Letters: Mar. 18, 1929

Lindbergh on Banking


Thanks for recalling to the public the attitude of Charles A. Lindbergh Sr. (my father) upon banking law. He was opposed to the system which has fostered the present great concentration of wealth in the hands of a small per cent of the population. According to the figures of the Federal Trade Commission, 1% of the people own 59% of the wealth, 13% own 90% and 87% own 10%. Half the national income returns to capital.

During the last few years bank failures have become common, the number mounting into the...

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