Quotessence
Home / Quotes / Quote by Russell Cornell Leffingwell

Quote by Russell Cornell Leffingwell

“There can be no freedom of the individual, no democracy, without the capital system, the profit system, the private enterprise system. These are, in the end, inseparable. Those who would destroy freedom have only first to destroy the hope of gain, the profit of enterprise and risk-taking, the hope of accumulating capital, the hope to save something for one's old age and for one's children. For a community of men without property, and without the hope of getting it by honest effort, is a community of slaves of a despotic State.”

Quote by Russell Cornell Leffingwell

Create image

Author

Russell Cornell Leffingwell

Russell Cornell Leffingwell (1878-1960) was an American banker and economist, best known as a chairman of J.P. Morgan & Co. He played a significant role in international finance during the early 20th century, particularly in post-World War I European debt restructuring and monetary stabilization. A proponent of the gold standard and fiscal discipline, Leffingwell served as an advisor to the U.S. Treasury and influenced Federal Reserve policies. His career bridged Wall Street and public policy, leaving a mark on global economic governance. more

You May Also Like

“My share of the work of the world may be limited, but the fact that it is work makes it precious. Darwin could work only half an hour at a time; but in many diligent half-hours he laid anew the foundations of philosophy. Green, the historian, tells us that the world is moved not only by the mighty shoves of the heroes, but also by the aggregate of the tiny pushes of each honest worker.”

WorldMayPhilosophyFactsTimeHoursHalfShareHonestHonestyHeroFoundationGreenMovedWorkersTinyHistorianDiligentHalf Hours
Author:John Harvey Kellogg
Create image