There is another frightful blunder which the Socialists have committed. In taking over the railroads, the coal industry and others, they have bought … - John T. Flynn
" "There is another frightful blunder which the Socialists have committed. In taking over the railroads, the coal industry and others, they have bought the properties outright from the corporations and stockholders who owned them. They have paid for them with British bonds paying three per cent interest. With each new industry taken over, the government has added another mass of obligations to its already crushing national debt. Now the folly of this lies in the fact that, under the old order, the stockholders had no claim for profit if none were made by the industry. But all these stocks—pure risk investments—have been converted into government bonds—which are a fixed charge upon the government, whether the industry makes a profit or not. And as all these industries have been operating at a greater or lesser loss, the government has had to find in taxes the means of paying this debt.
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About John T. Flynn
John Thomas Flynn (October 25, 1882 – April 13, 1964) was an American journalist known for his opposition to President Franklin D. Roosevelt and the United States' entry into World War II.
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John Thomas Flynn
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Additional quotes by John T. Flynn
Mr. Chase does not say so and perhaps would not agree, but what they add up to is British Fabian Socialism and American National Socialist Planning, which are precisely the same under different names. The most extensive care is observed to get away from the word ‘socialism.’ This is the advice George Bernard Shaw gave the English. He admitted the English could not nationalize everything. He believed it more likely that nationalization would become the rule and private enterprise the exception. And he urged that we stop talking nonsense about socialism and set to work to nationalizing various things and make an end of insisting on what it shall be called.
Labor, of course, subjected industry to its controls through organized pressure. In Germany, as in Italy, labor and socialism were closely intertwined. And here, too, socialists were deeply implicated in the doctrines of syndicalism. The official party program did not countenance it but, just as in Italy and France, the idea of the syndicalist society as distinguished from state socialism was making headway among the rank and file of the party.
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They think that to be a Fascist you must have some sort of shirt uniform, must drill and goose-step, must have a demonstrative salute, must hate the Jews, and believe in dictatorship. Fascism is not the result of dictatorship. Fascism is the consequence of economic jam and dictatorship is the product of Fascism, for Fascism cannot be managed save by a dictator.
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