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Courage to Believe

We did not build our unions overnight. And we will not build Bank of Labor to its full potential overnight. But we found the reason and the will to forge our locals into international unions for the common good. From this same spirit came our American Federation of Labor and Congress of Industrial Organizations. From this spirit, we can build Bank of Labor.
Our own AFL-CIO convention history shows that we long debated this issue. Should labor have its own bank, or should it not? Resolutions were put forward, but in that time it was decided by convention action not to support the labor movement’s own financial institution. Where might we be now if we had consolidated our capital then? Is labor’s capital better off dispersed or concentrated for our causes?
Times are different, now, yes. But our enemies still try to destroy or weaken us. Where else can we find the financial strength to endure the battles of our time and those that we will surely face in our tenuous future? Our consolidated capital—our joint financial holdings—represent the potential collective strength of the North American labor movement. Now what do we do with it?
If we can have the courage to believe in a future of our own making, at least one where we have a fighting chance, then we must give thought, reason and honest consideration to how we can build a stronger position for the labor movement by consolidating our capital to ensure that our values, our issues and our causes overcome the incessant waves of adversarial attacks. We must have the courage to believe.