What Some Previous Presidents Thought Of Corporate Power

[ErikJ]

Last edited Wed May 22, 2013, 09:20 PM - Edit history (1)

I was looking for quotes of T. Jefferson and stumbled across this from a facebook post.
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It is clear what some of our previous Presidents believed as they began, built, and continued to facilitate the American Dream... that the people of this great nation come first.


“I hope we shall… crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government in a trial of strength, and bid defiance to the laws of our country.” ~ Thomas Jefferson

“There is an evil which ought to be guarded against in the indefinite accumulation of property from the capacity of holding it in perpetuity by corporations. The power of all corporations ought to be limited in this respect. The growing wealth acquired by them never fails to be a source of abuses.” ~ James Madison

“In this point of the case the question is distinctly presented whether the people of the United States are to govern through representatives chosen by their unbiased suffrages or whether the money and power of a great corporation are to be secretly exerted to influence their judgment and control their decisions.” ~ Andrew Jackson

"We may congratulate ourselves that this cruel war is nearing its end. It has cost a vast amount of treasure and blood... It has indeed been a trying hour for the Republic; but I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war. God grant that my suspicions may prove groundless." ~ Abraham Lincoln

"These capitalists generally act harmoniously and in concert to fleece the people, and now that they have got into a quarrel with themselves, we are called upon to appropriate the people's money to settle the quarrel." ~ Abraham Lincoln

“I am more than ever convinced of the dangers to which the free and unbiased exercise of political opinion - the only sure foundation and safeguard of republican government - would be exposed by any further increase of the already overgrown influence of corporate authorities.” ~ Martin Van Buren

“As we view the achievements of aggregated capital, we discover the existence of trusts, combinations, and monopolies, while the citizen is struggling far in the rear or is trampled to death beneath an iron heel. Corporations, which should be the carefully restrained creatures of the law and the servants of the people, are fast becoming the people’s masters.” ~ Grover Cleveland

“I again recommend a law prohibiting all corporations from contributing to the campaign expenses of any party. Let individuals contribute as they desire; but let us prohibit in effective fashion all corporations from making contributions for any political purpose, directly or indirectly.” ~ Theodore Roosevelt

“The fortunes amassed through corporate organization are now so large, and vest such power in those that wield them, as to make it a matter of necessity to give to the sovereign - that is, to the Government, which represents the people as a whole - some effective power of supervision over their corporate use. In order to insure a healthy social and industrial life, every big corporation should be held responsible by, and be accountable to, some sovereign strong enough to control its conduct.” ~ Theodore Roosevelt

“We stand for the rights of property, but we stand even more for the rights of man. We will protect the rights of the wealthy man, but we maintain that he holds his wealth subject to the general right of the community to regulate its business use as the public welfare requires.” ~ Theodore Roosevelt

“A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor - other people’s lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness." ~ Franklin D. Roosevelt

“These economic royalists complain that we seek to overthrow the institutions of America. What they really complain of is that we seek to take away their power. Our allegiance to American institutions requires the overthrow of this kind of power. In vain they seek to hide behind the flag and the Constitution. In their blindness they forget what the flag and the Constitution stand for.” ~ Franklin D. Roosevelt

“In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted.” ~ Dwight D. Eisenhower

[villager]

1. If only modern Presidents could dare utter such words. But they wouldn't be "elected," and

...if they were, and uttered such thoughts, why, "lone nuts" might start appearing...

[villager]

1. While I *was* emphatic, I'm not sure DU's software needed to replicate the post!

[liberal N proud]

3. That was before greed consumed this nation

And we all did what was best for all people.

Can you imagine any member of congress or recent president who has put the people of this nation first?

I can't!

[annabanana]

4. kickaroony and ain't it the truth!. . . . n/t

[DirkGently]

5. Excellent (nt).

[Dragonfli]

6. Rebellion against the East India Trading Company was no small part of our desire for independence

The first Corporation with such great power it became fused with the crown in such a way that it wrote it's own rules and was defended by the royal navy as well as their own mercenary branches; they provided the lessons that inspired such quotes from Jefferson and others.

Lessons forgotten by our modern day stakeholders in power it would appear as our pols openly place the corporation and banker executives in charge of all appointed positions large and small.

Obama is just the most recent example of corporations making the rules rubber stamped by their representatives, they are the true constituents of our elected, we are nothing more than resources to the corporations that own them and us.

[woo me with science]

17. +1

[datasuspect]

7. this country had a pretty history of electing statesmen to its highest office

now we get stooges and corporate lackeys.

[Smarmie Doofus]

8. Kick, kick, kick. Rec, rec, rec. n/t

[woo me with science]

9. We are in such deep, deep trouble...

Thank you for this post.

[thesquanderer]

10. Great quotes, but Lincoln never said the first one

according to this:

http://www.washingtonpost.com/wp-dyn/content/article/2007/06/08/AR2007060802470.html

That's the only one I checked, because it just didn't sound "lincolnian" -- and it looks like I was right.

[ErikJ]

12. But according to this he apparently did say it.

From: http://www.ratical.org/corporations/Lincoln.html
.....................
More recently, David Korten’s book, When Corporations Rule the World (1995, Kumarian Press), sources the quote to Harvey Wasserman (America Born and Reborn, Macmillan, 1983, p. 89-90, 313), who in turn sources it to Paha Sapa Reports, the newspaper of the Black Hills Alliance, Rapid City, South Dakota, 4 March 1982. But given Wasserman’s ties to Howard Zinn, and his status as co-founder (?) of the Liberation News Service, citing that kind of trail is like waving a red flag for the skeptics

Fortunately, after some burrowing in the university library, I was able to confirm its authenticity. Here it is, with more surrounding context:

“We may congratulate ourselves that this cruel war is nearing its end.
It has cost a vast amount of treasure and blood. . . .
It has indeed been a trying hour for the Republic; but
I see in the near future a crisis approaching that unnerves me and causes
me to tremble for the safety of my country. As a result of the war,
corporations have been enthroned and an era of corruption in high places
will follow, and the money power of the country will endeavor to prolong
its reign by working upon the prejudices of the people until all wealth
is aggregated in a few hands and the Republic is destroyed.
I feel at this moment more anxiety for the safety
of my country than ever before, even in the midst of war.
God grant that my suspicions may prove groundless.”
The passage appears in a letter from Lincoln to (Col.) William F. Elkins, Nov. 21, 1864.

For a reliable pedigree, cite p. 40 of The Lincoln Encyclopedia: The Spoken and Written Words of A. Lincoln Arranged for Ready Reference, by Archer H. Shaw (NY, NY: Macmillan, 1950). That traces the quote’s lineage to p. 954 of Abraham Lincoln: A New Portrait, (Vol. 2) by Emanuel Hertz (New York: Horace Liveright Inc, 1931).

[thesquanderer]

13. Interesting, thanks for the reference. (n/t)

[Maineman]

11. Essentially everything wrong in Wash DC is traceable to corporate funding of politicians.

With the help of religious fanatics .

We need structured campaigns with equal time for political ads.

We need lobbying restricted to open hearings.

We need an informed citizenry. (Is it true or did you hear it on FOX News?)

Given these, Republicans might even display some common sense and cooperation for the well being of the nation and the planet. We might even get a functioning congress. We might get a healthy budget process and budget. We might do something about global warming, big bank crime, the grossly unfair tax structure, all kinds of things that need to be done.

[bvar22]

14. Now, now.

"We can't begrudge them their wealth!"
"They are just savvy businessmen."
"Its the Free market."
"I mean, look at all the Baseball Players."
---President Obama defending the obscene bonuses the Wall Street Bankers awarded themselves after the Great Bailout Scam of 2008.

Yes, Alice.
we HAVE fallen down a Rabbit Hole,
and we are still falling.


Corporate Profits Hit Record High While Worker Wages Hit Record Low
http://thinkprogress.org/economy/2012/12/03/1270541/corporate-profits-wages-record/?mobile=nc

You will know them by their WORKS.

[font size=5 color=green]Solidarity99![/font][font size=2 color=green]
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[Scuba]

15. Kick.

[woo me with science]

16. K&R

[woo me with science]

18. kick

[Martin Eden]

19. Rec, n/t

[moondust]

20. Why didn't they stop it?

Is there something that says corporate charters must be granted and legally recognized?

[ErikJ]

21. Teddy Roosevelt broke up Standard oil and 10 other monopolies

And his successor Taft broke up even more, ............................even though he was a Republican!
Carter was the last president courageous (or honest) enough to break up a monopoly.

[moondust]

22. The old guys would gasp

at how much control of the U.S. economy and government the corporations have gained, destroying communities as they've moved millions of job opportunities offshore, downsized and automated many others. Where does it end?



Thanks for the quotes.

[Octafish]

23. KB&R

Thank you, ErikJ! Outstanding post and thread.