Sir Thomas Gresham’s Law that bad money drives out good. In other words, debasing the currency when precious metals were MONEY caused people to hoard the old currency and spend the new debased coinage. When they stopped minting silver coins in 1964, most silver had disappeared from circulation within 2 years worldwide.”

He says things like this but then says that gold doesn’t work? It seems to have worked just fine. It chased all the bad currency off. Stop debasing and the issue is moot.

Jonathan M.F. Catalan October 16, 2011 at 9:41 pm

And let’s remember that Gersham’s Law applies to money systems where the value of one currency is fixed relative to another.

Daniel October 16, 2011 at 11:35 pm

Indeed; without legal tender laws, Gresham’s law does not apply

KB October 16, 2011 at 7:56 pm


Good points. I thought it was a bit over the top as well and wanted to siphon it through Austrian minds. Thank you for taking the time, that was very kind of you.


feudalredux October 17, 2011 at 2:19 am

This could go well with “Cthulhu 2012 – Why vote for the lesser evil?”

Pretty sure I saw that joke somewhere on the internets, but I cannot find the cite now.

DT October 17, 2011 at 8:41 am

Here is the book from which the cartoon originates:


Luther October 17, 2011 at 11:14 am

Great reference link, DT!

Eric Bandholz October 19, 2011 at 10:05 am

DT, thanks for the link. I’ve gone ahead and cropped all the political cartoons from the book for others to enjoy – there is 34 of them in total.


Jon Marek October 18, 2011 at 12:17 pm

Comments on this entry are closed.

Previous post:

Next post: