Garet Garrett’s The People’s Pottage: The Revolution Was, Ex America, The Rise of Empire [Garet Garrett, Ian Hutton] on *FREE* shipping on. by Garet Garrett. DIGG THIS · Buy this book. There are those who still think they are holding the pass against a revolution that may be coming up the road. by GARET GARRETT. Part 1 (The Revolution Was & Problem One). Copyright those who have brought about revolution in the state.” Worse outwitted.
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It is a long story, but well summarized in the report of a special committee of the House of Representatives appointed to investigate un-American activities.
Business is in itself a power. Note the threat to Congress — “in the event that Congress shall fail. It loaned public money to private borrowers on terms and at rates of interest with which no bank nor any private lender could compete; and the effect was to create a kind of fictitious, self-serving necessity.
It went by in the Night of Depression, singing songs to freedom. Mark rated it liked it Aug 31, When by the Inflation Amendment the dollar was cut loose from gold it did not immediately fall. The Revlution The Goddess of Gold. Views Read Edit View history. Then the New World was discovered by a man who was sure it was not there.
The Revolution Was | Mises Institute
But the minute it began to do that, all the New Deal’s power of propaganda was turned against it, in derision, belittlement, and defamation; and in every struggle over principle it was adroitly maneuvered into the position of seeming to stand against the people for wrong reasons, on mere pretense garretr principle.
But no government before the New Deal had ever deliberately done it. The revolution is behind them. But the full meaning of that word emergency related to far more revolutin banks; it covered the whole economic and therefore the whole social structure of the country.
Garet Garrett’s The People’s Pottage: The Revolution Was, Ex America, The Rise of Empire
Every choice it made, whether it was one that moved recovery or not, was a choice unerringly true to the essential design of totalitarian government, never of course called by that name either here or anywhere else. Ultimately the welfare state outgrows it because the perfect welfare state must in the end ration the national income, and, when it does that, money comes to be like coupons in a wartime ration book.
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There were two budgets. The only solution so far has been one of acrobatics. By taxing payrolls under the social security law of compulsory thrift and taking the money to Washington instead of letting the people save it for themselves; by taxing profits and capital gains in a system that is, or was, a profit and loss system; by having its own powerful financial agencies with enormous revolving funds, the Reconstruction Finance Corporation being incomparably the great banking institution in the world; by its power to command the country’s private bank resources as a preferred borrower, and by its absolute ownership of more than twenty billions of gold, which may be one-half of all the monetary gold in the world, the federal government’s power of capital formation became greater than that of Wall Street, greater than that of industry, greater than that of all American private finance.
But the New Deal had a train of federal lending agencies ready to start.
Garet Garrett’s American Story
The pain, nevertheless, was very acute; and much worse than any actual hurt was a nameless fear, a kind of active despair, that assumed the proportions of a national psychosis. It is the old, old thing of saving. It might be true. A society so largely founded on material success and the rewards of individualism in a system of free competitive enterprise would be liable to underestimate both the intellectual content of the revolutionary thesis and the quality of the revolutionary mind that was evolving in a disaffected and envious academic world.
In order to transfer wealth from the few to the many — wealth in the modern forms, so largely imponderable and nonportable — it must be able to borrow and spend, and unless people who have savings to lend believe in the public credit and trust it, the government cannot borrow.
The same act of Congress provided that no bank in the Federal Reserve System should resume business except subject to rules and regulations to be promulgated by the Secretary of the Treasury, gave the president absolute power over foreign exchange and authorized the federal government to invest public funds in private bank stock, thereby providing garst with new capital owned by the government.
Get fast, free shipping with Amazon Prime. But in plot, character, tone, and theme they are very different.
That was the line for several years. The scientific study of revolution included, of course, analysis of opportunity. There was the seesaw again. The other day a great number of farmers in my state did receive federal checks, and dozens of them were wondering what in the world they were for, as they knew of no payment that was due under any of the existing programs in which they were participating.
It took off from a revolutionary base. Brett rated it really liked it Dec 08, Bureaus and bureaucrats have been retained at the expense of the taxpayer…. If you raise wages to increase the wage earner’s income the farmer has to pay more for everything he buys.