“On the one side there is the party which holds power because it holds the wealth; which holds in its grasp all labour and trade; which manipulates for its own benefit and its own purposes all the sources of supply, and which is powerfully represented in the councils of State itself. On the other side there is the needy and powerless multitude, sore and suffering.
“Rapacious usury, which, although more than once condemned by the Church, is nevertheless under a different form, but with the same guilt, is still practiced by avaricious and grasping men . . . so that a small number of very rich men have been able to lay upon the masses of the poor, a yoke little better than slavery itself.”
Statement of Pope Leo XIII:
“In our days not alone is wealth accumulated, but immense power and despotic domination is concentrated in the hands of a few . . .
“This power becomes particularly irresistible when exercised by those who, because they hold and control money, are able also to govern credit and determine its allotment, for this reason supplying so to speak, the life-blood to the entire economic body, and grasping as it were, in their hands, the very soul of the economy, so that no one dare breathe against their will."
Warning given by Pope Pius XI during the great depression:
“Every man, as a reason-gifted being, has from nature the fundamental right to make use of the material goods of the earth . . .”
an individual right can in no way be suppressed, not even by the exercise of other certain and recognized rights over material goods . . . “
“It is left to human will and to juridical forms of peoples to regulate more in detail the practical realization of this right.” Statement by Pope Pius XII, in his broadcast, June 1st, 1941: