Fri., June 28, 1974, Bennington Banner.

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Fri., June 28, 1974, Bennington Banner. - the ·Bennington Banner, Friday, June 28, 1974...
the ·Bennington Banner, Friday, June 28, 1974 -- 5 'Break up the Rockefeller fortune,' demands Liberty Union's Sanders ESSEX JUNCTION - In separate press releases Issued this week by Bernard Sanders, Liberty Union candidate for the seat of retiring Sen. George D. Alken, .the Rockefeller family were assailed as being the "most powerful" and "dangerous multi-billionaires" inthecountry.andLoulsReder, general manager for the New England Telephone Co., was accused of "Illegal, immoral and grossly irresponsible action" for threatening to Ere 200 telephone workers in Vermont and cut the phone company's construction budget by $13 million. Reder's threat followed the Public Service Board's rejection of the company's request for a 16 per cent rate hike, pending the outcome of a ·permanent rate hike totalling 23 per cent. Sanders called the action by Reder's "an example of corporate blackmail against the people of Vermont by the largest and richest corporation in the world." The New England Telephone Co. in Vermont is owned, controlled and operated by ATT, and Sanders pointed out in his denoucement of the Rockefellers, "When the telephone company requests a huge rate increase In Vermont, we should understand that the Chase Manhattan Bank -- a Rockefeller bank--is one of the major stockholders of ATT and that the rate increases we pay go right Into their pockets." China from him that he has worked valiantly to get away from the Cold War and move, as he says: from an "era of confrontation to an era of accommodation." Still, Jackson is a blunt man, with powerful forces behind him, and if the President's efforts at dependable arms control and a genuine peace in the Middle East do not produce results, public opinion could move toward Jackson. "There U probably no group more powerful, and more dangerous, than the Rockefeller family," Sanders declared, "among the handful of multi- billionaires who control much of the nation's economy." He also said the economy was under the Rockefeller's exclusive control, "to a large degree." The senatorial candidate, who is chairperson of the Liberty Union Party, vowed to make attacks on the Rockefeller wealth a major part of his campaign stategy, and insisted, "the incredible wealth and power of this family must be broken up" if a major depression is to be avoided. He suggested that the Rockefeller resources "beused to benefit all of the people and not just the very few." The economy of the United States and much of the world, he said, is controlled by fewer people than at any other time in modern history, and "while the real wages of working people actually decline because of . inflation, coporate profits soar and the billionaires get richer and ever more powerful." "While working people in Vermont and America," he charged, "are paying 60 cents for a gallon of gas, and tens of thousands of Vermonters are working for $2 or $2.50 an hour, a tiny handful of multi- billionaires determine whether governments around the world will be preserved or will topple, or whether the people of this nation will experience so-called "energy crises," and so-called "food crises." Sanders said the Rockefellers, through their control of Chase Manhattan Bank, First National City Bank, Chemical Bank, First National Bank of Chicago, Metropolitan Life Insurance Co., New York Life Insurance Co., Standard Oil of California, Standard Oil of Indiana and Marathon Oil -- "to name afew" --have a personal fortune estimated at close to $10 billion in assets. He also said the Rockefellers own "mansions throughout the world." "It is absolutely absurd that this one family should have that much power over tens of millions of people," Sanders argued, and warned that the major depression he anticipates will occur on a worldwide as well as national basis unless the Rockefeller power and wealth are broken up. "Trie billions of dollars they \ coni'i. (," he urged, "must be used n create a decent stan-" dard oi living for all people, ratter than unheard of wealth for a few." "It is absolutely in-ej.'.^asib'.o for politicians to tell us that there is "not enough money available" to substantially raise our economic commitment tc the elderly, to lower utility rates, or to lower our taxes, when one family like the Rovk.-?,Ul3rs have control of over {255 billion," he said. AfT, one of Sanders many targets, owns more than 85 per cent of New England Telephone Co., and made more than $3 j million in profile last year, . more than any other corporation in America. The company, in which .03 per cent of the stockholders own 24 per cent of the stoch, enjoyed a record-teasing 13 per cent increase In profits last year, ' which came on top of a 12 per cent increase in profits the previous year. "What the telephone company is doing now should be obvious to every Vermont rate payer," Sanders explained, "They are using their incredible wealth and power to blackmail the people of this state and to force the Public Service Board to grant them a huje rate in- ' crease. What they are saying is this," he continued, '"If you don't giVe us what we want we are going to lay off workers and disrupt the economy of the state.'" "This must not be . allowed to happen," he , declared. "The Public Service . Board has got to represent the people of this state for a change and stand up to ATT" Sanders promised to continue his attacks on Reder, and '. particularly the Rockefellers and their wealth, which he has vowed to make "one of the : major themes" of his cam- , paign, "on behalf of many senior citizens who are barely able to survive economically, and the hard-working families . who are being driven into serious financial difficulties by sky-rocketing utility rales."

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  1. Bennington Banner,
  2. 28 Jun 1974, Fri,
  3. Page 5

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  • Fri., June 28, 1974, Bennington Banner.

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