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He received a public school education; was clerk in a forwarding and commission house; and, at 19, became a partner in the firm of Clark and Rockefeller, commission merchants. Subsequently the firm engaged in the oil business. In 1865, the firm, then William Rockefeller and Company, built the Standard Oil works at Cleveland and, in 1870, was consolidated with others to form the Standard Oil Company. Still other interests were later acquired and the Standard Oil trust was formed in 1882, but was dissolved in 1892.

Page 60 War, Central Planning and Corporations The 5th Amendment eliminated a federal power to enforce criminal laws as a means for central planning, to wit: "No person shall be held to answer for a capital or otherwise infamous crime unless upon a presentment or indictment," leaving all federal criminal charging powers in the hands of the people. In the context of English common law and the common law of the American states prior to 1791, this provision would have been understood as a barrier to the charging of any person for a federal felony unless a grand jury approved the indictment.

While the older generations, corporations, and governments achieved real and currently consumed benefits, current and future generations are receiving only the burdens of austerity and debt, with very little, if anything, to consume currently in comparison with the consumption levels of prior generations. How will future generations cope with the austerity that must surely come on account of prior spending and debt levels? Will industrial workers work when there are no incentives linked to either potentially increased consumption or visibly increased savings in which they have an identified share?

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