There is one tendency which hopes to make the fusion with industry a general phenomenon; another tendency is working to make this fusion very closely-knit and solid. Both tendencies are given effect to, as vet incompletely, but already to a considerable extent and to an equal degree, in the six biggest German banks."
Quite often industrial and commercial circles complain of the "terrorism" of the banks. We are not surprised, for the big banks "command" as will be seen from the following example:
On the 19th of November, one of the big Berlin "D" Banks (such is the name given to the four biggest banks whose name begins with the letter D), wrote to the board of directors of the German Central-North-West Cement Company, a letter which ran as follows:
"We learn, from the advertisement that you have published on the 18th instant in a certain newspaper, that the next general meeting of your company, fixed for the 30th of this month, may be called upon to take measures which are likely to effect alterations in your undertakings which we cannot possibly agree with. We deeply regret that, for these reasons, we are obliged henceforth to refuse you the credit which has been hitherto allowed you. If the next general meeting does not decide upon measures inacceptable to us, and if we receive suitable guarantees on this matter for the future, we have no objection to negotiating with you the opening of a new credit."38
In truth, this is the same old complaint of little capital oppressed by big capital. Only, this time, it is a whole syndicate which has fallen under the heading of "little." The old struggle be-
