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Quote by Hilaire Belloc

“The larger the unit of capital present, the easier the transaction called emission of credit. Centralized lending of this kind (which is today universal) actively promotes the absorption of the small man by the great, the reduction of small property owners to a proletarian condition.”

Quote by Hilaire Belloc

Book:The Crisis Of Civilization
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The Crisis Of Civilization

This book delves into the multifaceted issues threatening the stability and sustainability of contemporary civilization, including environmental degradation, economic instability, and political conflicts. It examines historical precedents and contemporary scenarios to analyze the potential pathways to collapse and offers insights into potential solutions and ways to avert such crises. more

Author

Hilaire Belloc
Hilaire Belloc

Hilaire Belloc was an English writer, poet, and historian, born on July 27, 1870, and died on July 16, 1953. He is recognized for his contributions to poetry, fiction, and political commentary. more

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“The smaller man approaching our modern banking system, which controls all issue of credit and therefore pretty well all our industrial and commercial activities, is not what the controllers of that credit call "interesting." He borrows with difficulty and upon high terms, and must pledge security out of all proportion to that which his richer rival has to put down.”

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“The very large units of production and exchange have access to credit on a large scale, sometimes without any cover at all, merely upon the prospect of their success, and always upon terms far easier than are open to their smaller rivals. It is perhaps on this line of easier credit that large capital today does most harm to small capital, drives it out and ruins it.”

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Author:Hilaire Belloc
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