Federal Reserve: The Monopoly of Big Credits?
Current and former presidents of the Federal Reserve Bank of New York pose for a group portrait on May ! "#$% From left to right: &illiam '% M()onough! &illiam C% )udley! *aul +% ,ol(ker! -% .erald Corrigan! and Timothy F% .eithner% +ll five men are /or were0 mem1ers of the Coun(il on Foreign Relations and mem1ers of the Trilateral Commission%/*hoto: Federal Reserve0+ndrew 'a(kson2
It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes.
)istin(tions in so(iety will always e3ist under every 4ust government% -5uality of talents! of edu(ation! or of wealth (an not 1e produ(ed 1y human institutions% 6n the full en4oyment of the gifts of 7eaven and the fruits of superior industry! e(onomy! and virtue! every man is e5ually entitled to prote(tion 1y law8
but when the laws undertake to add to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society—the farmers, mechanics, and laborers—who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their Government. There are no necessary evils in government. Its evils exist only in its abuses.
6f it would (onfine itself to e5ual prote(tion! and! as 7eaven does its rains! shower its favors alike on the high and the low! the ri(h and the poor! it would 1e an un5ualified 1lessing%9 +ndrew 'a(kson! *resident of the ;nited <tates! in his ,eto Message regarding the <e(ond Bank of the ;%<% on 'uly #! =>"