...the party system was now brought into being, frustrating true national reaction and enabling the wire-pullers to divide and rule...
The grip of the moneylender was now complete throughout Britain. The danger was
that the members of the new joint Parliament would sooner or later, in the spirit of their
ancestors, challenge this state of affairs. To provide against this, therefore, the party
system was now brought into being, frustrating true national reaction and enabling the
wire-pullers to divide and rule; using their newly-established financial power to ensure
12
that their own men and their own policies should secure the limelight, and sufficient
support from their newspapers, pamphlets, and banking accounts to carry the day.
Gold was soon to become the basis of loans, ten times the size of the amount
deposited. In other words, 100 pounds in gold would be legal security for 1,000
pounds of loan; at 3% therefore 100 pounds in gold could earn 30 pounds interest
annually with no more trouble to the lender than the keeping of a few ledger entries.
The owner of 100 pounds of land, however, still must work every hour of daylight in
order to make perhaps 4%. The end of the process must only be a matter of time. The
moneylenders must become millionaires; those who own and work the land, the
Englishman and the Scotsman, must be ruined. The process has continued inexorably
till now, when it is nearly completed.
that the members of the new joint Parliament would sooner or later, in the spirit of their
ancestors, challenge this state of affairs. To provide against this, therefore, the party
system was now brought into being, frustrating true national reaction and enabling the
wire-pullers to divide and rule; using their newly-established financial power to ensure
12
that their own men and their own policies should secure the limelight, and sufficient
support from their newspapers, pamphlets, and banking accounts to carry the day.
Gold was soon to become the basis of loans, ten times the size of the amount
deposited. In other words, 100 pounds in gold would be legal security for 1,000
pounds of loan; at 3% therefore 100 pounds in gold could earn 30 pounds interest
annually with no more trouble to the lender than the keeping of a few ledger entries.
The owner of 100 pounds of land, however, still must work every hour of daylight in
order to make perhaps 4%. The end of the process must only be a matter of time. The
moneylenders must become millionaires; those who own and work the land, the
Englishman and the Scotsman, must be ruined. The process has continued inexorably
till now, when it is nearly completed.
