Top Quotes & Sayings by Russell Cornell Leffingwell

Explore popular quotes and sayings by an American banker Russell Cornell Leffingwell.
Last updated on November 8, 2024.
Russell Cornell Leffingwell

Russell Cornell Leffingwell was an American banker who led the Council on Foreign Relations from 1944 until 1953. From 1944 to 1946, he served as president of the Council, and from 1946 to 1953, he served as the organization's first chairman. He was also a trustee of Carnegie Corporation from 1923 to 1959. His banking career, which focused on international lending, started when he joined J.P. Morgan in 1923, and he retired as chairman of the company in 1950.

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.
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