Amadeo Peter Giannini Quotes
100 Amadeo Peter Giannini Quotes
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[On passing way in 1949 he left an estate of $480,000 – Dividing $9,000 to non-immediate relatives/children and $471,000 to charities. He was very close to his two surviving children] I believe in using money to help worthy causes while one is still living, and thus get some fun out of it. Of course, it is every man’s duty to strive to give his children the best possible equipment for life. But to leave millions to young sons is dangerous. Each of us is better for having to make our own way in the world. God meant us to work. Those who don’t work never amount to anything. To take from anyone the incentive to work is a questionable service.
Amadeo Peter Giannini
If my opponents hadn’t forced me time after time, there would have been no driving, sustained effort to top the field.
Amadeo Peter Giannini
There is no fun in working merely for money. I like to do things, to be a builder. The upbuilding of the Bank of Italy and its various associated institutions has been tremendously fascinating.
Amadeo Peter Giannini
I long since mastered the knack of thinking on whatever subject was in my mind whenever any one started and kept on talking about something of no interest to me. I can let such a conversation go in at one ear and out at the other without ever interfering with my own mental machinery.
Amadeo Peter Giannini
[In 1930] The little fellow is the best customer that a bank can have, because he is with you. He starts in with you and stays to the end. Whereas the big fellow is only with you so long as he can get something out of you; and when he cannot, he is not for you anymore.
Amadeo Peter Giannini
[In 1930 on nationwide banking coming just as department stores and drug stores did] It is coming gentlemen, and there is nothing that you can do to stop it.
Amadeo Peter Giannini
[On discovering a common bank practice around 1900 of one of a Columbus Saving director accepting commissions for arranging loans through the bank and also selling fire insurance to bank customers and keeping the premiums for himself. He confronted the bank board of which he had recently joined that they should fire this director due to integrity/conflict of interest. But they refused.] I might never have gone into the banking game if I hadn’t got so damn mad at those Columbus directors.
Amadeo Peter Giannini
[On an earthquake in San Francisco in April 1906 that had broken a gas mains and the city being engulfed in flames and one banker in the aftermath proposing that there should be a moratorium for six months on all lending] Gentlemen, you are making a vital mistake. If you keep your banks closed until November, you might as well never open them, for there will be no city left. The time for doing business is right now.
Amadeo Peter Giannini
A banker should consider himself a servant of the people, a servant of the community. This is my role; this is me and what I want to do; and I am convinced I can do it.
Amadeo Peter Giannini
[On seeing his future wife Clorinda singing in the choir and deciding at that point he] Made up his mind that he would never marry any other woman.
Amadeo Peter Giannini
[On courting for six months before marrying his future wife Clorinda in 1892] My courting days were a strenuous affair. I used to dress up mighty fancy and have never dressed up as fancy since. Many a time I went home after leaving her after a dance and changed to go to work – in those days we worse black formal clothes, long tails and all. But she was engaged to a doctor who was in Europe, and the big job I had then was to get her away from him.
Amadeo Peter Giannini
[On becoming involved in politics when he was 29 years of age already with a successful wholesaling business] We were selling good government. I wanted the candidates to meet the voters and to convince them the same way a businessman does to buy goods.
Amadeo Peter Giannini
When election time came around next time we were remembered. When you sell people keep them sold. That applies to politics as well as business.
Amadeo Peter Giannini
[In 1928 on not wasting money] I don’t want any more money. If I had all the millions in the world, I couldn’t live better than I do. I enjoy work. What is called high society doesn’t mean anything to me. I’ve always said I would never be a millionaire. Maybe this will convince some of the skeptics that I mean what I mean what I say.
Amadeo Peter Giannini
[In 1945 he felt that he was] In danger of getting into the millionaire class… I’ve always vowed I’d never become a millionaire.
Amadeo Peter Giannini
[In 1932 on returning from retirement at age 61 to wrest control of the huge holding corporation which he originally created from the men to whom he relinquished the management two years prior] This is all part of their plan to get price down and buy in so as to wrest control from the old crowd… This sort of stuff will mean the old crowd will stampede out and the new crowd will come into control.
Amadeo Peter Giannini
[To his son in 1932 on returning from retirement at age 61 to wrest control of the huge holding corporation which he originally created from the men to whom he relinquished the management two years prior] Don’t let them ruffle you or get your goat. Maintain dignity keep cool and keep yourself in shape. Above all remember ours was institution with soul working solely for the interest of stockholders. Its right and principle we are battling for and there’s no compromise with right or principle regardless of consequences. No sir, never my boy.
Amadeo Peter Giannini
[On his politics interlude to remove a corrupt government, by helping James Phelan at around the age of 29] I got into politics because of a desire to help Phelan. It was a diversion. I had lots of energy and this gave me an outlet.
Amadeo Peter Giannini
[In 1927 at the age of 57 on being involved in politics whilst running the Bank of America] That’s a lie. I am not in politics, never have been and don’t expect to be. Whoever says I am is a liar.
Amadeo Peter Giannini
Of what use would great wealth be to me?
Amadeo Peter Giannini
[In 1936 when he had announced retirement at least twice before] I’ll stand on the sidelines in a fatherly sort of watchfulness, the family watchdog ready to growl at any sign of danger from without and ready to bark at you if I find any turning away from the ideas on which the institution [Bank of America] was founded.
Amadeo Peter Giannini
The bank of tomorrow is going to be a sort of department store, handling every service the people may want in the way of banking, investment, and trust service.
Amadeo Peter Giannini
[At age 31 on his philosophy on accumulating personal wealth] I don’t want to be rich. No man actually owns a fortune; it owns him.
Amadeo Peter Giannini
[In 1904 on being asked by his board of directors why he offered Armando Pedrini a $150/month pay rate and a two year contract which was twice was he was getting at Columbus Saving Bank when he just started the Bank of America and not drawing a wage except for what the bank could afford to pay him] Because he knows his business, and because he is polite and has a following. The women are crazy about him [he kissed their hands, Continental fashion], and he gives a man in overalls as much attention as a big depositor.
Amadeo Peter Giannini
[To a young Caglieri on Monday morning, October 17, 1904 on opening the doors of the Bank of America for the first time] Vic, you may now open the front door.
Amadeo Peter Giannini
[In 1907 after San Francisco was devastated by fire after an earthquake] we are going to rebuild San Francisco and it will be greater than ever.
Amadeo Peter Giannini
[In 1907 on being told by a listener that he was ready to do his part to start rebuilding in the ashes] That’s the spirit! We’ll fix up a loan immediately.
Amadeo Peter Giannini
[On all the loan requests in 1907 after the fire] Look at all these requests we have. If we give everybody all he wants there won’t be enough money to go ‘round. You raise half the money and we’ll supply the other half.
Amadeo Peter Giannini
[On often fishing out a five dollar gold piece from his pocket if the father of a new baby was a poor man] For the little fellow; and remember that a savings account in his name can be started with a dollar. [99 times out of a 100 the parent would then cross the marble floor to the savings window to open a bank account for their child]
Amadeo Peter Giannini
[On a government fine saying he did not have the permission to convert the City and County Bank into a branch – which he subsequently did not have to pay] Don’t you pay a dollar of that fine. He will have a tough time getting a cent if I have anything to say about it.
Amadeo Peter Giannini
It is our purpose to make a specialty of the interest of the small depositor and borrower. We aim to do all in our power to help in the building up of Los Angeles… We have money to loan at all times to the man who wishes to build on property that he owns. We have no money for speculators… We consider the wage-earner or small business man who deposits his savings regularly, no matter how small the amount may be, to be the most valuable client our bank can have.
Amadeo Peter Giannini
[In January 1914 on his first ‘retirement’ from the bank at the age of 43 – when it was in an excellent position but felling that the burden of management had become too great ‘for one in an exhausted physical state’. (He last retired from the bank at age 75)] I have deemed it but fair… to afford you timely notice that under no condition will I accept the position of director or officer of the bank at the next annual meeting of the stockholders.
Amadeo Peter Giannini
It is my desire to retire fairly and honorably from participation in the management of the Bank, I deem it timely to now call the attention of this Board to several matters…
Amadeo Peter Giannini
[On the Bank of America’s (Originally called Bank of Italy) Los Angeles branch being profitable] The foregoing remarks have been prompted by certain criticism heretofore made by several local directors and officers of the Bank… to the effect that the establishment of a branch of the Bank of Italy in Los Angeles was now considered a mistake; that it was not paying, and that it was about to be closed down… On January 1st 1914 the deposits of said branch amounted to $2,400,000.00 which deposits have since suffered a shrinkage of about $500,000.00. Said branch is at present, nevertheless, earning from $3,500.00 to $4,000.00 per month, net, of which about $1,500.00 is to be attributed to profits on moneys furnished it by the head office, and about $2,000.00 per month net is being realized by it on its present deposits…
Amadeo Peter Giannini
[In 1917 on preparing a syndicate for the purpose of purchasing banks] Go to it Jim. It’s no dream I assure you.
Amadeo Peter Giannini
What if it does? Williams had the guts to clean up the banks of California, so I hired him to keep our bank clean.
Amadeo Peter Giannini
[In 1917] Not until the spring of this year did the Coast awake to the evidences of a rapidly rising tide of war prosperity due to the unprecedented prices… for livestock and agricultural products…
Amadeo Peter Giannini
[In 1917] No one could have foreseen the enormous increase in spring planting that followed the declaration of war… The resulting crops that have been harvested this fall in the district tributary to San Francisco give sensational evidence of what can be accomplished in the future… The bean growers increased their 1916 output by over 75% leaping from 4,175,000 bushels to 7,500,000. Barley advanced from 23,420,000 bushels to 35,206,000. These two crops were real thrillers. But the deciduous fruits reached new totals also; the peach crop exceeded last year’s by nearly 1,400,000 bushels; the prune crops surpassed all existing records. The raisin output was the greatest in the history of the state. Even the sugar beet planters, although they suffered keenly from shortage of labor and from the high prices paid what labor was obtainable, made a new record of 1,660,000 tons.
Amadeo Peter Giannini
[In 1916] You are putting the borrower out of business if you charge 10 or 12 percent.
Amadeo Peter Giannini
[In 1916] We believe that in having a prosperous surrounding country, the city will prosper and we also think that high rates of interest are ruinous to the farmers. We are here to make good times and… 7 percent will be our maximum rate of interest.
Amadeo Peter Giannini
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