A money trust is a group of small but powerful and wealthy members who use their power in such a way that they are able to create a dominion over the world’s economy. This group uses their assets, such as stockholding and interlocking directors, in order to create this dominion over banking institutions, trust companies, the public service industry and the industrial industry. The stronghold of this group allows for them to have a huge influence on the decisions made in almost every sector of the world’s economy. With money being such a vast part of all central governments, this control of the world’s money also enables this group to have political control in many countries.
In 1913, many people in the business industry were worried that a money trust had been formed and that they were controlling vast amounts of the world’s financial and political power. Some believed that this group was intent on creating a world system of finance that was directly controlled by them. The more powerful this group became, the more people starting investigating their different business practices. The government decided to look into the money trust 1913 and began the 1913 Pujo Money Trust Investigation.
The final results of the 1913 investigation showed some alarming findings. The first finding was that this money trust did control a large amount of the money and banking institutions and they used this power to help their friends and hurt their enemies. Their power was so strong that they were able to greatly influence the bear and bull markets, and their dealings affected the New York Stock Exchange and the New York Clearing House Association. They were found to have direct influence over the railroad construction of the time and continued to grow their power by financing new businesses. It seemed that this small but powerful group of people was able to control many aspects of the economy.
These findings led the government to enact many laws and regulations, like the Aldrich Bill, that was aimed at breaking up a money trust and from preventing them to continue their practices. Many people, however, believe that money trusts still exist today and they are concerned. This belief comes from the fact that a very small percentage of Americans own about a third of all of the wealth in the country. Despite the laws and regulations set in place, this small group of people certainly holds a vast amount of power in the economic and political sectors.