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communist tenet. • if,::
In the Cofrununitft Manifesto Karl Marx also demanded : "Extension of factories and instruments of production owned by the state.**
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Today in America, the federal government has invested, committed or guaranteed 160 billion dollars in various business enterprises. Some of these enterprises:
1. Produce and sell - electric power. \
2. Operate railways and ships. v 3. Buy and sell farm products.
4. Smelt and sell metal.
6. Engage in lending money.
6. Guarantee about 90 billion dollars of deposits and mortgages.
7. Write about 40 billion dollars of insurance.
Here again America has gone , far toward “Extension of .factories and instruments of production owned by the State.”
In the Communist Manifesto Karl Marx demanded : “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”
In America today the executive branch of the federal government working through the Federal Reserve System, has far-reaching control over the entire banking business. The U.S. government is the world’s largest banker and guarantor of credit. In 1960 the loans, loan-guarantees and credit commitments of government lend
53.8%